Household budget

chelseablue

Not sure if I’m posting this in the correct board; let me know if not!

My bf and I are looking to buy a house next year and I’ve started to think about all the things I need to budget for bills wise.

This is everything I have thought of so far, but I’m sure there must be things I’ve forgotten if anyone cares to add:

Mortgage: budgeted for £1000 a month max
Council Tax £108 over 10 months
Food £50 a week for 2 people
Gas £30 a month? Not sure on this
Electric £30 a month? Again not sure on this one.
Water Rates £30 a month
Insurances (Buildings, Sickness/Unemployment) £50 a month for all
Petrol £80 a month for me. Bf gets his paid by employer
Car Ins £20 a month for me. Bf has company vehicle so employer does it
Car Tax £15 a month for me. Bf as above
MOT £3 a month.
Breakdown Cover £3 a month
TV Licence £12 a month
Mobile (me) £10 a month. Bf has company mobile
Gym (bf) £30 a month
Family Birthdays/Christmas presents £25 a month. 10 people at £15 each for birthday and Xmas
Dentist £5 a month. 6 monthly check ups for 2 people
Socialising (bf!) £100 a month. £50 a fortnight. Cant really complain as he gives me ALL his wages!

Magentasue

Landline phone? Broadband? Like Sky, not an essential but you may disagree.

I would factor in some regular saving for emergencies. For example, you don't have any car maintenance costs and even the most reliable cars need new tyres etc. Same for household maintenance - if you need to call a plumber out or replace the fridge, it helps if you have something put by.

Lavendyr

That all sounds fairly similar to my and OH's budget (though our rent is lower than your budgeted mortgage), you seem to have most things pretty well covered, just a couple things I thought of:

- hairdressing
- you list most types of insurance but not contents insurance?

chelseablue

Magentasue wrote: »

Landline phone? Broadband? Like Sky, not an essential but you may disagree.

I would factor in some regular saving for emergencies. For example, you don't have any car maintenance costs and even the most reliable cars need new tyres etc. Same for household maintenance - if you need to call a plumber out or replace the fridge, it helps if you have something put by.

Yes, forgot the landline! I think line rental is £11 a month plus calls.

Wont be having a computer or internet, I can use interent at work and my bf would'nt know how to switch on a pc!

We are going to buy one of those freeview boxes so no monthly bill there.

Whatever is left each month will be going into a savings accounts for when things go bang (which I'm sure they will!)

PasturesNew

As you're pre-planning and not scrimping through debt, what about:
- Holidays?
- clothes/shoes?
- weddings (if you're in that age bracket where smug couples get married and you need a present/card/wrapping paper/outfit/drinks at reception)

chelseablue

Lavendyr wrote: »

That all sounds fairly similar to my and OH's budget (though our rent is lower than your budgeted mortgage), you seem to have most things pretty well covered, just a couple things I thought of:

- hairdressing
- you list most types of insurance but not contents insurance?

Hairdressing; theres another thing I forgot! I cut bf's hair (number 1 all over ) myself. Last haircut I had was 25 quid! Was thinking of asking at the local college as they teach hairdressing and members of the public can go and get a cut. Should be less than 25 quid a go (maybe even free!)

Good point about contents ins; wont really have any contents to start with exept a beaten up old telly and a hand me down sofa but will get this when we have more contents

chelseablue

PasturesNew wrote: »

As you're pre-planning and not scrimping through debt, what about:
- Holidays?
- clothes/shoes?
- weddings (if you're in that age bracket where smug couples get married and you need a present/card/wrapping paper/outfit/drinks at reception)

You guys are good on here!

Most of our mates seem to skip the marriage bit and go straight for the kids :rolleyes: so I dont know of any weddings happening (2 babies are arriving next year though so presents are needed there)

I'd like to save up for my own wedding; not that I've been asked yet!

Clothes and shoes I dont buy every month and when I do it's usually primark, asda and matalan! Do like NEXT though...... and good quality shoes so maybe I should budget £20-£30 a month?

nollag2006

Have you used Martin's budget planner?

http://www.moneysavingexpert.com/banking/Budget-planning

I've found it very helpful

Phirefly

We have extremely similar outgoings to you, except our gas is WAY less, small house, well insulated, we pay £10 a month tops. We do spend loads on food though, but thats because we're both real foodies and Mr. P is an amazing chef (less dining out costs!) so we could cut back on this but that would be a last resort!!!

Excluding my car costs (like your situation, his is company - and mine and your car costs sound identical), we pay £1500 a month for all bills between us incl. £790 for the mortgage into a joint a/c which has all the DDs and SOs etc. This is an overspend and every so often I review the accounts and sweep the odd £100 accross to savings.

This doesn't include mobile phones, were both on ridiculously cheap deals we pay for independently and Mr. Ps gym membership is working out peachy through the Pru Health loophole.

Things like holidays, gifts, clothes, weddings, socialising, stuff for the house just get paid for ad-hoc, I like to keep these costs separate from the running of the house. As I do my pension and savings.

I told Mr P last week that seeing as it costs us 18k a year to keep a roof over our heads and feed ourselves, hows about I jack in the 9-5 and become a housewife. Suffice to say I'm typing this from the office.....