Household budget and bills

thesurveyor

Hi guys,

I'm after some advise in regards to bill and household budgets.

Currently I live with my partner in a flat which has the electricity, water and gas included in the rental charge.

I've recently had an offer accepted on our first home and I'm trying to plan our budget in advance so we know where we are with our monthly budget.

The house is a 3 bed and we both work full time so we won't be in it 24/7.

So far I can think of the following household bills:

* Mortgage
* water
* Internet
* insurance (building & contents)
* council tax
* food
* Tv license
* Gas
* electricity
* Critical illness and income protection


Can anybody advise what we are missing and what you think the cost per month will be?

Thank you in advance 😀

anamenottaken

thesurveyor wrote: »

Hi guys,

I'm after some advise in regards to bill and household budgets.

Currently I live with my partner in a flat which has the electricity, water and gas included in the rental charge.

I've recently had an offer accepted on our first home and I'm trying to plan our budget in advance so we know where we are with our monthly budget.

The house is a 3 bed and we both work full time so we won't be in it 24/7.

So far I can think of the following household bills:

* Mortgage
* water - What's the rateable value? Presumably on particulars from the estate agent/seller.
* Internet
* insurance (building & contents) Some advise taking out building insurance as soon as you exchange rather than on completion. It may be cheaper to pay annually.
* council tax
* food
* Tv license - Do you pay this monthly at the moment? You can transfer to new property of course. It may be cheaper to pay annually.
* Gas
* electricity
* Critical illness and income protection


Can anybody advise what we are missing and what you think the cost per month will be?

Some people would have subscription to Sky (other TV service providers are available!) but maybe you've included that in "internet".

Cleaning/laundry? Maybe you've included in "food" as a general category for supermarket shopping.

As it's a house, anything for the garden? Bedding plants, fertiliser?

Setting aside a fund for repairs?

Ground rent if it is leasehold.



Thank you in advance ��

.....................

DCFC79

Do you need a TV license ?

Zanderman

I'd suggest budgetting for booze (i.e booze you drink at home as opposed to going out) - you may be includng that in 'food' but it is useful to separate it out from 'food' as it does help focus how much you spend.

Re the suggestion (from anamenottaken) about Sky, it's a mystery to me why anyone sees that, or any other TV subscription service, as a need (there's plenty on freeview free), but if you do need it then add it in!

[And talking of 'going out' you don't have anything at all for 'fun' stuff like that - pub, cinema, holidays. Plus, of course all the other non-household stuff like cars, fuel etc. But you say you're looking at your household bill spend, so perhaps those are not relevant. Don't forget them though! ]

datlex

Zanderman wrote: »

I'd suggest budgetting for booze (i.e booze you drink at home as opposed to going out) - you may be includng that in 'food' but it is useful to separate it out from 'food' as it does help focus how much you spend.

Re the suggestion (from anamenottaken) about Sky, it's a mystery to me why anyone sees that, or any other TV subscription service, as a need (there's plenty on freeview free), but if you do need it then add it in!

[And talking of 'going out' you don't have anything at all for 'fun' stuff like that - pub, cinema, holidays. Plus, of course all the other non-household stuff like cars, fuel etc. But you say you're looking at your household bill spend, so perhaps those are not relevant. Don't forget them though! ]

I don't think anyone was suggesting Sky et al were needs, just that if you have them you need to budget for them. There is nothing wrong with having a subscription service or three. It is about whether you can afford them. Of course Sky is not always an option in rental properties and not every property can get Virgin. Broadband speeds can effect contract television options.

eskbanker

Posters who are struggling with their finances are often directed towards the 'statement of affairs' template at http://www.stoozing.com/calculator/soa.php in order to assess where the money's going and identify options to save, etc, but there's nothing wrong with using it as a template for more proactive budgeting purposes too. Other budgeting tools are available....