Will this work ?

mrsjonesjuly2010

Right after having finally realising we are getting in to much debt.. I have opened a joint account for me & hubby which all our bills an cred card debts will come out of each month ..

Total amount of bills an debts come to £2446.. This is including all bills, shopping and debt payments ..

This will leave us 86 a week for petrol & entertainment etc.. Does this sound ok?

The idea with the joint account is to have wages paid into personal accounts then a set amount transferred to joint account monthly for me weekly for hubby as he's paid weekly..

Thanks for reading ...

sistafromanothermista

I guess that depends how many miles you do That would be fine for me and hubby but may not be enough for others.

You're doing what we do, i get paid monthly OH gets paid weekly so i pay most bills and his wage pays shopping and petrol.

Good luck. The best tip i have found is to always check your bank balance every day!!!!!

mrsjonesjuly2010

Thanks for your reply sisterfromanothermista..
I recon petrol will be £10 a week so effectively leaving us with 60 for anything else a week..

sistafromanothermista

mrsjonesjuly2010 wrote: »

Thanks for your reply sisterfromanothermista..
I recon petrol will be £10 a week so effectively leaving us with 60 for anything else a week..

For this amount per week do you really need a car?

£60 for leisure is more than enough :eek: :eek:i spend £5 :rotfl:

Growurown

mrsjonesjuly2010 wrote: »

Thanks for your reply sisterfromanothermista..
I recon petrol will be £10 a week so effectively leaving us with 60 for anything else a week..

I could manage on this but are you saving anything in a rainy day fund? There will always be something unexpected cropping up such as car repairs or a new washing machine, you need something for emergencies.

mrsjonesjuly2010

Thanks for replies,sistafromanothermista yes we do need car really as hubby has to get his children an it's 3 buses to where I work..
£5 on entertainment.. ?

No we aren't saving anything for emergencies.. Perhaps we shud save something each week.. ?

Growurown

mrsjonesjuly2010 wrote: »

Thanks for replies,sistafromanothermista yes we do need car really as hubby has to get his children an it's 3 buses to where I work..
£5 on entertainment.. ?

No we aren't saving anything for emergencies.. Perhaps we shud save something each week.. ?

Yes you absolutely should:)

You run a car - it will need an MOT at some point and what do you do if the garage tells you it needs hundreds of pounds worth of repairs? What happens if an essential household item stops working? Could you cope without a washing machine or your cooker? A terrible thought here - what if the iron broke? No more ironing:eek:

£5 on entertainment - well it will buy you a couple of drinks, just about:rotfl: