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Should itsthelittlethings spend less on coffee?

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Comments

  • itsthelittlethings
    itsthelittlethings Posts: 1,729 Forumite
    1,000 Posts Second Anniversary Name Dropper
    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household........... 1
    Number of children in household......... 
    Number of cars owned.................... [b]

    Monthly Income Details[/b]
    Monthly income after tax................ 1740
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0[b]
    Total monthly income.................... 1740[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 150
    Council tax............................. 147
    Electricity............................. 88
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 15
    TV Licence.............................. 15
    Satellite/Cable TV...................... 0
    Internet Services....................... 23
    Groceries etc. ......................... 275
    Clothing................................ 50
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 25
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 11
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 7
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 25
    Haircuts................................ 55
    Entertainment........................... 50
    Holiday................................. 30
    Emergency fund.......................... 0[b]
    Total monthly expenses.................. 966[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 130000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0[b]
    Total Assets............................ 130000[/b]
    [b]
    No Secured nor Hire Purchase Debts[/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    Credit card....................2350......60........0[b]
    Total unsecured debts..........2350......60........-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 1,740
    Expenses (including HP & secured debts). 966
    Available for debt repayments........... 774
    Monthly UNsecured debt repayments....... 60[b]
    Amount left after debt repayments....... 714[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 130,000
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -2,350[b]
    Net Assets.............................. 127,650[/b]

    [i]Created using the SOA calculator at www.LemonFool.co.uk.
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
    Credit card 2031
    Overdraft 195

    2026 EF 0/3000
  • itsthelittlethings
    itsthelittlethings Posts: 1,729 Forumite
    1,000 Posts Second Anniversary Name Dropper
    I’m going to try and wait until the end of the month and then throw £550 at debt.
    Credit card 2031
    Overdraft 195

    2026 EF 0/3000
  • MFWannabe
    MFWannabe Posts: 2,502 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    itsthelittlethings said:
    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household........... 1
    Number of children in household......... 
    Number of cars owned.................... [b]

    Monthly Income Details[/b]
    Monthly income after tax................ 1740
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0[b]
    Total monthly income.................... 1740[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 0 - I assume you own your property as no figure in here? 
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 150
    Council tax............................. 147
    Electricity............................. 88
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 15
    TV Licence.............................. 15
    Satellite/Cable TV...................... 0
    Internet Services....................... 23
    Groceries etc. ......................... 275
    Clothing................................ 50 - Is this realistic or do you normally spend more than this? 
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 25
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 11
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 7
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 25
    Haircuts................................ 55. - per month? That’s very high 
    Entertainment........................... 50 - Is this correct? Seems very low 
    Holiday................................. 30 - Is this correct? Seems very low. Only £360 per year? 
    Emergency fund.......................... 0[b] -  You need to put something in here and start building an emergency fund 
    Total monthly expenses.................. 966[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 130000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0[b]
    Total Assets............................ 130000[/b]
    [b]
    No Secured nor Hire Purchase Debts[/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    Credit card....................2350......60........0[b]
    Total unsecured debts..........2350......60........-  [/b] Your overdraft is not listed here? 

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 1,740
    Expenses (including HP & secured debts). 966
    Available for debt repayments........... 774
    Monthly UNsecured debt repayments....... 60[b]
    Amount left after debt repayments....... 714[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 130,000
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -2,350[b]
    Net Assets.............................. 127,650[/b]

    [i]Created using the SOA calculator at www.LemonFool.co.uk.
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
    Hi
    I’ve made some comments above in your soa. 
    I think you need to make some adjustments as some of the figures I would say are unrealistic 
    Your budget needs to factor in everything and be achievable so you stick to it 
    Quite often in your posts you say you’ve spend x while out 
    MFW 2025 #50: £1989.73/£6000

    12/08/25: Mortgage: £62,500.00
    12/06/25: Mortgage: £65,000.00
    07/03/25: Mortgage: £67,000.00
    18/01/25: Mortgage: £68,500.14
    27/12/24: Mortgage: £69,278.38 

    27/12/24: Debt: £0 🥳😁
    27/12/24: Savings: £12,000

    12/08/25: Savings: £12,000



  • Saver73
    Saver73 Posts: 201 Forumite
    100 Posts Second Anniversary Photogenic Name Dropper
    edited 23 November at 10:26AM
    hi @itsthelittlethings
    In your post of 19 Nov you said you had £10 in your account and had done a £65 Waitrose shop on the credit card.
    in your post today with the updated SOA it suggests you have a balance of £714 at month end?
    There have been many suggestions and money saving tips before from posters.
    It would be a good idea to put some money aside into an emergency fund especially now you don't have the credit card as a back up.
    How would you manage if a big expense crops up or if you lose your job and can't find a new job immediately?
    Your thread is a diary of your spending! 🙂

    Edit - also you haven't included anything for subscriptions, you mention Netflix and Motion.  I think you need to add a bit more for travel as you paid £26 for a train ticket earlier in the month.
    Have a think about downloading your bank statements - it is eye opening!

  • itsthelittlethings
    itsthelittlethings Posts: 1,729 Forumite
    1,000 Posts Second Anniversary Name Dropper
    I have organised boiler cover to start on 1st December. I got the one that covers home electrics as my flat is electric only.
    Credit card 2031
    Overdraft 195

    2026 EF 0/3000
  • Saver73
    Saver73 Posts: 201 Forumite
    100 Posts Second Anniversary Photogenic Name Dropper
    edited 23 November at 7:16PM
    Also I think you need to add categories and figures to account for Christmas presents (you mention in an earlier post you have budgeted £130 but include £25 in your SOA. Does that include birthdays and Christmas?) Also a category for sports and leisure as you mention buying a gym day pass and yoga classes a few times...

    It often works out cheaper to pay a monthly membership if you use the gym or go to fitness classes regularly.  I go on average 3 times a week which works out at around £5 each time, if I paid per class/gym visit depending on the time of day it would cost between £7 and £9.

    There are lots of ways you could save money to pay off your debt, save for your goals and dreams, and still be able to spend on some of the things you enjoy.

    I'd say an emergency fund is a priority as well as the credit card debt.

    Your SOA suggests you are paying £60 a month off the credit card which would take around 39 months to pay off?

    I have lived through the reality of losing my job and having the emergency fund really did make a huge difference during this  stressful situation.

  • itsthelittlethings
    itsthelittlethings Posts: 1,729 Forumite
    1,000 Posts Second Anniversary Name Dropper
    MFWannabe said:
    itsthelittlethings said:
    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household........... 1
    Number of children in household......... 
    Number of cars owned.................... [b]

    Monthly Income Details[/b]
    Monthly income after tax................ 1740
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0[b]
    Total monthly income.................... 1740[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 0 - I assume you own your property as no figure in here? 
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 150
    Council tax............................. 147
    Electricity............................. 88
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 15
    TV Licence.............................. 15
    Satellite/Cable TV...................... 0
    Internet Services....................... 23
    Groceries etc. ......................... 275
    Clothing................................ 50 - Is this realistic or do you normally spend more than this? 
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 25
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 11
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 7
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 25
    Haircuts................................ 55. - per month? That’s very high 
    Entertainment........................... 50 - Is this correct? Seems very low 
    Holiday................................. 30 - Is this correct? Seems very low. Only £360 per year? 
    Emergency fund.......................... 0[b] -  You need to put something in here and start building an emergency fund 
    Total monthly expenses.................. 966[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 130000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0[b]
    Total Assets............................ 130000[/b]
    [b]
    No Secured nor Hire Purchase Debts[/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    Credit card....................2350......60........0[b]
    Total unsecured debts..........2350......60........-  [/b] Your overdraft is not listed here? 

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 1,740
    Expenses (including HP & secured debts). 966
    Available for debt repayments........... 774
    Monthly UNsecured debt repayments....... 60[b]
    Amount left after debt repayments....... 714[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 130,000
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -2,350[b]
    Net Assets.............................. 127,650[/b]

    [i]Created using the SOA calculator at www.LemonFool.co.uk.
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
    Hi
    I’ve made some comments above in your soa. 
    I think you need to make some adjustments as some of the figures I would say are unrealistic 
    Your budget needs to factor in everything and be achievable so you stick to it 
    Quite often in your posts you say you’ve spend x while out 
    Your comments are completely correct. I would say my SOA should show net +£100 spending taking this on board.
    Credit card 2031
    Overdraft 195

    2026 EF 0/3000
  • Saver73
    Saver73 Posts: 201 Forumite
    100 Posts Second Anniversary Photogenic Name Dropper
    itsthelittlethings said:
    I have organised boiler cover to start on 1st December. I got the one that covers home electrics as my flat is electric only.
    Is this in your budget?! 🙂
  • MFWannabe
    MFWannabe Posts: 2,502 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 23 November at 12:22PM
    itsthelittlethings said:
    MFWannabe said:
    itsthelittlethings said:
    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household........... 1
    Number of children in household......... 
    Number of cars owned.................... [b]

    Monthly Income Details[/b]
    Monthly income after tax................ 1740
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0[b]
    Total monthly income.................... 1740[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 0 - I assume you own your property as no figure in here? 
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 150
    Council tax............................. 147
    Electricity............................. 88
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 15
    TV Licence.............................. 15
    Satellite/Cable TV...................... 0
    Internet Services....................... 23
    Groceries etc. ......................... 275
    Clothing................................ 50 - Is this realistic or do you normally spend more than this? 
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 25
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 11
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 7
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 25
    Haircuts................................ 55. - per month? That’s very high 
    Entertainment........................... 50 - Is this correct? Seems very low 
    Holiday................................. 30 - Is this correct? Seems very low. Only £360 per year? 
    Emergency fund.......................... 0[b] -  You need to put something in here and start building an emergency fund 
    Total monthly expenses.................. 966[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 130000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0[b]
    Total Assets............................ 130000[/b]
    [b]
    No Secured nor Hire Purchase Debts[/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    Credit card....................2350......60........0[b]
    Total unsecured debts..........2350......60........-  [/b] Your overdraft is not listed here? 

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 1,740
    Expenses (including HP & secured debts). 966
    Available for debt repayments........... 774
    Monthly UNsecured debt repayments....... 60[b]
    Amount left after debt repayments....... 714[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 130,000
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -2,350[b]
    Net Assets.............................. 127,650[/b]

    [i]Created using the SOA calculator at www.LemonFool.co.uk.
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
    Hi
    I’ve made some comments above in your soa. 
    I think you need to make some adjustments as some of the figures I would say are unrealistic 
    Your budget needs to factor in everything and be achievable so you stick to it 
    Quite often in your posts you say you’ve spend x while out 
    Your comments are completely correct. I would say my SOA should show net +£100 spending taking this on board.
    Think you need to redo with correct figures and ensure you list absolutely everything; there’s nothing down for any of the subscriptions you have for instance 
    Today you’ve taken out another one; boiler cover ( just after saying you weren’t taking out any more 🙃)
    You’ve just had eyebrows done; which pot covers this? 
    You need to go through bank statements to see what you are really spending 
    Is the credit card 0%? How long for? 
    MFW 2025 #50: £1989.73/£6000

    12/08/25: Mortgage: £62,500.00
    12/06/25: Mortgage: £65,000.00
    07/03/25: Mortgage: £67,000.00
    18/01/25: Mortgage: £68,500.14
    27/12/24: Mortgage: £69,278.38 

    27/12/24: Debt: £0 🥳😁
    27/12/24: Savings: £12,000

    12/08/25: Savings: £12,000



  • itsthelittlethings
    itsthelittlethings Posts: 1,729 Forumite
    1,000 Posts Second Anniversary Name Dropper
    edited 23 November at 4:05PM
    I lived without heating for a winter when my heater broke which somehow wasn’t too bad although I cannot imagine doing it now. This was not due to lack of funds but due to an inability to get a work person to actually do the work. I had the money in my bank account all the time and paid for the work when I finally had it done.

    I am not prepared to live without hot showers or to have to cope with water p***ing out of the boiler everywhere and causing a flood.

    Oh I didn’t share the other good news. Just as I start paying £50/ month towards the last Section 20 notice another one comes through for the same amount.

    However I have a long term plan for the emergency fund. If I stick at my job I may get a Christmas bonus next year and that will be my emergency fund.
    Credit card 2031
    Overdraft 195

    2026 EF 0/3000
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