Help me with new budget

skintchick

Hello all

Well, I have been told that my temporary job is pretty much permanent - at least two months, I see you being here for the duration, said my boss - and I will get two weeks' notice at least if they do decide to replace me, so I need to rework my budget to allow for the fact that I now don;t get home before 8.30pm, and don;t always want to cook. Some nights I get in at 11pm and definitely am not cooking then!

So...here we go.

Powergen leccy and gas...£35
Council tax.....................£133
TV licence......................£10.99
Water meter...................£21
ING savings.....................£50 (should be £150 to cover annual bills)
BT line...........................£10.99
Car loan.........................£173.67 (nine months to go:T )
Broadband......................£11.99
Mortgage........................£312.41
Gym..............................£34 (not that I get to go any more but it's a special rate I'll lose if I cancel and go back later)

Those I think are as low as they can be. The council tax is full rate cos I have a lodger, but more of that later.

Food..............................................£50-60 per month
Petrol............................................£40 (one tank a month, should be less)
Piano lessons..................................£40
Phones (mobi and one tel landline).......£30 (think this going to go up)
Cash..............................................£80

Now, this is the bit that is no longer realistic. The food bill can stay the same for food at home, and the petrol will probably come down a bit.

But the main thing is that I now end up buying lunches, buying food to eat on the way home, going out for drinks after work, buying clothes in my lunchbreak(!), and using my mobile more or I don;t get to talk to anyone in the week.

All of which is par for the course, and I am fine with it, but I need to make my budget realistic ro I will just spend indiscriminately because I have blown it anyway (like I have done this month).

So...

It's hard to know what I get in each month. I get paid £150 per day that I work (no holiday or sick) which is a very good rate. I am finally on teh proper tax code so hope to be able to work out properly what is coming in.

I give ten per cent of my gross income to my church. It's non-negotiable. just take it into account.

I also have a Saturday job one or two days a month, which brings me £144 before tax, about £106 after, plus car parking of £2.50 and my tithe to come off.

I also rent my garage out for £45 a month.

AND I currently rent a room out for £350 a month, although I am wondering whether to continue this at this time?

So, I need to work out what is realistic for lunches (I probably make my own 3/4 days a week), food for dinner when I work late, taxis when I miss my train connection (grrr, I hate the tube), drinks out with colleagues, etc.

I KNOW I AM VERY FORTUNATE!!!! This ain't a moan, and I'm sorry if some of you are readingthis and thinking 'what's her problem?' but if I don;t budget I will spend it ALL AND MORE!!!!

So - what should i allow do you think?
Should I get another lodger? (She's leaving at the end of thee month and I don't actually NEED one right now after all)
Shall I get a cleaner so I don;t have to worry about that when I get home late?

What would you do?? I have about £1200 in savings, and another £1200 of wages (in another pot but all with ING).

I really want to live an OK life but not squander money I might need as and when this job ends.

Your usual fantasic thoughts much appreciated

lynzpower

Morning love

OK my thoughts are this. this job is for the foreseeable, yet nothing is ever set in stone. 2 weeks notice isnt a great deal of time, but better than a day

Personally, Id get the lodger. I cant see what you owe where ( and Ive forgot) but is your DFD in 07 taking into account the lodger income? If not, you could do a snowball calc with one and without one. Ive got a lodger I dont "need" but is money per month I couldnt earn and would be silly to turn down. IN a couple of months her income will go into a regular ISA or something for savings towards moving house or wedding

As for the eating at so late, would you be able to use a slow cooker to do dinner for you when you get in, bang all the ingredients in asyou leave for work & turn on, it will be ready when you get home. Also if you have a lodger, could they stick a jacket potato in the oven for you on the nights you are going to get home at 11.30 ? I find eating at this time too much, so I usually have a snack like a toasted sandwich or something like that. IF you do batch freezing of veggie pasta, or spag bol in tupperwares you could take these to work so you get a proper meal at some point in the day if you are working late. In my desk drawer at work I have some tins of beans & a granary loaf & crumpets, chepie & fairly healthy options when im stuck at work late.

You dont need a cleaner. If you have a lodger, some of the light cleaning can be done by them, you can do the heavy jobs, bathroom/ floors on the weekend.

Not being funny here love, but it does sound as if you are letting the DFW reins go in your own mind looking for ways to spend money "clothes on the lunch break" "shall I get a cleaner" "landline will go up" ( why? you sound as if you will barely be there)

INcidentally your gym doenst look cheaper than any of the other peoples gym that gets posted here, how crucial is the rate that youve got? You are already makig a shortfall in your ING pot, so maybe this has to go too, esp if you wont be going, seriosuly just because something is "cheap" certainly doenst mean you need it!

You are on good money, similar to me, one last heave and your debt will be gone in 2006, not 2007 I suspect
Good luck x

scottishspendaholic

Hi skintchick,

I just wanted to say a huge WELL DONE on the job - I was with you when you were despairing and out of work - so I am so pleased for you. You have obviously worked hard over the last couple of months to prove your worth - I'm really chuffed for you!

The one thing that strikes me is that you really need to get rid of the gym - that's a crazy amount of money to lose every month if you are not using it. So what if you don't get the good rate back, you'll save more in the months that you have cancelled it. Or is there a gym nearer to work that you could go to in the mornings? I know that you commute quite a long distance so this might not be a possibility?

With you working such long hours, I would probably say if you can live without the money, try life without a lodger for the next few months - you can always readvertise. Life will be stressful enough for you with a new job, commuting and little time for yourself without coming home to a messy kitchen or someone else sprawled on your sofa. Then your council tax will go down. The garage income will come in handy though. I would probably recommend you get a cleaner or at least someone to do your ironing - maybe not full pelt as you can't make that much mess/dirt on your own (?) just a couple of hours a week for a quick flick round with the duster.

I guess you know that you need to set yourself a budget every month/week - allowing a certain amount of spends (a fair and realistic amount) for those lunches/clothes/meals/taxis - would £75 a week be enough plus another £15 for cash for weekend spending bits and bobs. That sounds a crazy amount to those of us on tight budgets - but I think you need to be realistic and being a girl about town - those things aren't cheap! I guess you also need to start saving for holidays/sick/unemployment so you have some cash in case you need it.

Did you miss your travelcard off your SOA or do your work buy this for you?

Maybe you could cancel your phone at home and negotiate with your mobile contract provider for a better deal. You should be able to get a good allowance of anytime free minutes and texts for £30 a month. Also - I'm sure you do this already - but make use of the work phone (if you can) and email!

I know how much you enjoy the piano lessons - but do you have time to continue them?

I make your income to be approx £3300 on both your jobs plus garage income so minus taxman savings that is £2,475 ish minus tithe of approx £330 gives you a net income of about £2,145.

So outgoings:-

Powergen leccy and gas...£35
Council tax.....................£100 I've put this at £100, is that realistic for you with no lodger?
TV licence......................£10.99
Water meter...................£21
ING savings.....................£150 (should be £150 to cover annual bills) I would make this up to £150 if thats what you need
BT line...........................£10.99
Car loan.........................£173.67 (nine months to go )
Broadband......................£11.99
Mortgage........................£312.41
Gym..............................£34 I think you should cancel this so not included in total
Food.............................................. £50-60 per month
Petrol............................................ £40 I have kept this at £40 for the moment
Piano lessons..................................£40 I have kept this in just now
Phones (mobile only?).......£30
Cash.............................................. £389.70 I have amended this to £90 per week x 4.33 to get monthly figure

TOTAL OUTGOINGS OF £1,385.75

Leaving you £759.25 - maths has never been my strong point so I'm sorry if this is a bit out! Out of this, I reckon you should probably save £300 a month in case of unemployment/sickness etc and do something useful - start a pension etc with the other £450.

I know that some people might think that you are spending crazily - but I guess you have come on here for help and have a higher income/expenditure than most of us - but you have come on here for help to budget - so good luck! P.S. Any jobs where you are?

Hows the cat? Whens the holiday - its soon isn't it?

Anyway - I hope this is helpful - please let us know what you decide to do.

scottishspendaholic x

ms_london

Good to have you back Skintchick!!

Lynzpower & scottishspendaholic have pretty much covered everything!! :T :T

Just try and remember that you dont know what's around the corner - the job could continue forever, but it also may not.

Where are you off on hol? You say you wont get paid for holiday/sickness? Have you taken this into account when you are away?

I would continue with the lodger if I were you, perhaps just lay a few more ground rules down for the new one - with regards to cleaning etc. Learn from your current lodger & be honest about what you want/dont want for the new one. If you're going to be working longer days you probably wont have to have much to do with the new lodger - so long as they dont take the p*ss because you arent around much....

Could you clear off your debt now that you have some money saved?

Best of luck hun. Dont work too hard though, money isnt everything & you need to take care of your health - dont burn yourself out!!

xx

tesuhoha

I certainly agree with lynz about cancelling the gym. my gym was only £25 pm and it was full of all the latest technology. However, i never went and so it had to go. If I were you, I would save myself that money each month. You can always renegotiate a good rate with them if you want to return. Also couldnt you pay some of your savings off the debt?

Snich

Hi,

Congrats on the job. I would say keep the lodger and save up all the extra cash. I'm glad the job is more permanent... but it may take longer than the two week notice period to get a new one and better to be safe than sorry huh?!

Gym should go definitely. I work late a lot (inevitable in a 56 hour week plus half hour commute each way) and I cook in bulk on the nights when I'm home by 6ish and take leftovers to reheat for the late nights. Failing that, a frozen pizza is cheap (especially if bought on bogof) so will do if you come in at 11pm.
Personally, I wouldn't get a cleaner. Unless you have a mansion, an hour a week will keep on top of things (plus ironing, which I personally don't do). Your lodger should share cleaning - they are not staying at a b+b - it's a rented room!! All mine always did.

You need to get out of the lunch hour spending habit. Sorry to be harsh. I know how easy it is to spend money and it doesn't feel like anything when it's "ooo a bargain top" but you know how it ends up... Maybe it's just me with no willpower. A good (library) book or a surf on the computer can help. Even a walk (but not the shops way!)

Good luck with it all - and I'm impressed at you considering all these things in advance.
Snich x

skintchick

Thanks everyone!

Firstly - the gym rate should be nearer £70. The council gym is the same cost as i pay now but without the classes included, and those are what I do. There is one I can join near work but again it's a council one and the classes are extra. will think about this.

I meant phones in general will go up - mobile obviously but I lump them together for the budget.

I don;t think i can use the slow cooker cos I leave the house at 7.15am, and i thought over 12 hours the food would spoil? Will check over on old Style.

OK, OK, I just want a cleaner!!!! I won;t get one

Is there any point paying off the debt? It's at 0 per cent.

Yes I forgot my travel card! Doh! Currently buying it weekly at £79 a week but will get a monthly or even annual one as it will be cheaper.

Yes, I admit I do want to spend a bit more money, because working these hours with no fun makes for a rubbish life, so I want to keep a balance so I don;t go mad.

Holiday is in a weeks' time!! I go next Saturday for a week to see my mate in dubai. Can't wait!!!

Thanks so much for all your help and wrist slapping! Gotta run as have to do some work (yes at home) and am going out later.

Will try and log on tomorrow.
xxxx

oops_a_daisy

Hi SkintChick - nice to 'see' you back on here

I would say that if you can afford a cleaner and you really want one then get one - I would prefer to pay for a cleaner than spend my weekends cleaning washing and ironing. If you work full time and inparticular long hours it is no fun to come home to more work. I personally would rather earn more and pay a cleaner than do it myself - but thats just me and I HATE cleaning.
I know what you mean about the gym, I used to do a couple of classes per week ( pilates and spinning ) through my local council centre but when I added up what I was paying monthly it worked out cheaper to pay a membership at the gym and then have all the classes that I wanted. Thats not to say that I actually do all of the classes :rotfl:
About lunchtime spending - try not to get into the habit. As we are coming into summer months perhaps you could go to a park and eat your sandwiches instead. Do you keep a spending diary ? - this might help to make you think twice about spending.
If you can keep the lodger then I would as it is a good way to get the extra money to pay for the above and save for the future.
All the best and well done on the job

In_Search_Of_Me

:lovethoug Hi skintchick. Well done on the job & at such a good rate of pay too!! I dont know your history (which people above clearly do!) and guess the advantage of that is that I'm less involved (do you know what I mean?) and looking at what you've said it seems quite simple and I think you probably know the answer but its just possibly not the one you want (am I right or not - feel free to say I'm not if I'm wrong!!)!! The job is not a secure one from what I can gather & you really do need to not forget that and try & get some money behind you in case it doesent last long (which hopefully wont happen but...). Re a lodger from what you have said this seems to be a valuable contribution so would try to continue if you can but make sure you get someone good - nothing worse than a bad housemate & churches not always the best place to find one from my experience!LOL. Cleaner...you really know this one eh! Try & turn it round & think how fantabulously, amazingly, scrummy it will be when you are out of debt & can have a worry free cleaner eh!! (Thats not meant to sound patronising BTW!). A way around thisif you're determined is reduce rent for lodger on the basis that they do the cleaning...personally I wouldnt though as can think of much better ways to spend money!!! Gym...always looking to get lapsed members back with ooo so yummy rates and I know - I have been a member of about six gyms in Cardiff over the last 6 years & they all send me regular mailings and NO WAY!! Cant believe now that I paid 56 a month for something I didnt use...just visualise the money & then you tearing up the money & binning it & see if that helps with the decison!!I'm not sure if that helps at all...big hugs & keep on plugging at it & look after yourself!

skintchick

Thanks! I will talk to the gym. I know you are all right. that's why I come on here, to be given such fab advice.

I think I need to do my spending diary again, as that will stop me spending money at lunchtimes. I do not need more clothes!!! I do not need to buy a posh baguette!!!

Will post my new budget here for perusal later.

In_Search_Of_Me

and doesent it feel great to be back on track? Well done...(not in a patronising way but a WELL DONE YOU nice kind of way!!)