Just knocked £800 quid off my debt!!

Dithering_Dad

sured wrote:

no expert, but,

wife housekeeping 1200

phew how much!

I used to give her 1000, but she said she was struggling. she pays for food, petrol, kids clothes, etc, etc. Basically everything else not covered by our direct debits.

Must admit, it is a bit of an unknown area for me.

sured

could you ask what it all goes on,
maybe she could cut back,
shop cheaper,
keep a spending diary, so you could find out,
check out the o/s board for tips

Kandyfloss_2

I'm a single mum with 4 Children 17,14, 2 & 8months, and I spend nowhere near 1200, I run a car, buy all my kids clothes, food etc. £600 is more my housekeeping limit.
And just incase you're wondering I'm not a stay at home mum, living off benefits. I'd go mad if I didn't work, so always have.

Spendi

£1200 a month is more than i earn !
I have to pay all my DD and rent etc out of that as well

Sorry, i know you can *afford* it looking at your SOA but i too would want to know where it all goes !

Penny2myName

Kandyfloss wrote: »

And just incase you're wondering I'm not a stay at home mum, living off benefits. I'd go mad if I didn't work, so always have.

Unlike Kandyfloss, I am now a stay at home single mum on benefits with two children, I may not be able to afford the most entertaining of lifestyles, but I am able to cover all my personal outgoings which include two finacial contracts with DFS (one sofa one dining room) I bough this items whilst still in work not knowing I was going to end up having to give work up 2 months later. Unfortunatly for me there was also 3 holidays arranged before i finished work, which made april very tight, will also make august tight and I am after trying to make octobers not as tight.

Tashja

Hi DD

You are doing really well. Great you knocked £800 off just like that

I am also thinking £1200 is a lot for housekeeping - especially as in your SOA you are paying for your DW's mobile phone, kiddies comic, DW's Life Insurance, etc.

Also I notice you have life insurance (joint) and wifes life insurance separate - is there a reason for this or could you do away with her individual policy if she is on the joint one ???

Also have you checked for the best pet insurance deal - I don't know what pets you have but it was only £11.00 for us to insure our dog.

Keep up the great work !!

T xx

immoral_angeluk

Nice one DD!

But £1200 for housekeeping??? We run a house, pay the bills, buy food + petrol, have 2 kids (2 and 3 months) a car and everything for about that much! You need to find out what all that money is going on!!!!

immoral_angeluk

Wife Mobile Phone £28.58
Endowment £66.12
Mortgage £1,035.33
Water rates £25.98
Wife Stakeholder £15.60
Pet Insurance £20.39
House & Contents Ins £17.96
Savings £100.00
TV License £11.37
Home Phone £40.70
Life Insurance (joint) £34.43
Gas £49.00
Electricity £15.00
Council Tax £155.00
Daughter Comic £2.99
Wife Life insurance £12.37
Total £1630.82

Wife Housekeeping £1200.00
Total Outgoings £2830.82

Income Me £2152.38
Income Wife £384.36
Daughter Care £249.00
Child Benefit £116.60
Total Income £2902.34



All the things in bold should be paid by your wife's housekeeping with plenty to spare!!

Dithering_Dad

Bloody Hell, where was this dredged up from??

I think this was one of my first posts, before or just as, I started my new business back in Feb. To answer a few questions though...

One of the first MSE things I did was to cash in my endowment, pay it onto the mortgage and then arrange mortgage proection insurance at a much cheaper rate for the pair of us (the reason we had separate insurance was because I had my endowment when I was a single guy and so couldn't add my missus onto it for insurance).

As far as the housekeeping money, my wife gets all the petrol, kids clothes, xmas and birthday prezzies (and other kids birthday prezzies if ours are invited), pays for all our nights out and all the housekeeping. Well everything really apart from the bills and mortgage, which are taken care of elsewhere.

As I said at the start of this post, this thread was created (god, it feels like a lifetime ago!) before I started my new company, so the income figures are now off the chart - though I'm not always going to be employed, so the income will be a bit sporadic.

Last month for example, we had (after Vat and Tax) £11,900 to spend. We're sticking to the usual budget, so £1200 went to my missus, £1700 for the bills and mortgage and £2000 went to pay company expenses. The remaining £7000 went straight onto the mortgage offset for when we're not doing so good.

It's amazing when I think of how different my life is now than when I first joined MSE. We had an OK income, a few debts (about 13k I think) and were muddling along. Since starting the company, our debts have gone and our bank accounts have never been so healthy (our bank manager is probably thinking I'm a drug dealer or something).

Dithering_Dad

Kandyfloss wrote: »

I'm a single mum with 4 Children 17,14, 2 & 8months, and I spend nowhere near 1200, I run a car, buy all my kids clothes, food etc. £600 is more my housekeeping limit.
And just incase you're wondering I'm not a stay at home mum, living off benefits. I'd go mad if I didn't work, so always have.

Ah!! So it was Kandyfloss who found my old post. You must have been rooting around in the DFW cellar to find this thread. Was it all cobwebby and covered in dust??

:rotfl: