Just joined the site, need help with budgeting!

lilmisskitkat

Hello

I was recommended this site by a friend and just wanted to say Hi and ask for your tips/advice.

I'm Kate, 19 and single mum to 2yr old Leah. I'm also a part time student. We live with my parents at the moment but we're moving into a rented house on 11th Oct

I'm a bit worried about how i'm going to manage with all the bills etc. My mam has never budgeted so i haven't learnt from her lol. I'll get most of my rent paid by housing benefit so that will just leave me paying £35 a month myself. The gas and electric are on meters in the house. I'd really like some advice about cutting down on food shopping especially as my mam spends about £100 per week

Thanx

Kate xxx

Spendless

Hi,
if you scroll down on thisboard yoy'll find a thread called food shopping for a family-ish. It's quite long but full of great ideas.

System

Welcome to the boards Kate. Some sections will be more relevent to you than others but you will find out that for yourself.

Please feel free to ask questions, we all have to start somewhere and chances are we have all been down the same road as you at some point but am a little bit ahead of you.

16011996

welocme kate, and leah too!!

i recommend the food shopping thread, and the money saving old style board forlots of cheap and helpful ideas. as judi says, ask away, we will all help if we can,

160

Lucie_2

Hi Kate

You need to write out a proper written budget. Nothing flash, just a list of everything you've got coming in & all your spending commitments. Only with it written down infront of you in black & white will you be able to work out how much you need to live on. There is a fab MSE budget planner you can download, which will help you work it all out.

To help budget, take out a set amount of cash every week for your food shop. That way you have to stick to it & won't be tempted by things you don't need.

It's nice to see you're thinking about this; most 19 year olds I know would spend & spend til they run out of money, then run back home to Mum. Good for you girl!

jaybee

Welcome! You'll find loads of help here - do also try Money Saving Old Style further down the list. It's invaluable - I've learned soooo much since I've got on this site and, I think, from people lots younger than me. I promise you - it's not old fashioned ;D. Nobody laughs or critisises you. Truly friendly, caring people.

Good luck - you can do it ;D

bright_side

Hi,

I'm in the same boat (although much older )

Since I've been on my own I've always 'saved' the child benefit each month, which then pays for the childrens clothes as they need them, birthdays and christmas pressies. Plus if I do have any unexpected expenses I always have something to fall back on.

Also all my bills are paid by monthly direct debit so I know exactly how much is left for shopping each week.
Lots of Luck!!

macchicken

Living on your own is hard enough i dont know how i'd manage with a bairn.
Its a silly tip but ive found that shopping at Asda is cheaper than other supermarkets also if you can shop at Asda online this stops you buying just what u fancy!

Also dont go shopping while you are hungry you end up buying rubbish as well i know!!
good luck ;D

Jess_7477

Hi

I agree with Macchickens tip about ASDA. We have to travel a bit further to get to Asda but it is well worth the saving. Our Tesco bill for two of us came to about £50.00 a week at Asda it is usualy £30.00 for all the same stuff. I also take a list and buy stuff off the list and work out five meals for the weeknights, this stops me buying stuff I don't need.

Budgeting is hard but its worth it, write everything down and take out in cash what you have to spend for the week. Parting with cash really makes you think twice weather you need something or not! We have halved our monthy spend on "extras" in the past month and i don't think we have missed out on anything.

hilstep2000

Hi Kate,
I'm in the same boat as you, two kids and a mortgage! Budgeting is easy really. I put all my bills on Direct Debit, then when I get paid I know what has to go out and how much I've got left. I use the Personal Budget sheet that is on my Micrososft Works, it does all the calculations for you, so you don't have to be good at maths! It's very easy to use, you just have to make it relevant to you, and away you go.
As far as food shopping is concerned, try not to use processed stuff, it works out cheaper to use fresh and cook it yourself. I usually make huge batches of spaghetti bolognese or chilli and freeze it in portions, for later use. After a while you'll become an expert! (I can make one chicken breast go between the three of us just by adding pasta and sauce!)
Good luck with it all, and come back here anytime, there will always be someone to help!

Freebie_Hunter_2

Write out a shopping list and stick to it. Often the supermarkets 'basics' range of items are just as nice (if not, nicer) than brand names.

Remember that your gas and electric costs will go up in the winter and down in the summer.

For the first month or so, moniter how much gas / electric you use and keep a note. I tried to cut out my spends apart from food as I didn't know what to expect and didn't want to leave myself short of cash.

Remember you need a TV licence!

Your food bill won't be £100 unless you're extravagant!! Don't forget your Mum is probably buying for 4, not 2.


You may have to tighten your belt for the first few weeks (use this time to enjoy your new home with your daughter) just to make sure you balance your finances but once you know what you're paying out you can relax a bit more.


It can be quite a shock moving into your first home and finding all these extra expenses - so just be cautious until you find your feet and you won't end up in debt before you have started!
It's easy to forget about one bill for the sake of a night out, but it's not worth it! Once you get behind it can be difficult to catch up.