Live on £4000 for a year - Part 3

sophiesmum_2

the_cat wrote: »

Came on to catch up and to post what would probably have been a ramble about next years challenge......... and saw Sophiesmum's post. Will post properly tomorrow but just wanted to say how sorry I am for your news

(((((((((((((sophiesmum))))))))))))))))

Please don't feel you have to postpone your post. I am quite happy to bury myself in this thread and get a bit of normality back in my life. It has been good to have this place to pop in an out of to keep me grounded. As i have said , I have done my crying and now just want to celebrate Andrew's life.

lyndasharp

Sophiesmum, I'm sorry to hear about your brother. He was very lucky to have you and the rest of your family there for him throughout his life, and I'm sure you made his life really special.

I will add my bit of normality... my new work contract has arrived at my Dad's house (via the people down the road, addressed to wrong number). It seems my contract ends on 29th February 2009. So if the day my contract ends doesn't exist, does that mean my contract never finishes??? ;-)

Mollymop5

Sophiesmum.I'm so sorry for your loss.Your brother sounds like a lovely person and someone who really enjoyed his time here.What more can anyone want.You're right to celebrate hs life

Skint_Lynne

Sophie's Mum,

A friend sent this to me when my Gran died and I found it very comforting:

Death is nothing at all. I have simply slipped away into the next room.

I am I and you are you.

Whatever we were to each other, that we are still. Call me by my old familiar name, speak to me in the easy way which you are always used. Put no difference in your tone, wear no forced air of solemnity or sorrow. Laugh as we always laughed, at the little jokes we enjoyed together. Pray, smile, think of me, pray for me.

Let my name be ever the household word that it always was. Let it be spoken without affect, without the trace of shadow on it. Life means all that it ever meant, it is the same as it ever was; there is absolutely unbroken continuity.

What is death but a negligible accident. Why should I be out of mind because I am out of sight?

I am waiting for you, for an interval, somewhere very near; just round the corner.

All is well.

Take care, I am thinking about you,

SL x

the_cat

sophiesmum wrote: »

Please don't feel you have to postpone your post. I am quite happy to bury myself in this thread and get a bit of normality back in my life. It has been good to have this place to pop in an out of to keep me grounded. As i have said , I have done my crying and now just want to celebrate Andrew's life.

Well OK then here goes........ although by the time you get to the end of this, you may be regretting that statement!!

I am really enthused by the idea of using a lump sum at the start of the challenge and deducting it as I spend it and have come up with a bit of a plan. As I have an offset mortgage with a number of savings pots set against it I am going to try to set aside my challenge money in one of these. I am lucky enough to have this saved already, having cashed in a poor endowment plan this year. It is currently offset against the mortgage anyway to get the best interest rate. I could then transfer this bit by bit out of the account as it's spent. So far so good....... but then I started working out the figures. :eek: We are a family of 4. me OH DS1(15) and DS2(12), so for food purposes 4 adults (at least, both boys eat like horses!)

budget to include the following:
gas 550
elec 450
aol 180
bt 180
boys clothes/shoes 400
gifts 500
xmas 500
food 2640
petrol 500
house ins 220
mobile 20

Bringing a total of £6140:eek: :eek: :eek: 2 choices I suppose - cut back or offset the cost with an 'income' based challenge. Looking to change broadband to get a better deal and could definately spend a bit less on gifts and xmas (hopefully not making it obvious that I've spent less though )


Any other suggestions very welcome - if any of you have managed to make it this far:rotfl: :rotfl:

slowlyfading

Okay, so I might be mad in thinking or attempting this, but I'm going to attempt to do the rest of the challenge on £6 per day. My total per day at the moment is just over £12, so its half. I still need to buy most of my christmas presents, but am hoping to buy those online, so hopefully will be cheaper! So, this is £42 a week, rather than £84. is this mad?! i'm going to try it anyway, as it can't hurt to try! Every week, if I succeed in this, I'm going to transfer £20 into savings. Yep, -nods head- mini challenge has begun! If I succeed, it will mean my total spends for 2008 would be £3255 there abouts. That means I'd come under budget by £745 give or take!!!

Only problem is, I'm off out for lunch tomorrow!

Skint_Lynne

the_cat wrote: »

Well OK then here goes........ although by the time you get to the end of this, you may be regretting that statement!!

I am really enthused by the idea of using a lump sum at the start of the challenge and deducting it as I spend it and have come up with a bit of a plan. As I have an offset mortgage with a number of savings pots set against it I am going to try to set aside my challenge money in one of these. I am lucky enough to have this saved already, having cashed in a poor endowment plan this year. It is currently offset against the mortgage anyway to get the best interest rate. I could then transfer this bit by bit out of the account as it's spent. So far so good....... but then I started working out the figures. :eek: We are a family of 4. me OH DS1(15) and DS2(12), so for food purposes 4 adults (at least, both boys eat like horses!)

budget to include the following:
gas 550
elec 450
aol 180
bt 180
boys clothes/shoes 400
gifts 500
xmas 500
food 2640
petrol 500
house ins 220
mobile 20

Bringing a total of £6140:eek: :eek: :eek: 2 choices I suppose - cut back or offset the cost with an 'income' based challenge. Looking to change broadband to get a better deal and could definately spend a bit less on gifts and xmas (hopefully not making it obvious that I've spent less though )


Any other suggestions very welcome - if any of you have managed to make it this far:rotfl: :rotfl:

I'm not that sure about it yet myself cat. I am reading through old posts at the moment and am then going to look at all my household costs and what I actually spend money on and take it from there.

I want to get rid of my debts first of all and then start saving to clear off my mortgage. The end result I want is to have a cushion in the bank for when I am older. I really do not want to be poor when I am a pensioner so will need to get myself sorted now. (I am 37, so a good while to go yet:p ).

you do have to think ahead though because time passes really quickly.

SL x

System

hugs sophiesmum x

right, going to alter my sig

i have been managing ok on my £1600 for the year, except for holiday funds (not much room to cut back to make it up elsewhere), plus my 'university challenge' fund will have to be ongoing, for books & perhaps b&bs while on placements etc, sooooo some sort of income/offseting money neutral thingy would probably be a good idea...going to ramble and work out a plan now - you may want to skip to the end!

Total wages in 2008 = £2167 (my f/t volunteering pittance)
Total other income to date = £388.45 (p/t work, ebay, quidco etc)

= + £2535.45

basic cost of living (food/gas/electricity/tv/broadband/mobile/clothes/fun/presents)
= £1600 for 2008

my course finishes at the end of may, so i am planning it out up til then - i have no idea what will happen employment/income wise after that so i will have to think of a way to save/plan for that sometime

£1600/12 = 133.33 x 5 = £666.67 till may

plus i will stop getting my free bus pass this week, total bus pass while at uni will be £261 (32.63 per month)

also i haven't added the £84 extra i spent on my pseudo-hols in to my £1600, i am hoping to pay this off with the next batch of quidco and ebay rather than ruin my £1600 targets! also have spent £20.78 on a uni book and a folder that isn't in my £1600 yet

sooooooo
i will take £1600 out of my total income 'pot'

= 935.45 left

then i take out the jan-may money

= 268.78 left

so i am now starting my 'extras money neutral challenge' (for uni essentials not included in the normal 4k rules plus a holiday fund not included in the 4k rules - i will count all other 'luxuries' into the £1600 through)

i have enough in the fund to pay for my bus pass at £261, plus the new card at £3

= 4.78 left
still have to earn the money to 'pay myself back' for the hols & uni book (£104.78)

sooo i actually have -£100 in my money neutral fund

is exactly -£100 right? thats spooky

i have £50ish waiting to get paid by quidco, so i have about £50 to 'find' to catch up, then i can get started saving for the next expenses :rolleyes:

wait, changed my mind lol, going to take out the 2008 money, and the jan-may money, then keep track of the total ins/outs as and when the money comes in/out

but if i forward plan i am about £50 down as it stands

Right you can come back now i've stopped rambling!

Marru

Ok, I am back with my budget for next year:

Rent+water+CTax: £9,177.04
Car: 1,927.92
Courses: Can't afford these except if can save from other budgets + if I can get tax rebate from 07-08 (can't earn more as am in a bit of a benefit trap until I finish my college)

£4k challenge including:
electricity, gas, mobile: £960.-
household: £240.-
food: £1,200.-
clothes, shoes, hair cuts: £400.-
animals: £1,000.-
other (membership fees + gifts): £200.-

Then separate budgets for:
Nursery: fingers crossed that can get this fully covered
Business overheads (broadband, landline, NI): £390.-

By using entitledto I have allocated my income from different sources to my outgoings and it looks like I will be able to save into CTF and ISA after paying my DMP if I can stick with the budget. One thing that bugs me is that if I really live frugally and get some savings I will be penalised by housing benefit people for this but I hope that before this happens I will have graduated and out of that trap.

Nyk: is cashback and surveys taxable or not? Off now to HMRC site to check how much I can earn before I need to start paying tax...ok it is £6,035.- for 08-09! Fabulous!

Marru

looby-loo_2

Sophiesmum - thinking of you, allow yourself time to think of the good times.