Help with budgeting

fkelanne

Aslongs I have gas lecky and food and all bills are paid on time, I'm wanting to save the rest. I've wrote down all my dds and cash payments I have. So I need £40 a week for gas and lecky, £25 for school dinners, £20 petrol and £70 for shopping. The rest can all stay in my bank. I was going to send £160 to an account just for spends and leave the rest. It should work. If I stick to it. Which I am going to be really strict. Even said to kids they may need to go onto pack lunch. Saves £100.

Archi_Bald

$60 (£35) for YNAB might be the best £35 you ever spent - - - have a look at all sort of people waxing lyrical about it on the forum: https://www.google.com/search?as_q=&as_epq=ynab&as_oq=&as_eq=&as_nlo=&as_nhi=&lr=&cr=&as_qdr=all&as_sitesearch=forums.moneysavingexpert.com&as_occt=any&safe=images&tbs=&as_filetype=&as_rights=&gws_rd=ssl

But if you want something free, you could try Moneydashboard. They even pay you £8 for using it http://www.quidco.com/money-dashboard/ (no catches as far as I can make out)

Dobbibill

If you like spreadsheets, you could try this but alot of people love apps, whatever you prefer. The main thing is it has to be something you will use regularly to keep on top of every penny

http://www.vertex42.com/ExcelTemplates/budgets.html

DB

fkelanne

I can't do spread sheets. I think I would prefer an app. Then I can just add my spending bills and incomings.

mum2one

fkelanne wrote: »

Thank you all. I started last night sat down and looked at my bank account to see I was spending about £100 per week on take always and eating out(and I wonder y I'm 11st) I've tried opening another account with a diff bank but 2 have said no. I don't want to try anymore. So looks like I'm going to be sat today looking at the prepaid ment cards. If I set up say £155 to go into that account every week for dinner money, gas lecky and shopping. The rest will stay in my currant account building up I am going to give my sister my card for my currant account. I'm going to forget about it. If I can do it for a month I won't want to spend the money. I got park vouchers for Xmas so that's sorted. I'm going to stick to it. And if I feel the need to spend anymoney my sister will be asking me what for. Lol

what about opening a second account with your bank, either a basic bank account, so you get a debit card, but no overdraft.

or - open a savings account, and keep your spends in the current account, and transfer any spare to the savings account, then if you have a once a yr bill or quarterly, then draw the money to pay the bill or transfer into your current and pay then.

x

mum2one

fkelanne wrote: »

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\f0\fs22 \cf0 \cb2 \expnd0\expndtw0\kerning0
\outl0\strokewidth0 \strokec3 Statement of Affairs and Personal Balance Sheet\
\
Household Information\
Number of adults in household........... 1\
Number of children in household......... 2\
Number of cars owned.................... 1\
\
Monthly Income Details\
Monthly income after tax................ 1000\
Partners monthly income after tax....... 0\
Benefits................................ 1305\
Other income............................ 0\
Total monthly income.................... 2305\
\
Monthly Expense Details\
Mortgage................................ 0\
Secured/HP loan repayments.............. 220\
Rent.................................... 308\
Management charge (leasehold property).. 0\
Council tax............................. 80\
Electricity............................. 50\
Gas..................................... 70\
Oil..................................... 0\
Water rates............................. 0\
Telephone (land line)................... 0\
Mobile phone............................ 50\ that is high, at end of contratc look at sim only deal
TV Licence.............................. 11\
Satellite/Cable TV...................... 0\
Internet Services....................... 35\- could you get this cheaper
Groceries etc. ......................... 280\
Clothing................................ 0\ nothing for clothing, i'd estimate £80 in here
Petrol/diesel........................... 80\
Road tax................................ 0\
Car Insurance........................... 79\
Car maintenance (including MOT)......... 0\def need something in here, -£30
Car parking............................. 0\£20 - even if you dont need it and it goes towards breakdown cover or maintance
Other travel............................ 0\
Childcare/nursery....................... 0\
Other child related expenses............ 0\
Medical (prescriptions, dentist etc).... 0\ - not even over the counter items??
Pet insurance/vet bills................. 0\
Buildings insurance..................... 0\
Contents insurance...................... 7\
Life assurance ......................... 0\
Other insurance......................... 0\
Presents (birthday, christmas etc)...... 0\ this cant be a zero - £40 here
Haircuts................................ 0\ - never a haircut - £20
Entertainment........................... 0\ - never go out £50
Holiday................................. 0\
Emergency fund.......................... 0\ £20 in there
School dinners.......................... 25\
Total monthly expenses.................. 1295\
\
\
Assets\
Cash.................................... 0\
House value (Gross)..................... 0\
Shares and bonds........................ 0\
Car(s).................................. 0\
Other assets............................ 0\
Total Assets............................ 0\
\
\
Secured & HP Debts\
Description....................Debt......Monthly...APR\
Mortgage...................... 0........(0)........0\
Hire Purchase (HP) debt ...... 1500.....(132)......69.9<\ how much longer left on this -hp.............................2000.....(88).......69.9\
Total secured & HP debts...... 3500......-.........- \ ditto
\
Unsecured Debts\
Description....................Debt......Monthly...APR\
car............................3294......172.......59.9\ - how long left on this
Total unsecured debts..........3294......172.......- \
\
\
Monthly Budget Summary\
Total monthly income.................... 2,305\
Expenses (including HP & secured debts). 1,295\
Available for debt repayments........... 1,010\
Monthly UNsecured debt repayments....... 172\
Amount left after debt repayments....... 838\
\
Personal Balance Sheet Summary\
Total assets (things you own)........... 0\
Total HP & Secured debt................. -3,500\
Total Unsecured debt.................... -3,294\
Net Assets.............................. -6,794\
\
Created using the SOA calculator at https://www.stoozing.com. \
Reproduced on Moneysavingexpert with permission, using other browser.}

I've put a few suggestions on the missing items, i would suggest keep a spending diary and see where every penny goes, then try to redo your soa based on what you would like to achieve....... then hopefully you will meet in the middle.

You also need to look at why the spending, what triggers these spends, is it boredam, frustration? xx

fkelanne

positive start of the day, got a second hand sofa for £100. So I can send the one I've got from bright house... Saving £88 per month. Also my mam is giving me a fridge freezer on Friday. As she's got one from a friend for me. So just need to find a washer to save a its £132 a month.
I'm feeling positive. Think I'm going to sort my and kids clothes out(we have far to much) and sell some.