Is anyone starting from scratch???

Brokeattheminute

£100 put into credit union this morning,might find it tough going the next few wks as my d/s B'day 0n 14 Nov and my car ins is up on 17 Nov.So quite a lot of money to pay out in the space of a wk.Hope everyone else is doing fine!Total now 3600/6000.

davenport151

Well I know where the 'extras' went this month. The cooker died back in August. Luckily with it being a double oven we still had the use of the conventional top one. As well as it being summer I was not in too much of a hurry to shell out for a new one. A busy september and early october finished with it was time to source a new one. I would not relish the build up to xmas with limited oven capacity.
Typically that was a good amount of extra this month too!

I have re done my budget to allow for car insurance being paid for the year and tweaked a few things that can be paid from essentials money. This is the set amount of things each month that need to be paid or accounted for eg; petrol, dinner money, contribution to bills etc. As opposed to 'free' spend money.

I was also lucky enough to get a small pay raise. This I am choosing to ignore this year. So whats left at the end of the month is swept over to the savings.

Brokeattheminute

I know what its like Davenport with Christmas coming soon,Our t.v went last month but we wouldve had it 9yrs at Christmas.Weve been given an old t.v by o/hs parents till we get 1 after christmas in the sales.We were lucky as we had the money saved between us for 1.

davenport151

Another month,another payday.

Stats stay the same. However I intend to be a clever shopper this xmas and spend less at the same time. Feeling quietly confident. Also cutting down on spend amount -seeif I can get by with £40/50 less so this can then be saved.

We did just have a pizza tonight though but that was 2/3 paid for by OH. A treat for managing with an adequate oven for the past few months! New one arrives Monday!

NatalieB23

Hi all,

I'm a newbie & would love to give this a shot.

I'm 24 & have a little boy. I have my own home which I rent privately & I also work part time. I have quite a tight budget which means there is little left for saving but I can see through these posts that a lot of you manage to make some great savings.

Any tips or advice on the best way to get started?

I have a couple of loans which will be paid off within a couple of years but would love to be able to pay them off early should this work out

Many thanks!!

davenport151

Hi NatalieB23 :wave:and welcome. Always room for one more!

I always recommend the budget planner as a way of getting started. It also helps you to see your outgoings and see if there is any way you can cut back. Be honest with the spending figures though!

Great to have you along for the ride - good luck!

NatalieB23

Hiya! Thanks!

Where can I find the budget planner you mention?

I spent last night thinking about where I am going wrong so have a few ideas. Its going to be tough with having Christmas so close and a little one to buy for but I am determined to change my current situation!!

I've worked out whats left of my wages from last month before payday again so that's going to be transferred into a new acct so I shall be making a proper start this week.

davenport151

Go to the income/family tab at the top of the page then its under household savings.

ShootForTheMoon

Hi Natalie, and welcome!! :wave: Great to have you along for the ride!!

I'd definitely recommend a look at the DFW boards - they are amazing and people give great advice without being judgemental.
A good way to start, along with the budget planner Davenport mentioned is a Statement of Affairs (or SOA) which gives a more detailed breakdown of what goes where. It can take a couple of hours to get all the information accurately recorded, but I've found it invaluable on cutting down bills, groceries, etc and finding more money for savings / debt repayment. You'll find examples of these on the DFW boards.

I'd definitely try to pay off the debt before you start saving (unless the interest rate is very low)
Even small overpayments soon start to mount up, and seeing month's fall off your loan is such a great feeling!!

Good luck with it and keep us up to date with your progress!! Getting into the saving mindset is half the battle I found!!

Shoot x

ShootForTheMoon

And time for a quick update from me...

We have just returned from an amazing holiday with the extended family in Egypt - was absolutely fantastic!!

AND... we stuck to our spending money budget of £200 - which included our diving for the week - brilliant!!

I'm also chuffed that I've managed to make another £300 payment into my regular saver, keeping it at the maximum allowed level. I am determined to max it out over the year and earn the most in interest I possibly can!!
OH has also opened an account with FD and received £125 for doing so as a reward. She's started a regular saver too - so between us, we're hoping this will boost our savings nicely!!

Today, I invested another £200 into Premium Bonds, which was holiday "emergency money" - now not needed - straight into savings!!

So, all in all, things are ticking along nicely... Car has it's MOT this week though - everything crossed it passes!!!! :think:

Lots of MSE love...

Shoot x