help needed with finances please

pennypusher

You could try to change your phone supplier and get it cheaper, it does seem fairly high. Check the comparison sites for Insurances. Your Gas and electricity are high, again check the comparison sites and also see if you can save money by perhaps having the heating on lower or for less time and not leaving the oven on when not needed, boiling only enough water for a drink and not the whole kettle etc.

Can you use the car less often and maybe do two jobs at the same time instead of making two separate trips? Maybe car share for work?

How about selling your car and replacing it with a cheap run around and then using the money to pay off some debts so you don't have to pay so much interest?

Have you tried to get a 0% cc that you could transfer some of your debts onto?

Holiday - you need to decide if it would be better to go without this year and pay off your debts with the money instead? Have a look at the snowball to see what would be the best option for you.

Hope these ideas help.

katsu

Christmas - I do around 25 people for ~£170 a year. I shop all year round in the sales - buy gift wrap, cards and even classic toys now, then store for a year. Make handmade gifts (kids can make for granny, aunty etc). Use charity shops, 99p shop - just be always on the look out. This makes a comfortable budget at £20pcm to include other occasions.

Gas and elec - check if you are on estimated bills, check if another supplier is better for you and cut down your usage as it seems high to me.

Check all your insurances are best value with comparison sites.

Check if you really have the amount of money left over your SOA suggests once pressies are corrected. If not you need to focus on a spending diary and understanding where your money is going, in order to be able to make savings.

Good luck.

bobsthree

I have applied today for a 0% card for 16 months with barclaycard it was accepted but dont know what the credit limit is or if the ammount i have asked for (£ol8500) will be accepted.

sp1987

What sort of tuition does your son have? Can it be any cheaper? I think because you have muddled a few numbers up your SOA will be quite misleading. You have a good income and low costs percentagewise for mortgage, groceries etc. I think you need to concentrate on being exact with your figures too as you said presents were £600 if not more. Best to check so you know exactly what amounts you are dealing with before you try and alter them.

As with other comments, you can't afford £100 month on a holiday currently. That's £1200 a year and if you needed (and could afford) a break you could do a couple of weekends away in this country for cheaper and still have had a break. Lots of deals pop up for £19 a night travelodge type breaks pop up and you could go to different cities.

Technically, because you have a fair amount of equity in your home, you are in a good position if you consider the bigger picture. Though I appreciate that doesn't help cashflow.

MFWannabe

bobsthree wrote: »

I have applied today for a 0% card for 16 months with barclaycard it was accepted but dont know what the credit limit is or if the ammount i have asked for (£ol8500) will be accepted.

Hi bobsthree
I recently applied for Barclaycard and i had an e-mail couple of days after applying saying what my credit limit was going to be.
I think if you put in an amount that you are wanting to transfer then they probably take that into account when setting your credit limit. But if you don't get the full amount you asked for then still transfer as much as you can.

haycorns

bobsthree wrote: »

We have a large family but you have made me think, I might be the new scrooge next year. It usually goes on cc but just worked out how much we spend and it does come to £600 if not more. Will have tobe tight to get out of this mess. Thanks Bob

Not tight - just cretaive on presents. Start a stash of stocking fillers / generic presents etc bought in the sales.