The Necessities are just opinions… The Big Bill Reductio

shoei

Morning,
I would just like to put our draft plan down to see if anyone could offer any bright ideas on how to make some reductions.
Just to put our plan into context we have are both 29 years old and have lived in our house for the past 6 years but on interest only to allow us to make home improvements. In the New Year we are due to change to a repayment mortgage and would like to make over payments in order to reduce our mortgage of £128,000.
I have listed our monthly budget below and what we have done so far to reduce outgoings.
Mortgage - £1000 – Including overpayments
Council tax - £152
Oil - £70 – This is allowing for a buffer in case we have particularly cold winters or the oil increases. We have already removed the oil guzzling Aga and replaced with an electric oven so that it is more efficient. The oil is only used for CH which is set on a thermostatic timer and only on low in rooms not in use.
Water - £20 – Metered so this is an estimate
Electric - £90 – I feel that this is particularly high but we do have a good tariff and E7 so I’m wondering how we can reduce the electric usage. We supplement the oil heating in the winter with plug in radiators in the rooms we use, we have a log burner, the loft is insulated, windows are poor but these are being renovated with new glass and seals before winter. It is an old stone house with original drafty doors do there is only so much we can do with insulation. We have had new white goods in the past few years so they are quite efficient. We also, if it isn’t good drying weather use an electric radiator in the kitchen on E7 to dry the washing as we don’t have a tumble dryer.
Sky – We need to check this but with calls approx. £50 - This is the basic package, phone and -unlimited internet. I am going to double heck as this comes out of OH account and I think it is too high as we don’t really use the landline.
Mobile x2 - £45. New contract on 1 and reduced right down on the other.
Home Insurance - £20 reduced from £55
Car Loan - £250 – This is due to end December but we have decided to continue to put the cash aside for when we need another car so we don’t have to borrow.
TV licence - £12
Food and General Household expenditure - £500 – Now I know this seems high but our bill used to be at least £400 per month at Tesco. I have now shifted to Aldi and it has pretty much halved. However, it allows us a buffer and to save for general household items and bills that will come up occasionally.
Car Maintenance - £40 – This covers tax, mot, insurance, service etc.
Vets bills - £30 – into a savings pot
Fuel - £140 – I have purchased a more economical car but living in a rural area it is our only transport method.
Horse costs - £70 - Now the title… Our hobbies are important to us and not necessarily the cheapest but that is how it goes… we don’t really drink, we don’t smoke and we don’t go out often bar the odd meal with friends. I have my own horse who I keep at home to reduce costs.
For those who have reached the end…. Well done.. .. I know it is an huge post. And anyone who has any constructive ideas, they would be greatly appreciated.
Also…. My OH is an electrician who wears a uniform and purchases his own tools… I don’ t think this if reflected in his tax code so I am going to look at a rebate…. Does anyone know how to get the rebate for tools?
Many Thanks for your time
Shoei

egoode

shoei wrote: »

It is an old stone house with original drafty doors do there is only so much we can do with insulation.

For the drafty doors have you thought about putting some thick curtins across them in the winter time?? My grandma used to do that in her old house and it really helped reduce the drafts.

shoei

Thanks, we could do this in the hall, but one of the doors leads to the kitchen and I'd be worried about setting it on fire... I'm very accident prone!!! Thinking about it they probably would benefit from a better seal round the edge.... we use sausages at the bottom...I'm sure there is a more technical term!!!