New user...SOA help!

isy1011

I try to use myself as a comparison when I look at these SOA's. Also have 2 children.

You earn less than us by about £600 month (only cos we both work full time), you have a bigger mortgage, you look like you are just paying minimum payments on debt.

Yet your mobile phone is £20 month more, your shopping bill about £70 more/month, car insurance way more, life insurance way more,

Gym and beautician!! get real. I pay £4 to use gym at our local sports centre and get eyebrows shaped every 6 weeks for £12. You cant afford the amount you are paying.

paulm_1974

isy1011 wrote: »

I try to use myself as a comparison when I look at these SOA's. Also have 2 children.

You earn less than us by about £600 month (only cos we both work full time), you have a bigger mortgage, you look like you are just paying minimum payments on debt.

Yet your mobile phone is £20 month more, your shopping bill about £70 more/month, car insurance way more, life insurance way more,

Gym and beautician!! get real. I pay £4 to use gym at our local sports centre and get eyebrows shaped every 6 weeks for £12. You cant afford the amount you are paying.

Thanks isy1011.

We definitely need to look at all these extras and get real.

If you are more or less in the same situation, or ANYONE ELSE outhere, what do you have, as a guide, for Life Cover, Critical Illness etc...

We currently spend a total of £119 a month on Life and Critical Illness Cover and Income Protection Insurance in the event (touch wood) one of us gets seriously ill and cannot work or one of us (mainly me with the higher income) becomes unemployed. This insurances would, in this unfortunate scenario, pay for bills/mortgage...

I thought everyone had or had to have something similar...

I appreciate your help.

Cheers
Paul

liney

I noticed you don't pay for childcare, which implies your wife works part time around your hours? In that case do you really need 2 cars?

Don't be too quick to drop your insurances, but do look and see if you can get a better deal, or really need the level of cover you have. I'd much rather be rid of:

Lottery................................. 10
Beautician.............................. 34
Gym Membership (family)................. 75
Child Trust Funds (x2).................. 20

Tell your wife she needs to wax her own legs or there's no Christmas money... GL

looktothefuture

I have life insurance, critical illness cover and woman's cancer cover all for £20 a month. I also have an income protection insurance which costs an additional £10 a month. Maybe just have a look and see whether your insurance cover is right for you or if you can get a slightly lower deal.

ps... loving the new SOA! I can understand it!