Single mums budget

MrsTinks

My child minder used to take my daughter to musikids once a week and I think it was £2 a week - what kind of activities were they doing?? she's now 2 1/2 and they go some things during the week but the childminder pays where there is a cost as it's her choice to use the ones that charge and not mine - don't get me wrong I do from time to time "donate" arts and crafts stuff and especially baking things because I know my daughter is particularly fond of those things

And make sure you don't accidently ebay one of the kids! Porbably best to stick with ebaying all the things that DON'T move

mazzymoo3

dont laugh but she takes him swimmin ( I think I am a bit obsessed with swimming). promise not to sell kiddies.
been looking for table top sales to sell baby clothes as P & P has to be paid on ebay, cheesed off I made £2.00 then spent £1.08 on p & p before i realised i could include it on the sell (doh).Think tabl top sale might be cheaper.
first job is to tackle my loan as this will be looked at when I take ex off the mortgage.
wish me luck

tallyhoh

You really should be asking hubby for proper money to support his children. £8.33 per week per child (now & again) is laughable.

I know you say you dont like to ask but its his responsibility, doesnt even keep them in socks!

downsizer3

Totally understand about not wanting to ask ex for money. I'm totally strapped for cash but ex pays nothing. Never could face the agro of asking.
He has mega debt and until about 6 months ago - no job. I do know he pays maintenance towards his son (another mum) though. Hoped he'd offer - more fool me!!
Good luck!!

glasgowsaver2011

thrifty-gal26 wrote: »

It would be cheaper to take out life insurance rather than saving an amount every month. Plus you would get a better return of the worst should happen. We pay £37 a month for 3 policies which gives us £700K cover ( 300k each if the one dies and 100k to DSS if OH dies ) We cold never save that amount!

but they give such high amounts because they dont expect people of your age to die.

you could pay for 20 years and not get a penny back

MrsTinks

mazzymoo3 wrote: »

dont laugh but she takes him swimmin ( I think I am a bit obsessed with swimming). promise not to sell kiddies.
been looking for table top sales to sell baby clothes as P & P has to be paid on ebay, cheesed off I made £2.00 then spent £1.08 on p & p before i realised i could include it on the sell (doh).Think tabl top sale might be cheaper.
first job is to tackle my loan as this will be looked at when I take ex off the mortgage.
wish me luck

Swimming is great but a luxury
My little'un goes swimming once in a while with her dad (I have a thing about public pools... I can't stand them! *shudder*) but it's definitely not weekly

Try gumtree too for selling stuff local and free! Must get round to listing stuff! Also try the mumsnet etc websites - if it has a market section it's usually free

lika_86

glasgowsaver2011 wrote: »

but they give such high amounts because they dont expect people of your age to die.

you could pay for 20 years and not get a penny back

You could pay for 20 years and not get a penny back, but if you have a family, I think (from personal experience) that it's money well spent.

mazzymoo3

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 2000
Partners monthly income after tax....... 0
Benefits................................ 668
Other income............................ 0
Total monthly income.................... 2668
Monthly Expense Details
Mortgage................................ 670
Secured/HP loan repayments.............. 236
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 126
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 28.4
Telephone (land line)................... 15
Mobile phone............................ 35
TV Licence.............................. 12.12
Satellite/Cable TV...................... 21
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 20
Petrol/diesel........................... 80
Road tax................................ 18
Car Insurance........................... 41
Car maintenance (including MOT)......... 34
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 307
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 56
Contents insurance...................... 0
Life assurance ......................... 20
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 0
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2109.52

Assets
Cash.................................... 0
House value (Gross)..................... 165000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 165800

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 124000...(670)......4.79
Secured Debt.................. 12000....(211)......7.9
Hire Purchase (HP) debt ...... 2000.....(25).......0
Total secured & HP debts...... 138000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
virgin credit card.............2400......35........0
hsbc overdraft.................500.......12........19.9
hsbc overdraft.................600.......0.........0
Total unsecured debts..........3500......47........-

Monthly Budget Summary
Total monthly income.................... 2,668
Expenses (including HP & secured debts). 2,109.52
Available for debt repayments........... 558.48
Monthly UNsecured debt repayments....... 47
Amount left after debt repayments....... 511.48!!!!
Personal Balance Sheet Summary
Total assets (things you own)........... 165,800
Total HP & Secured debt................. -138,000
Total Unsecured debt.................... -3,500
Net Assets.............................. 24,300
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

mazzymoo3

hello all,

since i last posted things have changed some things for the better others for the worse.

Good things are;
stopped company social club, health club, lottery so more money coming in (yay)

called HMRC and have been given more tax credits even though my income is good, apparently i get a bit more as i am a lone parent ( there is a positive to being a single parent)

I have stopped the savings account for the kids now:( but will restatrt this as soon as i have got rid of loan, as someone pointed out no point strugglin now like this, and interest rates are rubbish anyway.
childcare finally sorted but vouchers have not got to childminder but this is the figure i have been quoted.

Bad things;
gas and electric gone up
council tax gone up
had to spend almost £15 on nit cream as eldest has got headlice so we all had to be treated, even baby he was not happy poor chap.

Cant believe i am going through £500 a month, so purchased a notebook to write down my spending, will start on payday, as i am already overdrawn in both accounts, but have spent no money today.

Will start some of the challenges tomo, first thing is to try and lower food bill and overpay on the loan.

cant wait to see where my money goes, really furious with myself that I am spending like this without me even knowing:mad:

debtfreewannabe321

hi mazzy, good luck with sorting out the finances I would ask ex to pay for the swimming every 3 months, that's the least he could do, and surely if he knows where the money is going he wouldn't resent handing it over....i'd certainly give it a try, perhaps not for this next bill if it might be a struggle for him to get it all but i'd pre-warn and tell him he can sort the april (or whenever it's due) one out

dfw