Going broke thinking i'm rich!!!

Lookafterthepennies2020

Thanks for everyone who has commented, it really does help having someone on here to natter away with.  I feel like I have been ranting on forever with my replies, so sorry if I have bored some of you to sleep already! 

Today and yesterday were both NSD, it has been cold and dark here which helps as I am less likely to just pop to the shop on the way home or into somewhere.  Long may they continue!!    I have a few friends calling in for a cuppa tomorrow after the boys are in bed which I am looking forward to and will not be spendy as we are meeting here rather than C$ta fortune! 

I have been thinking about eating LOL not just because I am trying to lose some weight, but we spend a fortune on shopping, takeaways and eating out so have made a brief plan for this week. OH is on nights so I have a chicken curry cooking away for when he is home, me and the kids will re-heat tomorrow for tea so don't have to worry about what we will be having.  I have a gammon in the fridge for Friday night, I am on half day so will get to pick up the boys from school and cook an early tea then I am going to use the leftover gammon for a pasta bake style dinner on Saturday.  I am then going to route through all the cupboards etc and see what we actually have for next week to see if we can make it through without doing a big shop.  I am going to try make it through with £20 for a top-up shop IF we are missing some bits!

I have £29 left in my account at the moment and its Ds2 birthday next week so I am anticipating a spend on the CC but will be budgeting £50.00. 8 days until OH payday so I am off to go and have a mess around with the budgets to see where we are after that.  I think we are going to try clearing half the bills with his pay then X amount per week to cover food, kids and spends seems a good idea as it is never too long to wait then repeating with my wage on the 25th but we will see  

savingholmes

Perhaps that could be the first challenge? Find stuff to sell that can help cover the cost of birthday gifts without using the CC. Maybe buy less gifts? I can't remember the age of your kids - but a lot of stuff is available on FB for knockdown prices. Start there maybe?

With money - it was only when I did my divorce budget - that I really worked out all my annual costs and made an effort to add everything in. Only then did I truly realise why money felt so tight. Certain months are easier and then wham a whole series of annual bills. It helped me a lot to:

1) Set up an emergency fund (start at £500 - get to £1000 and then try to raise)
2) Moving the money to other accounts and then moving it back to pay for specific items weekly rather than having one big lump staring at me saying spend me!! I don't use m0nz0 but others on here find its pots system really useful for budgeting. I do it for myself on a spreadsheet
3) Definitely work out your snowball
4) Work out at least 12 months of budget - and show the individual differences for each month. There are more than you think. Plot it out.

HTH

Lookafterthepennies2020

Thanks for the tips @savingholmes !!

Mine are soon to be 6 and 11..I had already bought his main present and a few smaller bits so I only have one thing to buy which is £13.  The rest of the money is going towards trampolining at the weekend for him and his brother, a cake and some sweets for school.  Good idea though I may use some of my half day to get some bits together to pop on a 3 or 5 day listing to see if I can cover the costs!!

I use YNAB or S/S so have a good idea of what my monthly bills are, however we never budget for holidays/emergencys/ car repairs/uniforms/clothes etc so think I could see a massive improvement there as this is when I tend to rely on credit.  I think putting the money in another account is a good idea, my Hfix doesn't have online banking so may leave enough in my main account for whatever bills are leaving, plus whatever amount is for the week.  

So far my goals are........Get through January without using CC's (then Feb, etc etc) ...Work towards an emergency fund of £500.00...Make at least £100 overpayment on Snowball 1 per month.  I think in the past I have actually paid too much over my minimum, then left myself short for the month, so use CC and on it goes.  So I plan on keeping more back this month to actually make it through without topping up with CC. and then reviewing everything at the end of Feb.

I am working on my SOA and going to go through (with some tears probably lol) my bank statement for the last six month's this month to see where everything has been going to try and set a more realistic budget for the year x 

WinterWarrior

i agree that emergency funds are the best things…very hard to get it in place to start with, but once you have it then you never have to add to debt, just pay back to the emergency fund if it’s needed. It feels so much better using your own money, rather than adding to debt and helps to turn that psychological corner.  Also sinking funds/pots for expected spends. I am struggling to get mine to a level where they will work properly, but once I get there everything should move much more smoothly.
I really struggle not to overspend on food, it’s hard, but you have all the right ideas ⭐️

joedenise

I use YNAB as well pennies and I have over 40 "pots" (probably nearer 50 if I'm honest!).  Fortunately we don't have any debt now but we do like our holidays so that is where what used to go on debt payments now goes.

I need to top my Emergency Fund back up as it's only about £700 at the moment and I like to have it at £1,000 so I'm adding at least £50 a month (we're both on pensions - I have state and small work one; DH state only although doesn't have a pension pot we can draw down from for large things like a couple of years ago we drew down to do the kitchen & bathroom up.

Going through your bank statements will give you the info you need to see what pots you need to set up on YNAB.  You've already mentioned some you need to add like school uniforms!

Good luck on getting sorted out and clearing that CC debt.

Lookafterthepennies2020

Morning All,

An early start for me today but the good news is I will get some overtime!  I have brought lunch again today, nothing exciting just a big container of soup which will be enough for tomorrow also. Today isn't going to be a NSD as we need some cat food however it is essential.  

A little bit productive this morning before waking up, I have re-set all my log-in's for my HMRC help to save acc and my payout in October 22 will be £150.00 I can still pay in £50 a month until October but  won't affect my bonus as my highest balance is already £500.00.  My next goal today is to try and reclaim the WFH tax I am hearing everyone talk about seems as I know my log-ins now. x  

Naomim

Don't get too excited about the wfh tax. It's 20% of £6 a month. 🤣

Lookafterthepennies2020

Naomim said:

Don't get too excited about the wfh tax. It's 20% of £6 a month. 🤣

😂😂😂 really 

Lookafterthepennies2020

Morning All,

Another NSD for me last night, a friend popped in for a brew and had tea with me and the boys as OH was on nights which was lovely.  Hopefully the mad rush at work is over and its almost the weekend

I tried to do the Tax form yesterday online, and seemed to get stuck in a loop with my claim at £0 so I am doing it wrong or it was jammed, will try again over the weekend.  Good news on the bonus yesterday, we have the accrual approved, just need the bonus approving against our figures and it should be paid in March  Where has the dancing emoji gone? LOL 

Popping into my mums on the way home to help her move some things around and getting the kids from school which is a nice treat for me as I can only do it once a fortnight.  I have a few expenses for work to put through so going to get that done today, nothing major about £20 but my bank could do with that at the moment Have a good day everyone!!!

Lookafterthepennies2020

Well @savingholmes thank you for recommending that I make my birthday budget money as I’m almost there 🥳 I found a cable I bought from Argos in the draw today which was the wrong one for £9 so returning that tomorrow when I go to buy the gift I wanted.

I also remembered about a £20 voucher I got for Christmas so going to keep that in my purse for the sweets and cake. 

Today’s been really productive I had a browse on fbkmarktplc last night and found some beautiful glasses that someone was actually giving away so went and picked them up this morning. I’ve then gutted the kitchen, had a good route through the cupboards and freezers and I’ve meal planned for the week and done a c&c for tomorrow for £55.00, whilst it isn’t the £20 I was aiming for its a lot less than usual so progress.

Gutted the kitchen whilst I was routing and the front room so will be taking a trip to the tip tomorrow. I’ve given Vntd a try and since last night I’ve sold a makeup bag, top, and a pair of leggings so £21 in my acc once they are posted and cleared !

We have just had the gammon for tea tonight as I made chicken Kiev’s yesterday and have plenty left over for a pasta dish in the week.  I’m going to paint some key rings tonight then have a nice bath I think, hope everyone is enjoying there weekends!!