First Steps to Solvency

alt80

@theoretica Thanks, yeah I’ve sorted it, I do the books for it no !!!!!! chance letting her loose with that. Sort estimated due in tax and transfer to tax account as soon as it comes in. Accountant sorts everything else.

I have a bit of a paranoid thing going on re owing hmrc money lol. Could probably make the tax accounts work harder but have a bit of a weird risk block so far as that’s concerned. 

alt80

Something positive at least - cleared the overdraft and starting April with a c/f underspend of £690 which will go towards less having to be put on the purchase card to meet the 0%s in July. Will have to find £6255 to meet the July 0% deadlines. Feels doable.

Apr-21	Balance
Barclaycard	£5,980.00
M&S	£1,025.00
Sainsburys	£6,050.00
MBNA	£10,420.00
	£23,475.00
Overdraft	£-
Total	£23,475.00
Mar-21
Underspend	£690.00
	£22,785.00

strawb_shortcake

Alt - out of curiosity what's your thoughts on the AM DBX? I just pulled up behind one and thought it was !!!!!!! Then I checked the OTR price and £160k!! I hope if my Son ever gets his dream of buying an AM then it's a better looking one than that

ladyholly

You must for your own peace of mind find a way to stop her going nuts in Birminham with your card. It may have her name on it but they are yours because the money to pay them is yours. (that is not a thing I would normally say re husband and wife but in your wifes case I will make an exception). If she is not prepared to put her earnings albeit small into tthe family pot then why should you. If she says it is things for your son then tell her she has a limit and anything over that will come out of her budget.

With regard to family time either you need to go with them or insist on a time limit so that you get time with your son as well. She cannot spend all weekend with her parents with your son . She could go without him at least one of the days so you can spend some time with him as well. I realise he will want to see his Grandparents but one day a weekend is sufficient. She can also go with him after school during the week when you are working. You are only really developing a relationship with your son dont let her need to be with her parents intrude on that.

alt80

Just before I make my family lunch and settle into the rugby, got to try to make something of an effort with them lol.

July amount due - £6,255
Total income - £32,200 (Apr-Jul)
Forecasted expenses - £29,965
March underspend c/f - £690

Total towards card deadline - £2,925
Estimated purchase card balance - £3,330

Total estimated owing (cards) Jul-21 - £17,680

If I can pull this off I’ll be very happy, through the portfolio refinance too then so that’ll be looking more rosy just building the sinking fund back. Don’t know what’s going on with me the finances don’t really feel like a chaotic mess anymore waiting for impending doom ha. Wish I’d done this earlier was concentrating on the fuel overspend against the estimated a bit too much. Have updated the forecast accordingly £425/m for petrol. FML actually feel like I’m going to be ok not in a massive financial mess haha.

getmore4less

As you have the purchase card I would load it now with as much as you can to  get the cards with the July dead line clear ASAP..
Its all 0% money so does not matter where it is.

The purchase card sticks a new date in the cashflow projections, get the July ones out of the way.

enthusiasticsaver

The finances look good. Great underspend for March and no overdraft. Credit cards down by almost £20k in 6 months aren't they? 

RelievedSheff

That is a great under spend.

You do have to make sure you are not going from one extreme to the other though! 

CRANKY40

For what it's worth, I don't think that your wife hates you at all. There's a bit/a lot of attention seeking going on but honestly, I think it's you that she wants. Not the pre lockdown you though, the new you that spends weekends and evenings with her and your son. The way she changes when you do that makes me think that's what she has always wanted. I've thought this right from the beginning of your diary and nothing that I've read has changed my opinion. She may behave like a brat here and there but if you join the dots I think that the answer to the puzzle is that she wants you and a solid happy family life. 

efes_shareholder

I personally think you are doing great , and when lockdown ends i so hope you can puff your chest out proudly and tell the sniffers you don't do that rubbish anymore and there are better places to put your cash then up your nose...............i'm so hopeful you will also notice what complete bell ends they are when they are on it and how you dont want to potray yourself in that lignt any longer .....................think back to the incident at the school !!
As for the wife , i'd be inclined to reduce the limit on the card she goes shopping with just before she goes so that she CANNOT spend more then you want her too and I'd also tell her before she goes how much there is available for her to spend. Your son is at primary school age , he does not need to go to selfridges and could just aswell be kitted out in Next or H&M or M&S and the sooner she realises this the better. when my kids were little , I didn't work and had a thing about designer labels because my ex earnt the money not me so I didn't get the value and when I look back on what I used to spend I'm actually disgusted with myself more so because I damm well know I wouldn't have spend £30 plus on a pair of jeans for a one year old if I'd had to earn it myself at £8 per hour.
As your wife is starting to earn i hope she starts to see this , I think in hindsight my ex managed it when I went back to work when my youngest was 2 by saying to me that I didnt have to pay towards the house but I could keep my wages for whatever I or the kids needed , this took the pressure off of him and I soon learnt when earning my own money just how hard i'd worked to get it and wasnt so wasteful with my own earnt money as I was his