New Member Emil's SOA

mae

Well you can look on the positive side because at least our highest interest rates are your two lowest amounts. Obvioulsy concentrate on these and throw as much money as you can at them to get them paid off asap.

As said earlier keep a spending diary re the 'spare' £700.

And try and post a break down on the £1200 as this seems high and maybe you could save more towards your debt from here?

emil_2

I will go away and look at the breakdown of the £1200 now...

emil_2

Ok,

Outgoings from the joint a/c:

Mortgage - £1,100
Life Insurance - £24.86
Home Insurance - £32.32
Water - £21.50
Sky - £38
BT - £37.15 (inc internet)
Council Tax - £120
TV Licence - £34.12 (quarterly)
Gas - c.£35
Electricity - c.£40

Total: £1,482.00

Current a/c currently running at £433 o/d with a free £500 facility.

My OH currently deposits £500 into this account in addition to mine giving us a total of £1,700 in each month against the £1,482 going out. However, we nearly always go over the o/d limit on this as we use it for household food bills etc. We've decided that we're now going to limit our food & any take aways/restaurant visits by doing the following: Each Sunday I am going to put £70 into a jar and OH will put in £30. With this £100 we will eat for the week. The following Sunday we'll either make the money back up to £100 if there is any left, or simply put the same amount in and have more to spend. What do you guys think?

Also, here is the kicker. With new baby on the way and me being a relatively high earner, I would like for OH to be able to not worry too much and have some cash to eat healthily and well while she is preggers. She is a fan of the Tesco Organic stuff which (sadly) costs a bomb. I really want her to be happy during this pregnancy as she has a family history of pregnancy problems and I just want to take care of her...

Karmacat

emil wrote: »

Ok,

Outgoings from the joint a/c:

Mortgage - £1,100
Life Insurance - £24.86
Home Insurance - £32.32
Water - £21.50
Sky - £38
BT - £37.15 (inc internet)
Council Tax - £120
TV Licence - £34.12 (quarterly)
Gas - c.£35
Electricity - c.£40

Total: £1,482.00

Current a/c currently running at £433 o/d with a free £500 facility.

My OH currently deposits £500 into this account in addition to mine giving us a total of £1,700 in each month against the £1,482 going out. However, we nearly always go over the o/d limit on this as we use it for household food bills etc. We've decided that we're now going to limit our food & any take aways/restaurant visits by doing the following: Each Sunday I am going to put £70 into a jar and OH will put in £30. With this £100 we will eat for the week. The following Sunday we'll either make the money back up to £100 if there is any left, or simply put the same amount in and have more to spend. What do you guys think?

Also, here is the kicker. With new baby on the way and me being a relatively high earner, I would like for OH to be able to not worry too much and have some cash to eat healthily and well while she is preggers. She is a fan of the Tesco Organic stuff which (sadly) costs a bomb. I really want her to be happy during this pregnancy as she has a family history of pregnancy problems and I just want to take care of her...

Awwww... :A thats very sweet. Of course you want to. Of course *she* wants to. Just a few mse comments on your post:

1. stopping going over the free overdraft limit is good practice - paying out those charges gives you nothing whatsoever.
2. if your wife is pregnant, she should be cutting down on takeaways anyway, to be honest - thats the source of a lot of additives - there aren't any organic takeaways that I know of!
3. having that money in cash probably means you shop in person rather than on the internet, is that right? So get cheap offers, 2 for 1, that kind of thing (they do it for organic, don't worry - and for all the ordinary stuff, toilet roll, bleach, whatever).
4. As far as the outgoings from the bills account are concerned, you need to check with each one that you're getting the best deal available, and (like with the overdraft) not paying unnecessary charges by being sloppy about how much you pay in, or when direct debits go out, that kind of thing. Its money being paid out that you get no return on.
5. The sky, gas and elec are all quite high: do you have a massive house with no insulation, or leave stuff running? Do you need that sky package?

I know many of these things sound piddly when you're earning good amounts like you are. But if every bill is cut by £10, you've got maybe £100 there extra, for absolutely nothing. Thats worth having, more than an extra grand a year.

I hope this helps.

emil_2

Karmacat wrote: »

5. The sky, gas and elec are all quite high: do you have a massive house with no insulation, or leave stuff running? Do you need that sky package?

Heh, that made me chuckle, my OH must have some African or Asian blood in her because she is cold even when it is 25 degrees C!

Seriously though, thanks for that. I'll have a darned good poke around with my utility suppliers and see what I can change. Also, believe me, every penny counts now with the little one on the horizon.

emil_2

edit, tried to post in a table

mae

Have you ever shopped on line? I shop at tesco on line and have it delivered. There are codes on the diso!!!!! board for £5, £10 or £15 pound (or you can use extra club point codes) off your shopping which obviously helps but I also find it works out a better shop in the way of being more organised. I place my order and then read it through see what meals I can make and see what stuff I actually don't 'really' need and also I can run to the cupboards and see what I already have.

I have saved a fortune by avoiding temptation when I am in the supermarket.
Have a loook on the old style board as I am sure you could change the £100 food money to £80 and still live luxuriously food wise for 2 of you and put the £80-£100 you would save towards more debt

I use aol broadband for £9.99 and BT is £12 per month so you could save there.

I use london energy for my gas and elec which is cheaper for me but have a look at the comparison to see which is cheapest for you.

Also like I said before always good through quidco for all you insurances and anything else you buy on the net. You can make a nice sum of money that could either go towards your debt or to buy a treat.

You won't get away with anything on here :rotfl: :rotfl: :rotfl:

You are doing really well though and you will be in control in no time
Good luck