Help on getting back on the straight and narrow

ClaretBob

Hi,

Yeah you are right. I've probably missed something as it's not getting better, it's getting worse.

Dobbibill

ClaretBob wrote: »

Hi,

Yeah you are right. I've probably missed something as it's not getting better, it's getting worse.

This is where your spending diary will help. Go through your last 3 months statements and see if there is anything you have missed. A SOA takes a good few tweaks before it's spot on, it's a working progress.

Do you put money in different accounts/pots each month?
I find this to be a simple, yet effective way to budget.

As an example - all bills plus something off your OD, say a tenner into one account [the account with the OD on preferably]. Treat the OD as a bill.

grocery money, petrol money, entertainment.....so all spending essentially, in a different account. You can even split that into multiple accounts if you wanted.

tlc678910

Hi OP,
You have mentioned a chunk of your wages goes to childcare (£243) and that your wife also pays more childcare (as well as for her car and other bills).

How much does your wife earn and how much is the total childcare bill?

It might be more lucrative for your wife to find a new part time job that is nights, evenings or weekends if it removes the need for childcare. I used to earn £400 for working 5 hours on Friday, Saturday and Sunday evenings in a local store. Not a great wage but every penny was mine because I didn't need any childcare for those hours.

I now work overnight three nights a week (while my husband is at home with my son) and use a couple of sessions of breakfast and afterschool club so I can extend my sleep days now my son is at school.

Lots of jobs with "anti social hours" in care, retail and hospitality.

Tlc

System

Surely you need to pay car tax on both cars?