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superbabe612
Posts: 145 Forumite
Hi everyone,
Background info:
2 adults, 2 kids aged 13 and 16.
I work full time, my partner doesn't work.
Debts:
We have a mortgage of £72k on our home bought 6 months ago for £183k. Mortgage is on a 2 year fixed rate of 3.39% til August 2013.
£950 overdraft (I only use it as a 'cushion' near payday)
£1200 limit on Capital One Visa (I try to use only £400 a month and pay it off in full to avoid the extortionate interest!)
Assets:
£111k equity in house
2 vehicles - Peugeot Partner Van 1998 (not worth much!)
Renault Clio 2003 c. £1000
Here goes:
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,208.35
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 549.68
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) (Just renewed contracts so on cheapest available for the next 2 years). 98.50
TV Licence (Don't have to pay as my father in law gets his licence free since he's over 75). . . . . . . . 0.00
Internet. (included with Sky) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Phone. (included with Sky) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 39.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . (Dual fuel). . . . . . . . . . . . . . . . . . . . . . . . 71.00
Gas .(Dual fuel). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62.28
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. (paid annually) . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 362.15
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . (paid annually) . . . . . . . . . . . . . . . . . . . . . . 89.71
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . (paid annually) . . . . . . . . . . . . . . . . . . . . . . . 7.50
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 300.00
Drinks for Home .(I'm teetotal). .. . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.00
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.92
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
Car Maintenance . (not budgeted anything coz I've only had it 2 months) . . . 0.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . (paid annually) . . . . . . . . . . . . . . . . . . . . . . . 4.27
Debt Repayments
Credit Card Repayments. (spend included in food/petrol) . . . . . . . . . 0.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. (includes line rental & broadband) . . . . . . . . . . 78.75
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.25
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.67
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.33
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Activities .(dancing, drama & singing lessons for my eldest who wants a career in musical theatre) . 82.50
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.59
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,758.03
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,827.75
Thanks in advance for your help!
Background info:
2 adults, 2 kids aged 13 and 16.
I work full time, my partner doesn't work.
Debts:
We have a mortgage of £72k on our home bought 6 months ago for £183k. Mortgage is on a 2 year fixed rate of 3.39% til August 2013.
£950 overdraft (I only use it as a 'cushion' near payday)
£1200 limit on Capital One Visa (I try to use only £400 a month and pay it off in full to avoid the extortionate interest!)
Assets:
£111k equity in house
2 vehicles - Peugeot Partner Van 1998 (not worth much!)
Renault Clio 2003 c. £1000
Here goes:
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,208.35
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 549.68
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) (Just renewed contracts so on cheapest available for the next 2 years). 98.50
TV Licence (Don't have to pay as my father in law gets his licence free since he's over 75). . . . . . . . 0.00
Internet. (included with Sky) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Phone. (included with Sky) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 39.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . (Dual fuel). . . . . . . . . . . . . . . . . . . . . . . . 71.00
Gas .(Dual fuel). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62.28
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. (paid annually) . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 362.15
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . (paid annually) . . . . . . . . . . . . . . . . . . . . . . 89.71
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . (paid annually) . . . . . . . . . . . . . . . . . . . . . . . 7.50
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 300.00
Drinks for Home .(I'm teetotal). .. . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.00
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.92
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
Car Maintenance . (not budgeted anything coz I've only had it 2 months) . . . 0.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . (paid annually) . . . . . . . . . . . . . . . . . . . . . . . 4.27
Debt Repayments
Credit Card Repayments. (spend included in food/petrol) . . . . . . . . . 0.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. (includes line rental & broadband) . . . . . . . . . . 78.75
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.25
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.67
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.33
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Activities .(dancing, drama & singing lessons for my eldest who wants a career in musical theatre) . 82.50
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.59
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,758.03
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,827.75
Thanks in advance for your help!
0
Comments
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superbabe612 wrote: »Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,208.35
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 549.68
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) (Just renewed contracts so on cheapest available for the next 2 years). 98.50 (is this for 4 contracts?!)
TV Licence (Don't have to pay as my father in law gets his licence free since he's over 75). . . . . . . . 0.00
Internet. (included with Sky) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Phone. (included with Sky) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 39.00 this is quite high, could you downgrade?
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . (Dual fuel). . . . . . . . . . . . . . . . . . . . . . . . 71.00
Gas .(Dual fuel). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62.28
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. (paid annually) . . . . . . . . . . . . . . . . . . . . . . . . 15.00 is this the annual cost or the monthly cost?
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 362.15
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . (paid annually) . . . . . . . . . . . . . . . . . . . . . . 89.71 could you get this cheaper elsewhere?
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . (paid annually) . . . . . . . . . . . . . . . . . . . . . . . 7.50
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 300.00
Drinks for Home .(I'm teetotal). .. . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.00
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.92
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
Car Maintenance . (not budgeted anything coz I've only had it 2 months) . . . 0.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . (paid annually) . . . . . . . . . . . . . . . . . . . . . . . 4.27
Debt Repayments
Credit Card Repayments. (spend included in food/petrol) . . . . . . . . . 0.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33 do they have to have school meals? could you make them a packed lunch instead?
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. (includes line rental & broadband) . . . . . . . . . . 78.75 is this really necessary?
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.25
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.67 what's this for?
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.00 could you not DIY?
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.33
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Activities .(dancing, drama & singing lessons for my eldest who wants a career in musical theatre) . 82.50
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.59
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,758.03
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,827.75
Thanks in advance for your help!
Hiya
There's definitely room for some savings here, have a look and let me know what you think. Also, how come your partner doesn't work? Are you getting all the benefits you're entitled to? xxxLife is too short not to love what you do.0 -
Better people than me will offer you fab advice - but my imeadiate thought is that the tv - if satellite - could be reduced. Sky will haggle and reduce costs - if only for 6 months which gives you some breathing space. When you renew your mobile phone contracts why not try giffgaff - keep your handset and pay monthly. Different packages but I pay £10 for 250 minutes call time, unlimited internet use and text messgaes. I never use all my time allowance so it suits me.
Good luck - it will feel great to take control.44 day challenge
1. Pay £650 off overdraft (£ 288/ £650)
2. Lose 12 lbs (4.5/ 12)
3. Use YNAB everyday (6/44)0 -
You gas and electric costs are huge.
Get a water meter.
Drop parts of the Sky package.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
#hi im sure someone will be along in a min to work it all out properly but from what i can tell, you need to stop buying newspaper as you can read them all online for free.
does your father in law live with you as it only says two adults, could your partner get a part time job?
Maybe cut back on school meals and have packed lunches and some of the kids activities, are singing lessons really essential, surely you have talent or you don't.Pay ALL your debt off by Xmas 2023 #59 £7008 Paid £570 Owing £6438 #1 H1 £151, #2 H2 £100, #3 O £200, #4 M £1500, #5 Z £295, #6 C1 £340, #7 L £1084, #8 N £840, #9 C2 £19300 -
Thanks everyone, I knew I'd have some explaining to do!
The mobile phone costs includes 4 contracts, recently renewed after using a comparison site, so I'm stuck with those.
The cleaning costs is for 3 hours of cleaning once a month; I absolutely hate cleaning but I resolved my new home wasn't going to be filthy! My other half was going to do it but isn't well enough.
The home insurance is a monthly cost, this is up for renewal in May so I can shop around. I started with contents insurance then added buildings when we bought the house, so this should be cheaper.
I've just realised I've put the life insurance down twice - the life insurance annual cost is the same as the mortgage life insurance! Either way, it's £89 a year and I did use a comparison site but had trouble finding cover for less than £100k!
My youngest has packed lunches, my eldest has dinner money as she is allowed out of school at lunchtime but she does often take sandwiches if she's staying in school.
Sky is a luxury, I know, but we're contracted to multi-room and HD for another 6 months so I'll definitely try to haggle when the time comes.
The pet costs are for our hamster, had to guess on the costs coz we've only had him 3 months.
The beauty treatment is also a luxury, it's not something I can DIY but it's no longer as important to me so that's probably first for the chop!
The newspapers/magazines is a TV guide for my computer illiterate other half and one for my disabled father in law. He's in a nursing home and relies on a specific TV guide that he can read easily.
My partner's work situation is a long story and probably belongs in another part of the forum! If he would/could get a job, it would be a big help, obviously, but for my part I need to know I'm doing everything I can. We're looking into extra benefits but aren't sure of his eligibility.
I think the water bill needs looking at; because we've only been here 6 months it may not be 100% accurate. We have a 5 bedroom house (an extended semi) and there's 4 of us; I'm reluctant to get a water meter in case it puts our bills even higher!
I've always had huge gas bills, I'm obsessive about turning the heating down and setting the timer but unfortunately my partner feels the cold even though he wears a t-shirt, jumper, and big winter coat indoors!
The singing/dancing/drama lessons aren't essential but important and very useful. I'll put a question mark over that one for now!0 -
I would downsize your home which would free up equity in your home, reduce your mortgage payments as well as gas, water and electric costs.0
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Hi Superbabe .... well done for getting it all down - it's not in the "usual" MSE format so apologies if I miss something & I've also tried to take account of your extra comments but may have missed somethingsuperbabe612 wrote: »Background info:
2 adults, 2 kids aged 13 and 16.
I work full time, my partner doesn't work.
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,208.35
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 549.68 Have you checked you're getting everything you're entitled to?
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) (Just renewed contracts so on cheapest available for the next 2 years). 98.50 I see these have just been renewed but .... £100 / month:eek: - switch to PAYG as soon as you can. If some of these are the kids phones, can they contribute to the cost?
TV Licence (Don't have to pay as my father in law gets his licence free since he's over 75). . . . . . . . 0.00 Does he not have to actually live with you for you to be able to claim the free licence?
Internet. (included with Sky) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Phone. (included with Sky) . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 39.00 Sorry but not an essential & you can't afford this as your books don't balance.
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 You need to put something in here - how are you going to fund any repairs?
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . (Dual fuel). . . . . . . . . . . . . . . . . . . . . . . . 71.00 This is HUGE:eek: Have you checked your bills / readings / consumption / comparison sites?
Gas .(Dual fuel). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85.00 Same as Elec
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62.28 Same as Elec
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. (paid annually) . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 362.15
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . (paid annually) . . . . . . . . . . . . . . . . . . . . . . 89.71
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . (paid annually) . . . . . . . . . . . . . . . . . . . . . . . 7.50
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 300.00 Not too bad but check the Old Style board & the Grocery Challenge - families of 4 manage on £220 / month (incl toiletries, baby stuff) so you should be able to save around £50 here
Drinks for Home .(I'm teetotal). .. . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.00 All essential journeys?
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.92
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00
Car Maintenance . (not budgeted anything coz I've only had it 2 months) . . . 0.00 Need to get something to cover MOT, service, repairs - I allow £35 / month (one vehicle & it's a cheap to run one so you'd need more with 2)
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . (paid annually) . . . . . . . . . . . . . . . . . . . . . . . 4.27
Debt Repayments
Credit Card Repayments. (spend included in food/petrol) . . . . . . . . . 0.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 You really need an emergency fund for things like replacing household appliances when the break down....
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67 All essential journeys?
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. (includes line rental & broadband) . . . . . . . . . . 78.75 :eek: Sorry but .... line rental & broadband are available for under £25 / month so able to save at least £50 here (noted your comments - but still worth ringing Sky and seeing if you can knock anything off now)
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.25
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.67
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67 See below
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.00 For how many people? If 4 not too bad but if one not so good ...
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Need something in here
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.00 See below
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Need something in here
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Need something in here
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.33
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Children's Activities .(dancing, drama & singing lessons for my eldest who wants a career in musical theatre) . 82.50 How often do these happen? Could they reduce? (sorry harsh I know but you have to be able to balance the books or you're going to end up in trouble) - See comments below
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 Reduce to £10
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00 Seriously? £0 - what happens in the school hols? No extra activities???
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67 Reduce to £20
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.59 Sorry not essential - read online
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,758.03
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,827.75
Thanks in advance for your help!
Sorry if this is harsh but meant with the best of intentions ....
You need to prioritise what is essential and what isn't - there are a few things missing from the SOA (noted above eg house repairs, emergency fund etc etc) and you really need to put something aside for these or how are you going to fund them?
Congratulations for being DF - however, if you're having to dip into the OD at month ends as you've run short of funds then I'm afraid you need to take action now to balance the books .... best of luckGrocery Challenge £211/£455 (01/01-31/03)
2016 Sell: £125/£250
£1,000 Emergency Fund Challenge #78 £3.96 / £1,000Vet Fund: £410.93 / £1,000
Debt free & determined to stay that way!0 -
You are making excuses for your lifestyle and asking us for help.
You dont seem to want to actually help yourself, whether you like cleaning or not (hu, who does) and yet you play a cleaner to do it for you, It really is something you can do without. Tell your husband to just spend an hour a day doing it and get the kids doing it too
Beauty treatment, of course you can do it yourself with practise.
If you have to dip into your overdraft, youre living beyond your means.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
How much cleaning do the kids do? - they're more than old enough to be a big help around the house, especially if your OH is unable through illness.
My DS was glad to get to uni to escape his daily cleaning jobs:D0 -
If the £36/month is for contact lenses for one thats way over the top - have a look into daysoft contacts.
Cancel the sky - or if you really cant cancel reduce it to the minimum ... you cant afford it.
Elec/gas/water are too expensive - look at switching and make sure the kids turn off the lights etc.
Mortgage life assurance at £90/month is way over the top.
From your SOA it looks like you can cut a few things and be back in the black every month.0
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