Advice required!

mynameisben

buzzyzoe wrote: »

Tobacco definitely seems like an area where you could make savings. Even if you don't quit, could you cut down? Or have you tried E-cigarettes? Think they might be cheaper?

As with everything, it's a compromise. Is it worth cutting back on the social side of your life to be able to save more? Again, doesn't necessarily mean that you have to stay in, but could you find cheaper ways to socialise, or spend less on drinks when you're out?

Again, could you walk more instead of driving? Obviously this won't be feasible if you work really far away, but if you use the car for a lot of small journeys, maybe you could cut back on them.

Depending on where you live, would it be possible to use public transport instead of driving? Appreciate that this may not even be cheaper though, and is likely to be much less convenient, but could be something to think about?

I have thought about trying to cut my habit down, but I go a couple days then back to square one...
I think those E cigrettes are a bad idea, I would end up just having it perma out my mouth haha.
I have thought about Investing In a bike again, I did used to cycle - but If I was going to buy a bike, then it would have to be something decent as a cheap bike might look financially attractive but then they just don't last as long. With that, would I get the savings matched in fuel costs?. my only way round I think is to cut unnecessary journeys down like nipping to the shops etc. short trips are always the worst.
Public transport is laughable by where I live too. the bus service isn't good, and I start work at 11pm. If I caught the bus, and then walked from the station - I think it is less time to just walk from my house to work (about 40 mins walk)

Nothing but bloody negatives haha. I think I need to start n think more positive!

one positive I have started with this week to try and squeeze a little more into my savings is drinking squash instead of just using vending machines etc. I bet I could spend 20 a month on just drinks for work where as a bottle of squash a week is what maybe a couple of quid and more refreshing

buzzyzoe

Sounds like you've thought all these options through, which is a good sign. I think small savings can make a big difference. I switched from buying lunches at work to bringing food in, and saved £15 a week easily. Definitely sounds like cutting out short car journeys could save you a bit.

It might not sound like a lot, but it all adds up!

Either way, at least your head's in the right place and you're trying to save as much as possible. It's frustrating having to wait, but it will be more than worth it in the end.

mynameisben

buzzyzoe wrote: »

Sounds like you've thought all these options through, which is a good sign. I think small savings can make a big difference. I switched from buying lunches at work to bringing food in, and saved £15 a week easily. Definitely sounds like cutting out short car journeys could save you a bit.

It might not sound like a lot, but it all adds up!

Either way, at least your head's in the right place and you're trying to save as much as possible. It's frustrating having to wait, but it will be more than worth it in the end.

Well i always take sandwiches, - we dont have facilities at work for food, other then a microwave and a fridge. its mainly drinks which cost me so much, Ive got into that habbit of because i work nights, Im probably going through two relentless energy drinks a night - bad i know, but I think if im going to change that to water then its not only a money saving option, but then also a health option too. they are no good. two of them is 110% of my RDA for sugar, coupled with me tea intake - two sugars as standard.

Ive bought two of those books recomended above: The snowball and the naked trader - I didnt buy rich dad poor dad, on the basis of the author has just declared himself bankrupt,

this i would see as a logical, small investment could open my eyes to save better and be alot smarter with my money.


I have another dilemma which is confusing, I'd worked out in my opening post that i should have owed about 2100 pounds left on my loan, now because it is with a debt agency nothing else would be added on because they would own the whole debt including interest as one lump sum:

so i wanted to find out what was left, to see if its worth, using what i have saved to pay it off, or just keep going as i am,
now i last rang up on the 2nd of April, to be told my outstanding was 2638.92p which i worked out to be correct
the polite lady on the phone, the other side of the world somewhere in asia, Pointed out that my remaining balence was actually infact 3128.44p!!!!

I have no idea how this could be, neither did she. As ive worked it out to be now, including this months payments, as 1918.92

ahh. its not a strait road is this!

Another change - you mentioned second job - I found out im going back to 4 on 4 off so maybe i have the potencial to do, 2 days worth of work and move it forwards each week ? bar job prehaps ?

I'll have to have a mooch.

anotheruser

You need to find a new job.

Don't Rush
Don't think the mortgage lender won't be able to offer you another mortgage in a couple of years time. There is no rush. Remember a house is usually the biggest purchase people make in their lives so you don't want to rush into anything and make a mistake just because you're excited about getting your own place.

Smoking
Quit smoking which will help you save quicker.
Why not make it a challenge as you have a great aim for the end. There's loads of support out there because lets face it, smoking really is money down the drain.

Phone
Do you really need to pay £43 a month for a phone contract? Man, I spend £10 and get by just fine. But I guess for that price, you are an iPhone user, those contracts are always a rip off. There are a lot better phones on the market at a lot less. £1032 over two years is a lot of money compared to my £490 (adding £250 for my phone purchase).

Can you REALLY afford it?
If you are paying £200 board now, what makes you think you could afford the £500 or so in monthly mortgage payments? I made an assumption on the repayment price.

You also need to remember a new home means new bills to pay. You should budget (at least):

£500 for rent / mortgage
£100 for gas and electric
£20 for water
£150 for food

... all monthly.

Can you really afford these things?
Obviously I've not even included clothes, going out, not included your cigarettes either.

Don't get me wrong, I managed it once but I had a lot less rent to pay (it was about £300 per month).

Sounds to me like you think buying a house is like buying a used car...

mynameisben

anotheruser wrote: »

You need to find a new job.

Don't Rush
Don't think the mortgage lender won't be able to offer you another mortgage in a couple of years time. There is no rush. Remember a house is usually the biggest purchase people make in their lives so you don't want to rush into anything and make a mistake just because you're excited about getting your own place.

Smoking
Quit smoking which will help you save quicker.
Why not make it a challenge as you have a great aim for the end. There's loads of support out there because lets face it, smoking really is money down the drain.

Phone
Do you really need to pay £43 a month for a phone contract? Man, I spend £10 and get by just fine. But I guess for that price, you are an iPhone user, those contracts are always a rip off. There are a lot better phones on the market at a lot less. £1032 over two years is a lot of money compared to my £490 (adding £250 for my phone purchase).

Can you REALLY afford it?
If you are paying £200 board now, what makes you think you could afford the £500 or so in monthly mortgage payments? I made an assumption on the repayment price.

You also need to remember a new home means new bills to pay. You should budget (at least):

£500 for rent / mortgage
£100 for gas and electric
£20 for water
£150 for food

... all monthly.

Can you really afford these things?
Obviously I've not even included clothes, going out, not included your cigarettes either.

Don't get me wrong, I managed it once but I had a lot less rent to pay (it was about £300 per month).

Sounds to me like you think buying a house is like buying a used car...

Hi Anotheruser,

Ive got a SamsungS3 - Im only 1 year into the contract so 12 months to go - the reason i decided to get a bigger contract was because before i had a smaller one, but found each month my bill to be 80+ a month, the most being 100 which is when i decided to cash in and get a bigger contract to manage it better. this is the first smart phone ive ever had haha! - the butt of many a joke with friends.
I suppose at the time, i could of picked a cheaper phone, resulting in a cheaper contract but i thought i would treat myself


Its not something im rushing either, its something i want - i just dont wanna be like my folks n have nothing because they squandered what ever they got..

as for budgeting, ive made some rough estimates, if i take car into acount, then it pushes it further toward the 1000 mark, but still spare ££ - then i would have 3-400 spare every month, this would then accumulate, I dont do holidays either. never have. infact the first time i went on a plane was last year - which i think these days is rare..

I will quit. I just need the motivation and mind to do it - its just hard when i think, Ive been doing it close to 10 years - the longest in that point i went was about 1 year. I know i can do it, i just need to get back into that mind frame.

I think also, the past week has been quite informative, its given me perspectives and opinions which i had not thought or looked at, and how simple life style changes could result in better savings for me,

If anything, its given me more determination to succeed in quitting fags, saving more, getting a house!