Savings Log of a 26yr old on low pay

ampersand

MoneyWaster2007 wrote: »

Just been paid today and transferred £160.40 into my ISA (surplus income from last month) taking it to £640.32.

Also transferred £50.00 into my Car Fund, taking that to £151.00.

Was going to buy Airplane 1+2 (the films) but then thought I'd see if I can get them cheaper on eBay...will check in a min. :cool:

Going to see a comedian this weekend - Sat' night, so that's something entirely different to what I usually do - and cheap. The ticket only cost £10.

Been going swimming a bit since my eye healed. It costs £4.10 per session though, so only been going once a week. Seen a couple of nice girls there but not had much chance to chat to any of them as they're too busy swimming

Just watching the Arsenal vs Ipswich game and got a few chores to be getting on with so chow for now

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Hi there mw -

I'm sure your Pool[/gym, if it's a complex]have deals going. They're all trying to get monthly/annual subs in.

Ask about swimming only concessions/subscriptions - this would mean you could go as often as poss.

e.g. although I am in a small village, the gym/pool complex is part of the village college and within close walking distance. Not only that, but everything opens at 0645h daily, which I find amazing for a tiny rural place with full mthly swimming:£16. You'd have the spur to use it at least the equivalent of once weekly against your current rate.
And of course, it's brilliant for all-over body toning.

Worth a look?
Good luck. You're still doing brilliantly and considering the ever-tightening times we're in, you deserve even more credit.

So, another mighty WELL DONE!

MoneyWaster2007

How do I do an SOA?

They have a monthly DD thing at the swimming pool which costs £25pm, but I'm wary about signing up to it as I don't want to reduce my surplus income further...

linz

Hi MW,

Here's a link to do an SOA - http://www.makesenseofcards.com/soacalc.html

Taken fron this thread on the DFW board which tells u how to fill it in - https://forums.moneysavingexpert.com/discussion/107280

MoneyWaster2007

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 977
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 977

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 332
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 33.19
TV Licence.............................. 3.75
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 100
Clothing................................ 0
Petrol/diesel........................... 70
Road tax................................ 11.67
Car Insurance........................... 59.72
Car maintenance (including MOT)......... 38.33
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 60
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 728.66


Assets
Cash.................................... 640.32
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 1140.32

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 977
Expenses (including HP & secured debts). 728.66
Available for debt repayments........... 248.34
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 248.34

Personal Balance Sheet Summary
Total assets (things you own)........... 1,140.32
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 1,140.32

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

snowqueen555

How do you keep entertained on a budget, I'm pretty bad at not withdrawing money

newcastleneil

Hi MW
I just read your spread sheet thing .Your car insurance looks mighty high £60 a month or £720 a year to insure a car thats worth £500 .Couldnt you find any where cheaper ?

Regards

pbny24

If you are going swimming it's cheaper to go to starbeck/knaresborough pool than the hydro by 40p per time or £9 a month for the swimming membership

ampersand

Are you sure that £3.75 mthly for TV Licence is correct,mw?
Can't see how.
pbny24's info re: swimming looks good, too:
£9 a month for the swimming membership

Meadowman

You're doing a really good job of things, MW. Years ago I was heavily in debt, CCJ etc, but turned it all around with only ever saving for what I needed rather than getting credit. We have no debts and growing savings, so your story is encouraging. We also save by cooking everything from scratch and never eating ready meals, etc. Look up some websites on frugal food, love food hate waste, etc. If you can also reduce your car use - walking where possible, you can both bring your fuel bills down and get fit without having to sign up to expensive leisure centre contracts. Good luck

MoneyWaster2007

Thanks for the replies..

..feeling a bit down in the dumps today. Works not gone very well and keep reminiscing on old times with the ex - girlfriend..need to get a grip.

Have stopped smoking and am on day 16 as a non - smoker :j

Staying in on my own tonight...can't wait for payday, only 13 days to go :cool:

Hoping to deposit £200 this month taking my ISA to approx. £840

Then will put £50 into the car fund taking that to £201

So the money's getting better, but still girlfriend- less

The £3.75 tv license is based on £45 annual as it was a 4 way split being a shared house.

Went to Starbeck pool last week which is cheaper but a smaller pool and a bit too crowded

Snowqueen - in answer to your question of how do I keep myself entertained on a low budget...well...I am mainly at work and in the evenings I either go swimming/watch tv/surf the net/ etc. At weekends I go out (much less often than the old days) but usually spend a lot of time at my mum nd dads or at home doing same old boring chores...and generally being bored :cool2: