Debt is the bane of my life, but need OH and DS to get on board

gilly1964

Hi All

I am currently off work sick, on full pay fortunately so decided to complete an SOA so that we can review our spending.

My LBM has already happened but OH and DS need educating, particularly in relation to their sporting events:eek: and eating habits hence the high grocery bill :eek:

I have listed two cars in the household, but one of these is a motorhome which gets used for all our holidays and trips to sports tournaments.

All comments gratefull received.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 2207.29
Partners monthly income after tax....... 2306.38
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 4513.67
Monthly Expense Details
Mortgage................................ 750
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 131
Electricity............................. 104
Gas..................................... 0
Oil..................................... 0
Water rates............................. 54.92
Telephone (land line)................... 0
Mobile phone............................ 50
TV Licence.............................. 12.12
Satellite/Cable TV...................... 65
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 30
Petrol/diesel........................... 300
Road tax................................ 40
Car Insurance........................... 65
Car maintenance (including MOT)......... 75
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10.4
Pet insurance/vet bills................. 0
Buildings insurance..................... 41.5
Contents insurance...................... 0
Life assurance ......................... 109
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 350
Holiday................................. 100
Emergency fund.......................... 25
Pension................................. 107.67
Wedding Savings......................... 300
University ............................. 250
Total monthly expenses.................. 3440.61

Assets
Cash.................................... 0
House value (Gross)..................... 195000
Shares and bonds........................ 0
Car(s).................................. 30000
Other assets............................ 5500
Total Assets............................ 230500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 114000...(750)......4
Total secured & HP debts...... 114000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
CC1............................5925.76...330.......6.9
CC2............................2283.65...165.......0
LOan...........................7500......268.6.....5.8
Total unsecured debts..........15709.41..763.6.....-

Monthly Budget Summary
Total monthly income.................... 4,513.67
Expenses (including HP & secured debts). 3,440.61
Available for debt repayments........... 1,073.06
Monthly UNsecured debt repayments....... 763.6
Amount left after debt repayments....... 309.46
Personal Balance Sheet Summary
Total assets (things you own)........... 230,500
Total HP & Secured debt................. -114,000
Total Unsecured debt.................... -15,709.41
Net Assets.............................. 100,790.59
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

gilly1964

As with everyone there is never money left over, but just a quick review of the spending diary shows

Groceries are more often nearer £650 which is ridiculous for three adults and one dog, so will definitely need to look at this.

Overspending on eating out and takeaways

Leisure, particularly badminton and golf is costing us a fortune.

Nargleblast

Hello gilly, I also have an OH and a DS who make my efforts to save money challenging to say the least!

Food-wise, I do an online grocery shop (Mr S or Mr T)for delivery the day I get paid, then use a wholesale butchers for meat and a local greengrocer for all the fruit and veg. Any topping up during the month is usually done at the German supermarkets Mr Al or Mr Lid. Home Bargains are quite good for some odds and sods as well.

To make things work out, meal planning is your best bet. You can start off just planning a week's meals to begin with, then do a fortnight at a time and then eventually do a month at a time. It helps focus your attention on shopping wisely. A meal plan does not have to be set in stone, there will be the odd day when you don't stick to it, but it really does help.

Tixy

Hi

Who does the grocery shopping in the family? is it that they eat a lot - or they only like the top brand goods?

Is DS a student living at home?

Are sports built in to the entertainment section? is this them participating in sports - or spectating at matches/tournaments etc? I guess there is a petrol cost element as well within the petrol line?

Obviousy at the moment you seem to be able to put aside savings and pay quite a chunk extra off your debts (is the £300 surplus going towards debts?), but as you know some of those costs do look high.

Are you likely to remain on full pay (if you are likely to be off sick long term).

Sounds like they need reality checks with the food cost.

Could you try setting them challenges perhaps? - something like giving son £80 to do a full weekly shop for you all, and making sure there are enough meals and any cleaning things you tell him you need and saying he can keep any change left over. That way he might start to see the value in buying cheaper goods.

edit - sorry I see you've already answered some things!

[Deleted User]

I note you have 3 adults in the house, but you have only listed your and your partner's income?

gilly1964 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 2207.29
Partners monthly income after tax....... 2306.38
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 4513.67
Monthly Expense Details
Mortgage................................ 750
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 131
Electricity............................. 104 - £1,250 pa seems high.
Gas..................................... 0
Oil..................................... 0
Water rates............................. 54.92
Telephone (land line)................... 0
Mobile phone............................ 50 - If this is for 1 or 2 phones, then it seems high.
TV Licence.............................. 12.12
Satellite/Cable TV...................... 65 - £780 pa seems a lot.
Internet Services....................... 0
Groceries etc. ......................... 450 - This is a lot for 3 people.
Clothing................................ 30
Petrol/diesel........................... 300
Road tax................................ 40
Car Insurance........................... 65
Car maintenance (including MOT)......... 75
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10.4
Pet insurance/vet bills................. 0
Buildings insurance..................... 41.5
Contents insurance...................... 0
Life assurance ......................... 109 - Seems a lot.
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 350 - Seems high.
Holiday................................. 100
Emergency fund.......................... 25
Pension................................. 107.67
Wedding Savings......................... 300 - How much is this wedding going to cost???
University ............................. 250
Total monthly expenses.................. 3440.61

Assets
Cash.................................... 0
House value (Gross)..................... 195000
Shares and bonds........................ 0
Car(s).................................. 30000
Other assets............................ 5500
Total Assets............................ 230500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 114000...(750)......4
Total secured & HP debts...... 114000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
CC1............................5925.76...330.......6.9
CC2............................2283.65...165.......0
LOan...........................7500......268.6.....5.8
Total unsecured debts..........15709.41..763.6.....-

Monthly Budget Summary
Total monthly income.................... 4,513.67
Expenses (including HP & secured debts). 3,440.61
Available for debt repayments........... 1,073.06
Monthly UNsecured debt repayments....... 763.6
Amount left after debt repayments....... 309.46
Personal Balance Sheet Summary
Total assets (things you own)........... 230,500
Total HP & Secured debt................. -114,000
Total Unsecured debt.................... -15,709.41
Net Assets.............................. 100,790.59
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

gilly1964

Nargleblast wrote: »

Hello gilly, I also have an OH and a DS who make my efforts to save money challenging to say the least!

Food-wise, I do an online grocery shop (Mr S or Mr T)for delivery the day I get paid, then use a wholesale butchers for meat and a local greengrocer for all the fruit and veg. Any topping up during the month is usually done at the German supermarkets Mr Al or Mr Lid. Home Bargains are quite good for some odds and sods as well.

To make things work out, meal planning is your best bet. You can start off just planning a week's meals to begin with, then do a fortnight at a time and then eventually do a month at a time. It helps focus your attention on shopping wisely. A meal plan does not have to be set in stone, there will be the odd day when you don't stick to it, but it really does help.

Thank you for your input.

I have been doing online shopping since I have been off sick and it does seem to have made a difference, but that is also where the takeaways have come in over the last month as OH has been struggling to cope with all the house stuff and looking after me. I cook from scratch, he has been using jars so they have been a little more but does not answer for the last few months.

Have made a meal plan starting from Monday so will see how that goes this week, not given definite days to things as I don't like to be that regimented.

Aldi and Lidl are too far away to get to whilst I am not working especially as I am not allowed to drive or lift anything too heavy for at least another two weeks, but I will have a nose when I am back in the land of work. Home Bargains are miles away so that is a no no.

Thanks again, will let you know how the meal plan goes.

gilly1964

Tixy wrote: »

Hi

Who does the grocery shopping in the family? is it that they eat a lot - or they only like the top brand goods?

Is DS a student living at home?

Are sports built in to the entertainment section? is this them participating in sports - or spectating at matches/tournaments etc? I guess there is a petrol cost element as well within the petrol line?

Obviousy at the moment you seem to be able to put aside savings and pay quite a chunk extra off your debts (is the £300 surplus going towards debts?), but as you know some of those costs do look high.

Are you likely to remain on full pay (if you are likely to be off sick long term).

Sounds like they need reality checks with the food cost.

Could you try setting them challenges perhaps? - something like giving son £80 to do a full weekly shop for you all, and making sure there are enough meals and any cleaning things you tell him you need and saying he can keep any change left over. That way he might start to see the value in buying cheaper goods.

edit - sorry I see you've already answered some things!

Thanks for your input

The entertainment includes all their sports participation, both of them coach a sport so have to be insured, registered, attend courses. Unfortunately they do not coach well enough to earn from it, but DS does get a free gym membership for doing so. OH also plays golf. Going to introduce them to darts, it is cheaper even if you include a pint. My gym membership is also in there but could not cancel whilst sick as needed a doctors letter which was going to cost £100, membership is £30 per month.

DS could eat for the whole country and thinks nothing of demolishing everything in sight regardless of what he is told. He is a Uni student who travels in every day, cheaper than staying in halls, but his GF is here more often than not so really we are feeding four of us.

Both OH and DS are food snobs, but are slowly coming round to my way of thinking. Have downshifted on brands, but in some cases downshifted too far so have a cupboard of stuff that no one will eat - wheat breakfast biscuits are a prime example, the ones from Aldi will eventually go into a weetabix cake.

I get six months of full sick pay but hope to be back by the end of October so this is not a concern.

Giving DS a handle on the food budget would be tantamount to financial suicide - he went to Mr T for me the other week to get some cereal, gave him £10 he spent the rest on his GF and is now paying it back in extra jobs around the house.:mad:

Thanks again

gilly1964

Bedsit_Bob wrote: »

I note you have 3 adults in the house, but you have only listed your and your partner's income?

Thanks for your replies

Third adult is DS who lives at home whilst attending Uni
He does not work, despite trying to get loads of jobs but does do voluntary work.

Electricity costs include gas also for a 4 bed house
Mobiles is for all 3 of us
Cable and satellite, includes internet and telephone
Insurances are endowment policies linked to the mortgage
Entertainments includes sports as per my previous reply, this is the highest monthly amount - sometimes nearer £200
Wedding - is in May next year, we have only been saving for 6 months so this is a short term spend.

Thanks again

somethingcorporate

Your life assurance is incredibly high, do you need it all? Do you have any cover under your works (i.e. death in service benefits?).

My wife and I have £160k critical illness and life insurance for £27pm. Plus I have 5 times salary for death in service benefits under my works policy (which costs me an additional £3 pm).

[Deleted User]

gilly1964 wrote: »

Third adult is DS who lives at home whilst attending Uni
He does not work, despite trying to get loads of jobs but does do voluntary work.

Not entitled to any benefits?

DCFC79

gilly1964 wrote: »

Mobile phone............................ 50
TV Licence.............................. 12.12
Satellite/Cable TV...................... 65
Internet Services....................... 0
Groceries etc. ......................... 450
Petrol/diesel........................... 300

Is the tv and internet on the cheapest price plan, same for mobiles too ?
Petrol seems high but i guess thats the driving to do the golf right ?
Does he car share for the golf ?

[STRIKE]You say you do internet shoppig but have you thought of shopping at the discounters eg lidl/aldi etc ? [/STRIKE]

Just seen about this ^^^. In that case then consider dropping the brands for shops own brand/basics brand but take price into consideration as well.

This sounds like a good time for the OH to maybe learn how to cook, even if simple foods, pasta is easy, mashed potatoe too, lasagne as well, even chilli is easy. Could even batch cook it, theres recipes on the old style board.

re your OH not coping with the house stuff, why not draw up a rota in excel for certain jobs split between your OH and your son (his gf could mabe help out too).