Just need to unload this

EssexHebridean

OK that clarifies things on the £70 then.

I take it there's no cheaper, practical public transport route for your commute? Always worth checking, although it's not greatly likely.

It might be worth re-doing your SOA now with the extra odds and ends we've tracked down, and also to allow for the new energy DD as that makes a fair difference doesn't it.

starship15

My folks have more than enough money so maybe that's why I don't feel guilty. They're both pensioners and with their pensions earn more than the both of us combined have no mortgage and very minimal outgoings. If they couldn't help, they wouldn't and if they were going without I wouldn't take anything from them.

The wheel at the scrapyard was a fairly new one so the tyre was fine and it was a straight swap, it was out neighbor who was a mechanic and came and helped us switch to our space saver that recommended a scrap yard I was ready to spend £xx on a new wheel and tyre!

I see that you're right though the things I pay outright for I haven't included as I just pay them when they're due.

I've got an extra savings account so that seems like a good idea to move a portion each month - although in my head it would make more sense to pay off debt with it rather than save it and then at the time it's due just cut down on grocery shopping for that month.

starship15

No, other transport, the train is just as expensive and I drop and pick off my husband at work every day and he def can't get to where he is without transport.

I'm looking at getting a new job for more money (I should be on about £10k more) but will either have to stay somewhere on the route for him or fork out for a cheap 2nd car but that will increase outgoings.

EssexHebridean

Be VERY careful buying second hand tyres - not knowing the history of the tyre you're driving on can really cause issues - I learned this some years ago from personal experience and trust me, a tyre blowing a big hole in the sidewall at 70mph is NOT fun. Turned out to be due to side wall damage that wasn't visible from the outside - lesson learned, mercifully with no more than a fright to me and my passenger - and that was the last part worn tyre I ever bought! (When my mechanic looked at the inside of the blown tyre after the event he found three more spots where it had clearly been bashed into kerbs or something, but again, no sign from the outside.) :eek:

I hear you about it "feeling as though" it makes more sense to pay off debt rather than saving for stuff monthly, but no, in this instance, that's not a good plan. we none of us know what will happen, and it's generally better to have money set aside for bills that we're going to have to pay.

If it helps - we put aside £77.50 per month, per car - that covers tax, insurance, MOT, servicing, and most of the depreciative costs (wiper blades, tyres, screenwash, oil and that sort of thing, plus the odd unexpected repairs for stuff) - our tax and insurance is lower than yours though (£30 tax & £210 insurance in my case) so you'd need to adjust that figure a bit. For the time being you might find it easier to just continue paying the insurance monthly, albeit that's costing you most across the year of course.

We had to take the view that a cheap-ish runaround for MrEH was the way forward a few years ago - daft, but public transport with us is shocking, and it worked out cheaper to do that...his 2k C3 paid for itself on travel savings inside 18 months! :eek:

The extra savings accounts as offshoots from your current account can work brilliantly to keep money set aside for certain things - Nationwide let us open as many as we like so we save for just about all our annual costs that way! Saves all sorts of muddles we'd probably get into otherwise!

FBaby

You soa seem realistic to stick too, but have you worked out what it is that you'll be given up to explain how you'll start being left with money to pay your debts?

Are you sure you never take the children out, never pay for extra clothes for them, treats, things they need only occasionally, but mounts up? Do you really spend only £10 on clothing/shoes a month? What about cosmetics, beauty products, the occasional going out with friends etc...

When I try to understand why I was spending more than my budget, I realised it was the occasional spend that tricked me, things that I didn't think about because it was for something I only paid for once a year, or twice, but there were quite a few of them for instance for one month, new swimming goggles and swimming suit for DD, a week-end school trip for DS, three colleagues birthdays/leaving contribution + one lunch to say good bye, repairs for my glasses, over the counter medicine for an infection, a new gardening tool etc... , all things that I didn't think of when doing my soa.

starship15

Am on phone again so forgive as before please!

We only see my stepson every other weekend

I don't buy clothes or beauty products because I'm in debt and can't justify spending money on something that would be a monthly payment to a credit card. I'm training as an MUA so have all the make up I need and essentials for my course were my Xmas presents.

The £10 is my OH will buy something, or I'll buy stepson something occasionally from Primark.

EssexHebridean

FBaby wrote: »

You soa seem realistic to stick too, but have you worked out what it is that you'll be given up to explain how you'll start being left with money to pay your debts?

Are you sure you never take the children out, never pay for extra clothes for them, treats, things they need only occasionally, but mounts up? Do you really spend only £10 on clothing/shoes a month? What about cosmetics, beauty products, the occasional going out with friends etc...

When I try to understand why I was spending more than my budget, I realised it was the occasional spend that tricked me, things that I didn't think about because it was for something I only paid for once a year, or twice, but there were quite a few of them for instance for one month, new swimming goggles and swimming suit for DD, a week-end school trip for DS, three colleagues birthdays/leaving contribution + one lunch to say good bye, repairs for my glasses, over the counter medicine for an infection, a new gardening tool etc... , all things that I didn't think of when doing my soa.

FBaby - not sure if you've read one post and replied to another - but the OP isn't spending more than she earns, and the child costs are accounted for in terms of everyday things in the SOA already.

On_my_way

I have no idea or any right to know how wealthy your parents are or aren't but you shouldn't count on getting inheritance. It can cost £1k per week per person should they need nursing homes later in life.

FBaby

EssexHebridean wrote: »

FBaby - not sure if you've read one post and replied to another - but the OP isn't spending more than she earns, and the child costs are accounted for in terms of everyday things in the SOA already.

OP said in post 16 I think that she doesn't have the £600 left at the end of the month that she is expecting to have, so was pointing out what it can easily go on that is not being accounted for in standard soa.

It seems to be the most common problems, people filling out these soa, thinking that they can make do, and then not understanding why they don't have the amount left at the end of the month despite sticking to it.