ok here we go

just_starting_out_2

Thank you

I scrapped a car this week and need to send off the refund for the tax disc. £30 extra to go to the op - should get it in 4-6 weeks

LilacPixie

Might be a silly question but your childcare costs, would it be viable for you to get childcare vouchers from your employer as part of a salary sacrific scheme? Bit concerned about your benefits total too, i though child benefot was £21 ish a week and as your income only 2k net between you should there be tax credits there too? I know they are being phased out as of april 2011 but possible extra money until then.

Electricity seems high if you both work and as child care needed i'm guessing at the same time so home will be empty part of the day. Maybe look at trying to reduce that or making sure you are paying an appropriate amount and not staying in too much credit. LAst year we stayed in credit but over £400 over the winter and then it started to creep up in spring so we reduced our monthly payment to balance it off this winter.

just_starting_out_2

Domino9 we are with virgin so tv, telephone and broadband and have only been with them aprox 6 months. regarding mobile, clothes and fun stuff that all comes out of what is left of our wages after the £1000 each comes out

just_starting_out_2

LilacPixie dd is now 5 and i have never got round to sorting out vouchers - very silly i know - will look into that as of next week. thank you also we do get £30 tax credits a month and CB so i might not have worked that out correctly

museumworker

Hello and welcome, good luck with your MFW journey.

I am a little confused about your SOA. Are your other 2 mortgages covered under the Secured loans part?

Holidays, phones, clothes and fun stuff is not included in the SOA - and this is where money can disappear quite quickly, so would recommend you keep a spending diary for a while to see what you are spending, and then setting a budget you cannot go above for those areas in your SOA. I have a £100pa budget for clothes, after realising that I was spending lots more than that from my diary. There are some online ones which are quite good, or paper and book also work well for me! Believe me, £469 spare is not a lot if you haven't accounted for presents, holidays, hair cuts, nights out, nights in, entertainment, and mobiles!

Your electricity seems high, I pay about £60pm for 3 bed house for gas and electricity. Grocery spend looks good.

Best of luck, and hope that helps.

just_starting_out_2

The electricity is both gas and electricity npower take it as one dd. will try the diary idea out may see if other half will try it out too for a month or so. I have three mortgages at three different rates which is messy but means if i ever have loads of cash i could op £1500 a month so I have kept it also two smallest are fixed rates. But you have reminded me that I need to speak to n power thank you

just_starting_out_2

have just spoken with npower and they have lowered our payments to £31 electricity and £61 gas

so a small saving

:j

just_starting_out_2

well got the internet banking details this morning and after a few problems have managed to send first overpayment - only £10 - to check that its working. So i guess this is where it really begins.:j

Secret_Saving_Squirrel

Good luck in your journey!

Squirrel

BeauBelle

Good Luck with your MFW journey.

BB