Newbie checking in

onestep

hello everyone

I've been lurking for a while, so thought I'd take a deep breath and post. This site is so inspiring! Having done the budget, and tackled some overspending, I've managed to save over £140 a mnth!! Which of course can go towards paying off the CC even sooner

One thing I have noticed about this whole process is how silly I feel about all that wasted money, going on things we didn't need, or on overpaying for insurance policies :mad: Must try and find a way of putting that behind me now.

It's encouraging to see everyone's positive mental attitudes here - and I'm looking forward to learning even more ways to save money. Off to the Old Style board now for more tips!

onestep

bank_of_slate

Hi onestep
Welcome to MSE.
You'll find a very supportive and non-judgmental community on here.
What you have done so far is FANTASTIC!!!!
I know that sometimes it seems slow, but just remember that every month you clear more, you are costing the banks money!!! because they are losing out on the added interest.
It also helps to plot your debt in your signature, you can keep altering it and watch the amount reduce!
...Linda xx

Bokken_2

Welcome and well done £140 great!
Just don't stop there though.
post some more details if you want and I'm sure we all can save you some more.
I got a Gas bill this morning and finally we are in credit after a year.
It was only 11p credit but it is a start and it all adds up.

Edinburghlass_2

Welcome to MSE and well done

Don't forget to check out the Utilities board and of course my own favourite the Telephone Boards

onestep

Thanks so much! OK, here is the SOA - for my account and our joint account. (DH has his own account, which is a whole other story!)
Joint account: Incoming £1500 from DH.
My account: incoming £200 from DH, £550 wages (£250 for nursery fees taken out at source), £68 Child benefit
Outgoings: Mortgage £850.49 (3 yr fixed 4.39%, 2 years to go)
Building/contents insurance £15.25 (reduced from £35 thanks to MSE!)
Council tax: £154
Water: £25.24
Gas: £35
Electric: £32
ntl Phone/broadband/TV: £46 (reduced frm £60, but still high I know)
mobile bill: £20
Cleaner: £95.26
MPPI: £31.28 (reduced from £50! thanks to MSE)
MDTI: £39.93
Denplan £12
Pet insurance: £20
Food/household shopping £250 (2 adults 1 child)
CC repayments: £150 (balance £6500, at 0% in Egg)
Savings £80 (I know... )
Childminder £150
Gym £55 (sacred!)

think that's pretty much everything.. The savings are split between a Christmas money account, and an insurance policy that pays out in a few years time.

Thoughts? be gentle!

onestep

lottie26_2

Hi,i'm the same I think if i'd paid this off last year when I first started thinking about it i would have loads saved up already, but I believe what they say on here about the 'lightbulb' moment and if I started last year I would'nt have done it properly plus I hadn't found this site yet.
But then you have taken the desision now to sort your finances out not 4 months down the line. Good Luck.

Edinburghlass_2

Here you go, read this thread which gives you lots of links to threads with tips for reducing your NTL bill

onestep

Edinburghlass, thanks I was just looking at that! I'm still on contract for the broadband though, do I have to wait until that expires before I renegotiate? Will definitely try that as soon as I can though.

Graham_S_4

hi onestep
i'm no expert at this - but your cost for cleaner is a lot.
i'm speaking as a single bloke living alone - so cleaning is not top of my list
what are MPPI and MTDi ?
since i've been on MSE i have started writing down every penny i spend - that works better than anything else i can think of

cheers

G

onestep

hello Graham_S

the cost for my cleaner is £22 for one morning (8.30 til 12) per week. She's fab, and things would have to be really awful for me to stop her coming round!! MPPI is mortgage payment protection insurance, which includes critical illness cover); MDTI is mortgage decreasing term assurance/insurance. I know we could pay things off quicker if we didn't have these, but DH is nervous about how I'd pay the mortgage if anything happened to him. I'm going to start writing all my little spends down - thanks for the tip!

onestep

Edinburghlass_2

onestep wrote:

Edinburghlass, thanks I was just looking at that! I'm still on contract for the broadband though, do I have to wait until that expires before I renegotiate? Will definitely try that as soon as I can though.

I think in fact most users got their bills reduced as they said they were going to leave. As you are not in a position to do that it might not be so easy but I do know one user phoned and said they needed to reduce their outgoings and was there any way that this could be done.

For the cost of a phone call, its worth trying.