Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • littlemissbudgetqueen
    • By littlemissbudgetqueen 7th Sep 17, 11:53 AM
    • 10Posts
    • 16Thanks
    littlemissbudgetqueen
    Dreaming of being a budget queen!!!
    • #1
    • 7th Sep 17, 11:53 AM
    Dreaming of being a budget queen!!! 7th Sep 17 at 11:53 AM
    I have been sitting reading through everyone's diaries and it has left me feeling motivated to get myself organised with a diary even if nobody else reads it. Debts/Savings as at today are as follows:


    Car Loan: £624/£14,000
    Barclay CC: £5151.05
    Halifax CC: £3.44
    Loan for Professional Studies: £5851.66/ £8660.00
    Argos Card: £332.95/£372.95
    Mortgage: £66,577.00/House value £125,000.00
    LISA: £150.00
    NS&I: £200.00

    I know where most of the money has gone and it relates to one off expenditure (i.e. Barclaycard was a renovation project) that won't need to happen again but I now want to focus on getting the debt paid off and starting to save. I have already started an excel spread sheet which I use for all budgeting but I always end up having to play around with the figures due to extra spending- going clothes shopping and spending more than I intended or heading out for dinner/getting a takeaway. So really my focus now is to be accountable and I think this diary should help.

    I am 29 and the aim is that by 30 we will be completely debt free (DH and I have joint accounts for everything). We have a couple of holidays already planned over the next year but have made myself a budget for these so that neither will require any credit card spending (that's the aim anyway) so hopefully from today the debt about will continue to decrease.

    So that's me for now - I will do out a SOA in the next post once I figure out where I get the format from and also post my goals for next few months.

    Bye for now x
Page 1
    • Purplemumof2
    • By Purplemumof2 7th Sep 17, 12:12 PM
    • 5,052 Posts
    • 16,601 Thanks
    Purplemumof2
    • #2
    • 7th Sep 17, 12:12 PM
    • #2
    • 7th Sep 17, 12:12 PM
    Hi welcome to Diaryland
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £7400.00 Cap 1: £562.23 BC: £4577.81 Overdraft: £2750.00

    AFD 5/10 NSD 2/10 LTW 10/15

    20p Savers 2017 £2 Savers 2017 50p Savers 2017 SPC 10 2017 #003
    • redofromstart
    • By redofromstart 7th Sep 17, 12:20 PM
    • 316 Posts
    • 1,372 Thanks
    redofromstart
    • #3
    • 7th Sep 17, 12:20 PM
    • #3
    • 7th Sep 17, 12:20 PM
    Hi, and good luck with it. Update regularly and people will come and cheer you along.
    • littlemissbudgetqueen
    • By littlemissbudgetqueen 7th Sep 17, 1:04 PM
    • 10 Posts
    • 16 Thanks
    littlemissbudgetqueen
    • #4
    • 7th Sep 17, 1:04 PM
    • #4
    • 7th Sep 17, 1:04 PM
    Ok - I have prepared the SOA. This doesn't take into account holidays/Christmas/presents as I tend to just add this in for the relevant month and it can be quite changeable.

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 0
    Number of cars owned.................... 3 (we each have a car and also have a campervan which we have just converted - hence the amount on the Barclaycard)

    Monthly Income Details
    Monthly income after tax................ 1400
    Partners monthly income after tax....... 2462
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 3862

    Monthly Expense Details
    Mortgage................................ 388
    Secured/HP loan repayments.............. 307
    Rent.................................... 0
    Management charge (leasehold property).. 30
    Council tax............................. 88
    Electricity............................. 40
    Gas..................................... 40
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 65
    TV Licence.............................. 12.12
    Satellite/Cable TV...................... 0
    Internet Services....................... 45
    Groceries etc. ......................... 200
    Clothing................................ 0
    Petrol/diesel........................... 440 (we both commute to work in different places and this is actually cheaper than public transport)
    Road tax................................ 35 (for all three vehicles)
    Car Insurance........................... 160 (DH recently had an accident which has shot his premiums up massively)
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 20
    Buildings insurance..................... 29 (includes contents insurance)
    Contents insurance...................... 0
    Life assurance ......................... 10
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 0
    Entertainment........................... 200
    Holiday................................. 0
    Emergency fund.......................... 0
    DH & My Pocket Money.................... 550 (we get a weekly amount which is to cover our clothes/haircuts/meeting up with friends etc)
    Total monthly expenses.................. 2659.12

    Assets
    Cash.................................... 150
    House value (Gross)..................... 125000
    Shares and bonds........................ 200
    Car(s).................................. 12000
    Other assets............................ 0
    Total Assets............................ 137350

    Secured & HP Debts
    Description....................Debt......Monthly.. .APR
    Mortgage...................... 66577....(388)......0 (will check APR and update)
    Hire Purchase (HP) debt ...... 624......(307)......(will check APR and update)
    Total secured & HP debts...... 67201.....-.........-

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Barclays CC....................5151.05...62........0 (balance transfer card)
    Halifax CC.....................3.44......0.........(will check APR and update)
    Argos Card.....................332.95....0.........0 (for six months hope to have repaid before interest kicks in)
    Prof. Study Loan...............5851.66...252.......(will check APR and update)
    Total unsecured debts..........11339.1...314.......

    Monthly Budget Summary
    Total monthly income.................... 3,862
    Expenses (including HP & secured debts). 2,659.12
    Available for debt repayments........... 1,202.88
    Monthly UNsecured debt repayments....... 314
    Amount left after debt repayments....... 888.88

    Personal Balance Sheet Summary
    Total assets (things you own)........... 137,350
    Total HP & Secured debt................. -67,201
    Total Unsecured debt.................... -11,339.1
    Net Assets.............................. 58,809.9

    The amount left at the end from now on will be split between paying back debts and saving for our holidays. After the debts have been cleared up - the plan is to save hard for our forever home.

    I do have Topcashback - which I love! Any other suggestions though would be great! Will get my plans organised for the next few months and get them posted shortly.


    Bye for now x
    As at 07/09/17: Car Loan: £312/£14,000, Barclay CC: £5151.05, Halifax CC: £3.44
    Loan for Professional Studies: £5851.66/ £8660.00, Argos Card: £332.95/£372.95
    Mortgage: £66,577.00/House value £125,000.00
    LISA: £150.00 NS&I: £200.00
    • littlemissbudgetqueen
    • By littlemissbudgetqueen 8th Sep 17, 3:01 PM
    • 10 Posts
    • 16 Thanks
    littlemissbudgetqueen
    • #5
    • 8th Sep 17, 3:01 PM
    Time to set some goals
    • #5
    • 8th Sep 17, 3:01 PM
    Was informed by DH yesterday that he wanted to service the campervan and his car which should cost about £100 - and he wants to do it today! He has a habit of doing this - no matter how many times I tell him that I prepare our budget on a monthly basis he will still tell me with one or two days notice of something he has to pay for!

    On the subject of DH - he has to go away with work for a few days next week. They have asked him to take his card and they will refund him the money once he submits receipts. This wouldn't be a problem for most people - however last month he went away with work for a day trip and had to fill up the company car - spent £42 that day and then lost all the receipts!!! Have warned him that if he doesn't keep all the receipts the money is coming out of his monthly allowance. Hope that should do the trick.

    Sister has also contacted me today - she is on holiday and miscalculated the cost of hiring a car. Have had to loan her £260 until she gets paid - completely messes up my spreadsheet for this month grrrr!!!

    We are going on holiday next week and have set aside a budget for that so will keep track of our spending and report back.

    Now for future goals -
    Christmas - Save £700
    Holiday in January - Its a big one! Save £3000 (Already paid £2400 for it)
    April 2018 - Have £4000 in Lifetime ISA account. House at moment in my sole name so DH able to get LISA towards next house.

    Have also realised that my car payment went out and I didn't reduce the amount owing - so there is only one month left on the finance - YAYYYY!!! Will reduce amount owing now by £312

    Bye for now xx
    As at 07/09/17: Car Loan: £312/£14,000, Barclay CC: £5151.05, Halifax CC: £3.44
    Loan for Professional Studies: £5851.66/ £8660.00, Argos Card: £332.95/£372.95
    Mortgage: £66,577.00/House value £125,000.00
    LISA: £150.00 NS&I: £200.00
    • scotdebs
    • By scotdebs 8th Sep 17, 3:42 PM
    • 554 Posts
    • 3,075 Thanks
    scotdebs
    • #6
    • 8th Sep 17, 3:42 PM
    • #6
    • 8th Sep 17, 3:42 PM
    Hello there thanks for popping by my diary - I know what you mean re OH - I was going through online bank statements as this is a TIGHT month for us and saw that he had withdrawn £40 and £50 from the cash machine about 5 days apart - has only £20 in wallet and no recollection of what he spent it on !!!!!!!!!! - Have said unless its specifically for something max £20 withdrawal
    Anyway good luck with the debt busting and saving - will subscribe and cheer you on :-)
    CC debt Aug 2017 £48.6K
    Sept GC £128.11/£450
    • littlemissbudgetqueen
    • By littlemissbudgetqueen 11th Sep 17, 1:54 PM
    • 10 Posts
    • 16 Thanks
    littlemissbudgetqueen
    • #7
    • 11th Sep 17, 1:54 PM
    • #7
    • 11th Sep 17, 1:54 PM
    I know scotdebs it can be a nightmare trying to keep on track of his spending - thanks for the subscription and cheering me on hopefully the balance owed starts reducing.

    DH serviced his car and the campervan at the weekend and took the card with him having originally told me it would be no more than £100. He messaged he just as he was about to buy the items saying it was actually £170 - He justified it by saying at least £50 of it could be returned he just had to buy extra parts as he wasn't sure which were right for the car. I went this morning and left back the extra parts to get a miserly £25 He is away with work at the moment so I messaged him saying that it was quite a bit less - his response "well sure"

    I have been keeping an eye on DH's spending on the card for his work expenses and keep messaging him to make sure he hasn't lost any receipts - sometimes I feel like I'm his mum!

    We are heading away early Saturday morning so I think this week needs some organisation.

    Things I need to do:
    - Print off booking confirmation details
    - Clean the house
    - Pack clothes
    - Set up Sat Nav and make sure it doesn't need any maps downloaded
    - Gather up any loose euros that might be lying around
    - Take the cat to the vet for her vaccine - Not really sure how much this will cost
    - Take the dog and cat to their petsitters for our week away - This has been budgeted for
    - Get DH to cut the grass before we head
    - Babysit for nephew this week
    - Meet my friend from old work to walk the dogs - Should be free
    - Meet my best friend on Friday who is home for a few days - Will try to spend less than £5.00

    Money Update
    Spending: I managed to stay within budget this weekend even though I went out with a group of friends on Friday night and DH and I also went for dinner with another couple on Saturday. Luckily both of these nights had been organised at least a month in advance so I had them in my budget. It was really nice getting out with DH to quite a fancy restaurant - something we don't do very often so I really appreciated it and hopefully will do it again in the not too distant future.

    Saving: Not really a saving as such but I was around visiting my parents last night who have just returned from France. Mum started rummaging around her handbag and gathered up almost 50 Euros in coins and notes for me to take on holiday. Yayyy!!!
    As at 07/09/17: Car Loan: £312/£14,000, Barclay CC: £5151.05, Halifax CC: £3.44
    Loan for Professional Studies: £5851.66/ £8660.00, Argos Card: £332.95/£372.95
    Mortgage: £66,577.00/House value £125,000.00
    LISA: £150.00 NS&I: £200.00
    • Scott_Weiland
    • By Scott_Weiland 11th Sep 17, 2:22 PM
    • 549 Posts
    • 1,139 Thanks
    Scott_Weiland
    • #8
    • 11th Sep 17, 2:22 PM
    • #8
    • 11th Sep 17, 2:22 PM
    A couple of things i would do really is first get on top cashback then go gocompare and check your insurances ie home/contents/life/pet i am sure you could drop those.

    Pet plan has a thing on top cashback where you can get from 25quid to 70 quid cashback depending on the policy.

    Next 80 quid on gas and electric is a tiny bit high if its just the two of you, i would do the same really have a look at tc i am sure savings could be made there. Me and my ex were paying 25 on electric and 32 on gas with the co-op and we both worked had energy saver bulbs in etc.

    Your mobiles can those contracts be dropped or changed to sim only maybe 780py is a lot.

    Just my 5 penneth.
    Debts 16274.64
    Cashback Earnings YTD £162.02 Survey Earnings YTD £485.18
    • littlemissbudgetqueen
    • By littlemissbudgetqueen 13th Sep 17, 3:00 PM
    • 10 Posts
    • 16 Thanks
    littlemissbudgetqueen
    • #9
    • 13th Sep 17, 3:00 PM
    • #9
    • 13th Sep 17, 3:00 PM
    Scott - Thank you for all your advice. I have topcashback - absolutely love it! Will have a look at pet insurance and definitely the mobile phones - its crazy when you look at it on a yearly basis.


    We are a bit limited with gas and electricity as we live in Northern Ireland - for gas we only have one provider in the area where we live so they are able to set their prices higher than average and there doesn't seem much we can do about it until the other providers start moving in. In the summer gas is more like £20.00 but in the winter it can increase to around £60.00 so I was trying to do an average. Although I will definitely keep a better eye on things this year to see if I an reduce it at all.


    Electricity again - we actually have the cheapest provider that is available here - I switched quite recently - and we are barely in the house during the week. I would be quite good at turning all plugs off etc -we do have quite a large fish tank which I think probably adds to the amount - however again I will try to be better at keeping an eye on the expenditure.
    As at 07/09/17: Car Loan: £312/£14,000, Barclay CC: £5151.05, Halifax CC: £3.44
    Loan for Professional Studies: £5851.66/ £8660.00, Argos Card: £332.95/£372.95
    Mortgage: £66,577.00/House value £125,000.00
    LISA: £150.00 NS&I: £200.00
    • Scott_Weiland
    • By Scott_Weiland 15th Sep 17, 4:14 PM
    • 549 Posts
    • 1,139 Thanks
    Scott_Weiland
    I hope you make some savings keep posting it does spurr you on.
    Debts 16274.64
    Cashback Earnings YTD £162.02 Survey Earnings YTD £485.18
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,332Posts Today

6,968Users online

Martin's Twitter
  • Shana tova umetuka - a sweet Jewish New Year to all celebrating. I won't be online the rest of t'week, as I take the time to be with family

  • Dear Steve. Please note doing a poll to ask people's opinion does not in itself imply an opinion! https://t.co/UGvWlMURxy

  • Luciana is on the advisory board of @mmhpi (we have MPs from most parties) https://t.co/n99NAxGAAQ

  • Follow Martin