Floozie does Frugal 2010

mooomin

Intergalactic_Floozie wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information

Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2

Monthly Income Details

Monthly income after tax................ 1201.07
Partners monthly income after tax....... 1163.46
Benefits................................ 176.76

Total monthly income.................... 2541.29

Monthly Expense Details

Mortgage................................ 386
Council tax............................. 83
Electricity............................. 32
Gas..................................... 90
Water rates............................. 37.2
Telephone (land line)................... 63 Per month???!!!???
Mobile phone............................ 65 How many for, contracts?
TV Licence.............................. 12.12
Groceries etc. ......................... 300 Get thee to Old Style!
Clothing................................ 70 Reduce, not needed!
Petrol/diesel........................... 185
Road tax................................ 32
Car Insurance........................... 91.75
Car maintenance (including MOT)......... 90
Other travel............................ 3 ??
Other child related expenses............ 62 ??
Medical (prescriptions, dentist etc).... 7.2 ??
Buildings insurance..................... 8.5
Contents insurance...................... 8.5
Life assurance ......................... 21.32
Other insurance......................... 30.86 What's this for?
Presents (birthday, christmas etc)...... 70 Have you been putting this away every month?
Haircuts................................ 18.5
Entertainment........................... 60 What's this for?
Emergency fund.......................... 75 Have you been putting it away and what's in the fund?
Husband's pocket money (non negotiable). 200
Tea fund at work........................ 4
Buy now pay later tumble drier.......... 12.5
Football Season Ticket.................. 20
Windows................................. 6 It's winter, nobody will see if you don't wash them
Newspapers.............................. 13.6
College ................................ 120What's this for?
Total monthly expenses.................. 2278.05

Assets
Cash.................................... 500
House value (Gross)..................... 120000
Car(s).................................. 3000
Total Assets............................ 123500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 77000....(386)......1.5
Total secured & HP debts...... 77000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................17000.....297.4.....9.9
HSBC...........................1936......48........0
Halifax........................2068......21........12.9
Halifax........................3031......31........12.9
Total unsecured debts..........24035.....397.4.....-

Monthly Budget Summary
Total monthly income.................... 2,541.29
Expenses (including HP & secured debts). 2,278.05
Available for debt repayments........... 263.24
Monthly UNsecured debt repayments....... 397.4
Amount short for making debt repayments. -134.16
Personal Balance Sheet Summary
Total assets (things you own)........... 123,500
Total HP & Secured debt................. -77,000
Total Unsecured debt.................... -24,035
Net Assets.............................. 22,465

I have put in stuff for running costs of the car / house insurance etc but in reality I don't put any of that away.

Loan last payment is not til February 2015

Car dates:
My MOT: June 2011
My Road Tax: Feb 2011
My Car Insurance: Oct 2011
DH MOT: May 2011
DH Road Tax: Nov 2010
DH Insurance: Mar 2011

Ok, the Red Pen Of Doom has been applied and my thoughts are above. The things that jump out at me at the mobiles, other phone and entertainment. I think you could get the groceries down to £200 per month with really careful planning and taking advantage of offers in the supermarket.

What do you have in the cupboards at the moment? There's nothing as dull or as useful as an inventory It's in my plan for today as I need to see what I need as Costco tomorrow and what's just me going "Ooh, three gallons of sauce!"

moo2moo

The obvious things first..... you talk too much! Do you really NEED to spend £128 a month on phone calls? Really? Honestly?

Your SOA isn't really as honest as it should be. Its time to be harsh lady! You don't have an emergency fund, you haven't saved up for next month road tax and now you're panicking...... am I close?

Your food bill is way more than £300 a month and the entertainments budget doesn't cover what you actually spend.

Mostly though the reason you're panicking is Christmas is a mere 9 weeks away and you haven't saved anything towards it.... an you know you'll end up spening a grand or so on presents and feeling sick on Christmas Day.

The SOA you've provided is all v. nice for where you'd like to be in 6 months time but we need one that covers the next month. The one that says I have to pay this and this and this but don't have anything saved up ... then we can make a start. Its not going to be easy but then you know that already.

So start digging through cupboards. What can you find that you don't need? Get it all bunged n E0bay. I know its soul destroyingly tedious, been there, done that, got the t-shirt. So we're going to divide project E-bay into chunks.

Today - list enough stuff to cover OHs road tax. Put sensible minimums in. Don't just start everything at 99p. Everything from outgrown kids stuff and books to dusty stuff in the garage. Whilst you're at it do something to make yourself feel good. Anything. But don't spend any money doing it. Use your imagination.

Tomorrow - list enough stuff to give you a chunk of cash towards Christmas or the credit card bill or even just to generate a safety net. Yes its dull but its necessary and don't go thinking you can't find anything, theres always something. Start with the clothes that you'll never wear or fit into again... and the shoes you hate and the handbags you never use....

You can do this. Most importantly you will do this. We're here to kick you up the behind to mke sure you do!

Dare I mention the under-rated Spending Diary? The True Confessions of Floozies Elves! Confess away, rant a little and laugh a lot because its going to get harder before it gets better!

mooomin

moo2moo wrote: »

The True Confessions of Floozies Elves!

Methinks we have a title for her next diary thread...!

A spending diary (an honest one!) is an excellent idea. It's Free Listing on Ebay this weekend as well, so you won't incur any fees for listing things above a 99p start price. I found last time that by padding the list price a little and adding free postage more people were interested, so that can be worth doing.

Intergalactic_Floozie

Ah FF - I see you got your hands on this before I did my amendments.

Windows - yes, I think I will get rid. I paid for my next round in advance, so if I catch him when he comes to do them, I will tell him his services are no longer required. I am sure he doesn't do them properly anyway as my side window has a mahoosive cobweb which has been there for months and it never seems to disappear.

Telephone: £63.00 - this is my Virgin Media payment per month for internet, phone, TV and Sky Sports. I do get mates rates though but she's been made redundant so I don't know for how much longer, don't know if they will let me keep it. It would probably go up by at least £20 if not

Mobiles: This is for 3 of us. Mine is £18, DH is £34 and DS1 is £14

Clothing: Probably don't spend £70 per month, but over the year this will include school uniform, shoes, coats, trainers, football boots, bags for school and clothes when needed

Other Travel: £3 - 'just in case' I can't pick DS1 up from school (£1 per trip), or I need to get bus somewhere (£3.30 for round ticket)

Child Related: £20.00 pocket money DS1 (14), £10.00 after school football (DS2), £8.00 cubs (DS2), £6.00 per week football subs x 2 kids.

College - not paid all year round. DH has to do 4 modules and an exam. Total cost will probably be around £1500. One module is done and paid for (£250). This year's module rocketed to £360.00 (one payment left @ £120). We'll have to start paying again in September through to May, then he has a final exam which is around £150 (not sure exactly).

regarding birthdays / emergency funds / car running costs - I haven't been putting these away, just worked out what I would like to put away.

However I do have £542 in my savings account, which will probably be for Xmas.

Intergalactic_Floozie

Okay - with the 'stuff that I need to put away but don't' - updated and groceries upped to current level

]Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1201.07
Partners monthly income after tax....... 1163.46
Benefits................................ 176.76
Other income............................ 0
Total monthly income.................... 2541.29
Monthly Expense Details
Mortgage................................ 386
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 83
Electricity............................. 32
Gas..................................... 90
Oil..................................... 0
Water rates............................. 37.2
Telephone (land line)................... 63
Mobile phone............................ 65
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 400
Clothing................................ 0
Petrol/diesel........................... 185
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 3
Childcare/nursery....................... 0
Other child related expenses............ 62
Medical (prescriptions, dentist etc).... 7.2
Pet insurance/vet bills................. 0
Buildings insurance..................... 8.5
Contents insurance...................... 8.5
Life assurance ......................... 21.32
Other insurance......................... 30.86
Presents (birthday, christmas etc)...... 0
Haircuts................................ 18.5
Entertainment........................... 60
Holiday................................. 0
Emergency fund.......................... 0
Husband's pocket money (non negotiable). 200
Tea fund at work........................ 4
Buy now pay later tumble drier.......... 12.5
Football Season Ticket.................. 20
Windows................................. 6
Newspapers.............................. 13.6
College ................................ 120
Total monthly expenses.................. 1949.3

Assets
Cash.................................... 500
House value (Gross)..................... 120000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 123500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 77000....(386)......1.5
Total secured & HP debts...... 77000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................17000.....297.4.....9.9
HSBC...........................1936......48........0
Halifax........................2068......21........12.9
Halifax........................3031......31........12.9
Total unsecured debts..........24035.....397.4.....-

Monthly Budget Summary
Total monthly income.................... 2,541.29
Expenses (including HP & secured debts). 1,949.3
Available for debt repayments........... 591.99
Monthly UNsecured debt repayments....... 397.4
Amount left after debt repayments....... 194.59
Personal Balance Sheet Summary
Total assets (things you own)........... 123,500
Total HP & Secured debt................. -77,000
Total Unsecured debt.................... -24,035
Net Assets.............................. 22,465
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.[/

Intergalactic_Floozie

I'm off to do some cleaning now. That'll be my 'feel good' factor for the day....

mooomin

Intergalactic_Floozie wrote: »

I'm off to do some cleaning now. That'll be my 'feel good' factor for the day....

Knickers to that for feel good factor.

Long bath with yummy smelling things

Intergalactic_Floozie

Oh no, I like a tidy house.

Tidy house, tidy mind and all that. Sadly it's rarely achieved.

moo2moo

Several more questions whilst I defrost... remind me next year when I decide to bulk buy logs that it will snow on delivery day. Its chuffing freezing and I have 5 tons to move from the drive to the log store.

Anyhoo...

The "Halifax" things are these loans, credit cards or overdrafts? The reason I ask is because the amount you're currently paying on the 12.9% APR is less than the monthly interest being added so you're not making any headway at all. You need to up the repayments to these even if its only by a fiver it'll make a deifference unless of course its a fixed loan and then you can just slap me across the chops with a limp kipper.

Ditch the newspapers!!!!!! ... I seem to recall you have a magazine subscription. Read the papers on line or the ones other people leave lying around at work. Its money you don't have to spend, money you don't need to spend and money that can be better used else where.

Intergalactic_Floozie

The Halifax things are the Clarity credit cards and of course you are correct that the interest is higher than the minimum payment.

!!!!!! - had forgotten about my magazine subs!