How does everyone do it? Household Budget Review

MrsStepford

Review review review. Make sure that you are getting the best prices for insurance, car insurance, phones, broadband, gas, electricity etc. You could tell current provider how much the best deal is and ask them to match it.

If you only have contents insurance for a house which you have a mortgage on, you are woefully underinsured. You need household insurance. What if your chimney stack falls off in a freak accident of nature (happened to us). What if an uninsured drunk plows into your house, taking out most of your sitting room.
Insurance would give you peace of mind. 

Cars: My husband has switched from HP to personal leasing and you could investigate that. Might save you money. When you buy a car, you lose 10% of the value as you drive off the forecourt. With a leased vehicle, the leasing company takes that hit. You aren't paying interest on a loan, while the car depreciates every year, you are paying for the use of the car. 

The cleaner is a luxury. You should share the chores with your partner. By the age of 11, your children should be able to tidy, clean their rooms, make their beds, clean their shoes and trainers, make a simple meal, operate the washing machine and dishwasher, iron at least some of their clothes, water plants and feed and groom their pets.

Clothes..prune your wardrobe regularly and sell on eBay or with a clothes agency. Books, CDs, DVDs, games can be pruned and sold to We Buy Books and Ziffit. Encourage your children to do this as they get older and to find deals for things, to get them moneywise. 

Uni savings account. A prudent idea but as they become teens, make them work for it and tell them that you will match what they put in. That will encourage them to get part-time jobs or become entrepreneurs. 

You're doing fine with the food, maybe underbudgeting for holidays.

 Life insurance is sensible but check the small print on the critical illness cover. If it's paid out direct to policyholders, DWP may classify it as income and it could affect entitlement to benefits. 

Why not try giving better but fewer gifts ? You still look generous but you're saving money. 

£600 pcm for personal spending plus £150 pcm for socialising is a whopping £9000 per year. If you have children then you're not free and single, ready to mingle. You don't seem to be adding in the cost of sitters and taxis. Why not invite your friends over for kitchen suppers and barbecues ? 

You can justify cutting back to friends and family by telling them that you need more space for growing kids and to be able to entertain friends and family more. 

The personal spending is where the cuts need to come from, I think. But you are being very sensible re: fiscal security, on the whole. I

Xx

thara1996

Heya. 

This is my key advice in order to save money. See if you can buy all gifts on the cheap at charity shops or at Poundland in addition. You can borrow free DVDs from relatives, friends or from a town library in question too. Car boot sales are a popular way in which to find new books or other stuff here as well. Often times a much cheaper alternative is out there. You can certainly discover so many different new recipes online at no cost these days. Best wishes. After a family meeting one day to discuss my finances this is what I like to do. 

I began to use a old plastic tin in which to keep my daily savings each week during the first ever lockdown. I now tend to use a cheap and small diary to monitor my finances on top of that. Additionally I always borrow a few plastic plates from my close friends or family members. I do the same thing when it comes to finding packets of free seeds and clothes for parties. Seriously. Always look for alternative options as far as possible.