Yorkshirechick's Diary -Trying to get ourselves sorted...

Yorkshirechick

Hi,

My names Claire and I'm 26 and live with my lovely fiance Pete, and our dog and 2 cats. I'm 7 and a 1/2 months pregnant, and am starting 9 months maternity leave in 2 weeks.
We originally wanted to save 3k so that we could use this to tide us over while I'm on maternity leave, as I'm only on full pay for 14 weeks, and then it goes onto SMP. However various things have happened, and we've also been doing the house up, so as a result we now only have £300 in savings and in about 10 mins we have to go and buy a new washing machine as ours has completely died!! This will be going on a 0% credit card, as that's what they're for in my eyes - emergencies!!

Will post more details and a SOA when I get back from picking up the new washer.

Yorkshirechick

Ok so we've had to spend £220 on a new washer :mad:

On the positive side, we did get the old washer for free, and had had it for about 2 years. Pete is just plumbing the new one in now.

So our SOA is


Savings Acc +£248.08

Bills Acc -0.01 (This is the one all our DDs come out of)

Spending acc (This is for food, diesel and other day to day things) +£150.20
The £150 has already been spent on the switch card, as Pete's car needed some stuff doing to it after a service. He also needs his brakes doing, but will be doing these himself, so should save about £150.


Monthly Incomings/Outgoings

Pete's Wage £1465
My Wage £1530
Total £2995.


Outgoings

Mortgage £1170
Council Tax £98
Water £25
Diesel £120
TV Licence £12
Mobile Phone Bills £40
Landline Bill £11.50
Broadband £15
Food/Groceries £180
House Insurance £22
Pet Insurance £20.10
Life Insurance £37.45
Gas £25
Electric £25
Credit Card £100
Spends Pete £150
Spends Claire £150

Total £2201.45

Up til last month, we were paying £175 a month Car insurance, but we've paid these outright for the next year, we're going to try and put about £80 a month away into another account, so we can pay them off again next year.

Incomings - Outgoings = +£795.

I know that's an awful lot of money to be left with each month, but we've been doing up our house, and spending a lot on that. Also my wage will be dropping down to about £400 in 2 months, and then 7 months after that, it will change to about £1050 a month, and we will have to pay about £400 childcare.

SO, I need to know how we can cut back for when I'm on maternity leave, and then for when I'm on back at work but on a reduced wage.

Thanks
Claire

Oh yeah - for the 6 months I'm on £400 a month, we have taken a mortgage break, so won't have to pay it then.

yellowmonkey

Hi and welcome. Congrats on the ,soon to be, new arrival. Had a quick scan and one thing that jumps out is the £300 " spends" for you and Pete. Can you cut that right back if poss.

Good luck

ym

Yorkshirechick

yellowmonkey wrote: »

Hi and welcome. Congrats on the ,soon to be, new arrival. Had a quick scan and one thing that jumps out is the £300 " spends" for you and Pete. Can you cut that right back if poss.

Good luck

ym

Yep - we've already cut this back from £200 each, and this month we will just be getting £50 each to buy each other an Xmas presie.

When I'm on maternity leave, and then back at work, we won't be having any spends at all.

fletch3163

Hi there and congratulations on your impending happy event. Boys are by far the best to get. I have to say though that I didn't have ANY credit until I gave birth to my lovely young chap and then it all went pear-shaped.

I think by taking a "holiday" from your mortgage repayments you won't really notice you're lack of salary for a bit. It takes up nearly your entire salary! Also, you'll have to revisit that £150 each for "spends" because I reckon your groceries will rise a bit with nappies, etc. How long has your £100 to the credit card got to go?

Yorkshirechick

fletch3163 wrote: »

Hi there and congratulations on your impending happy event. Boys are by far the best to get. I have to say though that I didn't have ANY credit until I gave birth to my lovely young chap and then it all went pear-shaped.

I think by taking a "holiday" from your mortgage repayments you won't really notice you're lack of salary for a bit. It takes up nearly your entire salary! Also, you'll have to revisit that £150 each for "spends" because I reckon your groceries will rise a bit with nappies, etc. How long has your £100 to the credit card got to go?

We've got about £800 on the credit card at the mo, and will prob have to put about another £150 on it unfortunately, as had a slight mishap with the car yesterday :rotfl: and have to pay for 2 new mirrors and glass.


Also - forogt to mention we have £900 owing for a new sofa, which needs to be paid by 31st July next year.

We will both be getting a minimum of 3k in bonuses in about May though, and hopefully (depending on company's peformance) could get up to 5k. Fingers crossed!!

fletch3163

Well, for what it's worth I think you'll be fine. You're aware of your situation BEFORE it gets out of control so that's always a good sign. The only huge and scary thing is the size of your mortgage but when you both earn you can cope with it. People used to tell me that having a baby needn't cost much more but that was just rubbish!

Do you have a lot of baby stuff already? Are you part of a large circle of family and friends that will be showering you with gifts, etc?

Yorkshirechick

fletch3163 wrote: »

Well, for what it's worth I think you'll be fine. You're aware of your situation BEFORE it gets out of control so that's always a good sign. The only huge and scary thing is the size of your mortgage but when you both earn you can cope with it. People used to tell me that having a baby needn't cost much more but that was just rubbish!

Do you have a lot of baby stuff already? Are you part of a large circle of family and friends that will be showering you with gifts, etc?

I think we have most of the baby stuff now, got tons of stuff given from friends, and a lot from Freecycle too. Am hoping to b'feed, so for the first few months I don't think we'll need to spend very much on 'things' for baby, it's more the childcare costs I'm worrying about, as I'll be on a reduced wage, and then paying out about £400 extra a month too

CRANKY40

Join your local "freecycle" and get as much baby equipment from there as you can.

You won't need any spends for the first month. You won't be ready to leave the house until tea time and you'll both be too tired. Any spare time will be spent sleeping, lol. It will be both the best and most exhausting time of your life.

If it helps, I have £50 a week to spend and that covers food for two adults and a toddler, and my spends (and it did cover nappies too, with careful buying when there were offers on).

If you like reading go to the library - you'll have time to now, and your local library will usually run some mother and baby sessions too.

Yorkshirechick

Got some good news.
We thought it would be about £150 for the other fellas mirror, but he's called to say he is going to buy a mirror online and get the dealer to fit it, so it will only cost about £70.
Also, the problem with Pete's car looks like it will be covered by the warranty - fingers crossed.

The floor is in the en-suite now, and although we thought this morning that we wouldn't have enough, we did :j So we haven't had to buy anything today.

My friend who's just had a baby is coming into work to see me tomorrow, so I'll get up early to take sandwiches with me, and we won't have to spend anything tomorrow.

Yorkshirechick

Poo!!

Pete's car wasnt covered by the warranty, and we've had to pay £150 to get it fixed, and then another £180 for something else that has gone wrong.
Now to top it all off, it seems something is happening as it's making really loud clunking noises at the back! It's only 3 years old, and has been nothing but trouble since he bought it 3 months ago.

I think he's going to take it to the garage on Monday and we're going to sell it and get something else, we're both sick of it!!