IMPORTANCE of examining your finances

Discussion in 'Motorhome Chat' started by camperlove, Aug 5, 2016.

  1. camperlove

    camperlove Funster

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    I found out that a 67yr old church lady, who is waiting for a hip operation, had started a cleaning job 3 times a week, as she was paying £50 a month on interest. Also her husband is off to America for two weeks without her, as he thinks he is SERIOUSLY ill needing a valve.

    Thinking to myself, you cant walk dear, how on earth can you clean. Why isn't your husband/kids/family helping you. Or are you doing the cleaning to socialise.
    It lead to me "going over her finances". She thought I was just going to clear the debt for her. I said no, I need to know how you going to pay me back. The way I see the situation at present, is even if I cleared the debt, next month you will be in debt again, because your outgoings are more than you income.

    We cancelled her £45 direct debits to charities.
    Transferred her credit card to a 4 year interest free card. Saving another £50 pounds.
    I discovered that she had TWO direct debits going out, for her mobile phone, totalling £38 pounds, when she only texts and makes a few calls. So will meet up again to switch her to a sim only contract for £10 saving her £28 pounds.
    Paid off her current account overdraft, saving another £48 pounds.
    Total saved £171 a month.
    NOW she can afford to pay me off and DOESNT need to work if she doesn't want to.

    Then I worked out she has possibly been underpaid, by £58 last month. But she didn't write her hrs down. We did a little work book to keep in her bag, to note date, hrs worked, and place worked for me to check next month she received correct wages, if she decides to continue work.

    Being old school, she does not understand the internet, did not know about the min wage, did not know about 0 percent interest credit cards, and did not know that needing a valve now adays is not serious.

    Having an old spare lap top, I offered to show her how to research all future information.

    STORY. Keep updated with newer trends, get someone else to look at your finances, learn how to use the internet for research.
     
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  2. jenny and mitch

    jenny and mitch Funster

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    VERY well done for your altruism.
    Mitch. x.
     
  3. Langtoftlad

    Langtoftlad Funster Life Member

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    Unfortunately - some people, old & young, are just crap with money :frowny:.
    Good advice though (y).

    (I'm rubbish at New Year resolutions, not great at actual Spring Cleaning etc etc but I do review the finances every year - and keep an eye on MoneySavingExpert.com).
     
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  4. Snowbird

    Snowbird Funster Life Member

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    That reminds me, have not had a pocket money rise for some time.
     
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  5. Figaro

    Figaro Funster

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    Don't get the bit about husband going to US for valve ?
    Why would he do that, sounds more like he's going to US for good time whilst Mrs sorts the money
     
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  6. scotjimland

    scotjimland Funster Life Member

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    Well done for helping her out (y)

    however..

    plenty of the 'old school' use the internet.. self included, and older than 67

    by the same token, there are many 'young school' who can't read or write.. or do simple arithmetic without a calculator ..

    age is no indication of abilities, nor an excuse for not keeping up to speed with technology
     
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  7. camperlove

    camperlove Funster

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    Apparently the husband thinks he is seriously ill, and is in the USA with his brother trying to cram a lot into his life before he collapses.
     
  8. MichaelT

    MichaelT Funster

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    Whilst I admire your helping the lady what I don't understand is how she has to work while Hubby is off the the US?
     
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  9. Figaro

    Figaro Funster

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    So he's Off to US spending money they need for other things like debts while she works as a cleaner.
    Couldn't he get proper diagnosis for illness and treatment instead ?
    Hot footing around US seems a strange reaction to a treatable illness
     
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  10. camperlove

    camperlove Funster

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    true, but its a bit hard when your husband wont let you use his computer, you don't have your own to learn on, and you don't know where to start with the internet, age concern is miles away, and you live in the country with little busses, and WOMEN in those days were brought up to be dependant on their husbands.
    That's why im going to teach her the basics of logging on and doing research. My dad learnt the internet in his 70s, and went on to learn how to download music and movies.
    Everyone needs someone to start them off ie, where is the power button, I had a page and now its gone, what is the arrow for. etc
     
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  11. MH 55 FUN

    MH 55 FUN Funster

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    The absent husband '' thinks '' he's seriously ill ?

    He either is seriously ill or he isn't . . & if he is, he is going to be incapable of cramming much into his remaining years, as most seriously ill people are in a hospital bed, or confined to a wheelchair or homebound, surely he should be seeking medical attention in the U.K. rather than being in the U.S.A.
     
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  12. jenny and mitch

    jenny and mitch Funster

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    This lady is the innocent party in this and hats off to you Camperlove for helping her..
    Mitch. x.
     
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  13. MichaelT

    MichaelT Funster

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    Or playing a game with her!!
     
  14. camperlove

    camperlove Funster

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    That's what I couldn't understand either when I found out she cleaning and he in the USA. Getting to know her, they are "old school".
    He has a full pension, and a good job and pays all the bills, giving her food money for the two of them.
    She has a pension, about 300 pounds a month, cleans her inlaws house for £30 a week, and receives the allowance for food and baby sat the grandkids while the kids work for free. Out of her pension, she needs to insure, repair her own car, petrol, buy the families birthday and xmas presents, have her hair done etc. Basically her money is her own to spend on herself.

    Her debt slowly gained over 10 years. Usually over the xmas period, and collecting the grandkids and dropping them off, and entertaining them, lending money to the kids here and there, without getting paid back. Once you start going overdraft its expensive, and being on an old credit card, the interest rate was over 35 percent. The one she will be getting will be 18. something interest after 4 years.

    Hubby thinks her debt is her problem. She certainly doesn't waste her money, theres not big transactions on her statements. He wants to CATCH up on life he missed out on before he collapses. She is a very passive lady.
     
  15. Langtoftlad

    Langtoftlad Funster Life Member

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    Sounds like this woman has a few more issues than just financial - starting with her husband :rolleyes:
     
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  16. The Wino

    The Wino Funster

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    Get her on a dating site sounds like she could do with a husband swap!!!
     
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  17. jenny and mitch

    jenny and mitch Funster

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    ????????????
     
  18. Puddleduck

    Puddleduck Funster

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    Or "I can't find the "any" key".
     
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  19. camperlove

    camperlove Funster

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    There isn't anything seriously wrong with him for him to get further diagnosis. Its a straight forward op nowadays. Hes playing on her ignorance. She is very passive. If she had internet, all this information would be at her fingertips, along with other information.
     
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  20. MH 55 FUN

    MH 55 FUN Funster

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    I smell a rat - the absent husband.
     
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