Is this a sensible budget?

linzibean

Hi all

I'm moving in with OH in June/July and I've been working on a budget. We'll be living in a one bed flat in Aberystwyth, and wanted to know you opinions on the budget I've planned neither of us smoke or drink more tan one or two pints a week, and we dont really go out as we both have home based obbies like painting and dressmmaking

brummiebabe

Well done for being So organised!!

I think it's probably fairly ok - do think you could cut you food budget slightly (try the OS board for ideas and have fun joining in the Grocery Challenge!) Also electric/gas may be a little over estimated - we pay £24 electric and £34 gas - and have a 3 bed house with 2 young children!!

Having said that - better to over-estimate than under estimate!!

Good luck!!!!

fatbelly

The thing that struck me was that food & housekeeping seemed a bit low at less than £35 per week for a couple. However, I expect the credit card is used to buy stuff in the same area.

How about Road tax and car maintenance? Clothing?

What's your income? Any chance of Council Tax Benefit or Housing Benefit (or tax credits?)

Regards

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calleyw

Looks good to me.

Until Last march I lived in a one bedroom flat with my husband and my electric bill per quarter was about £45. And could not get it any lower than that. Gas just depended on season of course. We never used DD with the companies just moved that amount from one account to another until the bill came in. But allowed £15 a month for Gas and electric (that was each). And it was ok most of the time as during the summer you don't use a lot and we use to get from BG bills after discount of about 65p. But that was just for heating and not for cooking with though.

I budget £100 a month for food but spend between £80-£100 a month depending on how many weeks in the month and what is on special offer. So you might be able to slice a small amount off of that. I also allow £10 approx per month for things like washing powder, bleach etc. It is rare for me to spend the full amount every month. A 4kg box of washing powder last months.

As brummiebabe says better to over estimate rather than under as it leaves you trying to find the extra money. And with the extra left over at the end of year it can go towards something that is needed towards the flat. Say new saucepans etc.

Yours


Calley

linzibean

Well i have money put aside for car tax which is due in october so i left that off And as for clothes, in the last 12 months I have spent a grand total of about £30, and about the same for OH!

I have tended to over estimate just in case, I like to bave a bit extra for any fluctuations in bills!

My OH has money from his parents to cover his side of the bills (they arent well off but like most people who have worked hard and know the value of money, have put some aside and are giving it to him as a sort f moving in/wedding present!), and I'm hoping after tax to bring in about £700 a month, which would leave some spare to put aside for our wedding

exil

Your petrol is £30 a month. This suggests about 300 miles a month or 3,600 a year.
With such a low mileage - do you need the car?

With insurance of 960 a year, petrol 360, tax 150 ish, servicing/tyres etc say 300, depreciation - a few hundred to 1000 or more depending on the value of the car -
you are paying at least 2000 to travel 3600 miles - 60p a mile.

ozzyfan_2

hi linzibean

your budget looks great, congratulations on your forthcoming wedding by the way :j

just a thought, do you have many people to buy christmas & birthday presents for, if you do it may be a good idea to include it in your budget.

good luck with the forthcoming move

linzibean

exil wrote:

Your petrol is £30 a month. This suggests about 300 miles a month or 3,600 a year.
With such a low mileage - do you need the car?

With insurance of 960 a year, petrol 360, tax 150 ish, servicing/tyres etc say 300, depreciation - a few hundred to 1000 or more depending on the value of the car -
you are paying at least 2000 to travel 3600 miles - 60p a mile.

You dont live in Wales do you???

Although on a day to day basis we wont be using the car very much (walking to work etc) if we want to visit either of our parents, or do a big shop, it ismor cost effective to drive there than take public transport. Wales can be a bit sparse with things quite distanced from the rest of everything else with public transport generally very, very poor! So unfortunately, financial burden though it is, the car has to stay

ozzyfan, thanks for the suggestion about pressies we dont usually buy our respective parent anything, tending to buy just each other a little something, my sister, his sister, and just send cards to other folks who know we're broke haha! People just expect home made things from us, like dresses fr their kids, painted models, things like that

ozzyfan_2

home made presents are so much more thoughtful than anything shop bought anyway aren't they

have you had a look around the old style forum yet? I think you would be very welcome there as they have threads on dressmaking & crafts amongst thousands of other things!

linzibean

ozzyfan wrote:

home made presents are so much more thoughtful than anything shop bought anyway aren't they

have you had a look around the old style forum yet? I think you would be very welcome there as they have threads on dressmaking & crafts amongst thousands of other things!

I've had a nosy around yes and had some help from lovely people on dairy free foods! Im sure I'll be able to help folks with sewing tips when they need me

fatbelly

fatbelly wrote:

Any chance of Council Tax Benefit or Housing Benefit (or tax credits?)

There are potentially some reasons why you might not get help (age, hours work per week) but it's still worth checking. The best online checker is https://www.entitledto.co.uk.