Working to a ten year plan

caeler

Here's the link to the SOA program: http://www.makesenseofcards.com/soacalchelp.html

Ninno820

caeler wrote: »

Hiya - well done!

I'd never seen an annual SOA but it really got me thinking and I'm doing to redo mine annually too! :-)

A few things I notice - Your paying for Sky TV £600, then £264 for internet then £240 for your telephone, however £92 per month is pretty steep even for all the top TV channels. Maybe do some research on the forum as to what others pay for similar services and see if it is worth a call to enquire. I pay BT £24.50 for Landline, evening and weekend call package and unlimited internet. I couldn't imagine paying nearly £70 extra just for TV!

Your home insurance seems high too, but then you may have lots of valauables etc. I recently renewed my Home and Contents for £134 (with £50 cash back after 60 days) this includes legal with 500K rebuild costs, 40K contents with £150 excess but no other frills.

You might find putting it into a monthly format easier for people to comment on, also adding in your internet rates to your debts would be wise too to allow other users to comment.

Thanks for the initial observations and I will sort out a monthly SOA. I had already started to think about reducing Sky and amalgamting the phone and broadband - had heard one or two negative things about bt internet - how have you found it? My current broadband provider has been excellent and I don't want to be without it:eek:

I hadnt thought about the house insurance - I guess that you just carry on. I dont have anything valuable in the house so I will investigate that one - the term runs out at the beginning of August so I have some time for the research.

caeler

Ninno820 wrote: »

Thanks for the initial observations and I will sort out a monthly SOA. I had already started to think about reducing Sky and amalgamting the phone and broadband - had heard one or two negative things about bt internet - how have you found it? My current broadband provider has been excellent and I don't want to be without it:eek:

I hadnt thought about the house insurance - I guess that you just carry on. I dont have anything valuable in the house so I will investigate that one - the term runs out at the beginning of August so I have some time for the research.

Hiya - I've been okay with BT, when I joined them I needed a line installed and they had the best deal at the time (ie. free!) plus it was a transfer of services because my internet was still in contract. I think with any provider there are bad stories but your current provided might do a deal with you. Try moneysupermarket for home and contents, if gives you a breakdown of what you look for in a property, it didn't take very long and they list the results.

Ninno820

Thanks for the advice - will do. Progress may be slow right now but I am feeling much more in control of things. This month's groceries, for example, started before christmas and I have set a budget of £100 to cover all food etc. Since the christmas period involved some coffees out etc, the amount left for groceries is pitifully low - and my month ends on the 23rd! However I am really enjoying the challenge of just buying fresh fruit and veg whilst using some of the overstocked fridge. (In the past it was nothing to spend over £100 in a week and then have to throw items out because of sell by dates!) Thanks for all the support.

caeler

Me again.....! My budget for food is similar to yours, I try to average £30 a week and like you this week I'm eating from the freezer so not having to buy much! :-)

HappyNow

Hello, I was drawn to your diary because I'm also looking towards clearing my debts over the next ten years or so, with a view to a comfortable retirement. I'm not sure whether my debts are higher than yours or lower (depends if you've included your mortgage in your total), but either way we both have a challenging yet do-able project ahead. I will follow your diary with interest!

Ninno820

Well - one week down and thought that I would pop in to report the progress so far:-

1. I have joined the January Grocery Challenge and am proud of my progress. My month runs from 23rd Dec to 2nd January and christmas time involved a number of coffees out. Consequently I started this week with around £16 of my budget left - and still have just over £14 left:j I have fresh fruit and veg and two freezers stacked full so I wont starve!

2. Thanks to your advice I am currently researching alterantive phone / tv / internet packages. I am tempted by the BT packages but just need to make sure that the coverage is strong enough in my area - I live in a small village and my current provider is very reliable.

3. I have compiled some items to list on ebay this weekend so will hope to generate some more income. The sooner I pay off a card, the more cash I will relase to start paying another one off.

I can't report the financial progress until the end of the month but feel as if I am off and running.:T

Ninno820

Phew - just to update my efforts - I have listed 12 items on ebay this weekend - its free listing this weekend and I have the time to list them. If they dont sell then I can relist them without the time committment.

I realise that they won't all sell but if they did then it would be a minimum of £60 which would be a huge help!

caeler

What a great start! I went shopping today and spent £35 for the week! A little higher than I wanted (I indulged in a reduced christmas biscuit tin!!) I have a ton of veg and have started my batch cooking with Butternut squash soup. Tomorrow is a curry for the freezer and a stew for dinner tomorrow although I forgot the dumplings! doh!

Ninno820

Well done - I love butternut squash - it makes a great risotto as well!