Home Owner needing help

lazer

Tixy wrote: »

The thing you are most worried about is the missing surplus? I don't think your SoA is too bad apart from this issue (yes there are some areas you could reduce but if you had the surplus you should have then you don't 'need' to cut back anywhere).

Given its only been 2 months I think the problem is just all the bits of one off costs and extras that you've been paying out and that hopefully you'll find you do have that surplus moving forward.

In terms of your stoozed santander card - do you intend to repay in August?

With the other cards - I don't see anything wrong in using cards and paying off in full the following month, in fact if you can make it work its a good idea.
But if you are paying off in full then you have spent a lot (£1338) on the cards last month - does that spend agree to items in your SoA? I guess £200 on groceries and £200 on petrol are the obvious items - what else have you put on your card that either is or isnt on the SoA?

The problem you have this month is you have £1138 to clear and perhaps only £400 to put on the card for paying off next month - so this month you will again not have a surplus - and in fact could have a shortfall.

I would perhaps consider limiting the card use to just petrol and groceries in future, rather than try to stop using it altogether - that way the balance will only ever be around the £400 mark and you'll know you've got it covered from your budget the following month and you still earn a bit of cashback on the cards.

The remainder on the card is the work expenses of £926 which are being re-imbursed this week.

I terms of my stoozing santander card, unless i can find another interest free card with significantly under 3.3% balance transfer fee, i will be paying it off.

The surplus is needed to fund the wedding, so thats why i'm addressing it now, I have a plan which says what i should have saved by October, and its going to be difficult to meet now after the amount of spending in the last few months! But as you say its been one -offs, and prior to this i've never had an issue managing the credit cards!

rising_from_the_ashes

lazer wrote: »

Because I have now got into the cycle where i pay off the credit cards on pay day, it is difficult to get of this cycle, which is what i want to do as I hate being a month in arrears all the time.

This is me!

I've finally cleared the debts but do put everything on the cc (& clear in full each month) but I'd love to be able to use the salary I'm going to receive at the end of this week to fund April's spending, rather than having to stick it all on the card and use April's salary to pay it.

I've now set up several budgeting puts and put away a set amount each month to them - I've managed to "get ahead" with a couple (car, pets, house insurance) but am still working on the car insurance, groceries & fuel. It's slow progress as, like you, I can't afford to clear last month & pay for this month in one go, so it's a case of sticking away £25 each month to the next "pot" I'm working on..... worth it in the long run hopefully!

lazer wrote: »

I have now sent up a spending diary in excel and gone back over old statements, and it does seem as if most of the overspend has been in relation to the house. Its easy to forget the £10 spent buying mops & brushes in £strecther, the £20 on lampshades etc, but they all mount up. So hopefully it can all be back on track from this month - no furniture or home stuff to be bought this month! I must try and restrain the urge to sort the garden out - or else decide to spend £30 on the garden and not go out at the weekend - I can't have it all, and the wedding I want too!

Spending diaries are fantastic - as you say, the odd £10 here & there really mounts up a lot!

Your SOA looks good - agree with the comments of others & the groceries could certainly come down a bit ..... Best of luck!:D