TOTAL budget, not just household???

Lucie_2

I also have several on line savings "pots" with Lloyds TSB. Currently I have a holiday fund (paying in as much as poss to cover trip to Australia next year), a health fund (used to pay £33 pm to Medicash but decided to "self insure" instead. This is to cover dental fees, physio etc.), a car insurance fund (paid it in full this year instead of DD, but kept the DD amount going to pay for next years) and a season ticket fund (our Leeds Rhinos season tickets work out to be about £30 per month).
All our bills are monthly DD, Christmas & car tax generally come out of the holiday fund savings account (because it's usually the one with the most money in it!).
Things like haircuts (only me, OH has a whizz over with the clippers once a fortnight) and birthdays come out of each month's "general spending" fund.
If I remember I put the 2 "spare" months council tax into the savings account, as we pay it over 10 months, not 12.
I really must get around to doing something with my excess mileage expenses (always get back more than I spend) as it currently just gets absorbed into our everyday spending, unless the car needs a service.

Bogof_Babe

Black Saturn and Penny Pincher, I didn't see Council Tax in either of your budgets. Is there some reason you don't have to pay this?

I'm curious because @ £150 per month this is the biggest regular and unavoidable outgoing in our house, and I totally resent every penny of it.

xlt_hunter

HOLsale wrote:

thanks for this post

i desperately need to start budgeting and this is good inspiration

i'll have to have a good look at martins budget plan

this is a bit scary you know... hope you'll all be here to hold my hand

Ditto, same here

Now have 3 pots with barclays to cover the day to day things and 2 others to save pots for Car tax/insurance and phone

Thanks!

black-saturn

Bogof_Babe wrote:

Black Saturn and Penny Pincher, I didn't see Council Tax in either of your budgets. Is there some reason you don't have to pay this?

I'm curious because @ £150 per month this is the biggest regular and unavoidable outgoing in our house, and I totally resent every penny of it.

I'm a lone parent on benefit, we dont have to pay council tax. I would get housing benefit too if I was renting and I hadnt paid my mortgage off in full.

kiwichick

black-saturn wrote:

I would get housing benefit too if I was renting and I hadnt paid my mortgage off in full.

WOW- how amazing, I would LOVE to live without a mortgage. Good for you :beer:

black-saturn

kiwichick wrote:

WOW- how amazing, I would LOVE to live without a mortgage. Good for you :beer:

It was because I bought a very cheap house when I was working and managed to pay it off quite quickly.

JAMIEDODGER

i have just started my budget for 2006, so i can keep track of EVERYTHING i spend my money on. there are many large purchases i would like to make this year including new carpets for my hall, stairs and landing and some new furniture for the childrens bedrooms. i have probably been a bit too detailed (maybe lol) in breaking everything down into catagories but all that time i will be spending filling it in will be less time in the shops!!! the major areas i would like to cut back on next year are clothing and unnessesary spending, by doing such a detailed budget i am hoping to chop those costs right down! i know how much i can afford in each catagory each month and how much i would like to be saving each month too. also i am including in my income things like vouchers (pigsback, tesco etc) and cashback (quidco), and any ebay sales so that i am able to see if these things make a real difference to the budget.

i really needs some fine tuning as i am running 3 bank accounts alongside it, my current account which all my income goes into, my natwest account where all my direct debits go out from and my ING savings account.

kiwichick

Sounds similar to mine JD, I have detailed EVERYTHING monthly based on both 4 week month and 5. I have included a set monthlyamount to cover xmas and birthdays/mothers day etc. I plan on having accounts asfollows;

1-direct debits
2-PMS
3-birthdays/xmas
4-household budget
5-petrol
6-house deposit
7-moving fees/stamp duty etc

Any money left at the end of the month in accs 4 or 5 will be moved into the PMS fund as this is a small savings pot towards a car..

I know this seems extreme having so many accs but it really helps me to keep my head together.

I am also going to use my tesco credit card to pay for everything in the household and petrol budgets then transferring the money from the relevant acc to the CC. This way I also maximise the tesco vouchers I can earn and will be saving them for treats in the summer hols like days out.

Good luck to all doing the same,
Al.

bonnie_2

rent 376.00
council tax 82.00
water 42.00
gas 60.50
electric 38.50
phone and internet 58.00
house insurance 15.00
food 200.00
pocket money mine 80.00
kids pocket money 70.00
sky 20.00
tv licence, pay when dont pay council tax for 2 months
credit card s !!4] 100.00
car loan 134.00
car tax 20.00
car insurance 31.00
halifax loan 246.00
computer loan 25.00

incomings £2410 outgoings £1608 feel free to pick holes if you want.