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Now that I can see clearly

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
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  • katsukatsu Forumite
    4.8K posts
    Tenth Anniversary 1,000 Posts Name Dropper Mortgage-free Glee!
    ✭✭✭✭
    1 - where does your surplus go? Look through your bank statements and update your SOA with the details on the other spending.

    2 - the bills you pay annually still need to come from your monthly income. Open a different bank account and save 1/12 of eg your car insurance and then by next year you can afford to pay in full and get a better rate.

    3 - is your council tax paid over say 10 or 11 months? If so, what did you do with that extra money?

    4 - what are you doing that is "entertainment" on your budget above? Could you do it cheaper? Although it is better to find out where all your money goes first, then you know what you are really dealing with.

    5 - mobile phones. Go SIM only at the end of contracts, look at the main site articles for advice on good deals.

    Well done for trying to make sense of this all. You can learn better habits and get debt free :)
    Debt at highest: £8k :eek: Debt Free 31/12/2009 :D (ten years and counting :j). Original MFD May 2036, MF Dec 2018. Save £12k in 2020 member #41
  • Totally agree we should have loads left every month but we never do, always living in the overdraft and some months going over the overdraft!
    Now that I have decided to write down my spending, its making me think twice!
    Today middle child asked me for five pounds to go out with friends and usually I would say yes, today i questioned what it was for and basically crap, so i told her to take snacks out of the cupboard, a packet of crisps and some sweets left over from halloween ( they were still in date!)
    I took left over veggie thai curry in for my lunch and some overnight oats
    I will have another go on the SOA once I have collated all my bank statements together.
    I forgot to add the 125 pounds I paid for the eldest school trip too!
  • Willing2LearnWilling2Learn Forumite
    6.3K posts
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
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    I will have another go on the SOA once I have collated all my bank statements together.
    Good idea to try and track your spending via a diary and through your statements. :)

    It would be good to see a full SOA. Just make sure you fill in all the boxes throughout the online form.
    Then near the bottom of the form you will see the 'Calculate' button which basically adds everything up for you.
    Then underneath the 'Calculate' button there is a 'Format for MSE' button. Give it a click and then the text will be automatically formatted to work properly in the MSE forum
    Then copy and paste the whole lot from their screen into your thread. :)

    (Hope I am not sounding patronising. I'm just trying to be helpful).
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • theoreticatheoretica Forumite
    6.6K posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    Today middle child asked me for five pounds to go out with friends and usually I would say yes, today i questioned what it was for and basically crap, so i told her to take snacks out of the cupboard, a packet of crisps and some sweets left over from halloween ( they were still in date!)


    Teaching your kids to budget is very important, and seeing you budgeting should help them learn.
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
  • not at all Willing2learn, I am totally useless at anything tech related, I am better with needles than Computer! x
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