My SOA - I need to get a grip

strawb_shortcake

Thank you, this is in part what we want to do, I'm 37 and my Husband is 42, he had a heart attack last year but has made a far better recovery than anyone was expecting. Previously he had been a stay at home Dad and worked 30 hours a month, on minimum wage.
With him giving up smoking and no longer paying into life assurance we are slightly better off than when he was working.
I do feel guilty/bad about spending larger sums, but I know if I can get my day to day spending sorted then there will be more money for bigger spending.

I find budgeting a bit like dieting, I know the theory but i need something to click before i can do it right

unrecordings wrote: »

If the point is to enjoy life while you can and you're in a good place financially then from experience I'd say just don't go overboard on the frugality and put yourself on a guilt trip. In terms of spending I'd suggest paying off the mortgage fully, and in terms of savings, go with premium bonds - which you've already done (the beauty of premium bonds is that they remain active for a year after the holder's death). Depending on the illness, you might be eligible for certain other benefits to cover car tax & prescriptions

JIL

I still think you are doing really well.
I think you have identified where you need to cut back.
That's the going into the shops for one or two things and coming out with loads.

Do you do a meal plan? Could this include, all meals and snacks? Then make a list after checking what you have in and go to the shops and only get what's on the list?
Or do an online shop and avoid all supermarkets for a week, only going to a local garage or shop for anything you need. The prices of everything else will put you off getting other things.


Also have a read of the debt free diaries, there are some good tips on there.

If it's like a diet, I'm fine if I exclude things, I cant eat just one square of chocolate, it's one taste and back to the old habits.

Good luck.

comeandgo

annabanana82 wrote: »

Yes we fill up 500 litres about every 8 months, the water heater goes on about 30 minutes a day then heating probably 8 hours a day on average during the winter months.

We are two fills of 1000 litres a year so yes, we are double your use. Well done you.

Tink_04

If your mortgage is on a higher interest than your savings are you better off paying off the mortgage?

It totally depends on your circumstances. I find the day to day money frittering the hardest too. I opened a Monzo account and have different pots to help me separate my money, I find this is the easiest way.

suki1964

comeandgo wrote: »

We are two fills of 1000 litres a year so yes, we are double your use. Well done you.

Im on 3 fills, plus the stoves

tboo

TV Licence.............................. 0

Do you not have a TV?

Buildings insurance..................... 6
Contents insurance...................... 6

£144 for the year - is that correct?

strawb_shortcake

tboo wrote: »

TV Licence.............................. 0

Do you not have a TV?

Buildings insurance..................... 6
Contents insurance...................... 6

£144 for the year - is that correct?

That's correct, not had a TV for 17 years. Stick to DVDs and ITV/C4 catch up.

Buildings and contents was a cheap deal for new customers but I think I'll increase this to a higher rated insurer later this year.

Toonie

If you want to know what's happening with your disposable income keep a record for a month of all your grocery spends (especially including the little shops). Then at the end of the month you'll see what is happening with your money and where perhaps you can make savings.



You may realise that a few days after a large shop you run out of milk or bread, so perhaps look at whether you can get extra in rather than heading back to the shops.



As Suki said, sometimes using a smaller shop despite the higher price is more useful for little items like bread and milk (if that's an option you can use).

strawb_shortcake

Thank you for taking your time to respond,
I've decided I will withdraw a nominal sum each week to cover incidentals, any left over will either go into a pot or I'll withdraw a little less the following week.
I'm also going to sign up to a Tesco pre paid card through work that I can earn cash back on and have either put on my card or sent to a bank account.
I will also go back to tracking my spending, fingers crossed my diet will improve again usually when ones good so is the other.

I'll make better use of the forums and try and get my husband better at preparing meals so stop the midweek shops.

I want to Ice skate in New York so have something to work toward achieving so that should focus the mind a bit