Experian report.....very confused......

wannabedebtfree_2

Ok, I see where you are coming from, and no, you are right it probably wouldn't be enough to cover everything, I will sit down and really look at everything..............I promise!!

TotallyBroke

Please look at everything.

In my budget sheet I only spend a maximum of £20 on each person. So that is £40 per person in the year. Only my ds gets more than that. In fact one of the birthday presents I had to buy this month I had budgetted £10 I spent £8 but don't tell her lol she thinks it cost a lot more hee hee.
This month I am not putting anything towards my savings because I have to pay my council bill before end of April. That's going to be a struggle but if I don't I'll be in court. £1350 in 3 months. I should have on the 27th Feb (before wages go in) £500 I should just about manage it so long as nothing drastic happens. So next month I'll be visiting my parents a lot more for free dinners. Good old Mum and Dad.

wannabedebtfree_2

I don't spend much for birthdays/xmas on anyone but my own 2 kids, I have 4 brothers, 1 sister, 4 nephews and 7 nieces (and only 1 of those are from my side of the family the rest are my partners brother and 2 sisters kids) I don't buy for adults, apart from my mum, stepdad, dad, stepmum, nan, grandad, and 1 of my aunts who is more like a big sister. I buy for my 4 brothers but not my sister as I buy for her daughter..........it gets very complicated, but basically at xmas I have 17 kids to buy for and 7 adults, then my own 2 kids and partner. I buy stuff when I see special offers, like when everything is half price after xmas then keep it in a box for grabbing through the year, if I don't have anything in the box suitable I just give £5 cash, my family is too big to buy for everyone.

I fell a couple months behind on my council tax, hence I now pay it weekly, but I am not looking forward to how much its going to be this year, last year it was about £1300 so its bound to be about £1400 this year, really cheeses me off because the area I live in has no public facilities to maintain, and there loads of holiday homes which get discount for not having full time occupancy.......grrrr.........

wannabedebtfree_2

Updated as I have done a bit of switching around

Income:
Monthly money:
My Wages = £958

Weekly money:
Partner wage = 60
Child benefit = 33.20
Child Tax Credit = 84.00
So weekly money= £177.20


Outgoings: Monthly

Phone = 13
TV Licence = 13
Water = 30
Car ins. = 27
House ins = 8.50
Sky = 16
Broadband = 16
Car Servicing etc = 40

Total = £163.50

DEBTS:
Nationwide CC £7417 (16.9%) = £225
Littlewoods CC £0 (27.9%) = £0
A&L CC £0 (21.9%) = £0
My Egg CC £2200 (17.9%) = £66
Joint Egg CC £3600 (17.9%) = £90
Partners NWest CC £4100 (5.9%) = £105
Tesco CC £2260 (0% for 14 months) = £68

Total = £554

So monthly wage £958-163.50-554 = £240.50 (will have to use some of this for food)

Outgoings: Weekly

Rent = 78.00
Council Tax = 31.00
Gas = £10
Electric = £14
Petrol = £30

Total = £163

So weekly wage £177.20-163 = £14.20 (ouch - why has this got worse??)

GeorgeUK

I think this is getting confusing because you are mixing monthly and weekly amounts. I would suggest doing a monthly SOA and anything that's weekly, multiply by 4.3 to get the monthly equivalent.
http://www.makesenseofcards.com/soacalc.html

TotallyBroke

It's got worse because you have reduced OH wages from £66 to £60 so you are losing £6 per week. Is this a typo or was the first time wrong.
You will have to use some of the £240 on food but if you can put half of it away for car costs and presents then next year you can work out what you have spent and reduce the amount you put aside.

wannabedebtfree_2

Well, I have reduced it to £60 cos thats what I get put in my hand each week, he actually earns a little more but keeps a few quid for his fishing habit!

chevalier

Well done on getting a grip on this. It will get better, but I have to ask why is your OH being paid so poorly? Are they only working part time? Could they up their hours, or get a second job. it would help you immensely if you had a proper second wage coming in...

chev