2008 - Live on £4000 for a full year.

Glen0000

patootie wrote: »

It's not often Martin makes me cross .. but this challenge is an 'insult' to all those people on basic pensions and the disabled .. flamin' cheek I call it .. my income is jusy £5000 .. that's it .. from that I have to pay for everything INCLUDING rent, mortgage payments, council tax or water rates essential work related expenses or 'luxury' items such as holidays ..

I am long term disabled .. I've been on a low income for the last 15 years .. I haven't had a holiday for 15 years, I don't go out, don't drink, don't smoke, don't socialise .. so I'd love to have the LUXURY of £4000 to live on for a year .. (without rent etc) .. woohooo .. with £4000 I'd be RICH ... compared with my present bread line existence ..

So for once Martin .. you've made me very, very angry ...

Dont want to go OT but are you sure you are claiming everything you are entitled to? DLA alone is worth more than £5k plus you would get your rent, council tax paid in full. A single disabled person with rent of £80 pw would be entitled to over £12k in benefits. http://www.entitledto.co.uk/

Similarly a single pensioner on the basic pension and pension credit is entitled to £10k

dont_want_to_be_in_debt

I would like to join in please. We are a family of two kids one dog a cat and guinea pig. Sooooo much debt unsure if we will have a home in 2009. If I can help by keeping the budget low that would give us more time.
I propose that we spend only £70 for food a week - lower if possible. (any extra can go in the christmas jar. We need one tank of petrol to get kids to school and the odd free day out £50. The kids get £5 pocket money each week- they have to get everything they want out off that. £130 per week £6760. I would like to get it lower but know its impossible but at least if I try and suceed that will be better than failing, this year we will fet our life under control.:A

princess_leia_3

Is this to include things like house/car/life insurance etc? as just worked mine out and apart from mortgage etc the other direct debits I have for insurances and Sky (yes, I know ) etc will leave me with £135 per month/ £30 per week :eek: Not sure I can do that!

So can I be entered into the challenge for £5000 please and I will include everything except the standard mortgage/c-tax/water. Not sure if we can do it but at least we will try;)

Thanks

KiKi

princess_leia wrote: »

Is this to include things like house/car/life insurance etc? as just worked mine out and apart from mortgage etc the other direct debits I have for insurances and Sky (yes, I know ) etc will leave me with £135 per month/ £30 per week :eek: Not sure I can do that!

So can I be entered into the challenge for £5000 please and I will include everything except the standard mortgage/c-tax/water. Not sure if we can do it but at least we will try;)

Thanks

Yes, it is to include ALL extras *unless* they're considered essential (eg, your mobile is for work / you live in the country and have no option but to have a car to drive for essential journeys).

Well done for taking on the challenge!

KiKi

fallen_angel_shelley

i would just like to wish everyone thats taking part in this challenge all the best, i take my hat of to you all. i had been thinking about taking part but just can't see how i could, being on benefits and trying to pay of debts. i will be watching, to see how you all get on. good luck, guys. x :beer:

Burlesque_Babe

sigh..........I keep looking at this challenge and thinking - it just isn't do-able for me, but the harsh reality is, it is exactly what i'm going to be living on in 2008 unless I either get a different job, or keep dipping into my savings, which I've done for the last 2 months.

My figures are:

Mortgage and CT (so not included)...................858 per month (214.50 p/w)
Utilities/insurances/petrol....................................220 per month (55 p/w)

Total.....................................................1078 per month

If I work on £4,000 per year, that would leave me £85 (21.30 p/w) for the month for food, clothes etc. My OH contributes roughly £65 towards the shopping at the beginning of the month (we don't live together and he has his own mortgage etc) which I use to fill the house with 'store cupboard' stuff. I'm already on the best deals for every aspect of my finances and I've no debt other than my mortgage.

I can't even cut myself a bit of slack and say I'll do £5,000 throughout the year because I have only, near as damn it, £4,000 anway!!

I can't screw down my outgoings any more than I already have done. I've literally just changed my pet insurance (in the last few minutes) which saves me £1.25 a month but will get me £20 cashback towards my tax bill challenge.

I'm self employed and only just about earn £1150 a month as it is - and that's if I really push myself. I've already challenged myself to pull together the money for next years tax bill through click thrus and quidco etc, which will be a struggle. I'm aiming to use pigsback for as many £10 boots vouchers for presents and I don't need to buy a present (yet) until the end of March.

I wouldn't have a penny to put away after the essentials and the '£4,000' money had been spent for the whole year. I'd be living each month by the seat of my pants if I signed up. It would mean not being able to dip into my savings - at all.

I've gone for a promotion today with my work which would mean a salaried post instead of being self employed and would mean the situation would be utterly changed. It would mean more disposable money (outside the £4,000) but wouldn't improve the measly amount left each week in the challenge! I won't know about that until well into January and there's no guarantees.

I need to think about it all for a bit......... I think the reality is I need to sign up otherwise I'm not going to be kept on a tight enough leash (even tighter than it's going to be anyway)............but I do need to think for a bit more.....

saverram

I W0uld like to join this challange. my 4k will include all bills except rent, C. Tax, and any trips abroad.
i.e they include electricity, phone, sky, BT line, Food, Cleaning and Toileteries.I will also include DH Driving Classes and the travel charges .

Can i have a number please.

mini_huny_money

hya Keren....me too is gonna be flying by the seat of my pants.....!!!!

Even just thinking about doin this challenge when I was finishing my chrissie shopping helped me to not just buy for the sake of it......

OH bought me a late pressie....or early birthday...jan 2nd another year older:eek: an A5 diary from the pound shop to help me with this challenge,its just the right size to fit in my work bag to enter all those little spends that eat awy at my wages
he's not joining in, but he's pretty good with money anyway.He's helped me so much moneywise. (edited to say)I don't mean handouts of money.....I mean money advice......A few years ago after my divorce I was in a really bad place regarding money I knew what I shouldve been doing but looking back it was my state of mind at the time.

Am feelin very nervous and not sure I can do it, but Im hoping with everybody's help I can.

We havent even started yet and I feel warmth......is that the right word???? to all the other challengers

liuhut

OK lovely to see loads of new people have joined....its nice that people can support each other.
My negative from today is that I got my mobile and its £50 argh, was really beating myself up over it....but then I thought that it was before I started this challenge. I have started a little tally in my book of now often I use it from now on and made £....50 on quidco last night which I could use to pay for it.
Do you think that its cheating to use that money to pay the mobile as it was pre challange.....!!!! oh and I promise not to cheat again!

Penny2myName

fallen_angel_shelley wrote: »

i had been thinking about taking part but just can't see how i could, being on benefits and trying to pay of debts. i will be watching, to see how you all get on. good luck, guys. x :beer:

Hi I am on benefits with 2 children at home, and I am taking part, I also have debts. Removing my water from the equation my household bills come to £2214.36 a year, that's with a high gas payment of £80 a month (playing catch up) Leaving £1785.64 for rest of the year for travel and shopping, around £34.30 a week. All other income over the £4000 mark is for debts Regular payments of around £205 plus any extra that this challenge is allowing me to throw at them.
My yearly income before the aprils increase works out a year at
child benefit £1570.04
Income Support £3075.80
Child Tax Credits £4255.16
Maintenance £1200.00 (25% goes into children's accounts, trying to get debt free so they get the full 100% between them)
Total £10,101.00
On top of this I receive full rent rebate and council tax rebate, plus all health care if required.
This leaves me with £6101 to go on debts, water rates and non essentials.

Looking at it all broken down like that, makes me even more determined to clear my debts, as I would be rolling in it then. One year debt free and I can build a nice saftey net up for when my son is old enough that I can return to work without having to take time off if he is ill (general illnesses not major) If I have to have time off i will have that saftey catch of cash there for me to cover bills and rent.