Immoral_angel's Debt Diary

Jo4

immoral_angeluk wrote: »

How do you mean?

I work out what has to be paid, ie electric, telephone, mortgage ... and then divide by 4 when means that every 13th week is free. Therefore 4 free weeks in the year. I was wondering how you work out yours as it sounds better than my way and perhaps I could help my friends to be debt free quicker.

Please do not feel obliged to answer!

immoral_angeluk

Ah got you.. ok this is how I work it out (just an example)

Ste wages + my mat pay = £1500

-all bills (DD's etc) eg £800
-driving lessons eg £60
- food budget (total for month) eg £180
- petrol budget (total for month) eg £30

= £430 which I then divide by the number of days in that month for example not including the last working day as that's when it all starts again
£430 / 30 days = £14.33 a day which you can then times by 7 to work out a weekly budget so £14.33 x 7 = £100.33 a week.
We then write a spending sheet which is something like this..
Daily budget £4.33/Weekly budget £100.33

31st-
1st-
2nd-
3rd-
4th-
5th-
6th-

---

Week 1 total =

week 2, 3, 4 etc etc plus also a couple columns to put in our food and petrol budget spends.

So we write down everything we spend in the relevant colomn and any general spending gets totted up at the end of the week and then we take that off the weekly budget and move anything we've saved over the the debt account.

Hope that makes sense!

Edit also forgot to mention that at any point of the month we can check up how we're doing just by using how much is left in the bank, taking off whatever bills are left and how much left we've got in the food and petrol budget and then dividing by the number of days left in that month.

Bunnyinthelights

IA,
At the risk of soundign like a broken record, blooming WELL DONE! Gwad, you are sooooooooooooooooooooooooooooo switched on!

I am so in awe of you hunny.
Bunny x x x x

System

immoral_angeluk wrote: »

Anxiously opened internet explorer and typed in my log in details....Covering my face with my hands for fear of the worst as the page loaded........

Hey I-A that's what I used to do before my LBM except I never peered over my fingers. Nice hair do BTW. Could you send some of your cuttings my way pse! That's a fabulous take on how you manage your budget, I may have to try it! Lenny

Jo4

immoral_angeluk wrote: »

Ah got you.. ok this is how I work it out (just an example)

Ste wages + my mat pay = £1500

-all bills (DD's etc) eg £800
-driving lessons eg £60
- food budget (total for month) eg £180
- petrol budget (total for month) eg £30

= £430 which I then divide by the number of days in that month for example not including the last working day as that's when it all starts again
£430 / 30 days = £14.33 a day which you can then times by 7 to work out a weekly budget so £14.33 x 7 = £100.33 a week.
We then write a spending sheet which is something like this..
Daily budget £4.33/Weekly budget £100.33

31st-
1st-
2nd-
3rd-
4th-
5th-
6th-

---

Week 1 total =

week 2, 3, 4 etc etc plus also a couple columns to put in our food and petrol budget spends.

So we write down everything we spend in the relevant colomn and any general spending gets totted up at the end of the week and then we take that off the weekly budget and move anything we've saved over the the debt account.

Hope that makes sense!

Edit also forgot to mention that at any point of the month we can check up how we're doing just by using how much is left in the bank, taking off whatever bills are left and how much left we've got in the food and petrol budget and then dividing by the number of days left in that month.

THANKS for the explanation, must go and talk to friend to see if they done it your way would they be better off or could they manage?

brainfreeze

immoral_angeluk wrote: »

Ah got you.. ok this is how I work it out (just an example)

Ste wages + my mat pay = £1500

-all bills (DD's etc) eg £800
-driving lessons eg £60
- food budget (total for month) eg £180
- petrol budget (total for month) eg £30

= £430 which I then divide by the number of days in that month for example not including the last working day as that's when it all starts again
£430 / 30 days = £14.33 a day which you can then times by 7 to work out a weekly budget so £14.33 x 7 = £100.33 a week.
We then write a spending sheet which is something like this..
Daily budget £4.33/Weekly budget £100.33

31st-
1st-
2nd-
3rd-
4th-
5th-
6th-

---

Week 1 total =

week 2, 3, 4 etc etc plus also a couple columns to put in our food and petrol budget spends.

So we write down everything we spend in the relevant colomn and any general spending gets totted up at the end of the week and then we take that off the weekly budget and move anything we've saved over the the debt account.

Hope that makes sense!

Edit also forgot to mention that at any point of the month we can check up how we're doing just by using how much is left in the bank, taking off whatever bills are left and how much left we've got in the food and petrol budget and then dividing by the number of days left in that month.

Superb idea which I will just 'pinch'. It makes so much sense it should be obvious - but like most things in my life I need to be shown the way:D

Spendless

brainfreeze wrote: »

Superb idea which I will just 'pinch'. It makes so much sense it should be obvious - but like most things in my life I need to be shown the way:D

Yes I'm going to pinch it too. My husband gets paid on the last working day of the month, and it drives me nutty. It makes more sense to divide money by each day you have left.

Jo4

IA do you want to tell me how to organise anything else in my life or friends life for that matter?

immoral_angeluk

Jo4 wrote: »

IA do you want to tell me how to organise anything else in my life or friends life for that matter?

Yea definately I'd like to see how other people work it out! lol!

immoral_angeluk

Tonight was phase 1 of K's new bedtime routine as part of my 'new me' regime... She had a bottle just before 8, then a bath and we put her straight to bed after wards instead of bringing her downstairs. She's been in bed since just before 9 and we've not heard a peep out of her except for a bit of shuffling around and muttering to herself.
This is how we're going to do it every night from now on. Steve and I actually got to sit and eat dinner in front of the tv together which we haven't done in ages.
Fingers crossed she does as well tomorrow night too!

Tomorrow she's got her jabs though so I guess we'll see what happens.