earning more than ever before but have been overspending!

mrsdee

Hello peeps. Not quite sure how I got here but obviously I have been massively overspending and extravagant since landing fantastic job 3 years ago. Too many nice holidays, new car, nicer gym membership etc. Clearly I have taken my eye off the ball and thought my increased salary was way more than it means in reality... oops...
I'd never been overdrawn before in my life and now I am, and have put some on 0% finance card for a few months (due to new car expense).
Seriously need to rein in and stay on track. So will be lurking on here from time to time to get inspiration and strength!! Have also joined the cutting down/giving up alcohol thread as I know we spend too much on the demon drink also..... sigh....

patator

Hey mrsdee - wow, well done with being so honest with yourself and with posting here! So easy to overspend without realising how much you're bashing your budget, but having realised that you need to cut back, and posting for inspiration and motivation, I'm sure you'll be able to get back on track in no time :T

mrsdee

Thanks. I just dont want to it to get out of hand which it could so easily do... Reading such inspiring and motivating stories on here has been fantastic - bring it on!!
thanks for the support....!

retepetsir

Well done for admitting it.

Now post up your SOA and we can get going

PinkPepperPot

Welcome to the forum mrsdee It sounds like you have definitely got the right attitude and being honest with yourself is the first step in getting back in control of your finances!

If you are willing to post up an SOA it is a great way to see exactly what you are over spending on and there are lots of very helpful people on here who may have some suggestions for you

mrsdee

Please can some explain what SOA is? Sorry, bit of a newbie on here (which is why I am here!!).

PinkPepperPot

It is a Statement Of Affairs (basically what you have coming in and what you have going out) and can be found here: http://www.makesenseofcards.com/soacalc.html (I'm not sure if I am allowed to post links yet so fingers crossed it works).

If you have a look at some of the other threads in on the DFW boards you will see some other peoples SOA's which might give you an idea of what information you need before you go ahead and start filling it in.

HTH x

mrsdee

Thanks! I see what you mean now... I pretty much know what I need to do as have been spending way too much on treats such as weekends away, holidays, theatre, cinema, meals out in the past two years whereas previous would have been much more cautious. My general outline going forward s as follows. Have one teenaged stepson who lives with myself and DH.

my income : 3925 per month after tax/pension contribution etc.

outgoings :

DSC pocket money15.00gas/elec76.00gym/healthclub - me73.00gym/healthclub - OH73.00pet insurance14.00phone (now payg)5.00was 35mortgage1419petrol210.00groceries/household500.00haircut28.00cleaner48.00was 96council tax150.00sky70.00car insurance24.00car tax20.42clothes100.00entertainment and treats/meals200.00savings/pay off debt/odraft500.00water25.83birthdays/christmas40holidays170charity 20.00pet food20.00
3781.25


total 3781.25

mrsdee

sorry that didnt post well from excel. doing again.....


Thanks! I see what you mean now... I pretty much know what I need to do as have been spending way too much on treats such as weekends away, holidays, theatre, cinema, meals out in the past two years whereas previous would have been much more cautious. My general outline going forward s as follows. Have one teenaged stepson who lives with myself and DH.

my income : 3925 per month after tax/pension contribution etc.

outgoings :

DSC pocket money15.00
gas/elec76.00
gym/healthclub - me 73
ym/healthclub - OH73.00
pet insurance14.00
phone (now payg)5.00was 35
mortgage1419
petrol210.00
groceries/household500.00h
aircut28.00c
leaner48.00was 96
council tax150.00
sky/phone/broadband 70.00
car insurance24.00
car tax20.42
clothes100.00
entertainment and treats/meals200.00
savings/pay off debt/odraft500.00
water25.83b
irthdays/christmas40
holidays170
charity 20.00
pet food20.00
TOTAL 3781.25


total 3781.25

mrsdee

OK have just taken a few minutes to read a bit of scrimpingandsaving's thread and fear I may be in the wrong place and just need to hop over to OS, or just need to lurk and get some ideas/inspiration from others. I know where I've been too extravagant in the past couple of years and can fairly easily (thankfully) redress that. I hope I have not come across as being in any way annoying or anything... I'm not necessarily needing anyone to advise on what I need to do, as that is clear. But I wanted to get it out there as I need to see it myself in black and white.

gadgeteer_2

Seems to me that you are actually in a fairly good position. You've not got a large amount of debt in relation to your income and with a sustained effort you can easily clear it.

The obvious ones to me are the 2x£73 for gym membership. For nearly £150 a month, I'd expect someone to be running on the treadmill for me! Instead find a cheaper gym or if you live anywhere near one use a boot camp type place. Much better workout, no slacking and it's cheaper.

Sky. Call them up and tell them you can't afford it. They should easily be able to do you a deal.