Get over it, get happy, get healthy, get a life...
Snaggles
Posts: 19,503 Forumite
Helloooooo 
As some of you already know, I separated from my husband back in October, and have been sort of struggling along since then, not really knowing where my money was going, or having a clear idea of a budget. My New Year's Resolution was to 'Get over it, get happy, get healthy, get a life', so one of my first steps towards that is to get back on top of my finances.
I had to buy a car, so am back in debt by about £3k, although this was borrowed from the offset loan, and I'm currently just covering the interest on it (included in my mortgage payment).
There are certain things missing from my SOA - car insurance (paid upfront from the £3k but will need to include later in the year) plus other car-related expenses (MOT, tax etc).
There's nothing included for socialising/clothes/presents/haircuts etc, but obviously I will have to find the money for these somehow. Also most of the childcare is deducted from my salary before I get it, apart from school holiday care for Ryan, which is why it sounds low (and also why my salary sounds low).
A few things are also higher than they should be but I'll cover those at the end.
So here's my new SOA - please be gentle!
I know it needs work and I'm finally feeling ready to tackle it, so this is just how it stands NOW, not how I want it to look.
Income
Outgoings
Council tax is just a guess as I wont get the bill till April, same with water.
Gas and electricity are high because my central heating/hot water has been dodgy all winter, using too much gas at first by being on full blast constantly, and then packing in completely meaning we had to use electric heaters for a couple of months. Now it's fixed, those payments should reduce once they next review them (although if I notice I'm going into credit, I'll ring and request a reduction myself).
Telephone/TV/Internet and mobile bills are all high due to an unexpected long distance relationship (very on/off, currently off, but still in touch as friends). I have changed my packages to include some extra calls, so both of these should reduce.
So as you can see, we are managing.......just. But there's very little to spare, and when my income reduces (my working tax credit will be less from April), there will be absolutely nothing.
I'm going to use this to keep track of things and motivate myself to do something about it before it becomes a major problem. Any help/encouragement/kicks up the backside/jaffa cakes gratefully appreciated.
As some of you already know, I separated from my husband back in October, and have been sort of struggling along since then, not really knowing where my money was going, or having a clear idea of a budget. My New Year's Resolution was to 'Get over it, get happy, get healthy, get a life', so one of my first steps towards that is to get back on top of my finances.
I had to buy a car, so am back in debt by about £3k, although this was borrowed from the offset loan, and I'm currently just covering the interest on it (included in my mortgage payment).
There are certain things missing from my SOA - car insurance (paid upfront from the £3k but will need to include later in the year) plus other car-related expenses (MOT, tax etc).
There's nothing included for socialising/clothes/presents/haircuts etc, but obviously I will have to find the money for these somehow. Also most of the childcare is deducted from my salary before I get it, apart from school holiday care for Ryan, which is why it sounds low (and also why my salary sounds low).
A few things are also higher than they should be but I'll cover those at the end.
So here's my new SOA - please be gentle!
I know it needs work and I'm finally feeling ready to tackle it, so this is just how it stands NOW, not how I want it to look.Income
- Salary - 350.00
- Maintenance - 150.00
- Child Benefit - 125.00
- Working tax credit - 224.00
- Child tax credit - 470.00
Outgoings
- Mortgage - 280.00
- Council tax - 65.00
- Electricity - 60.00
- Gas - 55.00
- Water - 30.00
- Telephone/Internet/TV - 65.00
- Mobile - 45.00
- TV Licence - 12.00
- Food - 290.00
- Petrol - 60.00
- House Insurance - 18.00
- Life Insurance - 21.00
- Contact lenses - 13.00
- Lottery - 5.00 (work syndicate - can't leave mid-year)
- MRP - 12.00
- Charity donation - 5.00
- Childrens savings - 20.00
- Gym - 22.00
- Childcare - 39.00
Council tax is just a guess as I wont get the bill till April, same with water.
Gas and electricity are high because my central heating/hot water has been dodgy all winter, using too much gas at first by being on full blast constantly, and then packing in completely meaning we had to use electric heaters for a couple of months. Now it's fixed, those payments should reduce once they next review them (although if I notice I'm going into credit, I'll ring and request a reduction myself).
Telephone/TV/Internet and mobile bills are all high due to an unexpected long distance relationship (very on/off, currently off, but still in touch as friends). I have changed my packages to include some extra calls, so both of these should reduce.
So as you can see, we are managing.......just. But there's very little to spare, and when my income reduces (my working tax credit will be less from April), there will be absolutely nothing.
I'm going to use this to keep track of things and motivate myself to do something about it before it becomes a major problem. Any help/encouragement/kicks up the backside/jaffa cakes gratefully appreciated.
"I wasn't wrong, I just wasn't right enough."
:smileyhea
9780007258925
0
Comments
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Good luck Snags, you know the SOA drill by now I'm sure
Did you get any further with Ryan's DLA?No longer using this account for new posts from 20130 -
**passes the jaffa cakes over**
Right - food - £290 is a LOT........My budget is less than that for 2 adults and three very sporty teenagers........get you a meal planning my girl!
Seriously, though, I think that your grocery budget is probably the area for the biggest and easiest saving........other than that, it looks more or less fine to me!!Successful women can still have their feet on the ground. They just wear better shoes. (Maud Van de Venne)Life begins at the end of your comfort zone (Neale Donald Walsch)0 -
Happy shiny new diary Snaggles I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
whooooo hoooo a new diary to [STRIKE]corrupt[/STRIKE]join in on:T :T :T:heartpulsOnce a Flylady, always a Flylady:heartpuls0
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Thanks Gemmzie. I didn't apply in the end to be honest, because the obvious physical signs (bedwetting etc) have been corrected by medication at the moment, and the major issues now are all behavioural, which I'm worried I can't 'prove'. His worst behaviour is generally reserved for when he is at home (particularly when he is at Stu's still, even though they are getting on better), and school wont acknowledge there's a problem (despite him being in trouble EVERY day and refusing to go every morning). None of the doctors or specialists that have seen him have ever seen the scary, violent, heartbreaking worst bits of his condition."I wasn't wrong, I just wasn't right enough.":smileyhea97800072589250
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You're right, it's a lot - I've just based that on what I've been spending, which has included a lot of 'cheat' meals (stuff that's still healthy but pre-prepared), because I needed to feed the kids properly but wasn't really up to cooking from scratch.**passes the jaffa cakes over**
Right - food - £290 is a LOT........My budget is less than that for 2 adults and three very sporty teenagers........get you a meal planning my girl!
Seriously, though, I think that your grocery budget is probably the area for the biggest and easiest saving........other than that, it looks more or less fine to me!!
Now I'm feeling a lot stronger and able to cope, so I think that could be reduced quite a lot (it does include cleaning products, nappies, toiletries etc, but I still think there is room for reduction).
Keep bringing the jaffa cakes though - that'll save me a fortune..
"I wasn't wrong, I just wasn't right enough.":smileyhea97800072589250 -
Thanks Beanie and Jinky, behave yourself
"I wasn't wrong, I just wasn't right enough.":smileyhea97800072589250 -
Moi?
I is an angel
i am not the one who posts piccies of men in my underwear
:heartpulsOnce a Flylady, always a Flylady:heartpuls0 -
I haven't read your earlier thread but just to say you need to include all the things like car insurance, MOT, car tax, clothes , xmas and birthdaty costs in your budget etc because you need to start saving up the monthly amounts NOW so you will be able to pay the bills then they come in. .. in fact especially so as you say your income is due to fall in April: otherwise you will need to get another loan to pay for them.0
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Hiya
Just wanted to add a :wave: for your new thread. Looking forward to you keeping us all up to date! Any spare jaffas cakes? I'll pass the thornton's chocs xx0
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