New money saver!

crossleydd42

weebag wrote:

Ha ha, yes, I know - in my heart I know at least one of the bikes has to go......at least until I (we) get on our feet again!

Fiance is (or has been) a nitemare with money too - and so I am bailing her out as well as myself, although we have agreed jointly that things need to change. Also need to get the kids to accept that life will be slightly different from now on - not so many treats!!

Mark

I hope your fiance has had the lightbulb moment, too!

Kelinik

Hi Mark, I'm relatively new to all this to and just wanted to say hello from another one making a lot of changes. *waves*

weebag

Thanks all for the help and support! Just sat down with OH and did our budget on Martins budget tool - we are still in the black each month, but need to get our house in order (and yes, im resigned to selling a motorbike)

Anyway - here we go!

Income
Income = £1556.33 monthly
OH= £678.50 monthly
Child benefit = £69.80 monthly
OH Child Benefit = £93.60 monthly
Tax Credit = £41.90 monthly
Maintenance from EX = £183.26 monthly
Total: £2,623.39 a month

Outgoings
Mortgage £687.97 (17 ½ years left, owe £96,000 – house worth £175,000)
My loan A&L 6.1% £5,000 - £151.96 monthly
My loan Abbey 5.9% £6,000 - £169.03 monthly
OH loan Natwest 9.4% £7500 – £195.61 monthly
OH Next account £155.36 @ 0%
OH Sainsbury Card £1309 @ 15.94%
OH MBNA card £2253 @ 17.47%
OH Capital One card £379.92 @ 11.90%
OH Barclaycard card £177.22 @ 18.32%
OH Egg card £887.16 @ 15.90%
My Natwest card £4009 @ 0% (until 10 October)
My Citi card £2630 @ 5.9% for life (card cut up and not used)
Lloyds TSB card £0 @ 14%
Council tax £1141 yearly (£114.15 a month for 10 months)
Shopping £303 monthly (family of 2 adults, 3 kids, 2 cats, 1 dog)
Going out £0
Gas / Electric £93 monthly (Powergen Gas / Southern Electric)
Water £232 a year (£19.33 monthly)
Sky £31 monthly
Broadband £17.99
TV License £10.99 monthly
Telephone £25 monthly
House Insurance £29.93 a month (got ½ price quote through tesco for renewal)
OH Petrol £40 monthly
OH mobile bill = £20.00 monthly
OH child mobile bill = £20.00 monthly
OH Car Tax £10.00 monthly
+ odds and sods (haircuts, cloths etc etc)

Total = £2282.27

weebag

Well - was going to go out with Mrs tonight for a meal (kids all away with respective parents!), but instead we decided to stay in and cook:
Thai green curry (veggie, made with Quorn) and rice: total £3.00
Bottle of discounted white: £3.99

Bought with clubcard points to go towards deals.

Money saved £25.00 put towards a cc debt!

I think im getting addicted to this site!

Weebag

PS - we also counted up all the 'loose change' in moneyboxes etc £36.00 towards a debt! :j

weebag

Hmmm, Natwest 0% about to run out, so I applied for a Post Office CC and a SKYCARD cc - both with 0%, thinking I would be turned down for both...

Well, PO card arrived with £6400 credit limit, and no fee for BT - so that is now LOADED! :T

This morning, had a call from SKYCARD - been accepted, o% till June 07 (but nearly 3% BT fee) - still, looks like I can transfer some Mrs debt to that for a while!

All in all a good week - and at the weekend, I went out dirtbike riding!! Wahay...(still not sold road bike yet though......:o )

freda

Council tax £1141 yearly (£114.15 a month for 10 months) Make the most of the two months 'off' in Feb/March - don't just let it vanish.
Shopping £303 monthly (family of 2 adults, 3 kids, 2 cats, 1 dog)
Going out £0
Gas / Electric £93 monthly (Powergen Gas / Southern Electric) Sounds high. Check the articles on this site re. switching provider, and learn to reduce your useage - see https://www.lbym.co.uk and there is also a thread on the Moneysaving Old style board here
Water £232 a year (£19.33 monthly)
Sky £31 monthly could you do with freeview instead? This is a lot of money when you have a lot of debt.
Broadband £17.99 Easy to get for £15 pcm these days. Small saving, but it all adds up
TV License £10.99 monthly
Telephone £25 monthly
House Insurance £29.93 a month (got ½ price quote through tesco for renewal)
OH Petrol £40 monthly
OH mobile bill = £20.00 monthly
OH child mobile bill = £20.00 monthly Thats a lot for a child. If they are old enough to have a mobile that they use socially, are they old enough to earn the money to pay for it? I.e. paper round if old enough, household chores if not.
OH Car Tax £10.00 monthly



You are missing:

Car MOT
Car Maintenance
Car breakdown recovery
Car insurance
Car parking

Life insurance
Emergency fund - saving for when the car breaks down etc

Childcare costs
School trips / kids days out in the hols costs
Clothes/haircuts/school uniforms
Presents/xmas savings
Subscriptions, i.e. gym, mags, kid's clubs etc

Oh, and check how much your company car is costing you in tax. Most are extortionately expensive and, if your company offers a car allowance as an alternative, you may well be better off going for that and running your own car.

bluezone

weebag wrote:

Thanks all for the help and support! Just sat down with OH and did our budget on Martins budget tool - we are still in the black each month, but need to get our house in order (and yes, im resigned to selling a motorbike)

Anyway - here we go!

Income
Income = £1556.33 monthly
OH= £678.50 monthly
Child benefit = £69.80 monthly
OH Child Benefit = £93.60 monthly
Tax Credit = £41.90 monthly
Maintenance from EX = £183.26 monthly
Total: £2,623.39 a month

Outgoings
Mortgage £687.97 (17 ½ years left, owe £96,000 – house worth £175,000)
My loan A&L 6.1% £5,000 - £151.96 monthly
My loan Abbey 5.9% £6,000 - £169.03 monthly
OH loan Natwest 9.4% £7500 – £195.61 monthly
OH Next account £155.36 @ 0%
OH Sainsbury Card £1309 @ 15.94%
OH MBNA card £2253 @ 17.47%
OH Capital One card £379.92 @ 11.90%
OH Barclaycard card £177.22 @ 18.32%
OH Egg card £887.16 @ 15.90%
My Natwest card £4009 @ 0% (until 10 October)
My Citi card £2630 @ 5.9% for life (card cut up and not used)
Lloyds TSB card £0 @ 14%
Council tax £1141 yearly (£114.15 a month for 10 months)
Shopping £303 monthly (family of 2 adults, 3 kids, 2 cats, 1 dog)
Going out £0
Gas / Electric £93 monthly (Powergen Gas / Southern Electric)
Water £232 a year (£19.33 monthly)
Sky £31 monthly you simply have to cut this at present
Broadband £17.99 this can be got for cheaper as well
TV License £10.99 monthly
Telephone £25 monthly
House Insurance £29.93 a month (got ½ price quote through tesco for renewal)
OH Petrol £40 monthly
OH mobile bill = £20.00 monthly
OH child mobile bill = £20.00 monthly can I ask why you are paying for a childs mobile phone - cut it back for a while until you get your house in order. Some people on this site have £20 month for 2 PAYG phones
OH Car Tax £10.00 monthly
+ odds and sods (haircuts, cloths etc etc) How much are you spending here as there is no amount?

Total = £2282.27

These are my opinion and I do not mean to offend

pounds_and_pensive

No useful advice, but thought your efforts so far well worth stopping by to applaud

weebag

Thanks for replies...some good points!

Ref company car - I work for a car manufacturer, and we get the ECOP scheme (employee car ownership plan), so I only pay a tiny amount of tax (about £100 per year)! Also, there is a little known tax 'avoidance' that can earn me £2000 at end of tax year....so im on a winner!

Child mobile - TELL ME ABOUT IT!!! Its the other halfs son - if he was mine, the phone would be in the bin! (sorry to rant)

Sky - Its high I know, have reduced package but have sky+ to record motorbike racing! My one luxury???

AM about to try witching gas and electric after martins advice to hang on till level playing field...

Oh, and had letter back rom natwest ref bank charges - offered £170 (claiming over £2000), so have sent an LBA!

Thanks all - it helps to keep coming back here and getting ideas...it really does.

Weebag

bluezone

I think you are doing well anyway to start and that you know you should sell one bike at the mo is great going