Cosy blanket

longway2go

Thank you MF, I have an almost standard monthly budget (Direct Debits, food shopping etc) and a flexible monthly budget with the remainder which I then review and adjust each month depending on what is coming up so insurance, mot, birthdays, Christmas. Atm I don't use sinking funds but may start that once I have the EF in place. I have a few bits I have put off but yes will definitely look to get those done in good money months when the EF is fully funded.

Atrixa I think they do take it much better than we would as adults. The treats give me the final push, and doesn't cost much considering its every 10k so only had 1 celebration meal yet. My OH isn't into finances like me so its an opportunity for me to highlight how far we have come.
Managed to sort out OHs car insurance and get £80 CB so really pleased with that because he didn't think it was worth the effort initially but came round to my idea.  We are paying for it in one go as it saves us a bit of money to do it this way. The Mot is an unknown amount at this point of time but I am going to set aside 277 for that out of my pay. Its being done early in the month so I will at least have an idea quite soon if that will cover it. Really I am hoping for lots of change out of that!!  I must say a few years ago I would be worrying about how I would pay for insurance or MOT in one month let alone both in January but my money management is definitely improving over time and I feel in control. 
Little one still has a temperature but not too bad in himself, although I am not very keen on his idea of getting up at 5am this morning. 

MovingForwards

Do you leave places in your spreadsheet for the ad hoc payments, that way it's a reminder with a guessed figure as a holding number until you know what it is.

It's worth having a small float, either cash, left in your current account and untouched or in a savings account with your current account provider. Means if you decide on a whim it's a lovely day for ice cream in the park, or you see something too nice to resist, the money is on-hand.

Insurances, tax, TV licence and things like that, should be paid in one lump sum, saves all these little DD's and the equivalent money can be put away for renewal.

Fingers crossed for the MOT. Being in control of budgets make that annual test something less scary than before 🤗

doingitanyway

Wishing the little one a full recovery x

longway2go

So we have ended up in hospital and my little man has severe tonsalitus, I'm so glad we have found a cause and wonder if previous sickness has been around this. We are in at the moment but hopefully home tomorrow with Abs and a follow up plan.
I do leave gaps and have a good guess based on previous costs. 
We pay for car ins, house ins annually but nothing else atm. MF do you know if I will save money doing it that way just wondering what the advantage is if I am paying monthly to provider or into sinking funds?
Funny you should mention a float as I have been thinking of introducing one in my account... We do have money monthly set aside for food and then discretionary spending.
Hope everyone is well. 

Irenadler

Sorry to read that LW2G, hope your boy is sorted and feeling better soon, take care of yourselves - all of you.

MovingForwards

I don't need a TV licence, so don't know if they charge for not paying it in full, car tax do. 

The reason I pay things in full isn't just because of any potential cost saving, but it's one less thing to try and pay if income changes / loss of job. In the right savings account that money can be earning some interest while it's being saved up for the following year.

Hope the little man feels better soon.

longway2go

Thank you. We are still here and had a further diagnosis but feel at least now we know what's going on and someone is listening. What he has now been diagnosed with has been suggested to GPS several times and dismissed.

Thank you MF that's a good point. 

doingitanyway

Oh no! Your little one is going through it isn't he? On the plus side now they have a clearer picture they can better help. Wishing him well.

On the annual or monthly payments, I can see how paying annually for everything where possible builds in wiggle-room and prevents the monthly budget getting eaten up by this and that. The TVL DD actually takes payments in advance of the licence so you end up overpaying. Your posts have made me rethink the TVL and I might pay it as a one off in future

longway2go

Thank you for your well wishes, we have had this for a long time so the answer to this issue couldn't come quick enough tbh... We feel so positive we are through that and can get help.
Tbh, I need to look and see if we need one, I really don't watch much TV and if I do it's n3tflix of A3azon but occasionally watch the BBC news... Which I would need to stop. Food for thought. 
Hope everyone is OK. 
We now know both the salary/tax changes for me and OH so only bit we don't know now for Feb is cost of Mot. 

MovingForwards

Helps having a name, as then it allows the right assistance and treatment.
If it's only the news, you can read that online as even breaking news is up pretty quickly. Maybe give it until summer or whenever your new licence is due, before making a decision.

Finance is falling into place 🤗