SOA - please help!! I want to start today!

HappyMJ

Forward_thinking wrote: »

Pixie - thank you - really kind of you.

Thank you for the help - I really do appreciate it. Some questions asked:

Anna - our children are 12, 9, 8, 6, 1.

I'm hesitant to say where we live but it is an hour from London and is expensive. The house we have is large (5 beds) and I agree we need to move somewhere smaller but husband says they check your credit cards too. I'm sure this was clarified by his accountant.

The £386 for child expenses refers to clubs and school dinners for two children.

An hour from London and using the NHS is impossible. You are allowed to travel a little further to get treatment. You can use any A+E department in any public hospital in the UK for emergency treatment and it's totally free at point of use. You can also pay privately for any GP anywhere in the country if you're finding it difficult to get decent appointment times at your own GP. A private GP appointment is only around £50.

Why is it so essential that you have private medical insurance? Normally only people who cannot afford to take time off for an extended period would have this such as Company Directors whose time is much more valuable working in the business and not working may lead to failure of the business and no future income at all. You wouldn't normally cover the rest of the family and only get enough coverage to cover the one person.

My partner has chronic health issues and pays just £10.40/month for unlimited prescriptions. Everything else is free. I don't know of any service yet that has been denied to her.

asparagus1968

http://www.moneysavingexpert.com/family/money-help




here is some excellent advice on getting started today

getmore4less

Forward_thinking wrote: »

matchboxfull - it varies from £6,700 to £7,000 so yes, I have rounded up.

if we assume 6 of each you are another £1800 short per year

On SOA you try to round income down expenses up or if you have accurate data averages(being aware of cashflow if the variations are large.

This way you get a worst case rather than one that is underestimating things.

Don't worry it can take a while even months to get a SOA reflecting reality yet to see one where something has not been forgotton or when the diary starts needs significant adjustment.

greensalad

Forward_thinking wrote: »

Also, we only have a few holidays left with the children being children and memories are a priority for me

As someone who didn't go on a lot of fancy holidays as a kid, but did go on some
(my Dad was wealthy but my Mum wasn't) I can tell you to date the best holiday memory I have is standing on a rock in Mevagissey, Cornwall, in the pouring rain eating a Mr Whippy.

My Dad took me to Chamonix skiing, and the south of France to a beautiful, expensive villa. None of it compares to that ice-cream in the rain.

You can still make memories for a lot less than £5000. In fact sometimes having a cheaper holiday creates more memories. Instead of all lying round the expensive pool in the resort with the kids off at kids clubs et cetera you have to muck in together. I remember a caravan trip with my cousins where a donkey ate our underwear hanging off the back of the caravan to dry. And when my cousin tripped and hurt his toenail in the grim holiday-camp showers and then it fell off and I have him 50p under his pillow from the "toenail fairy". These are some of the funniest memories we all have of our cheap and cheerful holidays together.

When you're debt free, you can save up for holidays and enjoy yourself guilt-free :beer:

asparagus1968

Meant to add, your attitude is very positive , I understand It must be overwhelming at the minute, but am impressed

Grumpelstiltskin

I think you are especially with the children you are still trying to keep up with the Jones.


You are not doing the children any favours by living above your means, forget expensive parties and present they are not essential.


The 2 eldest are old enough to understand finance they need to know you can't afford everything they might wasn't.......want not need,

Forward_thinking

Thanks Asparagus - was just having one final look before the dreaded school runs in the rain. Now I can go out with a really nice comment in my mind. Thanks to you. Thanks everyone. This forum is great.

getmore4less

Forward_thinking wrote: »

Pixie - thank you - really kind of you.

Thank you for the help - I really do appreciate it. Some questions asked:

Anna - our children are 12, 9, 8, 6, 1.

I'm hesitant to say where we live but it is an hour from London and is expensive. The house we have is large (5 beds) and I agree we need to move somewhere smaller but husband says they check your credit cards too. I'm sure this was clarified by his accountant.

The £386 for child expenses refers to clubs and school dinners for two children.

Could drop a bedroom maybe 2.

no need to say where but why do you live there work/commute could you live elswhere?

Talk to a letting agent not the accountant

My area 1hr by train and car a modern(=compact/economical)5 bed rents for around £1500pm and that will get you the pick of the 4beds in town and in the surrounding villages(some quite big)

There is a fairly tasty larger place near the station for £2k if you need that access.

Even if you don't fix the accomodation now you could have the CC situation fixed with adjustments and move in 6-12 months.
(is there any thing lurking on your credit file missed payments CCJ etc)

anna_1977

Hi, I don't think you have to have no holiday, just not spent £5k on one a that you can ill afford.
It's so hard when you write it all down and face the reality but like you said, better kids have a roof over their head.

getmore4less

On the food and party front, how much do you throw away?

One of the easiest fixes is reduce waste.