how much do you save/pay off debt/live on per month

JAMIEDODGER

hi seanyboy, it might be easier if you post this on the bank accounts board, could the board guides please move this post?

JAMIEDODGER

cheers sezdav, paid it off this morning using cc, will send a extra cheque for £40 to cc next month as cc is still quite high apr, many thanks

ms_london

seanyboy wrote:

Hi All
Does anybody know of any bank accounts that allow us to split our account into 3/4 mini accounts within the main account. The reason why I want to do this is to live off one mini account but regularly save into another mini account and it will also allow us to budget easily as we will be able to see whether we are overspending or not. The only bank that I can find that does this is "Intelligent Finance"


Please Help

ING direct will - ingdirect.co.uk

Ms_London

sezdav

JAMIEDODGER wrote:

cheers sezdav, paid it off this morning using cc, will send a extra cheque for £40 to cc next month as cc is still quite high apr, many thanks

youre more than welcome! Didnt want you to think i was teaching you to suck eggs! so very glad to hear youve paid it off!! x

us,thecat&thedebt

joint income £1600 after tax ect

part time job £50 per week
which i use for spends

rent main bills inc c/tax £800
MIN DEBT REPAYMENTS £220
FOOD £100
PETROL/TAX/INS/MOT £50

EXTRA PAYMENTS TO DEBTS £400

ANY SPARE INTO ISA TO PAY OFF LOAN EARLY...


as of june we will be moving into my great nan (whom has sadly decesed) house whilst it goes through probate, is done up and waits to sell (about a year)
so will only be paying bout 200 per month for ctax and bills plus 150 for food and car stuff
so 1350 will pay off debts once there gone will be saving 1k a month for wedding and towards deposit....
:j

pivotalgubbins

What a brilliant thread idea... thanks to the OP and all the contributors so far.

My breakdown is as follows (approximate figures given):

Income: £950

Rent: £200 (live at home so includes water, gas and electricity)
Bills: £45 (mobile phone and broadband)
Petrol: £80

General: £200 (includes going out, buying luxeries, etc)

Debt: £0 (no debts at the moment, only student loan)
Savings: £400 (currently into Cahoot accounts)

Any extra income gained through expenses, cashback or gambling offers are all currently put towards savings. I've set myself a target of £8,000 my the end of this year and currently have just under six thousand to go. It is going to be really tough, wish me luck!

PS: I've even edited my signature to represent the above, hopefully it'll give me an incentive to push on.

Alleycat

RBS let you link accounts, so you can have several and see them all at the same time when banking online. Immediate transfers to and from the accounts is good as well. We currently have OH's, mine, bills, shopping, sundries. We are currently applying for a joint with debit cards for the shopping and may close one down or leave it as a spare.

JAMIEDODGER

spent 4 hours redoing my budget last night (sad or what lol) and have decided that i am going to stop paying the £280 into savings account to cover extra expenses and start hammering my debts with it...most of the savings are used for xmas and birthdays anyhow which most fall for me later in the year anyway so once the debt is paid i will start saving again

tattooed_lady

Great thread JD!

I'll list what I save monthly as that is my focus at the moment!

I save:
£40 for Xmas,
£50 for car/home (road tax, mot etc,ground rent),
£100 into a regular saver (for 12 months),
I also put £100 into the ISA last month and will try to do that monthly. I save my £2 coins and also coppers/small change.

This leaves us living with a budget of; 5 of us, £100 a week for food, petrol nappies etc, but we usually manage fine and it gives me a buzz that I've saved!!!

James240

i have an income of £1080

Bills £760.06

(Rent £250, Broadband £25, Mobile Phone £30, TravelCard £27.35, Monthly Saving £10, Gym £35, Credit Card £77 and Loan £303.71)

Of this by Begining of March i will be stopping the Gym, mobile phone will go to pay as u go and i will try to get broadband cheaper as well giving me an extra £60-£85 to pay off extra on bills.

Money left out of wages which is £315.74 of which i normally save £200 and live off the rest which is £115.74 or roughly £29 a week

At the present time i have just over £1300 in savings so i come March im going to start using the additional £200 to start paying off big bits of credit card and my loan