Reducing our expensive life

Hoolaloola

Over the last year we seem to have crept into debt. We went on a big holiday which we paid for on a credit card and haven't really managed to make much of a dent in and we seem to be getting further and further into our overdraft. We seem to lead an expensive life which we need to cut down on. We have four children who all do activities which is currently what is costing a fortune.
I want to feel like I am in control of our finances but at the moment I dont.

Debts as they stand:
CC1: £4200
CC2: £730
OD1: £800
OD2: £400

I need to get to a point where I hope we have enough in reserve to cover the costs of our everyday life but also those things that regularly crop up. I am hoping this diary will help me do that.

Hoolaloola

Day One:
Been an expensive day! I have set myself £160 pweek budget to cover food and everything else.
Today I did the weekly shop but have meal planned so other than a few top ups for milk we shouldn't need much.
Spending as follows:
Lidl: £43.00
Sainsburys: £28.00 (+£13.50 from my misc funds budget of £200 pm for school uniform)
Annual Fee for Sports Club: £29.00
Argos (birthday gift): £7.99
= £108
So £52 for the rest of the week for a family of 6. Trying for a NSD tomorrow

judi24

Just wanted to say hello! I also have 4 kids (although 1 lives away) so know what its like to have unexpected expenses flying at you from all angles- my budget for food and general expenses is similar so will be cheering you on, watching with interest and sharing notes! Good luck!

Hoolaloola

Thanks for the reply. It is very motivating to read everyone else's experiences. It is the "surprises" that keep getting me!

cakeforbrains

Morning Hoolaloola. How old are your children, roughly? What kind of expenses crop up?

I have a preschooler and at two secondary school, so just being nosey to compare notes really.

Hoolaloola

Hi COB

Our dc do a lot of activities but our eldest dc has recently got into ballet. He is 10 and has done really well and been accepted onto a few schemes (Royal Ballet School being one). He wants to go to vocational school so this is a great opportunity for him. It is not cheap though! I had a bill for £290 which I have paid but just got another for £280 which I wasn't expecting (thought you paid weekly but is biannual). Also just had to buy uniform for it at £100 and now have had a bill for the dc gym for £350 which includes annual insurance. Their club has just gone VAT registered so the bill is a lot more than previously. I am going to have to ask to split the bills over 2 months. I do budget £500 pmonth for kids activities (a lot I know) but when all the bills come in at once it creates a bit of a cash flow problem!
Last month dh and I had services and MOTs on our cars which came to £600. We have to run 2 cars as we live rurally. There is always something but my plan is to put £200-300 away for that stuff so I have the funds available. Need to get back to 0 first.

Didn't end up with a NSD as stopped in a cafe for drink after we went to local nature reserve.
Coffee\drinks and scone: £7.50. So have £44.50 left until Tuesday....

Hoolaloola

Sorry didn't answer your first question. Dc are 10, 7.9,5.2 and 2.9. Expensive little things too!

Tink2010

Good luck with your plans:T

Hoolaloola

Not been too bad today. Spending as follows:
£10.00 DD music lesson (from activities budget)
£13.00 Clothes from charity shop (oops- we have a really good one near us which sell unbranded, new high street and high end clothes which is my big weakness)
£10.15 Had to top up with fuel.
£21.35 left for the weekend. Fortunately DH is working intermittently which means we are limited in what we can do.
On a positive note I have listed a couple of pairs of kids shoes on ebay.

Hoolaloola

Well today has been a !!!! day in terms of expenses. DH had his car MOT'd. I'd budgeted for it in Miscellaneous expenses and as he only just had it serviced was prepared for £120 not £195. My ds is also doing an activity at the moment which cost £500. It was a monthly payment thing and I thought we only had one left but turns out it was two so that was another £220 cheque written. My budget is £500 per month for kids activities but I have already spent that and have just had a bill for £350 for their gymnastics and £290 for another set of fees. These are termly/biannual and annual fees so over the year £500 per month should adequately cover it but right now it's creating a bit of a cashflow problem.
Todays spend in full:
£29.00 M & S for last of kids uniform (was in my misc budget before car MOT)
£11.00 Lunch for me and dc
I now have £10 until Tuesday which actually should be fine as have no plans to do anything.