How do you do it!?

Tonkaaaa

Grumpelstiltskin wrote: »

£400 on Groceries and then takeaways on top of that.


You look like prime candidates for Eat Well For Less.


You must get your partner on board. She doesn't work? If so why is she spending so much on food?

The groceries are my fault, I am training for strongman and do eat quite a bit of meat, but I do indulge in quality cuts of meant where I can get the same dietary needs from cheaper cuts. I need to do a proper meal plan and stick to it whilst shopping.

Moneywhizz

You have had some good advice already and and realise that there is a lot of things in your SOA that need to be addressed. You have a reasonable good salary but are not getting the best out of your money because it is a bit haphazard and out of control. You need to set a budget for what you would like to happen to your money, i.e. do you really want to spend £400 on entertainment, would you not rather cut this back a bit and put some of it into savings so that you build up a buffer. It is about choosing what you want to do and how you want to live. No one can tell you what to spend your money on but as things are it is becoming a stressful cycle of running out of money before payday and you do have the means to make sure that does not happen.

it sounds like your partner needs a reality check too. While she is not working, she could be saving you money by meal planning, careful shopping and looking for free entertainment rather than spending money and not knowing where it goes. Maybe both of you could have a limited amount of spending money.

You need to redo your Soa and include all the things that you say goes on your credit card. If they are regular expenses they need to be accounted for in your monthly budget - e.g. decide how much you would spend on presents over the year and divide it by 12.

People think budgeting is restricting when actually it is the very opposite and gives you the freedom to choose what you want to do with your money. it also takes away unexpected expenses and gives you peace of mind, knowing that you are not going to run out of money.

Hope this post is not too long but you do seem want to change things for the better and are looking for advice to do that. Good luck with this.

moneycantbuyyouhappiness

Tonkaaaa wrote: »

The groceries are my fault, I am training for strongman and do eat quite a bit of meat, but I do indulge in quality cuts of meant where I can get the same dietary needs from cheaper cuts. I need to do a proper meal plan and stick to it whilst shopping.

If you are eating a lot of meat you need to look at Musclefood. Your partners gym is very expensive we pay £10 for ours. Check to see if there is an Xercise for less in your area, you can accrue points and get musclefood vouchers too. The key to training is consistency a proper meal plan that you stick to will help your training and your wallet. Also eggs are a fab source of protein but much cheaper per gram of protein than meat.

Tonkaaaa

dancingfairy wrote: »

P.s you don't need to give everything up and live like a monk, you need to make smarter choices and get more value for your money (rather than maybe spending unconsciously).
Df

Grumpelstiltskin wrote: »

£400 on Groceries and then takeaways on top of that.


You look like prime candidates for Eat Well For Less.


You must get your partner on board. She doesn't work? If so why is she spending so much on food?

dancingfairy wrote: »

It seems pretty obvious from your soa what the problem is income 3124, expenditure 3184 (plus all the things you've said you put on a credit card).
You can't afford 400 + on entertainment, 200+ in partners spends +a holiday +......
You only have a set amount left after paying the mortgage and essential bills so you need to decide how best to spend it. Very little on entertainment and then a nice holiday or decent monthly entertainment but a few nights in a tent. You need to decide what are the priorities for your family.
Good luck.
Df

Thank you all for your comments, it has given me a much needed kick up the rear! As you have pointed out I am obviously on a downward spiral in much need of some help, I think it best I start a debt free diary as it is pretty apparent I have little experience in living within my means.

The journey has begun!

Tonkaaaa

Smodlet

Hi Tonkaaaa, and welcome to the forum! "Rubbish" is a very pejorative term and the very fact that you are here and have got as far as posting your SoA proves that you are ready to make a change to pretty darn good, imho. You need to get your OH on side ASAP.

I agree, re-mortgaging is definitely something to think about as (subject to status, affordability, all of that) it might be possible to do appreciably better than 6% interest.

Entertainment and mobiles you have already heard about. If you have friends around once a week, why don't you or your OH (or both of you together) cook, for goodness sake? You could feed your family and your friends for a fraction of what takeaways cost. You seem to know all about nutrition so I think you realise the benefits of cooking from scratch rather than indulging in takeaways.

It is lovely that your OH has £200 per month to spend as she wishes, so long as you can afford it. Since, from what you have said, neither you nor she are particularly disciplined in your spending, it is time to sit down with pen and paper/spreadsheet/app (so long as it's free) and figure out where every single penny has gone. Once you know that, you can start to stem the tide. It is a completely new way of thinking and requires self-discipline. You are in training so you know all about one aspect of that. It is time to apply your dedication to your fitness to the fitness of your finances, methinks.

Good luck to you and your family.

Tonkaaaa

moneycantbuyyouhappiness wrote: »

If you are eating a lot of meat you need to look at Musclefood. Your partners gym is very expensive we pay £10 for ours. Check to see if there is an Xercise for less in your area, you can accrue points and get musclefood vouchers too. The key to training is consistency a proper meal plan that you stick to will help your training and your wallet. Also eggs are a fab source of protein but much cheaper per gram of protein than meat.

Thank you for the advice, I tend to use local butchers but musclefood does look like they have some good deals.

I'll get the OH scouting some cheaper gym's tonight, she never uses the pool or classes at her gym anyway.

I have a base meal plan but tend to shop and then eat what ever fits my macro split which usually ends up in wastage or over spending. I need to sit down and create a couple foods plans based on my macros and shop strictly for that instead of walking in and buying a couple of kilo of steak because I might need it this week. I am very bad at planning ahead but this is all going to change!

I drink around 10 egg whites per day and eat a fair few on training days, even though I really don't like them, but like you said a good source of protein and fats.

Tonkaaaa

Smodlet wrote: »

Hi Tonkaaaa, and welcome to the forum! "Rubbish" is a very pejorative term and the very fact that you are here and have got as far as posting your SoA proves that you are ready to make a change to pretty darn good, imho. You need to get your OH on side ASAP.

I agree, re-mortgaging is definitely something to think about as (subject to status, affordability, all of that) it might be possible to do appreciably better than 6% interest.

Entertainment and mobiles you have already heard about. If you have friends around once a week, why don't you or your OH (or both of you together) cook, for goodness sake? You could feed your family and your friends for a fraction of what takeaways cost. You seem to know all about nutrition so I think you realise the benefits of cooking from scratch rather than indulging in takeaways.

It is lovely that your OH has £200 per month to spend as she wishes, so long as you can afford it. Since, from what you have said, neither you nor she are particularly disciplined in your spending, it is time to sit down with pen and paper/spreadsheet/app (so long as it's free) and figure out where every single penny has gone. Once you know that, you can start to stem the tide. It is a completely new way of thinking and requires self-discipline. You are in training so you know all about one aspect of that. It is time to apply your dedication to your fitness to the fitness of your finances, methinks.

Good luck to you and your family.

You've hit the nail on the head with that post, just what I need to hear. Thank you.

You are more than right about the friends/takeaway situation, this is a no brainer and without blowing my own trumpet I am pretty good around the kitchen!

As you and many others have pointed out we needed to change our mindset towards money and start a fresh, we're having a sit down later to discuss a few things, hopefully it will be a new financial beginning for us.

Tonka

thegreenone

I agree re Musclefood. Do you have plenty of freezer space? Could you have a weekly delivery of fruit, veg, milk etc and freeze some arrival. This cuts down on the top up shops where you go for a pint of milk and end up spending £30. It may be slightly more initially but I can personally guarantee (insert embarrassed smiley) it saves in the long run, including petrol.


If you have the space find another freezer on freecycle or similar.


Most definitely talk to your mortgage provider, 6% is high for the current times. They may even let you reserve a lower rate product now or very soon. Give them a call today.

dcouponzzzz

http://www.musclefood.com/dairy-products/eggs/liquid-egg-white.html

33 eggs worth of egg whites for £3.70, no waste or messing round. Will shave a couple of minutes off your meal prep for starters!

Grumpelstiltskin

I'm another Musclefood fan, you need plenty of freezer space but be warned their offers can become addictive.


Oh and by the way there is nothing wrong with shopping at Waitrose or Sainsburys as long as you buy their Essential or Basics range, both have some very good products and learn to shop when there are reductions.