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Old 10-03-2012, 10:44 AM   #11
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Re: Can I get some ideas of what to trim please?

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Originally Posted by briggsy13 View Post
Also I'd check into refinancing the house. There are really low rates these days and you could save a couple hundred dollars a month there.
I doubt she can refinance if she's underwater.

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Old 10-03-2012, 01:53 PM   #12
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Re: Can I get some ideas of what to trim please?

You need more money somehow.

With 10 people I imagine you use a lot of electricity but maybe see if you can get that down a bit but even if you brought it down 25% that is only giving you $100.

I'm thinking the bank needs a visit. See what you can do about that mortgage. We've recently run into some financial difficulties and so I visited the bank to sort out a new payment plan for the mortgage. I don't know about Australia but it's almost never worth it to refinance here at a lower interest rate because the banks charge a penalty to get our of the original mortgage. We have to wait for our term to be up and then get the better rate. My mortgage also has a 'skip a payment' with no penalty clause and various other things like that. Perhaps yours does too?

If you can't find more income the next best thing is to figure out the best way to borrow money at the lowest rate possible so you can get by until things improve.
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Old 10-03-2012, 05:28 PM   #13
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Re: Can I get some ideas of what to trim please?

Thanks everyone, really appreciate it, pretty much confirmed what I already know.

Dh is trying to find more work - I cannot add anymore as it is hard enough now looking after all the kids, running the house and I have really bad rheumatoid arthritis. We have zero family support and childcare here is anywhere from $75 a day - it hardly makes it worth me working. Hopefully dh can secure something else in the next few months. I am still going to try and cut some things out though because even if he is able to get more work I still doubt we will be able to get ahead, it might make day to day easier but there wont be any extra to add to superannuation etc

Yes car reg and power are really high here, sigh. Our last bill was higher as we have just had winter, the next one should be lower as in spring we dont use any aircon but in summer we get 42 degree days so it gets very hot. I am going around turning everything off at the wall etc so that hopefully the next one is as low as possible.

I will have a talk to dh about cable again and I am happy to cut my mobile but as it's only a month into a new contract I will have a huge exit fee which might not be better. It might be better to try and cut off the home phone, give our cell number to clients and go that way.
I will try to make some calls and get better deals on the insurance - I can lower the premium on the cars if I have a higher excess but without any savings if anything happens I wouldnt be able to come up with the excess to get it fixed.

Thankyou, I will make some calls over the next few days and update if I have any luck.
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Old 10-03-2012, 06:33 PM   #14
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Re: Can I get some ideas of what to trim please?

I don't know how you can pay the bills feeding 10 people on what is left over, I feel the cost of food here in NZ with a family of 5.. I am planting a small veg patch soon.

We have just got rid of movies & sports off sky & kept the basic package.

I shopped around for insurances to get the best deal.

DH got rid of his cell & just uses his work one (which is pretty flash). We need fast BB & high usage for DH when on call otherwise I would cut some of that. I am on contract for another yr.

We changed power companies a yr a go & got locked in for a really good rate, but not as it is up we are on standard so we have changed to easy pay & have the same amount come out fortnightly so we will be in credit in summer & even in winter & get prompt payment discounts even if there is money owing on it.

I don't budget clothes, gifts etc & I guess I should but when the need arises I juggle bills.

I am going through stuff & selling stuff no longer needed, sick of clutter & toys not played with so getting a few extra $ for xmas.
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Old 10-03-2012, 06:42 PM   #15
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Something to check into right away - here Verizon gives you 30 days before you are actually locked into a new contract. You might be able to return the phone & cancel the contract and just pay a $30 restocking fee.
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Old 10-03-2012, 06:55 PM   #16
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Re: Can I get some ideas of what to trim please?

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Originally Posted by Computermama View Post
I doubt she can refinance if she's underwater.
True, but in her OP, she says:

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Originally Posted by clothlover8 View Post
Good news - we have no credit card debt, no loans, no car loans, our only big debt is the house and it's worth more than what we owe.

So, she's not underwater. I have no idea about refinancing anywhere but here, but maybe that would help.
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Old 10-03-2012, 09:36 PM   #17
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True, but in her OP, she says:

So, she's not underwater. I have no idea about refinancing anywhere but here, but maybe that would help.
You're right. My brain totally read that line as "we owe more than it's worth". Clearly it had a processing hiccup. Definitely look into refinancing.

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Old 10-03-2012, 09:40 PM   #18
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Re: Can I get some ideas of what to trim please?

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Something to check into right away - here Verizon gives you 30 days before you are actually locked into a new contract. You might be able to return the phone & cancel the contract and just pay a $30 restocking fee.
Oh that would be so good - I will check that out. thankyou.

nzmum - food is shocking - I already make everything from scratch and am also looking at growing vegies (but that requires an outlay too).

We were doing fine but dh lost a contract and it's just stuffed everything up.

I just called the insurance company and raised our excesses on both the car and the house, it will mean I really need to get saving up incase something happens but it's saving over $20 a month so I guess every little bit helps.

I am looking into what I can do about my mobile now.

I have no idea if we could refinance or not
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Old 10-03-2012, 10:11 PM   #19
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Re: Can I get some ideas of what to trim please?

Is there any accommodation or income finance available to you?

Is DH running a business from home? can he claim power, phone, cell, part of mortgage, petrol, cars etc? or get a tax exemption for a yr or so?

As for the garden we have an area about the sz of a sm queen bed & we dig it up & last time put in about $40 worth of plants from Mitre 10 & it did the whole summer, we also planted stuff we never used so this time we will only put in what we eat.

We need to cook from scratch more as our food bill is high. I budget $400 a fortnight but it is more like $600+

how old are your kids?
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Old 10-03-2012, 10:29 PM   #20
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Re: Can I get some ideas of what to trim please?

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childcare here is anywhere from $75 a day - it hardly makes it worth me working
This assumes that working automatically means having to pay for childcare and that's not always the case. You can look for something that is opposite your DH's schedule, so that he has the kids when you are at work, then you have the kids while he is at work, no childcare payment necessary. And with that, even if you only make $50 a day, 4 days a week, that's an additional $200 a week or $800 a month. That could make a HUGE difference to your budget.
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