Where is all my money going?

Vincygirl

EssexHebridean wrote: »

Ok let's take a look - notes in red as usual...



There is a lot on there which probably needs more explanation. If my assumption that CIMA is professional fees then has whoever it related to checked whether tax should be being claimed back on it?

Yes CIMA is a professional qualification my husband has started which we are hoping his employers will sponsor the in next year. if they do sponsor him he will be reimbursed for all payments he has made.

Are you still using the credit card? If so, stop - you have a surplus, you just need to get it properly tracked down. Similarly the Next account.

We do not use the credit card however I am hoping once I get to grips with my budgeting I will be able to clear the payments off fairly quickly

If it were me I'd start by hammering everything to the bone and also noting everything you DO spend. I bet you each withdraw some cash as routine spending money each month? Remember if so that's not shown on there so will be where some of the surplus is going.

Go over everything yourself in the cold light of day and decide what needs to change - I can immediately see over £200 of "effortless" savings that can be made - groceries and clothes mainly. Go through your cupboards, fridge and freezer and then shop for only what you actually need for the next few weeks. On the clothes front for a few months pin it to essentials only - pants and socks! Similarly haircuts - that's a hefty bill!

I have noted your points here thank you


As mentioned in the beginning because my of husbands job rent and council tax are taken from his gross salary hence it not being included in the SOA, we are also not liable for water charges. Yes I know we are very fortunate.

the £51.60 includes TV Phone and Internet with Sky.

My car is £20 tax per year which i pay in full when the time comes around. The car is fairly new so there is not much maintenance at present additionally my brother is a manager at the dealership so I don't pay when i go for servicing and MOTs

£21.02 is for my dental plan unfortunately there are no NHS dentist for 20 miles so I opted to sign up to Denplan

OH and I make sure of childcare vouchers so top up with roughly £150 each month.

As you can see from our rent we do not have a conventional landlord or housing and so with the type of insurance we need this price is average.

sottish and friendly is 10 year saving bonds that we have.

Vincygirl

meer53 wrote: »

Would your church allow you to have a break from this for a while ?

So we are not contracted into it... So we can stop or decrease it at point and the church does not actually know if I pay and how much I pay as an individual. However if I am honest with myself I believe there are other clear places I can make cut backs before I decide to make a reduction here.

zippygeorgeandben

Vincygirl wrote: »

Household Information[/b]

There are times in the week when we have to pop into the super market to get more milk and bread and yes at times we may pop into starbucks or costa for a quick treat.... Treat to my tummy but not to my pocket.

It's things like this! Seriously! Coffees, newspaper on a Saturday, ice lolly on a warm day, getting the salmon which is 50% off and £6 from £12 in M&S when you only went in for milk/bread. I'm speaking from experience here.
Today, I've spent £10 on a treat for my OH on a game for the PC. For his niece I've spent £7.98 on a birthday present. I had to go out and get milk and ended up buying a couple of £1 bags on Haribo. Why do I do it? Because it's nice little treats to enjoy the dregs of the weekend.
We don't do coffees though at all. We decided to splurge on a Nespresso machine over a year ago and we are convinced that it's about to pay for itself because we've not set foot in a coffee shop for a long time. No £3.80 coffees and cakes too!

zippygeorgeandben

Oh and I just read the replies on your thread. I admire you gifting some of your money to the church.

melanzana

That is very noble of you WRT tithes and I understand your willingness to contribute.

However, If you just lowered your contribution for six months to say 20 quid, surely that would help and you would have a clear conscience.

I honestly don't know how these things work TBH. Who benefits from the tithes you pay over? Seems like a lot of money per month to me anyway. But I am not judging at all.

sourcrates

As someone with no interest in religious matters whatsoever I fail to understand how, when you are in financial trouble, you can justify paying money to a church.

£260 a month is a ridiculous amount of money to be throwing away when you are in debt.


If you could afford it, then that's a different matter, but you can't.

Sort out a sensible budget, clear your debts, then your money is yours to do with as you wish.

enjoyyourshoes

Check out you true OD fees as they will be surprising.

You will both have to get to getter and agree priorities with some tough decisions. Many of your costs are discretionary and thus can be eliminated to throw at your astronomical costs of funding your debts.

[Deleted User]

Vincygirl wrote: »

So we are not contracted into it... So we can stop or decrease it at point and the church does not actually know if I pay and how much I pay as an individual. However if I am honest with myself I believe there are other clear places I can make cut backs before I decide to make a reduction here.

See I just dont understand this, you are adults and dont have a single asset to your name. You could end up like your husbands mother not even being able to pay for a roof over her head, do you want this for your child in years to come having to support you aswell as his / her own family?

IMO faith is not about giving money its about caring / sharing of your time and support mainly for those in need. What happens to this £200 you give every month ? How do you know it is used wisely to help others.

DCFC79

Vincygirl wrote: »

So we are not contracted into it... So we can stop or decrease it at point and the church does not actually know if I pay and how much I pay as an individual. However if I am honest with myself I believe there are other clear places I can make cut backs before I decide to make a reduction here.

If you want to get the debts paid off and gone then you really need to rethink this, yes its in the bible but would the priest (or the christian equivalent) be happy if making the donation would mean you are struggling money wise.

Ilona

BBH123 wrote: »

See I just dont understand this,

IMO faith is not about giving money its about caring / sharing of your time and support mainly for those in need. What happens to this £200 you give every month ? How do you know it is used wisely to help others.

My opinion as well. My goodness, the church is rich with land and property, yet they take money off people that can ill afford it. I see any form of religion as a form of brainwashing, (my opinion, you don't have to agree with it) I admire people who have faith, but not to the extreme of handing over money that they need for themselves.

There are other things you can donate, joining in with the community, being helpful and friendly, and giving time to fundraising.

Ilona