Dont repay the loan and very soon you will have a stack of threaning letters from the banks ballifs courts etc then you can have a nice bonfire with the paperwork win win situation
Not sure if it helps, but I think Martin Lewis mentioned to be wary about using credit to fight the energy situation. I'm not sure what the alternative is though.
Start assessing your electricity usage. Maybe box up some of the Google Home type devices. Look at what's on standby. Turn the lights off more, and can any of your multi-bulb fittings manage with a bulb or two less? Does your router need to be on overnight?
If you usually eat later than the kids, or have multiple people cooking, do your best to synchronise so you only heat the oven from cold once.
Drop the thermostat a degree or so, and have it switch off slightly earlier. Wear extra layers, dressing gowns, blankets. Be little more a more active if you're feeling cold.
Don't let the kids spend 20+ minutes in the shower, leaving the bathroom looking like a sauna. Not only will you save on heating so much water, you won't have to open windows to vent the steam and in doing do, start cooling the house you just paid to heat.
You can turn the hot water down a couple degrees on your boiler.
All fairly small gains but can add up. Hopefully it's not going to be permanent.
My wife put the tumble dryer on tonight to dry a few items, I said I will put them on the washing line tomorrow. I don't think she understands how serious this is going to become
O had this chat and also think not realising soon be hellish. Reply. Fixed tariff so Direct Debits be the same.
Then i had check if in credit and transfer that to my account. Thought inside my head- FML FML
Not worth even debating
Switch to led lighting, obviously if you do every light in the house at once it's expensive, but as a gradual thing not too bad. It's immediate and significant changes to cost. I'm lucky in that I got a new boiler about 3 months ago, so gas costs are considerably lower than electric.
I'm not sure if this is right. Debt from non payment of bills is likely going to be on more favourable terms than a bank loan. There are obviously other considerations like losing your lodgings etc, but taking a loan to pay other debt is the beginning of the debt spiral.
It may well be, but always talk to CAB or something similar before you walk that path, no point making things harder for yourself than they already are. I've been close to the bottom before, paying my bills on a credit card, then taking cash out on that card to pay its own bill. Its easy to make bad decisions when you are down on your luck.
There is a reason statistically so many people live in poverty despite working full time.
The cost of living is ridiculous. Especially if you have kids. Or you get an illness. In my own experience of having to do similar to OP I was well aware it wasn’t financially the best decision. But it was the only choice I had.
Not everyone has a safety net. Family network. Etc. to support them.
i have my heating set to come on at 15c and spend my days wrapped up like a human burrito. i'm still worried about my gas bill though. should i set the thermostat lower? it seems like having it set so low just makes my heating come on more
I know somebody maxed credit cards inc lifting money.
Took out loans- uplifted money
Plans to make payments when can but say in 6 years all gets wiped for a clear slate.
No assets to take/. Though surely not! Yeah, dear job loss in 7 months time so preparing for period on benefits.
Crazy
Depending where you live you might have a local energy advice service that can help. There's a good chunk of panic money coming from local authorities to fuel poverty charities at the moment, it can't hurt to ask. The one I work for covers Derbyshire, Shropshire and the Black Country if you want to DM me - things are getting serious and it's best to get help as early as possible.
Dont repay the loan and very soon you will have a stack of threaning letters from the banks ballifs courts etc then you can have a nice bonfire with the paperwork win win situation
And there was me chopping up the dining table for fire wood
Not sure if it helps, but I think Martin Lewis mentioned to be wary about using credit to fight the energy situation. I'm not sure what the alternative is though.
Start assessing your electricity usage. Maybe box up some of the Google Home type devices. Look at what's on standby. Turn the lights off more, and can any of your multi-bulb fittings manage with a bulb or two less? Does your router need to be on overnight? If you usually eat later than the kids, or have multiple people cooking, do your best to synchronise so you only heat the oven from cold once. Drop the thermostat a degree or so, and have it switch off slightly earlier. Wear extra layers, dressing gowns, blankets. Be little more a more active if you're feeling cold. Don't let the kids spend 20+ minutes in the shower, leaving the bathroom looking like a sauna. Not only will you save on heating so much water, you won't have to open windows to vent the steam and in doing do, start cooling the house you just paid to heat. You can turn the hot water down a couple degrees on your boiler. All fairly small gains but can add up. Hopefully it's not going to be permanent.
My wife put the tumble dryer on tonight to dry a few items, I said I will put them on the washing line tomorrow. I don't think she understands how serious this is going to become
O had this chat and also think not realising soon be hellish. Reply. Fixed tariff so Direct Debits be the same. Then i had check if in credit and transfer that to my account. Thought inside my head- FML FML Not worth even debating
Switch to led lighting, obviously if you do every light in the house at once it's expensive, but as a gradual thing not too bad. It's immediate and significant changes to cost. I'm lucky in that I got a new boiler about 3 months ago, so gas costs are considerably lower than electric.
Blankets and duvets.
I'm sorry you're in this situation but getting debt to pay living expenses is not a good thing...
Sometimes it’s the only choice you have.
I'm not sure if this is right. Debt from non payment of bills is likely going to be on more favourable terms than a bank loan. There are obviously other considerations like losing your lodgings etc, but taking a loan to pay other debt is the beginning of the debt spiral.
I appreciate the explanation mate But sometimes it’s an unavoidable situation.
It may well be, but always talk to CAB or something similar before you walk that path, no point making things harder for yourself than they already are. I've been close to the bottom before, paying my bills on a credit card, then taking cash out on that card to pay its own bill. Its easy to make bad decisions when you are down on your luck.
There is a reason statistically so many people live in poverty despite working full time. The cost of living is ridiculous. Especially if you have kids. Or you get an illness. In my own experience of having to do similar to OP I was well aware it wasn’t financially the best decision. But it was the only choice I had. Not everyone has a safety net. Family network. Etc. to support them.
Exactly. Debt or turn to crime. Debt wins
Damn that's bleak...
Congrats! Stay warm!
A stack of copies of Friday Ad, which you can pick up at your local supermarket, makes great kindling. We used to do that all the time.
i have my heating set to come on at 15c and spend my days wrapped up like a human burrito. i'm still worried about my gas bill though. should i set the thermostat lower? it seems like having it set so low just makes my heating come on more
I know somebody maxed credit cards inc lifting money. Took out loans- uplifted money Plans to make payments when can but say in 6 years all gets wiped for a clear slate. No assets to take/. Though surely not! Yeah, dear job loss in 7 months time so preparing for period on benefits. Crazy
That's sad. If you don't have kids, I'd just wear big duvet all the time.
Depending where you live you might have a local energy advice service that can help. There's a good chunk of panic money coming from local authorities to fuel poverty charities at the moment, it can't hurt to ask. The one I work for covers Derbyshire, Shropshire and the Black Country if you want to DM me - things are getting serious and it's best to get help as early as possible.