Ok I promised it in my first post (Our SOA)

Penny-Pincher!!

There is alot you could cut back on in your SAO which other people have already commented on, but TBH you need more income coming in! Could your wife not work in the evening whilst you have the children? Even doing a couple of evenings a week in a supermarket would mean an extra £200pm, plus cheaper food.

HTH

PP
xx

lmw1977

Penny-Pincher!! wrote: »

There is alot you could cut back on in your SAO which other people have already commented on, but TBH you need more income coming in! Could your wife not work in the evening whilst you have the children? Even doing a couple of evenings a week in a supermarket would mean an extra £200pm, plus cheaper food.

HTH

PP
xx

To be honest it all helps...I must admit it started to feel like I was being "hard done by" but I then realised that it wasn't any of the comments that were hurting but the truth

We've over spent...if we continue to do that we'll be a lot worse off than we are now!

Just to clarify I do know that there are families/people surviving on a lot less than we have coming in (and spend on nappies/wipes et al!!!) and I can empathise with this since I have been in that position with my previous financial misdemeanours (living on fried bread for a week etc. but enough of that as I've seen a how low did you go thread somewhere!!!)

I'm an impulse buyer...there I've said it...I see something (particularly music related) and I NEEEED it: I refer to it as CUPS (Compulsive Unstoppable Purchasing Syndrome)…am I in the right board to get the [strike]frequent[/strike] occasional slaps around the face if I start talking about buying stuff I don’t need?

Right well at least it’s time to say I feel better for at least getting it all off my shoulders...and into the open!

Ok so… as well as the items previously mentioned we are looking at reducing costs on shopping for all items Food/Household/Children: I’ve been lurking (well last night at least) in the OS board and am happy to see I’ve already implemented some of the basic steps they refer to (I have only started them this month however so hopefully still many savings to come) e.g. menu planning, I'm cooking from scratch and I'm loving it doubled up yesterday so now I'm also stocking up the freezer with good wholesome and cheap food etc. I spoke to my wife yesterday apparently she has already decided to take the following steps: we no longer spend the monthly figure on magazines/newspapers; Even though the figure for nappies/wipes/creams everything baby related that’s not food/household has dropped to 40 per month she is looking at ways to reduce this figure also she says she has no problem looking for an evening job.

Thanks for all of your help, I'll keep you posted: now to get on and action some of this (well when I get home from work!).

Thanks again.

lmw.

poppy10_2

Is your mortgage interest only?

caeler

lmw1977 wrote: »

Re the 2 cars and Public Transport: Yes...long story, but last year I was in an ok situation financially so I took on another car whilst my brother went to work abroad...since I cannot afford the car tax on it it's off the road I still have to keep it insured (it's dropped down to tpf&t from fully comp) to keep it safe as I will have to give it back on my brothers return (end of sept). I know...I know...however there's not much I can do on this front, I've found the cheapest insurance I can and I'm learning the lesson. Well unless you guys n girls can come up with another idea?

I've heard you can get fire & theft only insurance, so you won't be able to drive it but if its stolen or arsoned then you can claim, just must be cheaper. Might be worth an enqury to explain your circumstances. Or they might apply a restricted mileage clause which could reduce the cost.

chevalier

Buying presents for 30 people that is ALOT of people. Are any of these aunts/uncles? If so then for this year how about a nice piccy of the children for one present? Or if you get on well with some of the relly's have a chat a long the lines of you not wanting presents and they not buy them for you? You may be surprised how many people agree to this (remember you might not be the only one with money worries). If you can be honest to some and say you can't afford it, then well and good. Or alternatively say you will just buy for the children.

But I think you have to limit the price of the present too. I spend £20 per person at birthday and Christmas. Luckily most of my nephews and nieces are in their late teens and early 20's, so a cheque is just as welcome for them.

You could also look to buy throughout the year. I have already begun shopping for christmas:D in the summer sales! I save a fortune this way. Each present gets put into the present box ready for December!

best of luck if you want a list of web sites for getting a bit of extra dosh, let me know and I will put them in another post
chev

Lucie_2

lmw1977 wrote: »

she says she has no problem looking for an evening job.

I don't know what she is interested in, but she might like a couple of evening shifts at a local leisure centre or gym? They're always looking for part-time receptionists & the like. Staff generally get free membership, so she would still be able to go to the gym FOC. I know it's only down as a v. small cost on your SOA, but it all adds up.

ms_london (DFW legend!) did this to earn extra for debt repayment IIRC

lmw1977

Nope, mortgage is repayment...also...I may be able to take a payment holiday on this...to ease the immediate pressure and stop any fee's ocurring.

Normally I hate the idea of extending my mortgage but it might stop me incurring more bank fee's and pay off some of the really high interest debt...of course thinking like this though I'll not be joining the MFW board any time soon...what are your thoughts on this type of thing?

I'll look into the local gym that's a great idea... and fire and theft insurance (I'll look at quidco and the like if I go to a new provider).

Surprisingly my wife has come out with a right good ole fashioned thrifty streak which is just what we need given the circumstances and she has informed me that she has alread got our daughters xmas pressies sorted she wanted a bike and we got one quite cheap in the summer sales!!!!

All great suggestions again!