Wendy's "To get it out of my head" Diary

in Debt free diaries
630 replies 17.4K views
Hello

Ive been toying with the idea of my own diary for a while to help when I cant stop thinking about something and to track my progress and any blips. I am in overspend on my Budget for allowing some luxeries (sp) just need to make sure not too many! I have had depression on and off for years so I dont want to be too strict on myself but at the same time when I have used that excuse in the past I have gone OTT hense where I am today. LBM has been on and off for years as with many on this board. This time it appears to be a nice low energy one that should last a whole lot longer.

SOA

Income:
Wages £1335
Child Benefit £170 (3 kids)
Tax credit - £25 currently £47 a week but this will reduce alot next year so budgeting less.
OH £100 and possibly another £30 on top for the car repairs (OH on benefits and has own DMP to pay he does contribute to extra groceries and childrens treats etc)
TOTAL £1630

Outgoing:
Rent £430
CTax £131 [strike]£140 [/strike][strike](currently £126 guestimate of increase due [/strike]- intend to stick to 10 months)
Home Insurance £15 (just redone)
Water £28
TV £12
SKY £55 -£43 three month deal till 3rd June, will then cancel movies and a mix saving £7- Complete luxury but OH would be up in arms and its cheaper than a new childminder!
Gas: £25
Electric: £40 - just switched both to EON and expecting £70 from quidco with then change back
Milk £12 cancelled
Barandos and Lifeboats £8 cancelled +£3
Phone and Broadband £30 - aim for £25
Groceries for five £300 - aim £250
Lunches - monthly work spend - £50 - aim to keep this a lot lower
American life Ins (ref cancer a worry of mine) £6
Love Film £4 - to be cancelled cancelled
Brownies/Guides/ School £30 - again would like to be lower B & G fairly new so not 100% sure of costs yet. OH helps out on these as well. £20 so far and another £22 due eek
Catalogue £50
Loan £224
Petrol £30 feb £21
Total £1492

Balance £138 times 12 =£1656
Yearly budgets - This is where I need to start a spending diary alot is guess work

Xmas Savings Club:£500 (also time MOT and service due so aim high with this) £200 so far
Car Tax yearly: £180
MOT & Service yearly: £150
Repairs yearly budget: £300
Birthdays yearly budget:£300
Holidays £1000 including spends £116 paid
Car Insurance £600 guestimate (OH new driver and me bump prone :o )
Hairdressers £70 for all £40 spent already:eek:
Clothes £200 £70 spent on kids so far
RAC £100 - hopefully less this year not due till end of year
Total £3400

Shortfall £1744 - to be covered by underspending on budgets, quidco £85 due, pigsback £7.32 & yearly bonus money saving madness £39.83

This is far too long a post so will call it quits for now. Thanks if you have got this far!
:j
May 2013 new beginnings:j
«13456763

Replies

  • SOA

    Income:
    Wages £1335
    Child Benefit £170 (3 kids)
    Tax credit - £25 currently £47 a week but this will reduce alot next year so budgeting less.
    OH £100 and possibly another £30 on top for the car repairs (OH on benefits and has own DMP to pay he does contribute to extra groceries and childrens treats etc)
    TOTAL £1630

    Outgoing:
    Rent £430
    CTax £140 (currently £126 guestimate of increase due - intend to stick to 10 months)
    Home Insurance £15 (just redone)
    Water £28
    TV £12
    SKY £55 - Complete luxery (sorry really cant spell this word) but OH would be up in arms and its cheaper than a new childminder!If uour OH is really serious about helping you pay off these debts, this is a huge change he could make to help you save-at £600 a year, it would make a big impact on your shortfall. Freeview has a lot of the same stuff
    Gas: £25
    Electric: £40 - just switched both to EON and expecting £70 from quidco with then change back
    Milk £12 If this is from a milkman, can you cancel while you get yourself sorted out and buy this with the rest of your shopping?
    Barandos and Lifeboats £8+£3 Cancel these until you are back on feet
    Phone and Broadband £30 - aim for £25 That sounds realistic
    Groceries for five £300 - aim £250 When you get the hang of OS, I bet you reset your target to £200
    Lunches - monthly work spend - £50 - aim to keep this a lot lower Good-take sandwiches, cup a soup, pasta salads, leftovers etc
    American life Ins (ref cancer a worry of mine) £6 Fair enough
    Love Film £4 - to be cancelled Good
    Brownies/Guides/ School £30 - again would like to be lower B & G fairly new so not 100% sure of costs yet. OH helps out on these as well.
    Catalogue £50
    Loan £224
    Petrol £30
    Total £1492

    Balance £138 times 12 =£1656
    Yearly budgets - This is where I need to start a spending diary alot is guess work

    Xmas Savings Club:£500 (also time MOT and service due so aim high with this)
    Car Tax yearly: £180
    MOT & Service yearly: £150
    Repairs yearly budget: £300
    Birthdays yearly budget:£300
    Holidays £1000 including spends
    Car Insurance £600 guestimate (OH new driver and me bump prone :o )
    Hairdressers £70 for all
    Clothes £200
    RAC £100 - hopefully less this year not due till end of year
    Total £3400

    Shortfall £1744 - to be covered by underspending on budgets, quidco, pigsback & yearly bonus

    Pigsback, quidco, tightening up your budget etc are good ways of meeting this shortfall-if you make the cutbacks suggested above, you will be able to start clearing your debt much faster. A spending diary would be a good idea too. Good luck! x
  • Keeping_PositiveKeeping_Positive Forumite
    4.8K Posts
    Part of the Furniture 1,000 Posts Combo Breaker PPI Party Pooper
    Forumite
    Thanks Miss Eyre

    I agree Sky is an ideal place to cut and I have threatened it some many times. My OH stays at home with kids and this is his only entertainment, He doesnt go out or drink and is a sports nut he really does get use from the channels. A long story really but a the mo I will perserve with Sky but if things do start looking tight I will cut or get him to stretch his budget to compensate.

    Will think about Milk because we now have a local so shouldnt be as much hassle to go to the shop which was Tescos and cost a fortune in extras
    :j
    May 2013 new beginnings:j
  • I agree with miss eyre but would ditch the life insurance or see if you can get cheaper - they are relying on people fear to buy it!
    Sky is a luxury bearing in mind that you have no money as are lunches at work! Just thing what a huge difference you could both make if you cut those! Do you have to have a car or could you do without - its a big expense and if you could manage without would leave you much better off? Dont know if that helps?
    Congruatuations o your new diary - I find mine helps with ramblings & to focus the mind when I'm off on one!!
    Nerd no 109 Long haulers supporters DFW #1! Even in the darkest moments, love and hope are always possible.

  • penguin83penguin83 Forumite
    4.8K Posts
    Part of the Furniture Combo Breaker
    Forumite
    Hi Wendy

    Agree with everyone else. The only other thing I noticed was that your holiday budget is quite high at £1000.00 py. Could you next these in the head for a year or 2 and maybe have a cheap weekend away instead? It would cover a lot of your yearly shortfall x x
    Pay Debt by Xmas 16 - 0/12000
    There is something about the outside of a horse that is good for the inside of a man.
  • Keeping_PositiveKeeping_Positive Forumite
    4.8K Posts
    Part of the Furniture 1,000 Posts Combo Breaker PPI Party Pooper
    Forumite
    The car is toughie as well alot of the time I am fighting/in dispute with my OH about things. Its taken a long time to get anthing out of him so I am so happy to get the £100 a month. Before it was just my income for all outgoings.

    I am lucky to have a company car (all expences paid except personal petrol)that he should be able to drive by mid may. The other car my Mum paid for so if sold any monies would go back to her. I can here it now if I say sell it. He will huff and sulk and I dont know what to do. I will be taking away his independance. Leaving him with no car and three kids to look after (I drive alot for work so will have it during the week) etc etc. Pretty much what I get when I mention Sky.
    :j
    May 2013 new beginnings:j
  • How about just sitting down, showing him the budget (or this thread) so he can see how tight things are and then possibly compromise - sky or hols! Plus show you are willing to do your bit by not having lunches out?
    Nerd no 109 Long haulers supporters DFW #1! Even in the darkest moments, love and hope are always possible.

  • Keeping_PositiveKeeping_Positive Forumite
    4.8K Posts
    Part of the Furniture 1,000 Posts Combo Breaker PPI Party Pooper
    Forumite
    Yes £1000 high didnt realise budget was quite as tight unitl I wrote it down lol!

    £382 for caravan/pitch (two breaks booked) and £500-600 spending planned but will cut this back if budget not going to plan.

    Sorry dont mean to sound negative at any of your suggestions, I do appreciate them and they are all valid points that I have been thinking about. Which is why I needed to get it all down on paper. Aim is to think ahead but mainly to stick to a monthly budget and keep it below where possible.
    :j
    May 2013 new beginnings:j
  • penguin83penguin83 Forumite
    4.8K Posts
    Part of the Furniture Combo Breaker
    Forumite
    Don't worry Wendy you are not being negative but it can help to get a fresh pair of eyes over things. When I posted my SOA I put that I spend £400.00 a month on my horse (which is true) to me that seemed normal but obviously not to everyone! Everyone has a different perspective on things - thats why its so good here. x x x
    Pay Debt by Xmas 16 - 0/12000
    There is something about the outside of a horse that is good for the inside of a man.
  • Keeping_PositiveKeeping_Positive Forumite
    4.8K Posts
    Part of the Furniture 1,000 Posts Combo Breaker PPI Party Pooper
    Forumite
    Progress so far

    Cancelled Barnados, will cancel Milk and Lovefilm tomorrow which will save £288 a year. If I can cut monthly lunch spend by £20, groceries by £50 and phone by £5 then that will save a further £900 a year.

    £1744-1188 = £556 still to go. Bonus wil help should be circa at least £500 but not really sure as they have changed it this year.

    Still room for manover in holiday spend (my wish for two hols not his) and have shares as back up for for any real emergencies. Dont want to rely on these in yearly budget or they will be wasted and only a short supply.
    :j
    May 2013 new beginnings:j
  • Keeping_PositiveKeeping_Positive Forumite
    4.8K Posts
    Part of the Furniture 1,000 Posts Combo Breaker PPI Party Pooper
    Forumite
    Right although I have come home for lunch to save money but I have already spent £20 today:eek: .

    £10 deposit for bowling friday and then a meal on top. May see if I can cancel the bowling bit and just do meal. Rubbish anyway dont want another wooden spoon :p .

    £10 on second hand clothes that wont fit for at least a year but I guess Ill class it as a long term investment.

    Also wasted petrol by leaving (work) phone at home. Need to start walking in when in the office or work from home more. This should save a bit of petrol.

    Spent £12 all on kids yesterday. £10 for my baby boy, its not often he gets to go out with out the big sisters, £1 tooth fairy and £1 church service donation for the girls.
    :j
    May 2013 new beginnings:j
Sign In or Register to comment.
Latest MSE News and Guides

Boost your Nectar points

Get up to £25 this Saturday

MSE News

Preparing for summer

What MoneySaving things can you do now to get ready?

MSE Forum

Hot Diamonds 40% off code

Including already-reduced outlet stock

MSE Deals