Spending, saving, snogging and smiling!

Snaggles

Helloooo again!

Haven't updated for a while because there hasn't been much to report, but have a few things to confess/sort out.

Firstly, I have sold my shares today - some of this will be used to replace savings I have used this year, some will be given to Stu as it was saved whilst we were together, and that leaves £700, which is fab, except secondly...

My credit card bill is currently standing at £1250. _pale_

There are a few reasons for this:

- I didn't spot the renewal notice for my car insurance (someone had put it on a shelf :rolleyes:) so instead of arranging to pay monthly as planned, they took the whole lot at once from my credit card - £525!! I could have probably knocked £150 off this if I had shopped around too, so feel free to give me a good kicking on that one...

- My MOT cost £300, which I had to pay by credit card as I didn't have enough to cover it.

- I have also spent about £250 on carpets/furniture/other random 'stuff' for my bedroom, which is finally finished other than a few little finishing touches (curtains need hemming, pictures hanging).

The rest has just gone on Christmas presents, and the usual shopping/petrol.

When the share money hits my account on the 19th, I will pay £700 straight to the card, and then I will have to set myself a bit of a challenge to clear the rest without touching savings!

It will actually have a positive effect on my SOA, because without the car insurance each month, there wont be as much of a deficit, if any. Time to update that I think!

Snaggles

And to all those following the love-life saga...

Pacman Snogger is long gone, as is Unstable Weirdo who came after him, and currently appear to be getting rather cosy with Mr Sunday again...

vandanfc

It will actually have a positive effect on my SOA, because without the car insurance each month, there wont be as much of a deficit, if any. Time to update that I think!

No it won't - if you don't save up for next years insurance it will go on cc again and you will be in debt again. You need to save up monthly for your next renewal.

Snaggles

Household Information
Number of adults in household.......... 1
Number of children in household........ 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax.......... 386 (childcare, pension and sharesaves are deducted at source)
Benefits................................ 759 (think this has gone up a bit since last time)
Other income (maintenance)......150
Total monthly income...............1295

Monthly Expense Details
Mortgage................................ 250
Council tax............................... 65
Electricity................................ 39
Gas......................................... 55
Water rates.............................. 33
Telephone (land line).................. 20
Mobile phone............................ 35
TV Licence............................... 12
Satellite/Cable TV...................... 20
Internet Services....................... 15
Groceries etc. ......................... 250
Petrol/diesel............................ 100
Car Insurance............................ - (paid outright)
Other child related expenses......... 20
Contact Lenses.......................... 15
Buildings insurance....................... 9
Contents insurance...................... 9
Life assurance .......................... 21
Other insurance......................... 29 (MRP, travel, phone, camper)
Entertainment............................. 5 (works lottery - can't leave)
Tax Credits repayment...................9
Total monthly expenses............ 1011



Total monthly income.................... 1,295
Total monthly outgoings.................1,011
Amount left................................... 284

From the amount left, I transfer £40 a week into a separate 'spending' account, which has to cover clothes, entertainment, presents, haircuts etc. So worst case scenario, in a 5 week month, I have £200 going into the spending account, which leaves a surplus of £84. :j

Blimey, my finances are finally taking shape!

But I know it's due to a couple of 'twist of fate' type occurences, so I can't afford to be complacent (literally!).

I will tackle the credit card first of all, and once it has gone, I will try to save a little each month in an instant access account. The problem has been that my savings are all long term sharesaves, so no 'liquid assets' (lol, get me! :rotfl:), but if I could even just get a couple of hundred put aside for minor emergencies, things would feel more comfortable!

Snaggles

vandanfc wrote: »

No it won't - if you don't save up for next years insurance it will go on cc again and you will be in debt again. You need to save up monthly for your next renewal.

Not strictly true - my intention was to pay monthly for my insurance. As I stated, it went on my credit card by accident. It might cost a little more to pay monthly, but it works for me to do it this way. And that's how I intend to do it next year (the surplus in my account will be sufficient to cover car insurance, but until then I will use it towards paying off the card and towards savings).

The reasons that the insurance being paid by credit card this year is not a disaster are that a) it means I no longer have a shortfall, and b) the apr is actually cheaper on my credit card, so even if I decide to pay it on there every year, I would save money. But I would still prefer to have a regular direct debit for it.

It might not be entirely financially astute, but it keeps things simple, which to me is worth the few extra quid a month.

beanielou

Looking good hun

Snaggles

Bum, just found a Next bill that needs paying today. Luckily I didn't spend my 'spending' budget last week (surprisingly, standing in the cold at an amateur (but very exciting) hockey match is FREEE, as was the rest of the evenings 'entertainment'... ). So I can afford it, but there's always something! :rotfl:


Edit - Done! Have £1.46 to last till Friday! :cool:

beanielou

Sure you can manage on 49p a day:eek::rotfl:

skint_spice

Have you any indoor car boot type things near you Snaggs? Maybe the kids could have a preSanta clear out which would help with space in the house after xmas too...

Snaggles

Lol Beanie! I don't need anything hopefully - have done the shopping, have petrol in the car, only thing I might need are tissues and painkillers at this rate, and can probably get those without going over budget!

Skint - no, I wish there was, I would love to do that. I have a big cupboard full of 'carboot and ebay' stuff. Wonder if I could persuade the school to have one in their hall?! (This is the school that hates me though lol...so I am doubtful!)