Newbie needing help!

lulu_92

Hi I'm a long time reader, first time poster needing some help.

I've seen all of these income boosting ideas and ways to haggle with various companies to make bills cheaper but I'm so new to it I don't have a clue!

My situation:
I live with my boyfriend in the West Midlands. Our joint income is between 40-45k a year (dependent on overtime availability at OHs work). We have ordered a brochure for a new housing estate that is being built at the end of this year and also decided to try for a baby. Baby has been put off until we know what the house situation will be and we can make sure we have a good deposit/savings pot.

I earn £1400-£1500 4 weekly. I can afford to save at least £300 per month (that goes up to £500 once I pass my driving test and don't have to spend £300 on a train ticket). I want to be able to save so much more than that but am limited by my bills:

Sky - I pay roughly £95 per month for TV, internet and phone. We have nearly every channel (although I only have movies because it was apparently cheaper than just having sports?). I'm willing to give up HD but I want to keep my normal channels and Sports. Broadband and phone aren't massive issues but a price cut is a price cut!

Phone - Took out my contract in March for £40 a month for 24 months. Not too sure what my rights are right now for haggling this down.

I put £200 every 4 weeks aside for food but we never spend it all and put a fraction into savings (last month we put 50% of it into savings)

Any ideas would be much appreciated.

ammiLy

Hi lulu 92!

You say you pay for sky, phone and internet, does that mean your boyfriend pays other bills? Make a note of what channels you actually watch and that should help you make a decision on what package to go for. Also if you're near the end of contract call sky threatening to leave and they should offer you some good deals.
Don't think there's much to be done about you mobile contract. You're out of cooling down period and not far enough into the contract to negotiate/leave without penalties. Next time buy handset and take out SIM only contract (they come in 1 year contracts hat are a bit cheaper and monthly contracts).
I believe a good place to start is detailed analysis of your income and expenditure. Make sure you're not paying-off debt at a higher rate than you're earning on your savings (if so pay off debt), make sure your savings are earning you at the highest potential etc.
Depending on what you spend money on you can make savings on grocery shopping by buying own brand and watching out for good deals; on beauty treatments by finding local beauticians college and becoming a model there (could be free, pay for products or a small fee); same for hairdressers; swap expensive gym for a local council one or better still free exercise at home or outside (places like freecycle will help you find exercise equipment if needed or for example a bike); at home cut down on water/elec/gas usage, be savvy with cooking and don't throw away food etc. Re-use, re-cycle, up-cycle!

lulu_92

Thanks, ammiLy.

Yes, maybe I should be clearer:
We live in my boyfriend's house. He bought the house way before he met me so we made a deal that he would continue paying the household bills and I would pay for food, sky/internet/phone and anything for the house.

That's a good idea with Sky.
I took out my contract because I had smashed my other phone to smithereens and got a great deal (£50 for my broken phone, contract on that handset paid off, free phone and a free galaxy gear which i sold for £100)
SIM only will definitely be on the cards next.

I don't spend a lot of money on toiletries and things like that as I always buy cheap and in bulk. The only thing is I get my nails done every now and again, which is £20 (I bite my nails and I'm trying to stop and this is the only way that works) - the cheapest in my area (I can't do DIY nails)

I don't waste a lot of food and I buy pretty much everything own brand or basic (with the exception of bread as I don't mind paying 35p more for really thick bread)

For the electric and gas we overpay every month and get a cheque in the post every summer, which goes straight in the building society.

I wouldn't say I'm terrible with money, I think I need to optimise what I am doing.

But any advice is welcome!

I don't have any debt (yay!)