"I lost my full time job working as an events coordinator a month ago and I still haven’t found work. My children (Cameron, 4, and Carly 2) are both in nursery full time, costing me £800 a month. I’m halfway into my last £1,100 pay check and I had about £1,500 saved, but it’s not going to last. My working tax credits and childcare vouchers are stopping, too.
I don’t have broadband, I have a car, but I need that for the children and I only use my credit card for petrol, then pay it straight off. I don’t have any other debt.
I don‘t pay for gas or electric monthly - I just get a bill and I’m worried there’s a big one on its way. I spend about £70 a week on food because I try to be healthy but fruit and vegetables are expensive. I shop at Sainsbury’s because I use Nectar points for the children’s clothes. My daughter was doing ballet, but at £50 a term I’ve had to stop that. How can I support myself while looking for work?"
WHERE THE MONEY GOES
Rent: £795
Childcare: £800
Gas: £15 (£45 quarter)
Electricity: £unknown (no bill yet)
Water: £8.50 (£25 a quarter)
Council tax: £100
Phone: £45
Travel (car): £70
Groceries: £300
Socialising: £50
TV licence: £12 (£145.50 paid annually)
Car insurance £34 (£400 annually)
TOTAL: £2229.50
SARAH WILLINGHAM'S 3-POINT PLAN
• Emma’s son can get 15 hours free childcare a week for 38 weeks of the year but Emma could be entitled to more. She should tell her local council about her redundancy, and she shouldn’t be afraid to claim Job Seekers Allowance either. Call Jobcentre Plus on 0800 055 6688.
•Emma can keep shopping at Sainsbury’s for Nectar points but also buy tins and jars from use Approved Foods. They sell food close to its Best Before date – it’s still good to eat but can’t be sold in supermarkets. She should buy fruit and veg at her local market.
•Emma should use UKPower or uSwitch for a better gas and electric tariff. Having no debt means she’ll get the very best deals and will get a reduction for paying by direct debit. She could also get the Santander 123 credit card for 3% cashback on petrol purchases and keep an eye on petrolprices.com to buy the cheapest fuel locally.
DON’T GET CAUGHT OUT!
Two-thirds of Brits can’t break free from an ex because they have joint finances, according to the Debt Advisory Centre. A fifth can’t agree who is responsible for paying-off joint debt and 15% still have their money in a joint account. Splitting? Agree a plan for separating finances and paying-off debts and file a financial disassociation on www.experian.com. It lets lenders know financial arrangements should be treated individually again. Find more tips here.