In a daze

Uniscots97

StuntmanBob wrote: »

No offence taken! Sorry if it sounded as if it was. I was just whining.

Whining's allowed, we all need a sounding board from time to time

Thanks for comments so far. A few points, but please be assured that I'm not trying to knock anyone's suggestions. I welcome all comments and suggestions, even if rude!

Yes, Gas & Elec are high, but I'm in rented accom and not allowed to switch.
Internet and phones are high - I work from home and need "professional" level of services. I think I could get rid of my home phone though and use the business line.

Regards the Gas and Electric, can you turn the thermostat down? Even by 1C would save about 10%. The phones, you don't ask you don't get, call up your provider and see what they say. Even ask them if they'll do you a discount for paperless billing?

Groceries feed me, and my 2 kids 4 days per month. I had a look at the "old style" board or whatever it's called. I 'm simply amazed that people can eat so cheaply. I don't dine on caviar, but I must be doing something very wrong. I'll have to look into that in more detail.

Post on the OS board, the main tricks I used was brand swapping (I'm not proud to use Value/Smart Price stuff it is made in the same factory after all), buying fruit and veg from the market (much cheaper), and hidden ingredients (by this I mean a handful of porridge oats to bulk out mince which I've since learned is very good for the digestive system!) and cutting out take-aways and fast food. Not easy with kids granted but trust me kids love picnics and home made food if allowed to help (make burgers, cakes etc, all ages love this)

The medical costs are not every month, but an average over the last 2 years. There are no NHS dentists where I live, so £25 per month is dental insurance. I have one prescription per month. Other costs are optician, glasses, some physio I had recently, etc, pro-rated.

I cancelled one life insurance policy yesterday. I daren't cancel the other until my children are older.

Presents are pro-rated over the last two years. I overspend on my kids to spoil them because their mum doesn't spend very much on them. Over compensating is probably the right word.

If you have an idea about a big present you want to get then check out the comparison sites and get it at the cheapest possible. I've just posted on the OS board and we all agreed that sometimes kids love the little things the best. Our youngest loved an Unazukin doll I got (freebie thanks to this site) as a little thing for her and she said it was her best present! Check out the freebies board. I managed to get a free box of chocs recently (given to my Mum), so its well worth a look.

Holiday also pro-rated based on last two years. Usually just a few days away on a city break with my lovely GF, and some summer days out with the kids.

Entertainment is cinema, dining out, lottery etc. This has to stop. Cash spending is cigarettes and far far too many jaunts to the pub. Plus some ad-hoc stuff like sweets, burgers for the children, an occasional sandwich at lunchtime. I have one cigarette left now. It'll have to be my last one ever. Time I faced that demon once and for all.

Entertainment doesn't have to be expensive and a candle lit dinner at home is far more romantic than a restaurant. If the pub is the place you normally meet up with pals why not invite them round? Get each of them to bring something, you get to meet up as normal but without the price tag.

My car is an old crock which costs money to keep on the road. I figure it's cheaper to keep it and spend the money on fixing it than to get something better which I can't afford and who knows what could go wrong with a different car.

I'm amazed at the fuel costs myself - I had no idea. Some is work-related and I get it back. Most though is running my kids all over the county. Their mum doesn't drive, so I get to be taxi.

Keep your tyres pressures at what they should be and never break sharply or accelerate hard (unless absolutely necessary), this should help on fuel consumption

I knocked my sky tv down to the minimum yesterday (now £18) and next time I see the kids I'll explain that it has to go altogether.

Check out freecycle, you might be able to get a freeview box on there.

Phew.

My comments in red. Good luck, you can do it.

angelflower_2

stuntman

I feel I have to commend you for the steps you have taken already. I am proud that you have faced up to things, are taking advice and realising that in the short term sacrifices will have to be made but in the long term, you will be much better off.

Well done

ps. Next time you fancy a pint or eating out - or even to purchase that one last dvd, use this! http://www.moneysavingexpert.com/protect/demotivator/
I was amazed to work out what my bar of chocolate a day was really costing me!!

tuggy

The big amounts that jump out are
"entertainment"
and
"cash spending"

Thats £700 a month in total.

Do you mind saying what that goes on? If you can cut that then you are WELL on your way! remove that, cut food budget, switch electric etc etc and your pretty much sorted

lindens

With the groceries and food I found being organised made it much easier and I spent much less. Its easier too as you work from home. Do a meal plan and just buy the things you need to make the meals on the plan. Do a store cupboard challenge and see whats in your cupboards/fridge/freezer already and make a list of meals you can make from those items.
Kids can be expensive and its easy to spend money on them to ease the guilt ( been there done that)

Someone posted on the OS thread about a "build a pizza" night they have in their house every friday. Get some pizza bases and chop up a load of toppings and put them in bowls, get the kids to put their own toppings on, cook, sit down in the dark and watch a DVD with some popcorn for afters, Just as much fun but loads cheaper. You can alternate between burger nights and pizza nights.
I am sure as they dont see that much of you they value your company far more than an expensive evening out.

Good luck

bunzee

Some great tips on here already, I'm sure if you have a go at most, if not all of them then you will be amazed at how much you can save.

Definitely check out the OS board, and while it may be difficult to cut down the nights out to begin with you will soon find you settle into a slightly quieter routine.

Good luck giving up the ciggies as well, I gave up a couple of months ago, it was hard to begin with but only for a short time.

Just keep on keeping on you'll get there!

GeorgeUK

Stuntman - will post a few comments, but i think it's all been covered already.

Mobile phone............................ 20
PAYG?

Telephone (land line)................... 40
Satellite/Cable TV...................... 25
Internet Services....................... 30
Can you combine these in a package?

Groceries etc. ......................... 290
Should be able to cut down with meal plans or buying shop brand goods

Presents (birthday, christmas etc)...... 70
70 a month may be a bit much

Haircuts................................ 3

Entertainment........................... 350
Way too high - can't afford this right now

Holiday................................. 60
Again - probably better waiting until you can afford it

Cash Spending........................... 450
Wine and Beer........................... 175
Needs to be cut right down

It may be an idea to get a spending diary. Keep a note of everything you buy for a month which will show you where you can plug the gaps in the spending (other than the cigarettes and pub).

I take it you need to find out the APR's and Lloyds isn't really only £1
It's usually advised to pay off the highest interest rate first and pay the minimum on everything else. There are a few exception if you can get incentives to keep your account open though. Sometimes after you clear a cards balance you will be offerred a 0% BT for x months or a low life of balance deal. These will help you to clear your cards quicker if you are not needing to pay large amounts of interest.

Have you looked at your credit report? You can view it free at experian (if you cancel within 30 days). I would look to see how many credit checks you have had recently. You can usually have 3 within a 6 month period before your credit score is affected.

If you have not recently applied for credit you may be able to get a 0% card from virgin money or MBNA. I suggest these because they have 0% interest for 14/15 months and the minimum payment is 3% in 1st month and £25 minimum thereafter. With these cards you can do a "super balance transfer" and BT the money from the card to your current account. This may be used for things such as paying overdrafts, loans or TAX. If this is a one off tax collection then this may be an option.

Not too sure, but could you request a payment holiday for some of the loans? Getting some of the cards on to 0% will help but you may not be able to tackle everything at once. You need a little more breathing space and this is the only thing i can think of without going on a DMP.

RAS

Hi

As someone whose parents also split, sorry but your kids are going to have to learn that you cannot afford it. Quite simply explain that either you stop spending or you will have to go bankrupot and then you will not be allowed to spend money.

This is a mcuh better life lesson for them, which ever gender, than seeing mum being tight and dad coughing up all the time.

Lexxi

StuntmanBob wrote: »

Yes, Gas & Elec are high, but I'm in rented accom and not allowed to switch.
Internet and phones are high - I work from home and need "professional" level of services. I think I could get rid of my home phone though and use the business line.

Entertainment is cinema, dining out, lottery etc. This has to stop. Cash spending is cigarettes and far far too many jaunts to the pub. Plus some ad-hoc stuff like sweets, burgers for the children, an occasional sandwich at lunchtime. I have one cigarette left now. It'll have to be my last one ever. Time I faced that demon once and for all.

How come Landlord won't let you switch?

Can internet and phone be put as business expense? I had a boyfriend who had his internet and mobile through his business because he 'could' work from home?

You can still go out on a budget, this site has fabulous links to money off coupons, orange Wednesdays etc, give yourself a target then celebrate MS style!

My greatest motivator for giving up smoking was the money I'd save and by smoking I was just making someone even richer whilst I got poorer!

Wishing you the very best of luck with your journey.

Uniscots97

As Lexxi says Orange wednesdays are a good option for taking the kids to the cinema (2 for 1 tickets), all you need is an Orange sim card. If you're not on Orange get over to the freebies board and look up free sim cards, there is Orange ones going free. I think the last one I got came with about a £1 worth of credit.

dancingfairy

I think it's just a question of being creative with the entertainment. Set a budget as well. Make it a game to find cheap/free great things to do. There's loads of ideas around on here. I'm sure if you loo on the OldStyle Board and do a search you'll find loads of things to do.
It's things like go out for a meal when you have a voucher and only for special occassions
Have a dinnerparty
Have a bring your own bottle and watch the footie night (at yours and theirs0 take it in turns to swap)
A cinema night etc.
Quiz night at home - etc

With the DVD collection I would only sell the ones you aren't going to watch again. Then you can swap them with your mates/watch them etc.

With the kids - cookery as sugested above
2 for 1 at cinema as above
nature walks
kite flying
picnics
treasure hunts
beach trips - with a few pennies for ice creams
maybe book a tennis court for a few hours somewhere?
crafty activities? collages? etc? card making? paper mache etc, etc.
rent a console and games? not sure but would imagine you could do that - or take turns to play free games on the internet and beat each others score or something.

It's great to be able to take your kids out but they have to learn the value of money as well and if you ask kids what they love most it's often cheap holidays on the beach or the icecream or the cardoard box the toy came in (if they are very young etc) - it's the memories that count most.