Help me with my budgeting

welshsarah1

Im really bad with my money, I have 2 kids and 1 due in august and hoping that someone can help me with my finances. I know this is really cheeky but my OH wont sit down and go through it with me and I get stressed. Just looking at tips to help me save and want to try building a bit of savings, Can you help?xx

Here is my incoming s

Pay 1070 a month
housing allowance 110 every 4 weeks
Tax Credits 522 every 4 weeks
Child benefit 134 every 4 weeks

Outgoings
Rent 450 a month
Council tax 107 a month
gas and electric 180 a month (its been freezing this winter)
Sky 30 (we have broadband, tv and phone) monthly
car insurance 34 monthly
Daughters dinner money 45 every 4 weeks
Sons playgroup 60 every 4 weeks
Petrol 120 every 4 weeks
Mobile contract 25 every month (contract until march)
tv licence 12 a month
netflix and love film 16 a month
water 30 a month

I also have 700 on BNPL (ending end of april 2014, from very (Bought baby stuff but this is only debt we do have)

Just need help with saving some money back for car tax, and maintenance and saving to pay off the BNPL. Thank you so much xxx

tuttifruiti20

welshsarah1 wrote: »

Im really bad with my money, I have 2 kids and 1 due in august and hoping that someone can help me with my finances. I know this is really cheeky but my OH wont sit down and go through it with me and I get stressed. Just looking at tips to help me save and want to try building a bit of savings, Can you help?xx

Here is my incoming s

Pay 1070 a month
housing allowance 110 every 4 weeks
Tax Credits 522 every 4 weeks
Child benefit 134 every 4 weeks

Outgoings
Rent 450 a month
Council tax 107 a month
gas and electric 180 a month (its been freezing this winter)
Sky 30 (we have broadband, tv and phone) monthly
car insurance 34 monthly
Daughters dinner money 45 every 4 weeks
Sons playgroup 60 every 4 weeks
Petrol 120 every 4 weeks
Mobile contract 25 every month (contract until march)
tv licence 12 a month
netflix and love film 16 a month
water 30 a month

I also have 700 on BNPL (ending end of april 2014, from very (Bought baby stuff but this is only debt we do have)

Just need help with saving some money back for car tax, and maintenance and saving to pay off the BNPL. Thank you so much xxx

£180 a month for gas and electric a month is incredibly high, are you sure that this isn't based on estimated readings? Check this as you could be overpaying hundreds a year without realising. Also, can you look at insulation, turning off the heating where possible and just wrapping up warmer?

Can you not make school dinners for your daughter and save probably £30 of the £45 every 4 weeks?

Does your son need to be in playgroup? If only one of you is working? Assuming so from the 1070 a month incomings from work?

Can you cancel at least one of the netflix or lovefilm subscriptions?