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Posts: 36 Forumite
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 3,000.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 180.00
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.67
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53.53
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38.42
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,148.00
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 800.00
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.40
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.65
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.50
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.75
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.33
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.17
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.83
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.50
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,180.00
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,280.87
Husbands income is about to go down by £300 per month hence the stated overspend as I have put the current expenditure but the income is what will be expected from next month - so not in debt just in urgent need of a new budget!
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 3,000.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 180.00
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.67
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53.53
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38.42
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,148.00
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 800.00
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.40
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.65
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.50
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.75
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.33
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.17
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.83
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.50
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,180.00
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,280.87
Husbands income is about to go down by £300 per month hence the stated overspend as I have put the current expenditure but the income is what will be expected from next month - so not in debt just in urgent need of a new budget!
0
Comments
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How many people live in the household? £800.00 for food seems like an awful lot!Getting married 02.08.14
Wins for the wedding: membership for a 'wedsite' and app, £35 gift voucher for party supplies shop, £50 worth of hand painted signs, 1kg of heart shaped marshmallows :money:0 -
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 3,000.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 180.00 - will this increase with the change in wage?
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00 - 2 £15 a month contracts? any due for renewal? if so go through to their cancelations debt who can usualy give cheaper line rental
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 - this is quite expensive, go on samknows broadband checker and see what is availiable on your exchange and i will try and advise from there
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 - this is also expensive find out who and when you are calling people and see if you can get a inclusive bundle to get it cheaper
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.67
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00 - these are massive, do you have arrears? if not get your annual usage in KWH and pop them into a comparison site to find out if you are on the best deal if not clear cookies and swap through a cashback site like quidco
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53.53
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203.00 - see if you can pay over 12 months not 10 and see if you are on the correct band
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38.42
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,148.00
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.00 - sometimes better to bank this and pay a local to do it, most of the insurance deals have restrictive terms and condidtions which can mean the insurance is worthless if something big goes, but of course this has its risks if you cancel it
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 800.00 - auch are you feeding the 5000 by any chance? a frugal grocerie shop is about £60 per person per month, some people on these forums can do a family of 4 for £150 a month!!
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.40
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.65
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.50
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.75 - do you need quite as high cover? when is renewal? check the deals and use cashback sites!
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75.00 - this will possbably have to drop to cover the drop in wages
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42.00 - on top of groceries?
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00 - on top of groceries?
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33 - can you use clubcard points (if you shop at tesco) for some of these
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 - in all honesty there should never be a shopping for fun as you either need something or dont, get rid of this and add a bit extra to family days out
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.33
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.17
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67 - already booked?
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.83
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 - read them online?
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.50 - charity begins at home unfortunately
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 - take packed lunch
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 - on top of all the eating out and groceries?
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,180.00
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,280.87
Husbands income is about to go down by £300 per month hence the stated overspend as I have put the current expenditure but the income is what will be expected from next month - so not in debt just in urgent need of a new budget!
ok i have made a few comments above and the good news you have some massive savings you can make,
however please can you let us know how many people live in the house so we can say what appears reasonable for the people living there. also what debts do you have and debt repayments?Drop a brand challenge
on a £100 shop you might on average get 70 items save
10p per product = £7 a week ~ £28 a month
20p per product = £14 a week ~ £56 a month
30p per product = £21 a week ~ £84 a month (or in other words one weeks shoping at the new price)0 -
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 3,000.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 180.00
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00is this for both of you?
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00this can probably be cheaper
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.67
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00i dont pay household bills but this seems high
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00 same as above
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53.53
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203.00can you pay over 12 months? it would free up a few pounds every month
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38.42
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,148.00
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 800.00this is far too high!!!! people on oldstyle boards feed families of 4 for £200 a month and less. Cut this down by half and you wouldn't need to cut back anywhere else.
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00whats this?
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.40
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.65can this be cheaper?
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.50
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.75
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42.00shouldnt this come under household shopping?
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00whats this?
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00unnecessary
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33cinema should come under this
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00what is this?!
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33and this?
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00spending £800 on food then this is definitely unnecessary
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.33
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.17
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67new work clothes all the time?
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00only buy for children
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.83
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00unnecessary
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.50
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00again, £800 on food then more money spent at work?
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00see above.
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,180.00
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,280.87
Husbands income is about to go down by £300 per month hence the stated overspend as I have put the current expenditure but the income is what will be expected from next month - so not in debt just in urgent need of a new budget!
Lots of things for you to think about, but might be better if you use the statement of affairs calculator on makesenseofcards website as it's more straightforward and easy to read.
Good luck!!
Became Mrs Scotland 16.01.16
Became homeowners 26.02.16 Baby girl arrived 27.10.16 Baby boy arrived 16.09.20180 -
Hi jane
Firstly how many people in the house? 2 adults and 2kids perhaps?
and how many cars? 1?Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 3,000.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 180.00 are you getting all you can? check out www.entitledto.co.uk. If you are a single parent do you get any Child support?
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 should be able to get cheaper (perhaps by combining with phone, cheapest deal is about £20 combined)
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.67
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00 high, do you have arrears? are you with the cheapest supplier
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.00 quite high, see elec.
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53.53
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203.00
Home Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38.42 is this the cheapest available (hard to judge without knowing house value)
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,148.00 how much is house worth? what is the mortgage apr and balance?
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.00 shop around, you can get cheaper.
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 I would recommend something here
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 800.00 very high, aim for no more than £80pp, £60pp would be better (including drinks below). Try meal planning for the week before you go to the shop and try the disount supermarkets or own brand products.
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.40
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.65 check you have the best deal at renewal (not partic high though)
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.50
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.75 shop around, may get the same cover cheaper.
Debt Repayments do you not have any debts aside from the mortgage? no overdraft etc?
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 are you paying into a pension? is it deducted from your salary
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00 is this needed?
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 what do you buy with this?
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Clothes, Health & Beauty
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.33
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.17
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 do you need this every month in addition to work clothes?
Big One Offs
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.83
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 consider reducing/reading online?
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.50
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 is this needed?
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,180.00
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,280.87
Husbands income is about to go down by £300 per month hence the stated overspend as I have put the current expenditure but the income is what will be expected from next month - so not in debt just in urgent need of a new budget!
As your expenses exceed your income I've put a few suggestions in where you could cut back. Looks like you need to make up around £400 per month, I imagine most of this could be made up from the grocery budget alone. Not all are essential (especially as you are not in debt), but obviously no point wasting money if you can get exactly the same for cheaper (in terms of things like internet/insurance etc).
Do you not have any life insurance? this might be a good idea with having children
Do you not work? is this due to young children? how soon do you expect to return to work?A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Electric/Gas
I would suggest shopping around for your gas and electric get quotes by unit prises and discounts not dd amount as can change, but unit prices are what you are being billed too.
House Ins
same with shopping around for your house insurance
Shopping
write down what you need on a list and only buy what on your list, so plan your meals etc.
also have a look at making own cleaning products, i now only use and old spray bottle some stardops mixed with water and antibacterial disinfectant.
I have also made my own gloop today and very happy i did as will save me a fortue on daz or persil, i made 4 litres worth which will last me.
you need soda crystals and one bar of soap some people use unscented if have irratating skin, but i used asda's own coconut soap, their is a thread on this topic i made the 4 litres which wil last me ages costing me £1.00 to make instead of £8.
look at cutting back on clothes spends if not why not have a sort out and put your old bits on ebay??Trying to make big cut backs!!!
:TExpecting DS2 EDD 28/March/2012:T
:bdaycake:0 -
Sorry I haven't been back - it had to post and run then didn't log back in for ages - the responses are all very helpful - but I can see my info was a little sketchy - so to clarify the position we are in.
We are a family of 5 (plus 2 cats) we have 2 in nappies and one in y1 at school. The amounts for clothes etc are not really a regular monthly spend just an annual spend divided up between the months if you know what I mean. I have fast growing children and a husband who needs to look smart at work, but I buy as much as I can at bootsales and charity shops for the children and I. We also source most of our christmas and birthday gifts and toys at car boot sales (but I think we could buy less there as when things are cheap to get it is tempting to indulge!).
I have a mobile on a fixed contract with a year to run so can't save there, we have phone/tv/broadband bundle with virgin and probably wopuldn't change that as the cable broadband connection is very fast and reliable I don't think other providers would be able to match and we use it (particularly my husband).
I am looking at changing or elec/ Gas provider but the house is large and detached so probably expensive to run regardless - but I try to be efficient.
I agree the largest saving is to be made in grocery shopping, I bake a lot and can make bread etc. we are veggie so no expensive meats, but I do buy organic and have a weekly veg box - so if necessary we can save there - I will look first at all the unnecessary treats, making pack lunches (for husband) and cutting down waste first.
I do not work at the moment, probably won't work fulltime until children are in secondary school at least, but next year my youngest will be able to start going to pre school for a session or two. In the meantime we at least have minimal chidcare expenses and I don't drive (we ahve a car which husband drives but we don't use it much) so fuel costs are low and I can walk to most of the places I need to go to regularly.
So in all we are I think going to be tuightening on unnecessary expenditure and waste cutting and I will aim to run a couple of car boot stalls this summer. Is there anything obvious I am missing???? I am a natural spendthrift buytI am trying very hard to clamp down so it is a good experience for me to be cautious and not carefree.:)
Btw - we do not have any debts or overdraft, we have small childtrust funds for children. We are not eligible for CtC. I do have a small pension from my prev job in Local Govt but am not adding to it at present, my husband has pension deducted from his salary. Life ins is something I have looked into and will probably sort out soon. Our Hol is just a week at a cottage in Wales and will be cheap.0 -
well the groceries are the biggest saving you can make, i feed my family of 5 - me wife 17 year old step son 13 year old step daughter and my nearly 2 year old girl on £300 a month and that includes meat for food and all the toiletries and cleaning equipment so you should be able to easily half your grocerie shops freeing up about £400 a month and thats even without taking out the lunchs at work and th extra snacks coffes etc which can knock another £50 a month
basic things to start are
meal planning - work out what you will eat for the week and only buy what you need to make them
batch cook - see if some things are cheaper to buy in bulk if so buy them and then when you cook cook more than you need and freeze the extra for home made ready meals
the drop a brand challenge - maths in my signature, but basically see about swopping your branded items for the brand lower, such as if you buy keloggs corn flakes, next time buy tesco's own and see if the are acceptable (nice enough that you will still eat them) then after a few months of using the lower brand to allow you to get used to them then try the lower brand again so the value or discount brand and see if they are acceptable, of course some things wont be for example i can not use value toilet roll, however a lot of things are fine in the value range
Drop a brand challenge
on a £100 shop you might on average get 70 items save
10p per product = £7 a week ~ £28 a month
20p per product = £14 a week ~ £56 a month
30p per product = £21 a week ~ £84 a month (or in other words one weeks shoping at the new price)0
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