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  • FIRST POST
    • dobbadobbs
    • By dobbadobbs 16th Oct 16, 8:05 AM
    • 73Posts
    • 1Thanks
    dobbadobbs
    Am I paying too much?
    • #1
    • 16th Oct 16, 8:05 AM
    Am I paying too much? 16th Oct 16 at 8:05 AM
    Hi all

    Just trying to scrutinise finances:

    3 bed semi, early 30's.

    Energy £852 per year
    B&C Insurance- £250 per year
    Life Insurance - £387 per year
    Car Insurance - £200 per year
    Shopping - £280-£320 per month

    Anything look excessively high?

    Thanks !
Page 1
    • DrWatson1
    • By DrWatson1 16th Oct 16, 8:44 AM
    • 53 Posts
    • 31 Thanks
    DrWatson1
    • #2
    • 16th Oct 16, 8:44 AM
    • #2
    • 16th Oct 16, 8:44 AM
    Number/age of people living at the property?
    • dobbadobbs
    • By dobbadobbs 16th Oct 16, 8:50 AM
    • 73 Posts
    • 1 Thanks
    dobbadobbs
    • #3
    • 16th Oct 16, 8:50 AM
    • #3
    • 16th Oct 16, 8:50 AM
    Thanks for reply

    Family of 4 - 2 adults (30's) 2 children under 5
    • determined new ms
    • By determined new ms 16th Oct 16, 9:01 AM
    • 5,569 Posts
    • 29,559 Thanks
    determined new ms
    • #4
    • 16th Oct 16, 9:01 AM
    • #4
    • 16th Oct 16, 9:01 AM
    I think it depends on your income and how comfortable you are. You could bring your grocery bill down but if you don't need to and eat well/healthily do you need to? there are 2 adults & one 3 1/2 yo in our household and I spend £180 pm on groceries

    your energy looks good. But are there any things you could look to do to reduce it? I've been doing this for a couple of months - just looking for small ways to reduce usage and yesterday I got an email from my supplier saying they are reducing our monthly dd from £88pm to £66.
    Last edited by determined new ms; 16-10-2016 at 9:04 AM.
    Debt to Bank of oh Mum: £4200/£5700
    Wombling 2016 £263.42 Roadkill £27.21
    • dobbadobbs
    • By dobbadobbs 16th Oct 16, 9:10 AM
    • 73 Posts
    • 1 Thanks
    dobbadobbs
    • #5
    • 16th Oct 16, 9:10 AM
    • #5
    • 16th Oct 16, 9:10 AM
    I'm the sole earner at the moment while wife looks after DD.

    Grocery - I think we can be more savvy, too often we just buy the ingredients without pinpointing individual meals.

    Energy - we have a lot of spotlights so gradually replacing the halogens for LED. Hopefully this pays off.
    • Peter333
    • By Peter333 16th Oct 16, 9:39 AM
    • 1,720 Posts
    • 5,406 Thanks
    Peter333
    • #6
    • 16th Oct 16, 9:39 AM
    • #6
    • 16th Oct 16, 9:39 AM
    Hi all

    Just trying to scrutinise finances:

    3 bed semi, early 30's.

    Energy £852 per year
    B&C Insurance- £250 per year
    Life Insurance - £387 per year
    Car Insurance - £200 per year
    Shopping - £280-£320 per month

    Anything look excessively high?

    Thanks !
    Originally posted by dobbadobbs
    You're not going into much detail to be frank, as we don't know what kind of area you live in, what part of the country, or where it's situated, (like is it in a cul de sac or on an A road?) So it's hard to say if the B & C insurance is OK or not, OR the car insurance. Is it the house that is 'early 30s,' or you???

    And is your car parked on the drive, on the road, in a garage? How many miles a year do you drive? Do you use it for personal use only, and just to get to and from work? Having said that, £200 a year sounds OK to me.

    £300 a month for just grocery? Or is that including takeaways, clothes, pub nights out, booze, cinema, kids school meals? Either way, if it's only grocery, (and toiletries, and things like detergents and washing up liquid, etc,) then £300 a month is good.

    Less than £75 a week for a family of 4 is fine. You can improve it if you want, but it's up to you. I am sure you will get some people saying they spend £15 a week on a family of 4, but then, some spend £120. There is no right or wrong.

    I know someone who crows that they spend only £30 a week on food for her and her husband and 2 kids, but spends £15 a week on a gym, and £30 a week on smokes, whilst he won't buy a pair of shoes or an outfit, unless it's a top name brand.

    Your energy bill sounds OK for a 3 bed semi for a family of four. £70 a month for gas and electric is not bad for such a property/family. Again, you can crop it if you leave the heating off more, and don't leave things switched on (obviously,) but IME, switching suppliers (as some people suggest,) is futile, as they are pretty much all the same.
    As of 25th October 2016, I am not participating in this site. Until MSE sorts out the issue with insidious trouble-makers, it's no longer a place I wish to be. I can't be bothered with the constant battle with trolls.

    MSE is not a nice place to be at the moment, and hasn't been for a while now. So I'm outta here for the foreseeable future.
    • -taff
    • By -taff 16th Oct 16, 10:41 AM
    • 6,468 Posts
    • 3,735 Thanks
    -taff
    • #7
    • 16th Oct 16, 10:41 AM
    • #7
    • 16th Oct 16, 10:41 AM
    I just got B&C from Privilege for £124. Go to a comparison website, or two, then go to quidco and see if they are offering any money back deals with your preferred insurer.
    I have B&C with accidental cover, but no legal stuff because I get that from the union.
    • datlex
    • By datlex 16th Oct 16, 12:01 PM
    • 1,060 Posts
    • 911 Thanks
    datlex
    • #8
    • 16th Oct 16, 12:01 PM
    • #8
    • 16th Oct 16, 12:01 PM
    I would review your life insurance check what it covers. Are you paying just to cover you or to cover both yourself and your wife?
    • dobbadobbs
    • By dobbadobbs 16th Oct 16, 6:46 PM
    • 73 Posts
    • 1 Thanks
    dobbadobbs
    • #9
    • 16th Oct 16, 6:46 PM
    • #9
    • 16th Oct 16, 6:46 PM
    Hi all

    Appreciate the advice!

    Few things to consider - life insurance policy is a joint policy so need to look at that with aviva. Will have a look at privilege (cheers taff)

    Peter333 - some great points, some of which I haven't considered but also reassurance that I'm there or thereabouts with the costs.

    Thanks all
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