New Life, New Diary

philhbug

So a quick check has shown my savings generate just under £20 interest a month and my mortgage (if I did it right) is around £120 interest a month.

Given my mortgage is about 5 times the size of savings I don't think that's too painful.

Unfortunately 2 of the savings accounts are old and clinging too good rates (1.8% and 2%) and they are due to be transferred to a rubbish one soon (1.3%). Bit of ISA shopping needed.

philhbug

So having just been through my expenses for the 6 months May-Oct, I've spent £1,000 more than my income. That can't be good.

The biggest expense has been over 2k on refitting the bathroom so I suppose you can say that's kind of overpaying as it's increasing the house value (am I clutching at straws?!)

There's also the deposit on the engagement ring, so maybe it's not so bad.

£1800 on groceries seems a lot, even though some of that is covered by money from my OH.

philhbug

Just put the meter readings in for the latest bills, got £15 credit on the electric and £145 on the gas, undecided whether to get that back off them, or leave it there to use up over the winter and get back what's left in the summer.

At least they won't be putting up either of my DDs.

philhbug

So, petrol and food shopping this evening, petrol is what it is, I have to get to work, but I do go to A$da which seem to be the cheapest around, and is on my way to A1di for the shopping so convenient.

Shop was just shy of £60 which is for a week, that would have been normal a few months ago at A$da but is more than the £40 or so it has been since we switched.

I'll have to get similar stuff up in an online comparison to see how it would have come out. The bags felt heavier than normal so maybe we just bought more this week, or at least heavier stuff!

philhbug

Last night I managed to re-arrange the 10 things plugged in behind my TV into things that must always be on and things that only have to be on in use.

Router, hard disk, phone, stereo and sky box are always on. TV, Wii, DVD,Computer, printer are normally off and my electric meter tells me I'll save 20W per hour of switching it off rather than standby, this should be 15kW over the course of a month or around £2. Not much I know, but it's just under 10% of our electric bill.

JimLad

philhbug wrote: »

Last night I managed to re-arrange the 10 things plugged in behind my TV into things that must always be on and things that only have to be on in use.

Router, hard disk, phone, stereo and sky box are always on. TV, Wii, DVD,Computer, printer are normally off and my electric meter tells me I'll save 20W per hour of switching it off rather than standby, this should be 15kW over the course of a month or around £2. Not much I know, but it's just under 10% of our electric bill.

Thats really good!

Blimey I might do the same...

newgirly

Hi Philhbug, just wanted to say welcome and best of luck with the new diary

Andrewboom

Welcome. I really must start using my smart meter. Might then be able to convince my 5 year old to stop switching on every light in the house. !

philhbug

Thanks Newgirly.

It's not a full blown smart meter, just one of those things that plug into the socket to tell you what you're using.

NSD yesterday and I suspect will be again today, coupled with the fact I'm doing a day overtime makes it a good day money wise

philhbug

Well having found out about the MMM blog on another diary I have read a few of them and it seems that the suggestion of spending ~25% of your after tax income is a good plan.

I don't know if this is supposed to include mortgage payments or not, I'll presume it is for now.

According to my spending (which includes certain things for OH as well (bills groceries)) we have spent £21,000, plus ~£8,000 transfers to the mortgage/student loan. Add in about £2,400 for OH petrol, plus say £1,000 for other things she buys for herself (I tend to buy all the house/garden/etc things) comes to £32,400 :eek::eek::eek:

Our joint after tax income is around £40k so we're well in the black, but that's 81% spending. Must do better!

I reckon a few of those expenses can be removed though. I spent £2,100 on the bathroom, which isn't a living cost. And £600 was me buying a telescope which we got money from family for as a present.

I think everything else is legitimate spending so £29,700 = 74% :T:T Now to find where I can trim! I'll aim for 50% as mortgage and student loan transfers + interest are £9.5k which is 25% already so £9,700 to save :rotfl: