Could I cut down on anything?

GTR_King

I hope this is in the right place... Please move if not...

I live at home with my mum.

Just wondering if I could cut down on any thing... Or use what's left to save more

Monthly income (Before Tax)..... £1,484.46
Monthly Income (After Tax)..... £1,484.46

Number of people in house 2 (Sometimes 3 brother at uni)
Number of cars 2 (Share car with mum other one mum uses more)

Expenditure each month

Rent..... £250
Car insurance..... £100
Mobile phone.... £43
Petrol..... £50 (Somtimes less)
Satilite/Cable..... £33 (I wanted sky sports & pay for it myself)
TSB 5% Saver...... £250
Entertainment/Clothes..... £100/£200
Football Season ticket £29 (About that price each month)
Credit card £100

Monthly expenditure...... £1055
Money left each month.... £429.46

Debit £0
Loans £0

Pixie5740

It would be useful to fill in a full statement of affairs as there will be other non monthly expenses that you might not have mentioned in your OP.

http://www.stoozing.com/calculator/soa.php

From what you have posted though £100 a month or £1200 a year for car insurance is really high.

£43 for a mobile is also high. That could be at least 50% less easily possibly £10 to £12 a month.

I got rid of Sky because I felt it was a massive waste of money and £33 is quite a lot but might be value for money if you watch a lot of sport.

If you have no debt what is the £100 a month for a credit card for?

DomRavioli

£200 on clothes a month on your income is a lot. Is there a reason why you need to spend that much? That's £2400 in a year, and could quite easily be cut to very little.

GTR_King

I spend £100 a month on CC to boost my credit score

Car insurance is £75 a month (Will go down next Jan)

I always watch sky sports for the football/F1

£43 dose seem allot but wanted IPhone 6

Entertainment is sometimes allot less (Depends how many PS4 games/Films are out) some months it £100 or less

missbiggles1

Why is your income the same before and after tax?

Tigsteroonie

GTR_King wrote: »

Entertainment is sometimes allot less (Depends how many PS4 games/Films are out) some months it £100 or less

Well there's something you can easily and quickly cut down ... presuming that you actually want to cut down, of course.

GwylimT

You can easily cut down phone, sky and clothes/socialising. If you want a new game wait until you can afford it rather than over spending.

GTR_King

I do look to get my PS4 Games/Films cheaper & sell my old ones etc...

Could I do anything with what's left over.

I don't pay tax as get DLA Working tax credits & money from work

Pixie5740

GTR_King wrote: »

I spend £100 a month on CC to boost my credit score

Car insurance is £75 a month (Will go down next Jan)

I always watch sky sports for the football/F1

£43 dose seem allot but wanted IPhone 6

Entertainment is sometimes allot less (Depends how many PS4 games/Films are out) some months it £100 or less

What do you spend the £100 on each month? Something not accounted for in your list of expenditure or are you double accounting for it?

£75 a month on car insurance is still quite a lot. Shop around and try to get cash back using Quidco or Top Cashback.

As already mentioned there are a number of things you could cut down on if you wanted to. Do you have a particular savings goal in mind? It would be easier to motivate yourself if you knew what you were saving for.

GTR_King

Yeah i am saving £250 each month to TSB 5% Saver

£100 covers entertainment e.g ps4 games etc...

Car insurance is with direct line mum is with them....

I have cut down on eating out & trying to go out less or not spend as much etc

Pixie5740

GTR_King wrote: »

Yeah i am saving £250 each month to TSB 5% Saver

Yes but why? Are you saving up to buy your own place? A new car? To go travelling? What is the end goal for your saving?

You've been given a few suggestions on things to cut down on but you don't seem to want to cut down on anything which isn't necessarily an issue since you have a surplus each month. It might be a different story when you fly the next though.