Where can i cut to save?

mysterygirl1986

Hi Everyone,

Can anyone suggest any ways i can cut back to start saving for a holiday next year to see someone i haven't seen in over 6 years going to cost me £3000 which includes hotels flights food spending money etc without getting my self in a mess? at the moment i have £300 in my emergency fund which i could use there was £15000 in there but had 6 funerals to pay out for. which is why i feel like i could do with a break.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 960
Partners monthly income after tax....... 0
Benefits................................ 63
Other income............................ 0
Total monthly income.................... 1023
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 275
Management charge (leasehold property).. 0
Council tax............................. 50
Electricity............................. 15
Gas..................................... 15
Oil..................................... 0
Water rates............................. 10
Telephone (land line)................... 12
Mobile phone............................ 15
TV Licence.............................. 13
Satellite/Cable TV...................... 20
Internet Services....................... 0
Groceries etc. ......................... 20
Clothing................................ 5
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 7
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 2
Haircuts................................ 2
Entertainment........................... 2
Holiday................................. 0
Emergency fund.......................... 1
Total monthly expenses.................. 514

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
COUNTYWIDE COLLECTION..........337.......20........0
PROVIDENT......................364.......28........136
Total unsecured debts..........701.......48........-

Monthly Budget Summary
Total monthly income.................... 1,023
Expenses (including HP & secured debts). 514
Available for debt repayments........... 509
Monthly UNsecured debt repayments....... 48
Amount left after debt repayments....... 461
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -701
Net Assets.............................. -701
Created using the SOA calculator at Reproduced on Moneysavingexpert with permission, using IE browser.

Nottoobadyet

is this right? do you really only pay £20 for food per month? If you do, you are way ahead of most of us!

Do you really have almost half your income left at the end of the month? If you do, you'll be out of debt in just 2 months and could save up for the holiday in 6.

Tixy

Hi

Do you really have the £461 showing left each month? I think some of your costs may not be included right - eg groceries at £20 and haircuts and entertainment at just £2per month?
To be honest because your costs are so low there doesn't look to be much you could cut. I guess you could think about whether its worth cutting out sky tv to be able to go on holiday but there doesn't look to be much else.

Instead could your increase your income at all? Get a second job in the run up to xmas perhaps (eg bar work or something and save all that money towards your trip). Have you looked and researched to see if you could do the holiday cheaper? spend some time looking on MSE for tips on the cheapest flights, hotels etc

mysterygirl1986

Hi There,

Yes only £20 a month on food £10 for me and £10 for the cats. I eat mainly pasta rice baked beans and frozen veg and I only ever eat smart price brands I haven't had named brands in years I only eat a banana in the morning adn a bit of pasta for lunch and then a a small meal in the evenings. I used to onlyeat in the evenins. But the doctors advised me to eat more myfodo spend was only £5 a month for myself at one point. sometimes I only have £300 left for the past year because of the funerals. I want to get my savings up again is £20 really low food 1 person and 2 cats a month then?

Tixy

£60 would be low for 1 person and 2cats. Eating for 30p a day long term is almost impossible to eat sufficent food and stay healthy.

Even if you only have £300 left a month you can clear your debts in less than 3 and easily start saving towards your holiday. When do you intend to go? as long as its not early in the year you should be able to save sufficently without needing to reduce your outgoings anymore.

hounslow_boy

mysterygirl1986 wrote: »

Hi There,

Yes only £20 a month on food £10 for me and £10 for the cats. I eat mainly pasta rice baked beans and frozen veg and I only ever eat smart price brands I haven't had named brands in years I only eat a banana in the morning adn a bit of pasta for lunch and then a a small meal in the evenings. I used to onlyeat in the evenins. But the doctors advised me to eat more myfodo spend was only £5 a month for myself at one point. sometimes I only have £300 left for the past year because of the funerals. I want to get my savings up again is £20 really low food 1 person and 2 cats a month then?

Troll alert :rotfl:

VanillaDelia

£10 a month for 2 Cats food??? Are they on 1 meal a day or something? I have 2 Cats and they cost me £30/£40 a month in Food. I would love to know what they eat to achieve such little cost.

mysterygirl1986

hounslow_boy wrote: »

Troll alert :rotfl:

Sorry no I am not a troll 6 of my family members have died within 3 years of each other I do not go out I do not drink I only have my hair cut once a year I have alopecia so the person I go to just shaves it off for me and I am also recovering from a eating disorder so that is why my food at the moment is so low until I can bring myself up to normal eating I am sorry if you think I am one of these trolls and it disturbs me that you think I am one. I came here for advice and obviously I will not get that off some people. I am looking for a part time christmas job which I am finding it difficult as I only have administration experience and retail shops in my town are looking for people with retail experience but I am trying. As for entertainment I don't go out or anything like that I put £2 in there incase I do get a takeaway which I haven't done in since before my relatives died. I am still trying to get over the loss and I am deeply hurt and upset from the accusion that I am a troll.:(

mysterygirl1986

VanillaDelia wrote: »

£10 a month for 2 Cats food??? Are they on 1 meal a day or something? I have 2 Cats and they cost me £30/£40 a month in Food. I would love to know what they eat to achieve such little cost.

they eat tesco's smart price dry food 2 times a day

Nottoobadyet

Mysterygirl - you still havent told us the most important thing: do you really have the amount that the SOA says is left at the end of every month? If you do, you really dont need any advice or need to cut back in order to save enough for your holiday. If not, there is something missing off your SOA.

mysterygirl1986

Yes I do have that amount left over at the end of the month but I have this holiday coming up and I also want to have my savings lifted up as well. I will have to find also £500 worth of fee's soon as i want to get some lawyer training and have to pay a £600 deposit for so I want to save the money for a holiday and get savings up together to get my life on track. the job I have at the moment I never know when its going to end as I am a tempoary member of staff and I need my savings up again which is why I was asking for help. If this is the wrong place i'm sorry but i couldn't find anywhere else to put it.