My SOA

username901

Maybe Ive missed it from skim reading, but as you're a higher rate tax payer are you saving this amount, plus an extra chunk to cover your tax bill? I presume you're not operating as a ltd company? As soon as you make a good headway in to your debt start a sipp if you haven't already.

790hero

username901 wrote: »

Maybe Ive missed it from skim reading, but as you're a higher rate tax payer are you saving this amount, plus an extra chunk to cover your tax bill? I presume you're not operating as a ltd company? As soon as you make a good headway in to your debt start a sipp if you haven't already.

I have a Ltd business so the business saves the money for income/corp tax. I've just paid it last week!


In other news, mobile contract came to an end, so I have gone SIM only, saving £50 a month:T (in my SOA it is under telephone)

I have also been existing nicely this month within my budget, which is under £500. That pays for all my food, clothes, fuel, gifts etc etc after my monthly bills and minimum payments are met. Any surplus is going straight onto debt repayment.

EssexHebridean

Delighted to hear that it's all going well still!

790hero

EssexHebridean wrote: »

Delighted to hear that it's all going well still!

I had a business meeting today, I stopped for fuel, I didn't buy a costa.

And no KFC on the return leg, I packed a roast beef bagel. Bagel from my grocery budget and roast beef that I had cooked and frozen. An easy £10 saved there (including the costa i didn't have)!

Sat in the left hand lane there and back, £12 in diesel, and about £72 back in expenses (granted its my business but its all tax free)

I have doubled my efforts at work too, and set myself a stretch target of being debt free (including paying off the bike) by Xmas.