Newbie

cheesyfeet

Hello, I am very new to this thread.

My Darling wife and I are trying to get enough to buy a house, and I know we need to make savings.

We have a car loan that is due to finish Jan 09 and we pay £354 a month.

We don't budget at the moment but live month to month, sometimes running out of money and scrapping by. We both earn a good wage but seem to waste it....a large kick up the backside would be appreciated. I don't normally have anything to do with the money, my wife does but she is getting sick of having to do everything.

Any help would be appreciated.

Thanks

Cheesy

mozzyc

Bumping you up because so many people on here can teach you different ways to budget.
You've just got to be determined and look at the bigger picture.
Good luck

cheesyfeet

Thank you, I just need some direction/inspiration

Ames

The two places to start are to do a statement of affairs, which is all your income and outgoings, there's a template here:

http://www.makesenseofcards.com/soacalc.html

Then people can advise if you're paying over the odds for anything and where you can cut back.

The second thing to do is start a spending diary, write down everything you spend, even a few pence for a bar of chocolate. Again, you can see where you're wasting money and where to make changes.

MarkinDiss

Have you got internet banking? You may find it easier to save if you can get an account with current account and savings account linked. I purchase household stuff (not luxuries) on a credit card that pays me cash back, put my residual money after the DDs have gone out into the savings and just top up the current account as I need it and to pay the credit card in full.
You'll find doing this that you tend to think before dipping into the savings. Do not buy luxuries on the credit card unless you can really afford to do this and can pay it off when due. The savings and cashback only gives small amounts of money over a year, say £50, but it is still the bank paying you.
I have my account with the Alliance and Leicester. At the moment they will also give you a 0% overdraft which you can use for a year and leave more money in the savings. Don't forget, however, to always leave a £1000 in the savings if using this, it is technically not your money!
Good luck.