My updated SOA

CLAPTON

i would make the following suggestions


..with a house, car, motorhome you really need an emergency fund of at least 1500 to 2,000 so use your 150 saving to build up the fund.

i would also suggest you keep a very detailed spending diary because there seems to be a big gap between your income and your spending but you still need to use credit cards to pay for tyres etc etc.

..you have nothing down for xmas spending (xmas tree and all the xmas extras, or xmas presents or birthday present...with a family of four plus presumably some parents etc you must surely spend something.


..are the teenagers earning...or do you give them pocket money...do they have any school/college related expenses..field trips or whatever.
do they have any activites costs?
any travel costs ?


you use the motorhome for holidays but what about any additional holiday expenses... any rent..extra meals out/takeways/visits to places

do you ever get the car/motorhome serviced?
do you pay for RAC/AA cover

you have nothing down for socialising, takeaways, eating out, any magazines/newspapers/DVDs/CDs

CLAPTON

and

you have to be 16 to invest in an ISA

StratApproach

yes 16 for an isa.

gilly1964

CLAPTON wrote:

i would make the following suggestions


..with a house, car, motorhome you really need an emergency fund of at least 1500 to 2,000 so use your 150 saving to build up the fund.

i would also suggest you keep a very detailed spending diary because there seems to be a big gap between your income and your spending but you still need to use credit cards to pay for tyres etc etc.Agreed

..you have nothing down for xmas spending (xmas tree and all the xmas extras, or xmas presents or birthday present...with a family of four plus presumably some parents etc you must surely spend something.We are quite a small family but got all the presents through Quidco and by being inventive BOGOFs, special offers, homemade hampers etc, did the lot for about £600 and by spreaing the cost since September.


..are the teenagers earning...or do you give them pocket money...do they have any school/college related expenses..field trips or whatever.
do they have any activites costs? Radio controlled racing for DS and OH
any travel costs ? No


you use the motorhome for holidays but what about any additional holiday expenses... any rent..extra meals out/takeways/visits to places
We pay for most things by Tesco Credit Card and then use the Clubcard Vouchers for things such as Butlins in February, Tussauds Annual Passes, Haven Holiday for touring Vans and so on

do you ever get the car/motorhome serviced? This needs to be included about 700 per year for the two, not including things like tyres etc

do you pay for RAC/AA cover Paid by Tesco Clubcard Vouchers

you have nothing down for socialising, takeaways, eating out, any magazines/newspapers/DVDs/CDs

This is where the spending diary will be worth its weight in gold


Thank you for your comments
Gilly

LookingAhead

With regards to your husband refusing to cook (grrr! ) does this include getting a frozen batch of cooking out of the freezer and heating it up?

Chai_2

Jus thought i'd add that if you took the interest from your ISA then you could pay it to you son and have the bank pay for his car!!
(5% of 3000 = £150)