Taxi 73 diary

taxi73

HERE WE GO
INCOMINGS

This is the least I can expect
Taxi earnings £3835.00
my IB..............£265.85
OHs pension.....£143.30
C/C credits.......£113.56(variable)

TOTAL.............£4357.71


OUTGOINGS
MORTGAGE 386.27
GAS/ELEC 64.00
C/TAX 91.00
WATER 18.41
TV LICENCE 11.61
PHONE/BB 19.99
GAS SERVICE 26.39
CRITICAL/LIFE/INS 57.15
BU/CTS INS 35.44(DUE FOR RENEWAL OCT)
GYM 42.00(NEED TO GET FIT/LOSE WEIGHT)
MOBILE 1 17.50
MOBILE 2 20.00(DUE RENEWAL)
CAR INS 27.47(329.74 PAID IN FUL)
PETROL 20.00(GUESS)
R/TAX 13.50
REPAIRS/MOT 30.00(GUESS)
AA 7.50(PAID IN FULL UNTIL JAN)

TOTAL £888.17

TAXI
SUBS 611.00
BADGES 11.00
PITS 11.00
MOT/REP 200.00 (GUESS)
DIESAL.....400.00
ACCOUNTS 12.50
NI 22.00
TAX 250.00
C/C MACHINE 27.50
CAR TAX 13.50
TAXI INS 91.00(1080.77 PAID IN FULL)

TOTAL £1649.50


DEBTS

CAR LOAN £10995.....£271.95X48
LOAN 1 £196.60X49
LOAN 2 £186.01X50
TOTAL..........£654.56

EGG CARD £4917.00
BARCLAY £4109.20
bOTH 0% PAY AS MUCH AS I CAN EACH MONTH.THESE ARE ONLY ROUGH BASED ON THE LAST MONTHS FIGURES AND BASED ON PUTTING THE MONEY AWAY TO COVER THE SAME EXPENSES NEXT YEAR.

taxi73

I haven't put food on so say £200 p/m but that's an over estimate as have never added up what we spend...if having a budget for food for £200...I should have approx £765 left if I've done it right!!!....I have worked out £100 off each CC into that equation to be left with that..but have paid all those big bills not having put anything away ...so will now have to work out how much into each pot every week....
Feed back is welcome!!!

sophiesmum_2

Wow Taxi that's some soa.
You must really have your finger on the pulse with your finances to be able to sort out the household and business expenses in that much detail.
Bet it feels great being so much in control, and even saving towards next years tax bill too.:T

sophiesmum

taxi73

Hi Sophiesmum...its quite liberating really...I feel quite in control!!!...I always pay bills as and when they come in and don't budget for them...this is where I come unstuck...so if I make a pot for each one before paying the debts then I should always have the money for everything when needed!!!...that's the plan don't know whether it'll work in theory!!!

dreams_R_free

Well done Taxi! There was you struggling to get your business accounts done last week and then you come up with a brilliant set of your own accounts in the blink of an eye:rotfl: .That's put me to shame:o . I MUST pull my head out of the sand and get on with listing mine.

One thing I've noticed is that you haven't mentioned costs for incidental spending such as going out, birthday/Christmas gifts,hairdressing, clothes,regular prescriptions etc. Didn't you mention you had a dog(or it may be someone else whose diary I read ),do you have vet's costs or pet insurance? I'm not being picky, I wouldn't have the cheek seeing as I haven't even tried doing mine yet. But you asked for feedback and it's often easier for outsiders to spot things that the writer misses.

Now sit down now and put your feet up. You've earned it.:beer:
Take care
Imp

sophiesmum_2

Hi Taxi
Sounds like a plan to me. I siphon money off into separate accounts then I know where it is when I need it. Many banks will let you have multiple savings accounts that you can name as cash pots. Halifax let me have 5 web saver accounts, an isa (not much in that one:rolleyes: )plus my current account and a credit card (nil balance at moment:D ) I use internet banking and can shift money around with a click or two until a bill is due, then move it to current account and pay online.
I know then that what is in my current account is spendable;) and if theres anything left at the end of the month I swish it into the isa.It also means I am getting the interest on my bills money until they are paid, which with your tax savings and taxi insurance money etc should add up for you.

sophiesmum

taxi73

Hi Imp ...thought I was going mad....I couldn't work out where all that extra had gone...not very good at SOAs....incidentals I will need a budget...I don't spend regularly on these...saying that I have to have a budget for those ...so will work it out...I'm terrible...I really need to have budgets

taxi73

Sophiesmum...great minds think alike...I have a halifax high interest account and ISA and the web saver accounts(thats where I'm stashing the tax money)...thanks for the suggestion.

taxi73

I will put £125 p/m away for all those incidentals thanks...

sophiesmum_2

Hi Taxi

Have you seen the regular saver one too?
Thinking of doing this for our hols money - you set up a standing order for a set amount each month (up to £250 I think) but you can't get the money out till the end of the whole year - good for any money that you need to save monthly and definately don't want to dip into - might be useful for your taxi insurance as you are just about to pay so won't be due for 12 months