Budgeting and Saving

welshgirl21

Hi,

I don't know if I am posting this in the correct place, apologies if not.

I would like to know what is the best way to save money each month and still enjoy yourself? My partner and I both work full time yet struggle for money each month; most of the money goes on the mortgage, bills etc, we have money left over but it never seems enough.

I transfer £200 from my salary each month into my savings account, yet always end up using it when I run out of money or extending my overdraft. If we went out for dinner every week, bought new clothes all the time or went on weekends away every month I would know where we needed to make savings and cuts, but we don't do any of those things. This is why I get frustrated as I want to be able to do those things with Rob, not cooped up in the house all the time unable to go anywhere or do anything.

I seem to have nothing to show for not having money at the end of the month and now there are some building work that needs to be done on the house to make it safe e.g. the garage is caving in and is structurally unsafe but we can't afford to do it, the lean to is rotting and needs to be brick built, but we can't afford to do it.

One of OH's loans finishes in October which will help and I understand a lot of the debt he has is because of his ex-wife and he needed to do what he had to to keep the house and protect himself (she was an awful person and emptied their house while he was at work leaving his stuff in boxes along with the bed and sofa).

Any tips and advice would be great as this is really getting me down and I don't know how to make things better.

Lokolo

http://www.makesenseofcards.com/soacalc.html

You should do this and post it here.

The simple fact is, you're overspending. But the above will help figure out where.

Yorkie1

As well as doing a statement of affairs (post it on the debtfreewannabee board), check that you're not overpaying for your regular contracts - do uswitch (or similar) for energy accounts if you're not in an expensive tie-in period; are you paying too much for broadband / phoneline / actual mobile phone usage; if you pay extra for something like lots of Sky packages, do you really need them all? Do you make and stick to a shopping list at the supermarket, or buy lots of impulse stuff? Try the Sainsburys feed a family of 4 for £50 - if there's only 2 of you, freeze the rest for a future occasion.

I'm not saying this applies to you, but I've often seen people have a sense of disproportion regarding what is a luxury and what is an essential when it comes to prioritising spending.