scrutiny and help please

likabu_2

I need help please - not sure Im on the right board as I haven't got debt anymore (discharged br as of Jan 2012).

I need to get some money saved up, I have a car thats on its last legs, would like a nice holiday with the children next year - hopefully abroad.

My soa is below however the surplus showing goes every month on not very much but I started a spending diary on the 23rd April so I can work out the rubbish I spend my leftovers on and stop spending.

From this month I want at least the surplus in a pot to one side - the amount for holiday is the minimum I want to save as I want money for next year but we have a trip to Scotland planned for August and a weekend in Blackpool planned for this year.

We still want to live in the meantime - the amount for entertainment is for the pictures/bowling/swimming etc.

Scrutiny would be appreciated, ideas on where I can save whilst still living - thanks -

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1150
Partners monthly income after tax....... 0
Benefits................................ 719
Other income............................ 180
Total monthly income.................... 2049

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 510
Management charge (leasehold property).. 0
Council tax............................. 70
Electricity............................. 35
Gas..................................... 40
Oil..................................... 0
Water rates............................. 35.35
Telephone (land line)................... 0
Mobile phone............................ 44
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 260
Clothing................................ 80
Petrol/diesel........................... 120
Road tax................................ 20
Car Insurance........................... 37
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 300
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 8
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 60
Haircuts................................ 10
Entertainment........................... 100
Holiday................................. 100
Emergency fund.......................... 20
unison.................................. 9.9
Total monthly expenses.................. 1941.37


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 350
Other assets............................ 0
Total Assets............................ 350

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,049
Expenses (including HP & secured debts). 1,941.37
Available for debt repayments........... 107.63
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 107.63

Personal Balance Sheet Summary
Total assets (things you own)........... 350
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 350

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

Googlewhacker

likabu wrote: »

I need help please - not sure Im on the right board as I haven't got debt anymore (discharged br as of Jan 2012).

I need to get some money saved up, I have a car thats on its last legs, would like a nice holiday with the children next year - hopefully abroad.

My soa is below however the surplus showing goes every month on not very much but I started a spending diary on the 23rd April so I can work out the rubbish I spend my leftovers on and stop spending.

From this month I want at least the surplus in a pot to one side - the amount for holiday is the minimum I want to save as I want money for next year but we have a trip to Scotland planned for August and a weekend in Blackpool planned for this year.

We still want to live in the meantime - the amount for entertainment is for the pictures/bowling/swimming etc.

Scrutiny would be appreciated, ideas on where I can save whilst still living - thanks -

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1150
Partners monthly income after tax....... 0
Benefits................................ 719
Other income............................ 180
Total monthly income.................... 2049

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 510
Management charge (leasehold property).. 0
Council tax............................. 70
Electricity............................. 35
Gas..................................... 40
Oil..................................... 0
Water rates............................. 35.35
Telephone (land line)................... 0
Mobile phone............................ 44
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 260
Clothing................................ 80Make what you have last longer?
Petrol/diesel........................... 120
Road tax................................ 20
Car Insurance........................... 37
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 300
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 8
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 60
Haircuts................................ 10
Entertainment........................... 100
Holiday................................. 100
Emergency fund.......................... 20
unison.................................. 9.9
Total monthly expenses.................. 1941.37


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 350
Other assets............................ 0
Total Assets............................ 350

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,049
Expenses (including HP & secured debts). 1,941.37
Available for debt repayments........... 107.63
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 107.63

Personal Balance Sheet Summary
Total assets (things you own)........... 350
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 350

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

You have no debts so you are acutally doing well...you need to really budget for breakdowns etc, what if you need a new washing machine etc?

Personally I think your holiday to Scotland and the weekend away sounds awesome. Maybe split the holiday pot half and half so you have something for when things break and take this wonder holiday in 2 years time?

camuk81

Any chance of shopping around on the mobile phone as it looks a touch steep, can you trim the groceries a little.

How often are you getting prescriptions is it better to get a prepaid certificate?

The fuel also seems a touch high are all the trips necessary?

likabu_2

Googlewhacker wrote: »

You have no debts so you are acutally doing well...you need to really budget for breakdowns etc, what if you need a new washing machine etc?

Personally I think your holiday to Scotland and the weekend away sounds awesome. Maybe split the holiday pot half and half so you have something for when things break and take this wonder holiday in 2 years time?

Exactly right - if my washer/fridge go kaput then Im stuck, this is why I want some money behind me.

Scotland is staying with family, so money needed is petrol, groceries would be what I would spend if at home anyway. The weekend away is a daily mail break already paid for so spends only needed. Thats a great idea about splitting the pot - thank you.

Quite right about the 'big' holiday, we don't need to go next year, I would like to but not at the expense of everyday things and quality of life at home.

Lisa

likabu_2

camuk81 wrote: »

Any chance of shopping around on the mobile phone as it looks a touch steep, can you trim the groceries a little.

How often are you getting prescriptions is it better to get a prepaid certificate?

The fuel also seems a touch high are all the trips necessary?

The mobile phone is highish - Im in contract until April 2013 but we dont have a house phone and the line rental etc that goes with it. I did think I was doing ok on that, I think the actual contract is for 37 a month, will look at my bills to see why they have been a bit higher recently.

Im in Wales so don't pay for prescriptions, a recent dentist trip for a filling made me think it would be a good idea to put money to one side for this just incase?

Can definitely cut down on groceries, mindless shopping and not preplanning meals pushes the amount I spend up.

Re fuel - I have no idea how I spend so much - I do a 5 miles a day mon-fri to work. Maybe once or twice a month do 24 miles to visit family. An extra 14 to 20 miles a week for the boys football and rugby. My cars a big fat 2l guzzler though :mad:

Lisa

likabu_2

Googlewhacker - re making clothes last longer. I dont regularly buy for myself. Boys are 7 and 10, Ive just this weekend had to buy them new school shoes which were 12 pound a pair each as their other pairs had holes in. They had also outgrown their trainers for everyday and sports use, they were 22 pound each a pair.

Granted with the trainers we could have opted for cheaper ones but Im looking for a balance.

I know I wont be buying them footwear every month, a lot of the clothes in my youngests wardrobes were his brothers but hard playing as they are growing up means the amount of clothes passing hands is decreasing lol.

Appreciate the help and ideas - thank you.

Lisa

Googlewhacker

likabu wrote: »

Googlewhacker - re making clothes last longer. I dont regularly buy for myself. Boys are 7 and 10, Ive just this weekend had to buy them new school shoes which were 12 pound a pair each as their other pairs had holes in. They had also outgrown their trainers for everyday and sports use, they were 22 pound each a pair.

Granted with the trainers we could have opted for cheaper ones but Im looking for a balance.

I know I wont be buying them footwear every month, a lot of the clothes in my youngests wardrobes were his brothers but hard playing as they are growing up means the amount of clothes passing hands is decreasing lol.

Appreciate the help and ideas - thank you.

Lisa

Still a lot though £960 a year...could be worked on though but I understand

Also, remember, cheaper doesn't always mean more economical