SoA to avoid getting in debt

pollyanna24

On_my_way wrote: »

I was going to say is there any way you could reduce your childcare bill but as this is to your mum it is likely to be very reasonable already!

I would definitely look at tips on here on how to reduce your expenditure so that you are in the best possible situation from today.

Good luck!

Thank you. If I put my kids into after school care (although the youngest is still only in nursery until September), it would probably be cheaper as I would likely get most of my childcare back in tax credits.

But as it stands, they are always in their own house after school with their own things and they are with someone who I trust more than I trust myself with their safety, haha, and it helps my mum out, so I am happy with the situation.

pollyanna24

lilahloo wrote: »

Hi - just another thought on the subject of the pet insurance, I know with mine I have to pay an excess and then a percentage of the treatment costs. You may want to consider adding some contingency for this to your emergency fund savings.

You're doing the right thing getting your head round your finances now - good luck with it all.

Yes, this is what I discovered when I took my dog to the vet last week. £99 + 20% of fees, so she won't be getting the lump off her head when another dog bit her years and years ago. I actually took her to the vet because she was limping, but the vet pounced on the lump as soon as I walked in the door!

lilahloo

If the lump isn't bothering her/causing any health issues then I wouldn't be putting her through unnecessary surgery either, regardless of whether I had the money in the bank to pay for it.

pollyanna24

Just looked on Zoopla and it now reckons my house is only worth £287,000, not sure why it is going down when all the houses around me are going at silly prices.

I've estimated my house will be valued at around £320,000, but really have no clue. Going to get it valued once my dad has painted the kitchen.

Up till I had this idea of buying my brother out, the more my house was worth, the better (as we were originally going to sell up and go our separate ways), but now if I want to buy him out (haven't actually discussed this with him, but it is generally thought of as my house as I owned it five years before he bought into it), it will be better if it worth less!

We currently have £500 in our joint account (where all the bills go out of). This is just money that I like to have in the account and goes on groceries and if stuff breaks (and Dad painting the kitchen), so when my brother leaves, we will split this money.

pollyanna24

lilahloo wrote: »

If the lump isn't bothering her/causing any health issues then I wouldn't be putting her through unnecessary surgery either, regardless of whether I had the money in the bank to pay for it.

The vet recommended getting it removed (£1,000) as we don't know what it is (I told her a dog bit her years ago, but she said it "might have grown into something else").

But I've decided she is happy as she is. She was miserable with the limping (and staffies are generally very bouncy dogs), but she is on painkillers and is back to her old self.

Besides she is 8 years old and I don't want to put her through anything unecessary, like you say.

Tixy

Zooplas house valuation figures are known to be pretty useless. I wouldn't use that for a guide as to what your property is really worth, either for a sale or to buy out your brother.

Puzzcat

Hi,


No budget for presents? Christmas and Birthdays.. also would you be having any holidays in the future?


Just a couple of thoughts...


Puzz. x

pollyanna24

Tixy wrote: »

Zooplas house valuation figures are known to be pretty useless. I wouldn't use that for a guide as to what your property is really worth, either for a sale or to buy out your brother.

Oh no, I am definitely taking that figure with a pinch of salt. I will get an estate agent in once the kitchen has been painted (although maybe I should get them in before and hope the value is lower!).

pollyanna24

Puzzcat wrote: »

Hi,


No budget for presents? Christmas and Birthdays.. also would you be having any holidays in the future?


Just a couple of thoughts...


Puzz. x

I'm really tight with presents. Only give to very close family.

Up to now have bought Xmas presents for my girls mainly out of charity shops as at their ages, it's all about the opening of the present and not what's inside.

But I should put aside a little bit for this though. Thank you.

As for holidays, am going to Greece in September. Was hoping to have a bit in savings to pay for that. After that, no foreseeable holidays.

Ma77hew

Regards life insurance, you should look into it, I got a quote £15 pm joint policy covering £150k, I'm a smoker.

Did you check your bank accounts to get these numbers?

A question I would ask, is if you currently have £400 excess each month, where is it? Have you saved it? If not what was it spent on, could be some hidden costs or cut backs you might not realize you have to make.

As others have also said, Presents/Holidays aren't included could lead to some very tight months. Plus no contingency, for example might need new tyres on your car at some point.

Edit: just seen you responded regarding the holidays, personally I put money aside each month for them so i know we can go away at some point even if we currently have nothing booked, effectively saving for next years holiday this year.