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Advice on reducing food bill?

1356

Comments

  • wmp92
    wmp92 Posts: 21 Forumite
    10 Posts First Anniversary
    edited 12 March 2022 at 10:10AM
    Exodi said:


    Perhaps you should post a full statement of affairs to see where else you can reduce your expenditure?
    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Monthly Income Details[/b]
    Monthly income after tax................ 1825
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0[b]
    Total monthly income.................... 1825[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 470
    Secured/HP loan repayments.............. 126.5
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 148
    Electricity............................. 30
    Gas..................................... 25
    Oil..................................... 0
    Water rates............................. 26.5
    Telephone (land line)................... 0
    Mobile phone............................ 15
    TV Licence.............................. 13.37
    Satellite/Cable TV...................... 0
    Internet Services....................... 42.75
    Groceries etc. ......................... 62.5
    Clothing................................ 30
    Petrol/diesel........................... 450
    Road tax................................ 2.5
    Car Insurance........................... 53.82
    Car maintenance (including MOT)......... 35.41
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 10
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 10
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 15
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0[b]
    Total monthly expenses.................. 1566.35[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0[b]
    Total Assets............................ 0[/b]
    [b]

    Secured & HP Debts[/b]
    Description....................Debt......Monthly...APR
    Mortgage...................... 97159....(470)......2.11
    Hire Purchase (HP) debt ...... 4175.....(126.5)....6.9[b]
    Total secured & HP debts...... 101334....-.........-   [/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    iPhone ........................486.......37.5......0
    Virgin credit .................5509......55........0
    PayPal credit .................1971......51........0[b]
    Total unsecured debts..........7966......143.5.....-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 1,825
    Expenses (including HP & secured debts). 1,566.35
    Available for debt repayments........... 258.65
    Monthly UNsecured debt repayments....... 143.5[b]
    Amount left after debt repayments....... 115.15[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 0
    Total HP & Secured debt................. -101,334
    Total Unsecured debt.................... -7,966[b]
    Net Assets.............................. -109,300[/b]

    [i]Created using the SOA calculator at www.LemonFool.co.uk.
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

    Unfortunately the formatting hasn’t worked!

    I haven’t included birthdays/Christmas/holidays, because I am unsure whether to calculate what I have spent over the last year, although perhaps it is a worthwhile afternoon activity to go through and work this out. 
  • emwi
    emwi Posts: 16 Forumite
    10 Posts Second Anniversary
    A couple of things. You have put food as 62.50. Is that the weekly cost? If so, you're looking at £250 a month. Also the value of your house should be listed as an asset.
  • fatbelly
    fatbelly Posts: 23,290 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    You're showing £115 spare but your grocery bill is probably out by £200. So in practice your budget is not sustainable, and prices of everything are about to rise.

    Does your council tax have the 25% single person discount (if applicable)? Are you paying it over 12 months?

    Is the HP your car and how far into the agreement are you? If that were to go, the whole thing would look better.
  • fatbelly
    fatbelly Posts: 23,290 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    edited 12 March 2022 at 10:57AM
    If you're not in a contract period you can save on your broadband costs - there are some very good 12-month deals at the moment

    https://www.moneysavingexpert.com/broadband-and-tv/cheap-broadband

    and - do you really need a tv licence - easy declaration online if you don't

    https://www.tvlicensing.co.uk/check-if-you-need-one/topics/telling-us-you-dont-need-a-tv-licence
  • emwi
    emwi Posts: 16 Forumite
    10 Posts Second Anniversary
    I'm sure you're aware of this but that is a massive car fuel bill. If you're doing a lot of essential travel then the rising cost of petrol is going to cause you a lot of problems. Can you cut your car use at all?
  • wmp92
    wmp92 Posts: 21 Forumite
    10 Posts First Anniversary
    emwi said:
    I'm sure you're aware of this but that is a massive car fuel bill. If you're doing a lot of essential travel then the rising cost of petrol is going to cause you a lot of problems. Can you cut your car use at all?
    Yeah sadly this is essential commute to work - an absolute fortune but I tidied in until next year when I can look for a job closer to home.
  • wmp92
    wmp92 Posts: 21 Forumite
    10 Posts First Anniversary
    fatbelly said:
    You're showing £115 spare but your grocery bill is probably out by £200. So in practice your budget is not sustainable, and prices of everything are about to rise.

    Does your council tax have the 25% single person discount (if applicable)? Are you paying it over 12 months?

    Is the HP your car and how far into the agreement are you? If that were to go, the whole thing would look better.
    Yes getting 25% discount. I had to pay over a shorter due to an error but I’m expecting it to be around £100 in the new financial year. 

    Yes HP is car and only half way through. I did look at whether I could find a cheaper loan but couldn’t find a cheaper interest rate. 

    Its food bill that I’m struggling with. I’m averaging £250 a month on groceries hence entering that figure. Actually I think I’ve made a mistake ad added a weekly estimate not monthly!
  • wmp92
    wmp92 Posts: 21 Forumite
    10 Posts First Anniversary
    emwi said:
    A couple of things. You have put food as 62.50. Is that the weekly cost? If so, you're looking at £250 a month. Also the value of your house should be listed as an asset.
    This was an error, realised I’ve entered. Weekly estimate not monthly, which I’ve been averaging £250 a month 
  • wmp92
    wmp92 Posts: 21 Forumite
    10 Posts First Anniversary
    Updated SOA (do I put house’s value or the amount of equity I have?)

    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Monthly Income Details[/b]
    Monthly income after tax................ 1825
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0[b]
    Total monthly income.................... 1825[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 470
    Secured/HP loan repayments.............. 126.5
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 148
    Electricity............................. 30
    Gas..................................... 25
    Oil..................................... 0
    Water rates............................. 26.5
    Telephone (land line)................... 0
    Mobile phone............................ 15
    TV Licence.............................. 13.37
    Satellite/Cable TV...................... 0
    Internet Services....................... 42.75
    Groceries etc. ......................... 250
    Clothing................................ 30
    Petrol/diesel........................... 450
    Road tax................................ 2.5
    Car Insurance........................... 53.82
    Car maintenance (including MOT)......... 35.41
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 10
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 10
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 17
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0[b]
    Total monthly expenses.................. 1755.85[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 44000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0[b]
    Total Assets............................ 44000[/b]
    [b]

    Secured & HP Debts[/b]
    Description....................Debt......Monthly...APR
    Mortgage...................... 97159....(470)......2.11
    Hire Purchase (HP) debt ...... 4175.....(126.5)....6.9[b]
    Total secured & HP debts...... 101334....-.........-   [/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    iPhone ........................486.......37.5......0
    Virgin credit .................5509......55........0
    PayPal credit .................1971......51........0[b]
    Total unsecured debts..........7966......143.5.....-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 1,825
    Expenses (including HP & secured debts). 1,755.85
    Available for debt repayments........... 69.15
    Monthly UNsecured debt repayments....... 143.5[b]
    Amount short for making debt repayments. -74.35[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 44,000
    Total HP & Secured debt................. -101,334
    Total Unsecured debt.................... -7,966[b]
    Net Assets.............................. -65,300[/b]

    [i]Created using the SOA calculator at www.LemonFool.co.uk.
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
  • josephine82
    josephine82 Posts: 475 Forumite
    Part of the Furniture 100 Posts Photogenic Combo Breaker
    I do the following; 

    - stock up on cupboard staples in places like Aldi and Lidl
    - meal plan for the week ahead so I know exactly what I need to buy, using recipie cards from Hello Fresh I got from a friend
    - tend to make two portions of everything and then pop in the fridge for later on in the week or in the freezer for ‘emergencies’, 
    - ensure I have enough to make a healthy, filling breakfast and lunch when I go to work to ensure I don’t need to spend any additional money on food that day. 

    You do just get into a routine and it gets easier.. just takes a bit of planning and thought initially. 

    Good luck! 
    Debt free as of 2 October 2009
    Mortgage free as of 27 March 2024
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