Any tips to help me improve my budget?

cazzzie987

Posted below so info, just wanted some help on how to lower my ougoings, thanks in advance!

Number of adults in household........... 2
Number of children in household.........0
Number of cars owned.................... 2 (1 paid off)

Monthly Income Details
Monthly income after tax................ 400 (applying for a full time job)
Partner’s monthly income after tax....... 1433.33(I only get £250 so only including this)
Other income............................ 375(rent from partner and extra income)
Total monthly income.................... 775.00

Monthly Expense Details
Mortgage................................ 191 (interest and repayment)
Secured/HP loan repayments.............. 135.33(my car)
Council tax............................. 123.00
Electricity............................. 25
Gas..................................... 25
Water rates............................. 23
Telephone & internet (land line)................... 15
Mobile phone............................ 22 (2 mobiles – one is free as partner works for Orange, other contract is up with Voda in March and will change to Orange to get a discount of my bill)
TV Licence.............................. paid off for the year until next June as a xmas present by my grandmother
Satellite/Cable TV...................... 0
Entertainment..............................50.00
Internet Services....................... included with the phone
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 40(for both)
Road tax................................ paid off in both cars until next June
Car Insurance........................... Paid off on both cars until next June, my car gets paid as a birthday present yearly
Car maintenance (including MOT)......... 0
Pet insurance/vet bills................. 0.00 (got two cats but they have been vaccinated this year so 0 until next year)
Buildings/ Contents insurance..................... 23
Life assurance ......................... 0.00
Other insurance......................... 0.00
Childcare................................0
Presents (birthday, christmas etc)...... 10 (I only buy for partner and close family so the amount over the year is not so big)
Haircuts................................ 10
Critical Illness Insurance.............. 0.00
Dental Insurance........................ 0.00
Mortgage Payment Plan................... 0.00

kerry13238

have you checked entitled to to find out if your entitled to any help also try top cashback you can get up to £100 on some things like insurance and utilitys or % back on what you spend in some shops it can be a real help

BeautyandtheBeast_3

hi - are you in the right tax band? just wondered if that could help??

milliemonster

cazzzie987 wrote: »

Posted below so info, just wanted some help on how to lower my ougoings, thanks in advance!

Number of adults in household........... 2
Number of children in household.........0
Number of cars owned.................... 2 (1 paid off)

Monthly Income Details
Monthly income after tax................ 400 (applying for a full time job)
Partner’s monthly income after tax....... 1433.33(I don’t get this all) you mean your partner doesn't contribute ANYTHING??????
Other income............................ 375(rent from partner and extra income)
Total monthly income.................... 650.00 where is this total from?, (I get 400 + 375 to equal £775??? excluding your partners income)

Monthly Expense Details
Mortgage................................ 191 (interest and repayment)
Secured/HP loan repayments.............. 135.33(my car)
Council tax............................. 123.00
Electricity............................. 25
Gas..................................... 25
Water rates............................. 23
Telephone & internet (land line)................... 15
Mobile phone............................ 22 (2 mobiles – one is free as partner works for Orange, other contract is up with Voda in March and will change to Orange to get a discount of my bill)
TV Licence.............................. paid off for the year until next June
Satellite/Cable TV...................... 0
Entertainment..............................50.00
Internet Services....................... included with the phone
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 40(for both)
Road tax................................ paid off in both cars until next June
Car Insurance........................... Paid off on both cars until next June
Car maintenance (including MOT)......... 0
Pet insurance/vet bills................. 0.00 (got two cats but they have been vaccinated this year so 0)
Buildings/ Contents insurance..................... 23
Life assurance ......................... 0.00
Other insurance......................... 0.00
Childcare................................72.00 (2 days after school club each wk)
Presents (birthday, christmas etc)...... 10 (I only buy for partner and close family so the amount over the year is not so big)
Haircuts................................ 10
Critical Illness Insurance.............. 0.00
Dental Insurance........................ 0.00
Mortgage Payment Plan................... 0.00

I have added a couple of comments in red above, there doesn't seem mcuh you can tweak but you aren't putting anything aside to pay for your car insurance, car tax and TV licence when they become due?

Also, where does your partner fit into this? some of your amounts don't add up?

You have a child but have no life insurance?

Ames

You have to put in the monthly amounts for yearly expenses like car tax, tv license etc. Otherwise when they come around again you'll struggle.

Why are you paying for everything and your partner nothing?

You need some insurances as millimonster said.

Also why nothing for car maintenance?

cazzzie987

kerry13238 wrote: »

have you checked entitled to to find out if your entitled to any help also try top cashback you can get up to £100 on some things like insurance and utilitys or % back on what you spend in some shops it can be a real help

Thanks for your reply.

Yep not entitled to council tax benefit as partner earns too much and not entitled to working tax credit as only work 16 hours pw with no kids.

I have used topcashback and made £200 in the last year, it is good but slow to pay.

cazzzie987

BeautyandtheBeast wrote: »

hi - are you in the right tax band? just wondered if that could help??

Yes unfortunately Thanks your reply..

milliemonster

Ah, I see your partner and extra income contribtion is £375 a month, how much out of this does your partner give you? as half of your combined bills comes to:

Mortgage £95.50
Council Tax £61.50
Gas and Elec £25
Water £11.50
Telephone £7.50
Entertainment £25
Groceries £60
B&C Ins £11.50
Childcare £36
Petrol £20
TOTAL £353.50

Is this your partners contribution?

milliemonster

cazzzie987 wrote: »

Thanks for your reply.

Yep not entitled to council tax benefit as partner earns too much and not entitled to working tax credit as only work 16 hours pw with no kids.

I have used topcashback and made £200 in the last year, it is good but slow to pay.

Why are you paying £72 after school club if you have no kids?

cazzzie987

milliemonster wrote: »

I have added a couple of comments in red above, there doesn't seem mcuh you can tweak but you aren't putting anything aside to pay for your car insurance, car tax and TV licence when they become due?

Also, where does your partner fit into this? some of your amounts don't add up?

You have a child but have no life insurance?

Thanks for your reply, No I have no kids.

I know I added the total up wrong will amend now thanks.

My partner pays me £250 a month rent as its my house, he helps with food but otherwise dont get anything else.

TV license is paid for my by nan as a xmas present and my car insurance is paid by my mum as a birthday present. I used the cashback I got for my car tax. I just dont have enough left to save!

kerry13238

yes they can be i save mine up and use the cashback to pay for christmas nice to have a bit extra then. if you have a child you should get something from tax credits or is that the extra?