HI
Just looking for some advice please?
We are both working, I work 12 hours and my wife is full time. I have tried to increase my hours but so far to no avail. I am also a part time undergraduate so some of my week is taken up with my degree studies. Our working/student life is carried on at home to a large extent so we use broadband to do this. As a family we feel our finances are not manageable as we haven't got a bean left ever (so anything unforeseen can't be covered) and we are trying to live thriftily. We have been as honest as we can with our statement. Where it wants an amount for clothes we haven't filled it in as we don't buy any. Christmas and birthdays come out of grocery expenditure as does car tax and running costs (the car is under warranty so we use the main dealer). Anything else with a '0' means we don't have it.
We've been in debt for many years (the last lot got paid from my late dad's estate) and as our working lives change, our lifestyle never gets any better. Other than working, we feel that we have got nothing else. Our kids don't get much of anything other than dinner on the table.
The stress of trying to manage is making us ill and despite trying to be thrifty, we are absolutely sick of it - it affects everything we do!!! (and don't do).
The amount we have left in the statement we don't see in our pocket and we feel that really we could add another £200 per month which we are short by.

Any suggestions as to where we go from here would obviously be welcome.
Thanks        
Joe


Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1367.72
Partners monthly income after tax....... 451.66
Benefits................................ 55.12
Other income............................ 0
Total monthly income.................... 1874.5

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 76
Electricity............................. 80
Gas..................................... 80
Oil..................................... 0
Water rates............................. 42.83
Telephone (land line)................... 17.48
Mobile phone............................ 19.17
TV Licence.............................. 11.95
Satellite/Cable TV...................... 12.27
Internet Services....................... 23.44
Groceries etc. ......................... 600
Clothing................................ 0
Petrol/diesel........................... 48
Road tax................................ 0
Car Insurance........................... 51.98
Car maintenance (including MOT)......... 0
Car parking............................. 12
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 120
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 19.23
Buildings insurance..................... 0
Contents insurance...................... 43
Life assurance ......................... 0
Other insurance......................... 8
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1565.35


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 5000

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Overdraft joint................300.......0.........19.5
Student Overdraft..............993.4.....0.........0
One Card.......................664.96....30........15.94
PC Loan........................75........0.........0
Student Loan Partner...........4000......0.........2.4
Student Loan...................10587.....0.........2.4
Loan from family...............320.......50........0
Catalogue......................350.......107.......26.82
Total unsecured debts..........17290.36..187.......-  


Monthly Budget Summary
Total monthly income.................... 1,874.5
Expenses (including HP & secured debts). 1,565.35
Available for debt repayments........... 309.15
Monthly UNsecured debt repayments....... 187
Amount left after debt repayments....... 122.15

Personal Balance Sheet Summary
Total assets (things you own)........... 5,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -17,290.36
Net Assets.............................. -12,290.36

I would very much agree with the above - however you are making the situation appear worse by including your student loans, which although real only incur interest at an inflationary rate and are paid though your income once you hit the threshold.  My student loan is well over 20K but I don't consider it a 'real' debt as it gets paid without me having the money in the first place, it doesn't appear on your credit report and therefore in no way adversely affects you.  It was a necessary evil and will stay that way.  Concentrate on cutting costs as above and put the extra cash to paying off the debts with the highest APR.

Take control of what you spend, nothing, not a penny should get spent without it being noted down and keep a weekly average over the next few months - most estimations of expenditure will be underestimated and this will shock you into action and identify areas to cut down - and I'm speaking from personal experience!!

Multiply monthly costs by 12 to see the real impact as a yearly fee.  Satellite/cable is a common expenditure even when people are struggling - we'd love it but at the moment don't feel we can afford it and our monthly income is significantly higher.  Theres no reason you can't sign up again when debts are clear and times are better.

I think getting rid of the pet is a last resort - for most people (and people who have no animals are usually the first to suggest it ) the pet is a family member - you may as well suggest getting rid of a child.  Having a pet is a privilege and not a right, and getting a pet when you are struggling is irresponsible, however many people have pets when times are good and then things change - in this situation getting rid is not an option but management it.  Insurance is a good way of guarding against unexpected fees if money is tight as you can budget better and there are a variety of ways of cutting costs with the other things associated and charities who can help.