budgeting allowances?

mumofthreemonkies83

Hi all :wave:

Im just wondering what you all allow in your budgets for things like shopping/car insurance/treats etc

Im trying to make cutbacks where I can and should be debt free by august this year but have never managed to budget for things so thats my new plan of attack to prevent myself getting into debt again

I dont want to do an SOA, Ntl's been dumped, I have a payg mobile, dont drink, quit smoking etc so everything that could go did

Ok so things like xmas, I have 4 children aged from 10 down to 4 months, how much would YOU allow per child? Same again for birthdays?

Im a really bad cook but im trying so bought a slow cooker and lurk on the old style board but what do you think is a reasonable shopping allowance for 2 adults and 4 kids? (baby is breastfed:money: )

Also I noticed your car insurance's monthly are around £30 and less, getting cheap car insurance on our Ford focus is hard what with dhs points :mad:
Its £43.89pcm at the mo for me and hubby and it looks like our renewal is going to be higher :mad:

Goin out for the evening with 4 kids is a no no too and I dont drink at all but what do you guys allow for treats/nights out etc.
Also for the parents, do your children do after school clubs or acitivties?
My eldest goes to an evening club thats free one night a week and I want to sign dd2 up for swimming lessons (imo a good use of money as its a lifesaving skill)

I dont work at the mo but dh and the girls take packed lunches to school/work etc
Things like electricals, (I seem to be cursed with washing machines and dryers that dont last 5 minutes) Do you save a little each week for when these need replacing?

So, what do you allow and do you have seperate accounts for everything?

Sorry a million and one questions there Any replied much welcomed
Thanks guys
Mumof4

Jo_R_2

I'd be interested in any answers to the same questions!

I have always found when trying to budget that it is the things such as presents and Christmas, and unexpected things such as new household goods ands whatnot that really throw the budget. I think actually moving the money away from monthly finances is the best option, so I'm going to work on using separate accounts in this manner.

I'm seeing my SOA (that am working on at the mo) as a "work in progress" and always find people's input on this board really useful for highlighting methods that work for them that I might be able to use.

csarina

Personally I use a spread sheet months at the top and who needs what down the side with the date DD's go out, everything we pay is on DD's except for the car insurance, servicing etc I put £80 a month into a sperate account for that so I have the money to pay up front, then do a search for the cheapest quote through Quidco.

Once I can see what goes out on bills etc I know whats left is for food etc...there are only 2 of us and we have a maximum budget of £140 a month. I do cook everything from scratch.......but occasionally go mad and buy something reduced fron Mr T's. For our grandchildren they get £10 each at Christmas (we have 13) once they reach 21 they drop off the list.

Its more difficult with older children, little ones you can get away with good quality second hand toys. with 4 you are looking at quite a bit, if you allow £50 each max thats £200...........afraid my kids are much older 49,47, 40 and 39...........we came to an agreement with them years ago only to give to the children at Christmas, so I cannot be of much help there.

There will be someone along shortly whose situation is closer to yours and able to give you advice.

skint_spice

I hope this doesn't sound mean but I'd budget less for the little ones pressies too as they are usually cheaper for HUGE things! I only have one child - must be much more difficult when you have a few - I pay out £20 for DSs footie club (matches, training and strips). I budget for xmas, DS birthday, car, house and contents insurances and this money comes off to a savings account linked to my current account each month so it's easy enough to move back again.
There is advice somewhere on the site which says you shouldn't think how much you should budget for christmas etc but work out how much you have left and do it on this. So whatever is comfortable within your own budget would be my answer - longwinded way of saying it though!

mumofthreemonkies83

Thanks very much for the replies.

I hadnt thought of it like that skint-spice,better to just put aside what I can afford rather than what I;/they would like for xmas

Wow csarina, thats a lot of grandchildren ! you must be very proud

Much appreicted everyone
Mumof4