Just getting started as a money saver

mh1923

I picked up Martin's book at the library on impulse, and had a smug moment on the first page when he says "If you've just bought this book, why on earth didn't you borrow it from the library instead?"

Of course the smug didn't last long, as I kept reading!

Anyway, I am thrilled to find this site. I'm a US ex-pat who moved to the UK a year ago (internet romance - marriage visa - very happy! ) and though I'd prepared myself mentally for a lot of the culture shock, I hadn't thought of all the financial differences. Taxes, bank accounts, pensions, TV TAX!!!! :eek: (I know it's technically a 'license', but I always think of it as a tax on my television viewing!) This site is such a great help in helping me understand my own money!

I don't have many debts (about

£

2500), as I don't have much credit history here, but everything is maxed out, and we are only making minimum payments. The budget I made before finding Martin's book and this site just barely made ends meet with no provision for any emergencies, and nothing extra to pay down debt and start saving for a home. But just this weekend, I implemented a few of the easy changes I read about here which will save us about

£

300 a year! That was really encouraging. If I can save that much without trying hard, then there must be even more money to find with more effort!

I know I can get my APRs by calling the card companies tomorrow. But I'm having trouble figuring out my income. I have a full time job that pays 12,500/year, so it should be simple enough just to look at my paystub. But I always do overtime. It's never the same amount per month, and I don't want to count on it, in case it suddenly goes away (not likely anytime soon, but I'd rather be safe than sorry). So how could I figure out what my after tax and pension pay would be without overtime?

Sorry for the long ramble, and thanks so much for the help!

-Michelle

fairylights_2

Hey Michelle! Check out this site - http://www.whatsthecost.com/salary.aspx

On 12500 it says your monthly pay is £853.48 per month.

This site also has a snowball calculator so you put in all your debts and it tells you how much to pay them and how long it will take you. It is a godsend!

Wishing you best of luck in your moneysaving!