Stupid, Stupid, Stupid Me! - Mental Health Sup...

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Stupid, Stupid, Stupid Me!

HeroOfTime
HeroOfTime
8 Replies

Thanks to my mental health problems causing me to spend without thought, I now have less in my bank account than I expected & once all my bills have gone out, will have barely anything left for an emergency & not enough for next mnth

My only hope is that my Job Centre assessment gives us some more money each mnth & that I get PIP or else I will overdrawn very soon & my money disaster turns into a money nightmare without no way of making it better

8 Replies
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indervir

Write down everything, everything you spent on and money you have paid off - that is the best way to get control over things like this - spending - keep every receipt and payment.

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hypercat54

Don't go overdrawn without permission as the financial penalties are brutal. Get in touch with your bank and ask for an official overdraft saying something like you are temporarily caught short due to a couple big bills going through this month.

I can't see them refusing, but if they do ask for a loan from your benefits - say something like your dog is poorly, but whatever you say give a good reason. Good luck. x

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borderriever

When you get paid make a list of all those payments that need to be paid. Approach your utilities and ask to pay your account monthly by a regular payment accoung

Set up standing orders in the bank so your bills will be paid on a monthly basis., Allow money for shopping for food, a regular amount will prevent you overspending. We pay for most things on a credit card, again set up a C that may because urrent account where money spent is payed back before any interest is added

It is important you list all outlays and fence off, in your current account, Get payed through your bank account that will help you manage money and put aside money for any urgent work you need to have done.

Set up accounts for savings, holidays and any urgent or unforsean circumstances

Allow for entertainment , night outs etc however remember money coming in has to be there to pay your bills, paying monthly will help you manage your money.

At home all our bills are payed by Standing Order from a Current account, we never pay a bill by cash, only through the bank

BOB

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HeroOfTime

Thanks all, everything is paid by direct debit, I did speak to the bank saying that I can't pay my credit card & loan, that's already been stopped with no interest or charges being added to either & both will be written off @ some point this yr @ great cost to my credit score, but I'll go in & see them & tell them that unless things improve, I'll be going overdrawn within the next couple of mnths

1 like
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borderriever

Sounds like you are heading towards more problems.

Talk to your Bank Manager you need some help it seems, if you can stop or reduce the interest or extend payment that may help you.

Personally I never handle money now, My Wife keeps an eye on me

BOB

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HeroOfTime

It's the only way as there's no way I can pay the payments or start a payment plan anytime soon

Hoping that the assessments will bring in some xtra money, but 1 ain't until next Fri & the other, who knows, we've applied & got the Warm Homes Discount, just dunno when we'll get the money, gonna apply for Council Tax discount

As for my spending, gotta get xtremely strict with myself until further notice, so can't afford birthday presents or any presents

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borderriever

They can extend the periods of the loans, sometime can also be reduced. Sometimes Bankrupt may be one way forward

I wish you well Good Luck

BOB

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HeroOfTime

They thought about all options & simply closing down the loan & credit card is the best as need to keep on using my bank account. Only gone & ordered a couple of items online, why can't I stop?

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