Coping with finances after husband was let go.

[lillylee]

Age: 31
Spouse’s/Partner's age: 31

Annual gross income from employment or profession: 32K
Annual gross income of spouse: unemployed

Type of employment: e.g. Civil Servant, self-employed

In general are you:
(a) spending more than you earn, or
(b) saving?

Rough estimate of value of home at the moment 240K ish
Amount outstanding on your mortgage: 250K
What interest rate are you paying? 4.2%

Other borrowings – car loans/personal loans etc

C.Card 4,700
Car Finance 3,500 (remaining)
Credit Union 22,000

Monthly Income:

Salary






Do you pay off your full credit card balance each month?
If not, what is the balance on your credit card?

Savings and investments:

Do you have a pension scheme?

Do you own any investment or other property?

Ages of children:

Life insurance:


What specific question do you have or what issues are of concern to you?

 

[BoscoTalking]

same advice as usual -
change your credit card to a 0 interest for 6 monhts balance and do your best to pay it off. Do not use it again in that time for anything.
Service the loans as best you can - even if it means renegociating the loan in the credit union - make an appointment to meet and discuss with them.
Above all its imeritive to look at every penny you let go out of the house - food, heating, clothes etc and ask yourself can you reduce or eliminate this spend...

I actually think you need to not let this consume you if you can at all - you happen to be broke just now, hopefully it won't always be this way but getting depressed or your hubbie losing confidence in himself will not serve either of you