I thought I had it so right....

zcrat41

Hello people. I've been lurking about on here a while and am amazed at some of the stuff people are doing and the support you guys give each other. I was hoping to tap into a bit of that really!! I've been picking up lots and lots of tips which is great, which resulted in me doing my first ever budget!!! (Wish I'd learnt this so much younger!) Just wondered if you guys could have a look and see if I'm on the right track. I do have one question - I've based this on a 4wk month, how do you suggest I go about doing it incorporating a 5 wk month??

I've been following this for a month or so and it seemed to be worked really really well. however, yesterday, in a fit of wild supermarket shopping with a housemate who's a VERY bad influnce. I emerged having spent £75 on nothing more than, wine, crisps, more wine, chocolate, even more wine, scrummy pudding things, rum, vodka, gin... you get the picture. The house is a mess this morning. I'd done so well and I thought if I posted on here, I might be shamed into not doing it again!!

So, SOA

Income, 1350 pcm.
debts - CC1. £130. Don't know apr.
loan 1 - £499. Repaying £100 pcm, 50 overpayment every month. Don't know apr. v low as a graduate loan though.
Student loan left - about £4000.

Rent340.00
bills120.00
phone35.00
cleaning10.00
Food152.00
Eat out44.00
coffee22.00
home drinks5.00
drinking44.00
smokes30.00
flights 8.40
car cleaning 3.00
parking 5.00
loan100.00
credit card50.00
savings100.00
dry cleaning 2.00
film3.50
cinema/bks20.00
w/e away34.00
xmas 9.00
skiing 17.00
b-days 4.17
clothes50.00
mag's9.00
dentist 3.00
hair 5.00
Total1225.07
Couple of notes - bills are shared in our house. this covers council tax, water, gas, electric etc. Any left over in the account at the end of the year we split equally.
no car expenses as have a company car. travel budget is for going home to parent via easyjet couple of times a year. I would drive but its a good 9 hrs, long way for a weekend!!!
Car cleaning, I get it valeted twice a year as I have to use it for clients and I can't seem to get it as clean as they do!!
Smokes isn't fags - I'm giving up (thanks to the demotivator here!!) and this at the moment is paying for my nicotine lozenges.

Looking at it on here I think I'm ok but I do seem to have been in a cycle for the ppast couple of years of getting a few hundred on a cc and paying it off, getting the few hundred back. I really want to save for a deposit on a flat but don't trust myself at the moment.

Thanks if you're still reading....hope I haven't bored you to death! And sorry if I'm taking up space.

ZC

PS on rereading, I don't have a drink problem!! House party last night.

Scarlett.1974

Good morning

Your SOA seems to have gone a bit ......... er.... 'squiffy' :rotfl: it's a bit difficult to read, do you think you could re-do it? You'll get much more help if it's easy to read

Scarlett xx

zcrat41

Thanks, hadn't noticed. Bit reflective of me this morning methinks!

In_Search_Of_Me

you shoud be able to get nictone replacement on prescription...

meyore

I just work out what I need to spend per week then times it by 5 and allow myself that every month. That way, on the 4 week months I have some left over for overpaying cc/loan etc. It works for me, hope that helps.

consultant31

There will be lots of people (much cleverer than me) along shortly to help you, but one thing I noticed were your drinking and eating out.......... £88 all together. This is a lot if you're saving for a house so cut down on these two things if you can.

Also £9 a month on mags - too much for the cr*p that's in them. You could find out most of it online I would think.

Clothes £50 a month :eek: , where do you store them all? It seems a lot to me (but then I'm MSE to the core, lol).

Books; couldn't you use the library they're free there!

Food bills you can almost certainly shave down using the Old Style board for ideas.

Just my two penn'orth, hope they help.

zcrat41

Thanks meyore, thats a good idea. looking at some of my figures now they are high - however, believe it or not I've already cut those down majorly. Its scary the consumerist lifestlye I've been living - its kind of seen as normal in my social circle to do this - in fact some are now beginning to think I'm tight. I am beginning to change and I want to do so more. If I think about what I've spent in the past couple of years i could kick myself. I need to change. The clothes is a little bit justified as in the last year I've lost 4 stone, so seem to have to buy clothes all the time that don't fall off!! Again, I now buy in George and Matalan not Next and M & S.
The magazines is only really the Sunday papers once a week, but you're right. Why is it you sometimes need other people to point out the obvious?!!

poppy_f1

how much have you got saved up? its just that its a bit pointless in having lots of savings earning say 5% interest when you are paying 15%+ in credit cards

also you seem to be spending a lot on your social life ie eating out drinking that could be cut down a bit, also coffees? im assuming this is for work, get a flask and take your own

good luck with it all

tigtag02

zcrat41 wrote: »

Hello people. I've been lurking about on here a while and am amazed at some of the stuff people are doing and the support you guys give each other. I was hoping to tap into a bit of that really!! I've been picking up lots and lots of tips which is great, which resulted in me doing my first ever budget!!! (Wish I'd learnt this so much younger!) Just wondered if you guys could have a look and see if I'm on the right track. I do have one question - I've based this on a 4wk month, how do you suggest I go about doing it incorporating a 5 wk month??

I've been following this for a month or so and it seemed to be worked really really well. however, yesterday, in a fit of wild supermarket shopping with a housemate who's a VERY bad influnce. I emerged having spent £75 on nothing more than, wine, crisps, more wine, chocolate, even more wine, scrummy pudding things, rum, vodka, gin... you get the picture. The house is a mess this morning. I'd done so well and I thought if I posted on here, I might be shamed into not doing it again!!

So, SOA

Income, 1350 pcm.
debts - CC1. £130. Don't know apr.
loan 1 - £499. Repaying £100 pcm, 50 overpayment every month. Don't know apr. v low as a graduate loan though.
Student loan left - about £4000.

Rent340.00
bills120.00
phone35.00 ~ is this contract? When is it up? You could get a better deal.
cleaning10.00 ~ you could cut this compltely and do it yourself
Food152.00 ~ if this is just for you you can deffo cut this back with some old style boarding and clever shopping (I just made two dinner time portions of soup for 10p!!)
Eat out44.00 ~ Have you tried different places ~ there are a few near us that do BOGOF or 2 for a tenner, or the eat all you can buffets.
coffee22.00 :eek: :eek: :eek: :eek: :eek:
home drinks5.00
drinking44.00 ~ Is this out or in?
smokes30.00 ~ I concur with the poster who siad you can get these on prescription.
flights8.40
car cleaning3.00
parking 5.00
loan100.00
credit card50.00
savings100.00 ~ Might be worth knocking this on the head or at least halfing it until your debts are gone
dry cleaning2.00
film3.50 ~ Get yourself on Quidco and take advantage of the free trails and cashback too
cinema/bks20.00 ~ Orange Wednesday Library
w/e away34.00
xmas9.00
skiing17.00
b-days4.17
clothes50.00
mag's9.00 ~ I would deffo read all this gossip online ~ although now you ave found us you wont have time for mags and papers
dentist3.00 If you also wear glasses then the Leeds Hospital Fund might be a good option for you (which reminds me I MUST join that )
hair5.00
Total1225.07
Couple of notes - bills are shared in our house. this covers council tax, water, gas, electric etc. Any left over in the account at the end of the year we split equally.
no car expenses as have a company car. travel budget is for going home to parent via easyjet couple of times a year. I would drive but its a good 9 hrs, long way for a weekend!!!
Car cleaning, I get it valeted twice a year as I have to use it for clients and I can't seem to get it as clean as they do!!
Smokes isn't fags - I'm giving up (thanks to the demotivator here!!) and this at the moment is paying for my nicotine lozenges.

Looking at it on here I think I'm ok but I do seem to have been in a cycle for the ppast couple of years of getting a few hundred on a cc and paying it off, getting the few hundred back. I really want to save for a deposit on a flat but don't trust myself at the moment.

Thanks if you're still reading....hope I haven't bored you to death! And sorry if I'm taking up space.

ZC

PS on rereading, I don't have a drink problem!! House party last night.

Hello there and welcome ~ hope your head isnt too sore from last nights party
I have put a few thoughts above.

Lotsa luv
tigtag

tealady

Hi and welcome. Heres my random thoughts.
A spending diary is always useful, shows where the money goes. Also use the snowball calculator to see which debt needs to be cleared 1st. I would suggest that if you have money left at the end of the week transfer it to the debt with the highest APR. If you feel silly going into the bank and paying off a small sum then do it via online banking.
Billing account, does it give you interest if not switch - its your money after all.
Company car - do they pay you mileage or do they pay out on your petrol receipts. If the former theres a site to find the cheapest local petrol station.
Hope this gives you a few ideas. In themselves they may only save you small amounts but as Mr T says every little helps.

zcrat41

Thanks for all your advice.

Poppy - I now know this seems a lot on socialising. I do find this hard though. i'm single and live a long way from family and life can get really lonely (and I'll never meet a man!!) unless I go out. i'm not out clubbing every weekend, just to the pub/cinema/pizza once a week. I'm getting better though and want to get even more so!

TigTag - already a library member and get through about 5 or 6 books a week. i used to think I'm saving so much there i can treat myself to a nice hardback once a month. However, being on here I'm learning that I don't really need that - especially if I want a flat. I cannot have everything. You think that would be simple to learn wouuldn't you!! And 10p dinner portions of soup - how???!!!! Thats incredible!

Tealady - everything paid for including private mileage. I do get taxed to the hilt for it though.

Thanks again guys