How much do you earn/spend/save/repay debt?

JAMIEDODGER

hi all:)

i posted this question early last year, and i found it really helpful to analyze where my money goes and where i would like to see more balance.....


currently my income is roughly £2300 per month

Housekeeping = 800 per month
General Bills = 600 per month
Saving For Annual Bills = 400 per month
Debt Repayment = 500 per month


from this i can see that once i have paid back the debt (by jul 07) i will be able to save that money which will mean an annual saving of £6000:T

once you reach that position it is easier to drop the other amounts too, for example:

i usually pay car insurance dd monthly. when its time to renew, i pay it in full out of my savings, therefore saving on the horrendous apr they charge for the priviliage for paying monthly, from then on i "save" the eqivillent of a years insurance monthly myself therefore earning interest on the money in my account:) and the monthly amount set to come out of "bills" transfers to "annual bill savings" and will drop anyway because of evading the apr charge:D

sorry if im sounding complicated:D

this theory can be applied to many bills ie, car tax, tv licence, any utilities, even council tax. some times it is worth paying dd for the little bonus they give you, and sometimes its not.

my housekeeping is quite low, i pay rent and nursery fees out of this as well as food, petrol and anything else needed.

i save monthly for school uniform/cartax/bdays/xmas/clothing/ and various other things.

anyway, this is just the way i do things, everyone is different:)

so................how much to you earn/save/spend/repaydebt????

postingalwaysposting

how much to you earn/save/spend/repaydebt

morning jamie... my situation is slightly different to all you on here but here is mine...

earn ~ £736.96 ~ after tax, ni, penson and union
save ~ £445.48 (£18.00 xmas fund ~ remainder my saving target)
spend (personal) ~ £60.00 (want to cut this down)
spend (bills) ~ £231.48
repaydebt ~ £0.00

this however changes due to overtime/and stuff i need to buy but if anything more goes into my savings than stated above

immoral_angeluk

earn - £1300 min (with no overtime or bonuses)
Bills (inc min debt repayments, food, petrol and driving lessons) - £1160
Spare for misc spending (work meals etc) - £140
Debt savings- All of our tax credits (currently £35.44 pw/£177.20 month) and all of our child benefit (currently £69.80) so around £247 a month goes on debt. But these will both soon be going up when our 2nd baby is born.

emmarbos

£940.27 Wages
£171.88 Into an ocupational pension (non contributory)

Each march i also get a 10% profit share of my wages, which will be £1,375 this year, and in April I get a pay rise depending on my performance. And a maximum of £3,000 bonus per quarter at work, which this year i would like to achieve as much as i can.


£100.00 Housekeeping
£50.00 Car Insurance
£60.00 Car Loan
£30.00 Mobile Phone Insurance
£90.00 Petrol
£10.99 Cineworld Pass
£2.00 Charity (mufty day at work every friday)
£250.00 ISA - for house deposit.
£150.00 First Reserve for Shopping trips and holidays.

£742.99 TOTAL OUTGOINGS

£197.28 To Spend on Myself per month on general crap like a drink at the pub or a night out.

I generally dont have any debts, but I am saving up for a house deposit, of £25k. I currently have a grand, long way to go but im trying.