Newly Separated

Breo

baggybreeches wrote: »

Hiya, sorry you are having a tough time but you sound like you are doing well and sticking to a plan so I wish you and LO the very best of luck. Definitely get on to the TV subscription straight away, try doing this through an online chat or an email conversation with them, they seem to be the most helpful customer service people. Also your water bill is very high (probably because your house is a 4 bed house) get a water meter fitted asap (it will probably pay your monthly car payment with the saving). Lastly if your car is reliable and safe then I wouldn't rush to swap it for a cheaper one, a good reliable car is a necessity and I would rather pay a fixed amount monthly for the peace of mind that it was roadworthy than buy a cheap runaround which could spring a £££££ bill unexpectedly.

Thanks - just found out I was in an 'offer period' for my TV and internet package, so now I need to know how many months contract I have left, and how much it will go up to. Need to make a call, but may save it for tomorrow as I don't want to get upset. Or email as you suggest.

I agree on the car. I think it would be one change too many at the moment as well.

Thanks for the advice on the water meter. looking into that now :-)

Breo

Another update - I've used my savings to pay off some of my credit card which was not in a 0% deal. This should save about £20 a month interest I hope. I've put another £200 aside in my savings account for small emergencies, (as I won't have to pay the nursery fees in full this month, only half). The other bit of extra cash this month will go to stocking up my store cupboard/things LO needs for nursery such as spare waterproofs, wellies, new clothes and shoes etc.

I've done an online water meter assessment and it suggests I would only get my bill down to about £50 a month - although I was cautious and said I have a shower everyday/use dishwasher everyday. It does say I have 2 years to change my mind, but will have to think on this some more I think.

Breo

Changed my gas and electric supplier from 1st Dec. Estimated new DD (based on historic usage) now added in, but hoping that reducing use will take it down even further. With the money "generated" I've tried to add in some of the missing bits and pieces like an emergency fund and nappies!

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2817
Partners monthly income after tax....... 0
Benefits................................ 82.8
Other income............................ 0
Total monthly income.................... 2899.8

Monthly Expense Details
Mortgage................................ 756
Secured/HP loan repayments.............. 47.629999999999995
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 121.5
Electricity............................. 72
Gas..................................... 0
Oil..................................... 0
Water rates............................. 63
Telephone (land line)................... 0
Mobile phone............................ 14
TV Licence.............................. 12.54
Satellite/Cable TV...................... 90
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 12.68
Car Insurance........................... 34.38
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 874
Other child related expenses............ 30
Medical (prescriptions, dentist etc).... 26
Pet insurance/vet bills................. 0
Buildings insurance..................... 11
Contents insurance...................... 0
Life assurance ......................... 50.37
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20
Professional Union...................... 26.05
Total monthly expenses.................. 2531.15


Assets
Cash.................................... 250
House value (Gross)..................... 220000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 225250


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 160000...(756)......0
Hire Purchase (HP) debt ...... 1238.95..(47.63)....0
Total secured & HP debts...... 161238.9.-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Car Loan.......................3242......216.1.....4.9
Credit Card Debt...............10106.5...102.......0
Total unsecured debts..........13348.5...318.1.....-


Monthly Budget Summary
Total monthly income.................... 2,899.8
Expenses (including HP & secured debts). 2,531.15
Available for debt repayments........... 368.65
Monthly UNsecured debt repayments....... 318.1
Amount left after debt repayments....... 50.55

Personal Balance Sheet Summary
Total assets (things you own)........... 225,250
Total HP & Secured debt................. -161,238.95
Total Unsecured debt.................... -13,348.5
Net Assets.............................. 50,662.55

DebtFreeDuo

Even if a water meter only saves you £13 per month, thats still £156 per year and you could get that down if you are a little more aware that you are charged for your actual usage.

Well done on what you have achieved so far, you are doing a brilliant job of bringing down your outgoings.

kindofagilr

Breo wrote: »

More excitement! Just had an email confirming the nursery take Tax Free Childcare, so with the full calculation done I now can afford my outgoings :-)

Amount left after debt repayments....... 40.38

Yay that's excellent news well done xx

pennypusher

Hi, have you thought about your Satellite/TV cost of £90 per month. You could reduce this and get freeview. I's nice to have satellite but not essential. You've also go a 4 bedroom house, how about asking around at work to see if anyone wants to rent a room from you - that would help a lot.

Breo

pennypusher wrote: »

Hi, have you thought about your Satellite/TV cost of £90 per month. You could reduce this and get freeview. I's nice to have satellite but not essential. You've also go a 4 bedroom house, how about asking around at work to see if anyone wants to rent a room from you - that would help a lot.

Thanks - yes going to look at the TV cost in a couple of weeks when out of contract and should be able to reduce a little. I have to keep the internet and phone line for work, but will probably have to loose the TV aspects.

Lodger not an option for me at the moment. Longer term going to look to downsize to a smaller house closer to work/schools.

Thanks for the support, B

pennystretcher

Regarding the union fee - is the union you are in recognised in your workplace? (i.e. do they do your pay negotiations, consult on changes on terms and conditions etc?) If not, shop around as unions tend to offer same things, e.g. PCS has legal helpline etc and their monthly fee is capped somewhere around £13.75 per month..and I think they have a reduced fee where they are not a recognised union in the workplace (last I checked it was something like £6.50 per month and you still got access to the legal helplines etc.)


And if you already don't have LED lightbulbs, try them out, much cheaper in the long run (although a tad expensive to buy)...

cms-help

Breo wrote: »

I've done an online water meter assessment and it suggests I would only get my bill down to about £50 a month - although I was cautious and said I have a shower everyday/use dishwasher everyday. It does say I have 2 years to change my mind, but will have to think on this some more I think.

We have a water meter. 4 bedroomed house, 2 adults who shower every day, 2 children who bath every day, dishwasher on most days, washing machine on most days and on a meter, our water is £40 a month. Before children the bill was £19 a month. Hope that helps.

Even if you do save £10 or £20 a month, every little helps right? It all adds up.

You don't need satellite just for the KIDS TV - there is plenty of kids tv on freeview. Plus if your child is out at childcare all day, there's surely not a lot of time for TV? So there's another £90 saved.

Breo

cms-help wrote: »

We have a water meter. 4 bedroomed house, 2 adults who shower every day, 2 children who bath every day, dishwasher on most days, washing machine on most days and on a meter, our water is £40 a month. Before children the bill was £19 a month. Hope that helps.

Even if you do save £10 or £20 a month, every little helps right? It all adds up.

You don't need satellite just for the KIDS TV - there is plenty of kids tv on freeview. Plus if your child is out at childcare all day, there's surely not a lot of time for TV? So there's another £90 saved.

Completely agree about there not being much time for TV (hopefully very very little as I am not a kids in front of the TV fan at all). Actually my mum pointed out how daft I was being in that respect as I only let her watch disney movies and noddy. So she is going to buy all the DVDS as a christmas present!:rotfl: