got to stop spending

mummyworries12

Possibly a little out of place on this board as we are not (apart from credit card payments for a car, more on that below) in debt. However, in my 20's I was massively in debt and had no clue about money. It makes me wince every time I think of all the stupid things I did and all the money I wasted. I had no clue what an interest rate was, saw credit and store cards as free money - you get the picture!! Now the focus is more on saving for the future/retirement/to do something else other than our boring jobs, so feel a diary is necessary.

About me: 40 - live with my DH &1 DC (almost 1). Have a house (with a mortgage obvs) & a buy to let maisonette which is rented out and will be paid off in 2028. We both work in finance (I work 4 days, DH works FT) and are both bored out of our brains. However, the money is good and my job in particular allows me great flexibility for our DC. We would like another DC but not sure, given my age, we will be lucky enough and have decided we do not wish to go down the IVF route if we're not.

We have 8700 on credit card which was a new (well, second hand) car - we put it on card as have 0% until end next year so are just paying that down monthly - we do have the savings to pay it off if required hence I don't really view it as debt.

Our major spends (other than usuals such as mortgage, utilities etc) is food (both groceries and eating out) and holidays. We are real foodies and spend a ridiculous amount on cooking from scratch though DH does have a massive veggie patch/polytunnel so most of our veg is home grown which does save a fair bit. We also love eating out and spend a lot on that. I'd say we eat out once a week, either lunch or dinner.

Lately, spending has become stupid. This weekend we had to buy new car seats and bases as DC has pretty much outgrown their current car seat. A base and a seat for each car set us back around £500 though will last until he's 4. Needed also for MIL car (as she looks after DC when we are at work) but luckily DH sister donated hers. I wouldn't do second hand other than from family as you never know history of seat hence we bought new for our cars.

But spending generally = ridiculous and has to stop hence diary. I need to be accountable.

I worry ALL the time about money - probably because I was in so much debt in my 20's (think credit cards, store cards, maxed out overdraft,consolidation loan after consolidation loan) and I am so so aware of how easy it would be to get back into that. Especially because these days with social media and all (which hadn't really taken off when I was in my 20's!) it can be easy to think you have to keep up with the Jones's. Really, I have to stop myself trying to do that and trying to spend more than we should/can afford.

Sorry, a bit of a waffly first post as I don't really know what to put

mummyworries12

DH came home for lunch to help with DC as I am WFH on Mondays, which is quite hard. He had made some pesto from scratch yesterday using basil and garlic from garden so we had that on some store cupboard pasta for lunch. For dinner I am making a sort of spicy minced beef stuffed into butternut squash and cooked in the oven but DH bought a massive squash at lunchtime so we only need half the squash, then I can use the rest to make some sort of pasta sauce for the baby which can be frozen in portions.

I do try and meal plan but sometimes it doesn't work too well as DH eats everything in sight/uses things which I had earmarked for a particular meal, then we end up in the shops again, which I want to avoid as that's when we end up spending.

Hoping this week will be fairly frugal generally - in all week apart from Fri night when out with some friends. However, we have got a builder coming round tomorrow as we have an issue with some water coming in through a wall - hoping that won't be too expensive a quote. House was built 15 years ago so of course it's getting to the point now where things are "going" and we are having to replace them (we've only had it 2 years).

Does anyone find that DC cost a bomb also?? Always seem to need something!

beanielou

Happy shiny new diary

mummyworries12

Managed to sell a few items I haven't used in years on a local FB page so pocketed £25. £5 of that will go to pay down our joint cc'd bill as the item sold for £5 was a jointly bought item, the other £20 was for stuff which was mine (pre-meeting DH) so I will pop that into my savings account. To all intents and purposes our finances are joint, but we do have our separate accounts apart from the mortgage and bills account which are split equally. All our spending (i.e. groceries, meals out, house stuff etc) goes on a joint credit card (with which we get points) which then gets split equally at the end of the month (and paid off in full).

Going to see what else I can hoof off at the weekend - absolutely loads of stuff I no longer use, though find clothes are quite hard to shift. Still, will give it a try.

Managed to resist buying a coffee on way into work this morning even though I really really wanted one! £2.65 saved!

Going to have a bash at reclaiming mis-sold PPI tomorrow - have got all the info I need (at least for hsbc, need to track down the store cards providers I had) so just need to make the actual claim now.

Stonemason has come out much more expensive than we thought - nearly £800. So going to have to have a think about that. Also a problem with the window at my BTL maisonette so need to get someone out to look at that/quote for repair.

Does constantly feel like money just going out all the time!

Also mis-calculated the credit card as we've had a lot of expenses recently and I'm somehow missing £600 which I just can't work out - so that will have to be split between us next month annoyingly. Means will have to be pretty frugal next month really.

mummyworries12

Had night out last night which was £60. Really not what I needed but it was with NCT mums and I do really need some friends with kids my age so I am guessing it was a sort of investment?!

Am really going to go over budget this month as we are going to have to take cat to vets this morning. He came in yesterday having looked like he'd been in a fight but wouldn't let me check him over. DH managed to get hold of him last night and he had a bloody nose. The nose seems ok this morning but he isn't even eating Dreamies which tells me something is wrong. So god knows how much that will be. We are insured but £100 excess then we have to pay 20 percent of any claim due to his age.

Did grocery shopping yesterday after meal planning for the week though there are still a few things we need to get. Going to make the baby a bunch of meals today and freeze them all which is so much cheaper (and better) than the pouches. However, he has pouches 3 x a week as he goes to my MIL when I'm in the office so it's just easier for her/us to pack him off with one of those each day.

Get paid thursday so is a new month's budget and thank god I'll be able to draw a line under this month's as am going to have to already effectively take money from next month's pay for this month which means saving less. But I am hoping this next month can be a lot more frugal - I really am going to try hard.

mummyworries12

Not been on here for ages but back as really need to make self accountable again. Have made decision to sell my BTL property as there is just so much which goes wrong all the time and it is a massive hassle. I am hoping for a decent chunk out of it (as have had it since 2003) but as it was also always my "pension" it sort of scares me to be getting rid of it. And obviously means I will lose the income from it from 2028. But it is just so much hassle all the time, and is in the back of my mind all the time, that I do just think it would be better to sell it.

Means some upfront costs are being incurred and also my tenants don't want to stay on on a rolling basis so could find things very tight in the new year if have to pay mortgage/standing charges/council tax myself. It's a difficult call but I think it's the right one.

If it doesn't sell, DH and I may have to take a week off and go decorate it/get it re-carpeted etc to re-let it as could get more rent than getting now but those tenants been in for a number of years and are good tenants so took view better to have them and get less rent.

DH is out tonight for a works curry and I've just done the grocery shopping. Still need to get minute steak but shop was 88. We always seem to spend around 90 a week, not including toiletries or nappies - seems expensive - that is making meals from scratch (healthy ones this week) and sandwiches for work lunches. Also to feed DC. But I did get a ready meal for myself for tonight given DH out and also stocked up on fish fingers for DC as they were on offer at half price. Also bought my mum some chocolate for xmas as it was G&B's on offer 2 for three quid.

DC currently napping so will give him lunch when he wakes and then possibly local garden centre this afternoon to look at (and try not to buy!) the christmas stuff as it is raining on and off here.

Tomorrow night we are out with friends for dinner and drinks and DC staying at MIL's so expect will be fairly pricey with taxi home also.

Our tumble dryer stopped working last week but thankfully we only bought it in Jan so it's still under warranty and they are coming to fix it on Monday. Def need one of those with DC!!!!!

Gah, my post is really boring but life is pretty dull at the moment. Just dreading the expense of xmas really (we are hosting my parents this year so paying for everything as they normally host us) and then DH's parents also coming on boxing day so more expense! (though probs going to use as many leftovers as can). My parents here for 5.5 days so will need to prep lots of cheap meals the other times! And don't get me started on the booze - they can both drink!

I think if my tenants said they'd stay on I'd be less worried but I am really panicking about that - if they don't and I've got to foot all the bills without the rent, I can do it but it will be tight.

mummyworries12

So, garden centre wasn't too disastrous - just under £26 as bought some christmas decorations. Almost spent another £40 on a stand up snowman for the hall but had a moment of clarity at the till and put it back! Avoided the coffee and cake also. And entertained DC for an hour.

Enjoyed my ready meal and some red wine whilst DH out last night - and also a salted caramel and macadamia nut ice cream I had hidden from DH (he literally eats everything in sight!). Started watching that "Unbelievable" on Netflix which thought was amazing.

Today we are not up to much until tonight. Weather is not good here so we may not venture out much, so will be case of entertaining DC and housework I think

mummyworries12

Have £147 left to last until next Weds (when get paid) which seems quite a lot but our food shopping can generally be pricey and we need bigger items this week too like loo roll, kitchen roll and washing powder. However, we are not out this weekend as we were away the weekend just gone and are away next weekend.

Still heard nothing from tenants despite chasing. I think they will struggle to find something else in the area for as reasonable a price so hoping that once they start looking they'll realise that. Have had 4 viewings so far but no offers. Just wish it would sell as hate it!

mummyworries12

have got about £20 left now to last today and tomorrow so as long as hubby doesn't put any petrol in the cars I should be good. £10 of that needs to go to secret santa really, though I can do that from next month's pay if necessary.

I really do have to be frugal next month. We are away from Thurs evening until Sunday evening but accommodation already paid for and we have vouchers as wedding present for most of our meals. So will just be petrol and the odd meal we haven't vouchers for to pay for and those should come out of my holiday account.

Got to get all christmas presents sorted out of this month's pay too though. Niece and nephew are sorted from last month's pay and have been picking up my parents bits here and there in the weekly shops, so just got to do our little boy, parents in law, and hubster and a few more bits for my parents.

Bloomin' insurance will be due on my BTL at end Dec and am really hoping the tenants say they want to stay on on a rolling basis, or at least until end Jan so that the costs are covered for a bit longer as it doesn't seem to be attracting all that much interest. I've made it clear to estate agent that am open to offers as the government remove some of the tax reliefs at the end of this tax year so am of course factoring that in to any offer which might be forthcoming, and the fact that if it doesn't sell, hubby and I will have to spend a fair whack on it (roof, new boiler, new bathroom, re-decorate/carpet etc) to make it fit for re-letting. Windows and frames also need attention so think we are probably looking at around 15k it needs spending on it, if not more. Which I don't really have (esp if it's not let!) so am also factoring that in.

From the new year I really am going to make more of an effort to cook very frugally for us to try to save on food shop as that is biggest family spend. We don't go out as much these days due to the little one so it really is the food shop which is the biggest outlay!