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  • FIRST POST
    • Hey!teacher!
    • By Hey!teacher! 19th Mar 17, 8:31 AM
    • 18Posts
    • 7Thanks
    Hey!teacher!
    My SOA
    • #1
    • 19th Mar 17, 8:31 AM
    My SOA 19th Mar 17 at 8:31 AM
    Hoping for some suggestions on how we can save extra from this, whilst it might seem we have cash left over most months at the moment we are paying off a huge mortgage, are trying to improve our new house with most spare cash going on that, have little to no savings and a 7 year old car which whilst fine now isn't going to last forever, ideally I'd like to overpay the mortgage and save for a new car, plus have some in a rainy day fund but most months I'm counting down the day till payday!

    I appreciate we are in a much better position than most but I'd like to be able to consider dropping a day at work a month and it isn't going to happen the way things are, we are both working like dogs but just seem to have so little in comparison to friends who have 2 cars, eat out all the time, go on proper holidays (we generally go camping a few times a year but last year didn't go anywhere, I've budgeted for a trip away this year as it's my 40th but so far we don't have the money for it!)

    Would appreciate anyone's thoughts, thanks




    Statement of Affairs and Personal Balance Sheet

    Monthly Income Details
    Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 4,700.00
    Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
    State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 137.00
    Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Monthly Expense Details

    In Your Home

    Mobile phones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00
    TV licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
    Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Home phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Cleaning products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
    Garden maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    Household maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190.00
    Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Council tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207.00
    Overdraft cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Bank account fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
    Home insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46.00
    Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,465.00
    Plumbing/Boiler cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
    Mortgage life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.00
    Mortgage payment protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Food and household shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 350.00
    Drinks for home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00

    Motoring & Public Transport

    Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180.00
    Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Car tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.00
    Car insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33
    Car maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37.50
    Rail/Buses/Taxis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Breakdown cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Debt Repayments

    Credit card repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.00
    Hire purchase repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Personal loan repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Car loan repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Savings & Investments

    Pension payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Buying shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
    Cash ISAs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Lump sum saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Regular saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Family

    Pet food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    School trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.83
    School meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Pocket money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Nappies/Baby extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Laundry/Dry cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Children's travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Baby-sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Childcare/Playgroups. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400.00
    Pet insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Travel insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Entertainment

    Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.00
    Family days out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
    Cinema/Theatre trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
    Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    Big days out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
    Shopping for fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Pet costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.00
    Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    IT/Computing (antivirus, etc) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    DVD rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Drinking out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300.00
    Eating out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00

    Clothes, Health & Beauty

    Complementary therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
    Optical bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32.50
    Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Beauty treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.50
    Healthcare cash plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Dental insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private medical insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67
    Work clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    New children's clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
    New clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67

    Education & Courses

    University tuition fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Your courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Big One-Offs

    Funeral expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Wedding expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
    Winter holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Summer holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166.67
    Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55.00

    Odds & Sods

    Newspapers and magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
    Regular charity donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
    Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00


    Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,837.00


    Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,259.79


Page 1
    • ceb1995
    • By ceb1995 19th Mar 17, 8:41 AM
    • 102 Posts
    • 91 Thanks
    ceb1995
    • #2
    • 19th Mar 17, 8:41 AM
    • #2
    • 19th Mar 17, 8:41 AM
    Have I misread £300 on drinking out? Swapping that for a cheaper activity or stopping drinking completely even for a month would save you plenty. Tv costs you can cut out and swap for a cheaper subscription like nowtv for example, complimentary therapies could be done at home for cheaper.
    Earnings 2017:
    Swagbucks £26
    Cashback: £27.04
    March 17:
    NSD's 2/10
    • Hey!teacher!
    • By Hey!teacher! 19th Mar 17, 8:55 AM
    • 18 Posts
    • 7 Thanks
    Hey!teacher!
    • #3
    • 19th Mar 17, 8:55 AM
    • #3
    • 19th Mar 17, 8:55 AM
    That should have been a year, and I think even then I might be overestimating! We have 2 young children and probably go out together once every couple of months and then alone maybe 3 times a year each. Generally for meals so it's hard to split the cost down.
    So it's more like 30 a month max.
    • Hey!teacher!
    • By Hey!teacher! 19th Mar 17, 8:59 AM
    • 18 Posts
    • 7 Thanks
    Hey!teacher!
    • #4
    • 19th Mar 17, 8:59 AM
    • #4
    • 19th Mar 17, 8:59 AM
    Tv - we have freeview smart tv, plus a download subscription which I think youre right we should cancel. That would save about 20 a month.
    We have a funny situation with WiFi in that we are so far from civilisation (2 miles....) that the broadband is so slow we couldn't get bt and it be worth the cost, so we use a Mifi using 4g from ee and we download stuff to watch or use the smart tv functions. It works fine and is our cheapest option.
    • Hey!teacher!
    • By Hey!teacher! 19th Mar 17, 9:00 AM
    • 18 Posts
    • 7 Thanks
    Hey!teacher!
    • #5
    • 19th Mar 17, 9:00 AM
    • #5
    • 19th Mar 17, 9:00 AM
    I see an osteopath up to every 6 weeks but I can claim it back from health insurance up to a certain amount. Pretty much useless without it as have bad back pain.
    • Dobbibill
    • By Dobbibill 19th Mar 17, 9:08 AM
    • 2,039 Posts
    • 3,153 Thanks
    Dobbibill
    • #6
    • 19th Mar 17, 9:08 AM
    • #6
    • 19th Mar 17, 9:08 AM
    What do you do with the surplus income?
    You say on paper you should have x amount left but are left counting down until pay day - this means your SOA is not accurate.

    Keep a spending diary and find out where you loosing several hundred pounds a month.

    You have put loan/CC payments down but not the total owed or the APR - this will get you some tailored advice if you can add this.

    Don't compare yourselves to your friends - they may be up to their eyes in debt and telling you everything is rosy.
    • Steveman223
    • By Steveman223 19th Mar 17, 9:09 AM
    • 3 Posts
    • 2 Thanks
    Steveman223
    • #7
    • 19th Mar 17, 9:09 AM
    • #7
    • 19th Mar 17, 9:09 AM
    I don't know how your friends are but in my experience. Do not compare to others. Sure they may eat out and vacation a lot but are they doing it with cash in their pocket? or racking up debt while doing it? I know a lot who have an abundance but only cuz of debt. Plus comparing makes this journey much harder.

    I would brainstorm with your partner on ways of maybe saving money or making extra. To get myself out of debt I volunteered for a 3-month business trip across the world to make extra money. Not everyone has this option but what I am trying to get at is look for options and that might mean making a hard choice now so life is better in the future. It sucks not being home with my girlfriend and her kids. When I get home I plan on working hard still but also make some items I like to do as a hobby and try to sell them on the side.

    I hope that helps somewhat. Just keep trying...push. never give up hope.
    It's all in the mind. Life will throw everything it has at you but how you tackle these issues is what matters. Never give up. Always push on.
    • Makethedayscount
    • By Makethedayscount 19th Mar 17, 9:31 AM
    • 4 Posts
    • 3 Thanks
    Makethedayscount
    • #8
    • 19th Mar 17, 9:31 AM
    • #8
    • 19th Mar 17, 9:31 AM
    Have you thought about ways in which you can cut down your grocery bill? Not sure how many you ar
    • Makethedayscount
    • By Makethedayscount 19th Mar 17, 9:36 AM
    • 4 Posts
    • 3 Thanks
    Makethedayscount
    • #9
    • 19th Mar 17, 9:36 AM
    • #9
    • 19th Mar 17, 9:36 AM
    (Sorry! )..are but looks like you could save some money there. Average family is supposed to spend about £80 a week (I think). There are great ideas on how to save on the old style board.
    • zippygeorgeandben
    • By zippygeorgeandben 19th Mar 17, 9:44 AM
    • 442 Posts
    • 482 Thanks
    zippygeorgeandben
    £26 on pet related things but no pet insurance?
    End of Sep 2016 End of Feb 2017 £8236.57 £7123.52 (Tesco 4.8%) £6185.75 £4965.75 (Zopa 4.0%) £5344.50 £3200 (VirginMoney 0% until 07/17) Total debt £19.766.82 £15,289.27 Bronze Pay £1344.50 off CC by Sep 2017 SMASHED! Silver Pay £1844.50 by Sep 2017 EASY! Gold Pay £2344.50 by Sep 2017 DONE! Platinum Pay £2844.50 by Sep 2017
    • cms-help
    • By cms-help 19th Mar 17, 9:49 AM
    • 118 Posts
    • 115 Thanks
    cms-help
    Hoping for some suggestions on how we can save extra from this, whilst it might seem we have cash left over most months at the moment we are paying off a huge mortgage, are trying to improve our new house with most spare cash going on that, have little to no savings and a 7 year old car which whilst fine now isn't going to last forever, ideally I'd like to overpay the mortgage and save for a new car, plus have some in a rainy day fund but most months I'm counting down the day till payday!

    I appreciate we are in a much better position than most but I'd like to be able to consider dropping a day at work a month and it isn't going to happen the way things are, we are both working like dogs but just seem to have so little in comparison to friends who have 2 cars, eat out all the time, go on proper holidays (we generally go camping a few times a year but last year didn't go anywhere, I've budgeted for a trip away this year as it's my 40th but so far we don't have the money for it!)

    Would appreciate anyone's thoughts, thanks




    Statement of Affairs and Personal Balance Sheet

    Monthly Income Details
    Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 4,700.00
    Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
    State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 137.00
    Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Monthly Expense Details

    In Your Home

    Mobile phones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00 (this is expensive even if it's for 2 phones)
    TV licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
    Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Home phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Cleaning products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
    Garden maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    Household maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190.00 (this is a huge bill - why?)
    Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Council tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207.00 (must be a massive property?)
    Overdraft cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Bank account fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 (what do you get for this?)
    Home insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46.00 (we pay less than half and have unlimited coverage - shop around)
    Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,465.00
    Plumbing/Boiler cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
    Mortgage life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.00
    Mortgage payment protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Food and household shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 350.00 (you can save with this)
    Drinks for home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00 (this is a lot if you're trying to save/overpay mortgage etc)

    Motoring & Public Transport

    Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180.00 (how many vehicles?)
    Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Car tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.00
    Car insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33
    Car maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37.50 (do you actually save this every month?)
    Rail/Buses/Taxis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Breakdown cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Debt Repayments

    Credit card repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.00
    Hire purchase repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Personal loan repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Car loan repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Savings & Investments

    Pension payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Buying shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 (what is this for - where is the asset?)
    Cash ISAs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Lump sum saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Regular saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Family

    Pet food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    School trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.83
    School meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Pocket money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Nappies/Baby extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Laundry/Dry cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Children's travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Baby-sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Childcare/Playgroups. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400.00 (how old are the children? Do you get any free hours as it goes up to 30 in Sept for 3 year olds?)
    Pet insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Travel insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Entertainment

    Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.00
    Family days out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
    Cinema/Theatre trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
    Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    Big days out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
    Shopping for fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Pet costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.00
    Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    IT/Computing (antivirus, etc) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    DVD rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Drinking out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300.00 (a month?
    Eating out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00

    Clothes, Health & Beauty

    Complementary therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
    Optical bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32.50 (every month?)
    Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Beauty treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.50
    Healthcare cash plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Dental insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Private medical insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67
    Work clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    New children's clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
    New clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67

    Education & Courses

    University tuition fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    School fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Your courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00

    Big One-Offs

    Funeral expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Wedding expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
    Winter holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Summer holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166.67
    Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55.00

    Odds & Sods

    Newspapers and magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
    Regular charity donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
    Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00 (take your own)
    Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00


    Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,837.00


    Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,259.79


    Originally posted by Hey!teacher!
    Even though your income exceeds your expenses, there is an awful lot that could be trimmed from your budget if you wish.
    • Hey!teacher!
    • By Hey!teacher! 19th Mar 17, 10:08 AM
    • 18 Posts
    • 7 Thanks
    Hey!teacher!
    Hi yes the pet stuff is 8 per cat to cover all flea treatments and vaccines plus
    10 off bills at the vets. Not sure it's worth it, need to see how much the flea stuff would be for 2 cats.
    10 is food, bulk order of good quality cat food ever 4 months or so.
    I think all the spare cash currently is going back the house, we've had a wall knocked down in the kitchen so have had to redecorate, redo the floor. My husband is doing it all and we are doing it as cheaply as possible but then we are just spending as and when we need it. After this though it's two more expensive jobs, Windows to replace and insulation to improve before the winter. redecoration but only doing one room every few months and it's mainly paint. We are in a much bigger house, so had barely any furniture, we are getting secondhand wherever we can but still want to buy what will last rather than replacing again in a few years.

    Food shop yes definitely need to cut down. We just have so little time whilst we try to budget and meal plan I find myself forgetting things and going back 3 x per week then spending more. We shop in aldi mainly but I'm finding their prices are going up and we are spending far too much.
    Re making extra money I'm signed up for some extra work just waiting for it to come through, as an examiner.
    I think I need to get my husband on board, he just uses his card and doesn't think. I take lunches for work but he won't, he'll buy stuff in a supermarket local to work. It's not expensive but it still builds up.
    We are wasting cash just because we are so busy and don't have time to stop and look at it all.
    • cms-help
    • By cms-help 19th Mar 17, 10:34 AM
    • 118 Posts
    • 115 Thanks
    cms-help
    If you re-categorise your SOA, you are spending £815 a month on food and drink.
    • Bedsit Bob
    • By Bedsit Bob 19th Mar 17, 12:16 PM
    • 9,463 Posts
    • 49,665 Thanks
    Bedsit Bob
    It'll be easier to follow, and more detailed (allowing us to offer more relevant advice), if you use the MSE SOA Calculator.

    http://www.stoozing.com/calculator/soa.php
    My job is Top Secret. Even I don't know what I'm doing.

    Amount I have so far denied the BBC - £1161
    • Hey!teacher!
    • By Hey!teacher! 19th Mar 17, 12:19 PM
    • 18 Posts
    • 7 Thanks
    Hey!teacher!
    Just saw the comments in red from cms-help, Lots of things to think about there, thanks.

    Phones, just took something off my bundle to make it 25 a month. Husbands contract is up but I've been nagging him for weeks to sort it and he hasn't. I have a damaged phone on a contract until Oct. Think I'm going to use the insurance that I get from the bank, get a new phone/repair, then as soon as Oct comes round get a sim for half the cost.

    Electric, we were under paying for ages so now we're paying off the debt. Bill is about 120 a month, this is for everything though, no gas here. In the summer we won't pay anything to heat water as it's solar. So I'm hoping after a year we can see it even out.

    Council tax - you're telling me! I hate paying this as the council don't even own the lane our house is on, we do! It's a 4 bed semi! South East. We arecommend also paying a debt as they cooked the payments up. So it will go down after April to 180.

    Hair, my hairdresser seems to put his prices up every time I go, I have short hair so need to get it cut every 8 weeks ish at 40 a go. Add in children's hair at 5 each and husbands at 10 and that's where I'm getting 32 from. I need a new hairdresser!

    Drinking, I put that in wrong it's about 30 a month averaged over the year I guess.

    Childcare is a tricky one. We use vouchers to send youngest to nursery 1 day a week. That costs 200 a month but will go down in Sept 2018 to virtually nothing with the new 30 hrs. My mum does wraparound care, school runs for eldest and 4 days a week term time. I pay her as she gave up work to do this so we support her with costs. We are getting very cheap childcare but it's going to be long term, another 10 years until my youngest can get himself to school and back.

    Car maintenance I save around 200 a month for all big bills. I think I might look at a service plan though to see if that's cheaper.

    Investment is just a child trust fund, the scheme was running when my daughter was born but not for my son, I think theres about 2k in it approx. We really need to start saving for my son, I'd rather put the child benefit into a saving account for them both but it just gets swallowed up with all other costs.

    Lastly our interest rates.

    HP on a bike that my husband uses to commute to work is 0%, it's 2k at 50 a month. Approx 4 years to pay off? He maintains it really well so it should last much longer than that.

    Mortgage is two interest rates, 117k at 2.65% and 170 at 3.09% - both tracked for about 3 years. The lesser interest one is up in 2 years but not sure what to do about it in between, I guess it might make sense to see what interest rates are like and pay more off that one as it's going to track. Or pay more off the bigger sum. Anyway all theory at the momemt as we seem to spend everything!

    I really need to write down everything I spend but the weakest link is my husband who just takes out cash and walks around with pockets of shrapnel and uses his card without thinking.
    • Hey!teacher!
    • By Hey!teacher! 19th Mar 17, 12:24 PM
    • 18 Posts
    • 7 Thanks
    Hey!teacher!
    Food and drink is crazy I know. I think we use it as a way to relax at the weekends, we will cook something nice to eat, bottle of wine, I drink two over the course of a week. Husband has real ale, maybe 4 bottles a night at the weekend. Weve cut down a lots but it did show when we did dry Jan, we had an extra 80 -100 in the bank!
    As I've said though it's not 300 a month on drinking out, if only! Two small kids, rare babysitting...more like 30 a month, if that.
    • DCFC79
    • By DCFC79 19th Mar 17, 1:17 PM
    • 28,728 Posts
    • 18,144 Thanks
    DCFC79
    You can cut the cost of car servicing/mot by doing little bits yourself like replace wiper blades, top up the oil etc, can even see if the council has an mot testing station where they only test the car to paß and arent interested in changing things that aren't needed.

    Oh and you could redo the SOA sgain using the link Bedsit bob said.
    Je Suis Charlie
    • enthusiasticsaver
    • By enthusiasticsaver 19th Mar 17, 2:24 PM
    • 3,054 Posts
    • 5,087 Thanks
    enthusiasticsaver
    I think budgeting is your downfall as you should have a considerable surplus although as you say you have been doing the house up so maybe it has been going on that. Living in the south east is expensive so that does not help.

    My suggestion is that you get much better at budgeting and allocate money for everything including the essential home improvements and personal spends for you and your husband. Tell him he has to live within a budget for personal spends (either one cash withdrawal a week or do as I and my DH do and each have a standing order to our own personal spends account once a month). He has to make that last and we use our joint account only for budgeted categories for bills, house, holidays and cars.

    Maybe your friends either have a smaller mortgage or higher income. No one knows their friends exact circumstances so no point in trying to compare your living standards to them.
    Debt and mortgage free and saving for early retirement
    • enthusiasticsaver
    • By enthusiasticsaver 19th Mar 17, 2:26 PM
    • 3,054 Posts
    • 5,087 Thanks
    enthusiasticsaver
    Get rid of the bank account with the £25 fee. They are very poor value. £300 per year for what?
    Debt and mortgage free and saving for early retirement
    • LabRatty
    • By LabRatty 19th Mar 17, 2:28 PM
    • 49 Posts
    • 67 Thanks
    LabRatty
    Hi,
    As others have said there's a lot that can be trimmed if you have the will to do it, but I see the main issue as communication between the two of you about how you want to live your lives and spend your time. The rest will follow.
    Suggested steps:
    1. keep a spending diary of EVERYTHING that goes out for the next month. Ask OH at the end of each day so there is less likelihood of him forgetting spends.
    2. analyse the results and see where the extra is going.
    3. armed with the evidence, schedule an evening to talk with OH about your joint priorities. Whatever you decide, it has to be something that you do TOGETHER or frustration and conflict will ensue.
    4. put your agreed plan into practice and review at the end of the month. Tweak as required.

    Additionally, beware of the following:
    - it looks as if you have included child benefit in your SOA. On your wage this will be clawed back by the inland revenue.
    - paying your council tax over 12 months instead of 10 may make it easier to budget. Ring the council if you want to do this.
    - do you actually use the gym?
    - consider local f'book selling pages for kids' clothes - round us a carrier bag full can be got for a fiver.
    - comparing yourself with others is a very quick way to end up envious and dissatisfied. You don't know their situations (debts?) and have made your own choices re kids, larger house etc, so enjoy your family and don't be tempted to feel hard done by.

    Wishing you all the best,
    LR
    Save In 2017 #109
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