help with budget

bonnie_2

i need someone to pick holes in my budget. incoming £2410 outgoing £1698
rent 376.00
council tax 82.00 use the 2 months free to pay tv licence
water 42.00
gas 60.50
electric 38.50
phone/internet 58.00
house insurance 15.00
food 200.00
mine and kids pocket money 150.00
sky 20.00
credit cards 100.00
car loan 134.00 finishes in july
car tax 20.00
car insurance 31.00
halifax loan 246.00 finishes july 2007
computer loan 25.00 finishes in october
petrol 100.00
i have done well because i now have money left over each month but am trying to work out budget for next year £300 of incomings is dla so dont want to use this to pay anything of.

Gonna_Do_It

Phone/internet seems quite high?

How many is the food for?

What is the pocket money for? What is this spent on?

bonnie_2

food is for 4
i have £80 a month for my spends and i have to give my mum £70 a month for my eldest daughter who has moved in with her she is 14 so it buys her clothes and school dinners.
phone/internet ntl £18 internet as much as you like
phone £40 as much as you like i.e 25 phone 10 line rental £5 mobile calls know i am naughty in this.

newmum1

gonna do it got there before me i was wondering the same things, i think if you want to tighten your belt you could cut down on the food shop, seems high, from my calculations you still have £712 left each month could you not pay off credit card?? What is the outstanding balance?? that would reduce your outgoings in the long run.

Gonna_Do_It

Worth looking at the phone/mobile posts to try and cut that down or get a better package.

Do you really need Sky?

What do you spend your pocket money on? Is it things you really need or just bits and bobs, could be wasted money, do you write it all down to see where it goes.

Can you pay off computer loan early, get rid off it?

bonnie_2

debenhams 590.71 no interest
visa card 914.75 dont know it says 1.456% a month
mastercard 863.61 same as above
halifax 970.34 no interest
total 3339.41

bonnie_2

have to have sky as cant get picture without it. poor reception spend 10 a week on tobacco and 10 on going out.

tomstickland

says 1.456% a month

That's 17% gross annual rate which is high. Move money to 0% cards or open a new 0% card and balance transfer it in.

bonnie_2

cant move debts am blacklisted ,we both are cant even get a cheque book.

jcr16

with the amount u have left over each month you could be debt free in a matter of months. then think of all the extra money spare u would have.

bonnie_2

i know i am losing motivation i have paid of my debts these are hubbies.at least the car and computer finish shortly. i have managed to get it down from 35,000 to 40,000 to just under £10,000 at one time i didnt even have a penny left each week.i really cant be bothered letting the credit cards have their money.which is his main debt left no point paying loans of early especially when the interest has been kindly stopped.