My SOA - please advise

cazbarfeatures

Re: Be gentle

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Hi cazbar.

I'm more than happy to help but you will get even more advice and suggestions if you post this on the DFW board.

Two heads are better than one so to speak.

Just copy what you sent to me and put it in a thread titled something like 'My SOA - Help' and you will get loads of advice!


Quote:
Originally Posted by cazbarfeatures
Dithering Dad suggested that I posted a message via the DFW board and recommended you for help.

I wasn't quite sure where to the post the following but I was wondering if you would mind advising me ...

Monthly outgoings

Mortgage - £650
Council Tax - £123
Childcare fees (directly taken out of wages) - £565 (I do have the childcare voucher scheme but haven't a clue how much that benefits me)
Additional childcare fees if I do overtime - £40
Petrol - £140 (one car, takes myself, oh to work and son to nursery)
Shopping Bill (nappies, food, household, toiletries) - £400
Virgin Media (internet, tv) - £48 (includes £5 non-direct debit fee)
Direct Line House/Contents insurance - £37.71 (made a claim last year) we stay with
them because they offer free travel insurance
Credit Card - £170

Quarterly outgoings

Gas/Electric - £300 (based on last winter bill - Powergen we stay with them for tesco clubcard points)
Phone - £75

Half yearly

Water - £100 (have a water meter)
Car Service/Maintenance - recently paid £180 ( car reg W astra)

Annual outgoings

TV Licence - can't remember exact fee
Road Tax - again can't remember (1.6 engine)
Insurance - £400 (4 years no claim)
Misc. Clothes/Days out/Entertainment/meals out/Birthdays/christmas/son's birthday party etc - rough, rough guess £800
Holiday - £2000 (we tend to visit my sister in the US and pay flights only) this would include spending money

Incomings Monthly

Joint Salary - £2400
Benefits - £110
Surveys/Ebay sales - again very rough £10


I have missed something I'm sure ... I do check the boards regularly, buy off ebay etc to try and cut back

My aim is to pay off my £5K (ish) credit cards and start overpaying on my £117k mortgage over 35 years (eek ... I am 35) that started last August

Tashja

Hi Hun

Welcome to the DFW board !!!

I will try and get you started until some of the more experienced posters come along !!


Monthly outgoings

Mortgage - £650
Council Tax - £123
Childcare fees (directly taken out of wages) - £565 (I do have the childcare voucher scheme but haven't a clue how much that benefits me)
Additional childcare fees if I do overtime - £40 - How old is your little one ?? Is he due a free nursery place or due to start school soon ??
Petrol - £140 (one car, takes myself, oh to work and son to nursery)
Shopping Bill (nappies, food, household, toiletries) - £400 Could be cut down a bit if it is just the 3 of you
Virgin Media (internet, tv) - £48 (includes £5 non-direct debit fee) I think you can claim back the £5 fee because it is unfair - seen something on Watchdog - might be worth lookimng in to - Also could you get Freeview instead. Failing that call them and tell them you are moving to Sky and see if they will give you the package cheaper for a while !!
Direct Line House/Contents insurance - £37.71 (made a claim last year) we stay with them because they offer free travel insurance
Credit Card - £170 What APR is this ?? and how much outstanding ??

Quarterly outgoings

Gas/Electric - £300 (based on last winter bill - Powergen we stay with them for tesco clubcard points) Check this is still the best deal even with the Clubcard points !!Phone - £75

Half yearly

Water - £100 (have a water meter)
Car Service/Maintenance - recently paid £180 ( car reg W astra)

Annual outgoings

TV Licence - can't remember exact fee
Road Tax - again can't remember (1.6 engine)
Insurance - £400 (4 years no claim)
Misc. Clothes/Days out/Entertainment/meals out/Birthdays/christmas/son's birthday party etc - rough, rough guess £800- This could really be cut down - look on o/s board for some tips on great presents and kids parties
Holiday - £2000 (we tend to visit my sister in the US and pay flights only) this would include spending money Can you make your holiday every other year - the £2,000 would go along way to helping you pay off your debts earlier !!


Incomings Monthly

Joint Salary - £2400
Benefits - £110 - Have you checked this is all you are entitled too ?? you might be entitled to WFTC and they might help with childcare
Surveys/Ebay sales - again very rough £10 - Are you with Pigsback ?? This should bump it up a bit and the Boots giftvouchers will help with nappy costs, etc.

Hope this helps a bit

T xx

ifstar

cazbarfeatures wrote: »

Monthly outgoings

Mortgage - £650
Council Tax - £123
Childcare fees (directly taken out of wages) - £565 (I do have the childcare voucher scheme but haven't a clue how much that benefits me)
Additional childcare fees if I do overtime - £40
Petrol - £140 (one car, takes myself, oh to work and son to nursery) This does seem a bit high, are all the journey's necessary, could some be walked etc?
Shopping Bill (nappies, food, household, toiletries) - £400
Virgin Media (internet, tv) - £48 (includes £5 non-direct debit fee) Phone them and say you are considering leaving, ask them if they will give you a deal to switch to direct debit
Direct Line House/Contents insurance - £37.71 (made a claim last year) we stay with them because they offer free travel insurance Seems quite high, there will be other places that offer free travel insurance, I think Tesco do this. Also if you switch then use Quidco to get cashback and you could probably halve your costs.
Credit Card - £170

Quarterly outgoings

Gas/Electric - £300 (based on last winter bill - Powergen we stay with them for tesco clubcard points) How much do you get in vouchers, it would be crazy to stay with someone if you can get a better deal elsewhere
Phone - £75 Is this a mobile bill ?

Half yearly

Water - £100 (have a water meter)
Car Service/Maintenance - recently paid £180 ( car reg W astra)

Annual outgoings

TV Licence - can't remember exact fee
Road Tax - again can't remember (1.6 engine)
Insurance - £400 (4 years no claim) When this is due, shop around and also use Quidco to get some cash back, you might still pay 400 quid but you could get £100 cashback
Misc. Clothes/Days out/Entertainment/meals out/Birthdays/christmas/son's birthday party etc - rough, rough guess £800
Holiday - £2000 (we tend to visit my sister in the US and pay flights only) this would include spending money

Incomings Monthly

Joint Salary - £2400
Benefits - £110
Surveys/Ebay sales - again very rough £10


I have missed something I'm sure ... I do check the boards regularly, buy off ebay etc to try and cut back

My aim is to pay off my £5K (ish) credit cards and start overpaying on my £117k mortgage over 35 years (eek ... I am 35) that started last August

Hope this helps

danielleindebt

some good sugestions here. i have discovered pigsback and its really good.

rayday2

Pigsback have given me and hubby £70 since Christmas very generous of them and goes towards my Christmas fund for the children so far I have £308 in vouchers and amazon certificates.

If you have time definately check out paid surveys the golden rule though is not to pay out to anyone all the ones I use are free to join.

redballoon_2

Monthly outgoings

Mortgage - £650
Council Tax - £123
Childcare fees (directly taken out of wages) - £565 (I do have the childcare voucher scheme but haven't a clue how much that benefits me)

Look into this! I dont know exactly how it works but you will benefit from it!
Is there any other option for childcare? even if it was for one day a week?

Additional childcare fees if I do overtime - £40
Petrol - £140 (one car, takes myself, oh to work and son to nursery)

Shopping Bill (nappies, food, household, toiletries) - £400
This can cut BIG time! Check out the money saving old style board for tips ans hints on this. our food bill is approx £80 per month for me and hubby (plus two cats!)


Virgin Media (internet, tv) - £48 (includes £5 non-direct debit fee)
Is there anyway you can shop around for prices for tv? have you considered getting a freeview box instead of paying for channels?

Direct Line House/Contents insurance - £37.71 (made a claim last year) we stay with
them because they offer free travel insurance
Credit Card - £170

Quarterly outgoings

Gas/Electric - £300 (based on last winter bill - Powergen we stay with them for tesco clubcard points)
Shop around for this, and it is generally cheaper to pay via direct debit, that way its broken down monthly so no big shock all in one go!

Phone - £75

Half yearly

Water - £100 (have a water meter)
Car Service/Maintenance - recently paid £180 ( car reg W astra)

Annual outgoings

TV Licence - can't remember exact fee
Road Tax - again can't remember (1.6 engine)

Insurance - £400 (4 years no claim)
Have you thought about paying monthly for this? it would spread the cost so you wont be paying it out all at once?


Misc. Clothes/Days out/Entertainment/meals out/Birthdays/christmas/son's birthday party etc - rough, rough guess £800 This can be cut down dramatically. Shop around for things,collect presents as you shop to spread the costs, make presents and get a hobby at the same time! Have you joined freecycle? Instead of presents for friends/relatives you could give them vouchers to cook them a meal or bake them a cake/babysitting for a weekend? Join pigsback to get vouchers to buy presents with or just give them the vouchers!



Holiday - £2000 (we tend to visit my sister in the US and pay flights only) this would include spending money Could your sister not come over to you and do this alternate years? It is a big spend out and a holiday is not an essential.

Incomings Monthly

Joint Salary - £2400
Benefits - £110
Surveys/Ebay sales - again very rough £10


Think about what is essential spending and what is not!

Hope that is some help

Dithering_Dad

Hi Caz,

I'm glad to see you're getting lots of good advice for your SOA. I told you these guys on DFW were wizards!!

cazbarfeatures

Thank you one and all, I can't seem to thank you for your individual posts maybe because it's from my quote ...

My little angel is 3 next month, I am loathed to move him out of his present nursery because he is getting on so well there and he has friends. I understand that some time after his 3rd birthday we do extra help from the government but I have to wait until September. We already get my mum to look after him for one day a week but she is 73 next month and I don't want to put too much on her. My MIL is 68 and wants to carry on working to get away from my FIL!!

I will look into Tesco House Insurance though even just to threaten Direct Line with.

I have already negotiated down my virgin media cost because of losing the sky channels.

I know the annual holiday to my sister's in the US is a bit extravagant and she does come over at Xmas.

oooh gotta go being shouted for ...

Caz