£67,031.92 is a frightening number indeed....
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Yuck, have used credit card for food shopping and diesel. Boo hiss.Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0 -
Fruit harvest sounds wonderful. Can't wait to do something sensible with the apples this year!
I'd echo the earlier comment
Its not pretty but its back to the fact you have limited income versus what you have and want to spend right now. I argued you should have a properly frugal year to balance the books, put a little cash in savings with a view to then easing off when your predicted income rise kicks in in less than a year.
I think you do fantastically well and your obviously entrepreneurial so you should be ok. But there are two bit expenses coming down the road in the next decade:
1. your extension plans which can't be argued with as you need the space but it would be worth keeping in mind alternative properties in a cheaper area you might do a swap or sell up and buy again for a lot less than the building work. Make sure you get good builders - you expect to pay out for things that were unforeseen but not for lazy planning on their part.
2. sadly for you the children just keep getting bigger and therefore more expensive you should build in a percentage increase in cost simply to stand still. My 12 year old is in mens clothes now.
The conclusion is (sadly) that your income needs to be bit more secure or regular and the costs need to be kept to a minimum. I have argued as the other reader before that you need to batten down the hatches for a while until you can get rid of the interest bearing loans and cards - even one substantial one would be good to see go. It will make all the difference but it won't let you live the way you want to.
Sorry to sound like a ogre.0 -
Treadingonplaymobil wrote: »Yuck, have used credit card for food shopping and diesel. Boo hiss.
Aww these things happen, just make a point of pushing to pay the extra off next month. It was sickening putting my car parts of the credit card (and then they had one part out of stock so we cancelled and ordered from somewhere else to save 2 lots of postage nearly maxing out the card until they refunded the old order!)
Remember your making progress, just keep going and you'll get there eventually.DEC GC £463.67/£450
EF- £110/COLOR]/£10000 -
I am always open to more hatch-battening ideas! If there is an obvious way to save anything on my budget I am all ears. The problem that I see is that we are so close to the line that there just isn't actually huge scope to cut back.Fruit harvest sounds wonderful. Can't wait to do something sensible with the apples this year!
I'd echo the earlier comment
Its not pretty but its back to the fact you have limited income versus what you have and want to spend right now. I argued you should have a properly frugal year to balance the books, put a little cash in savings with a view to then easing off when your predicted income rise kicks in in less than a year.
I think you do fantastically well and your obviously entrepreneurial so you should be ok. But there are two bit expenses coming down the road in the next decade:
1. your extension plans which can't be argued with as you need the space but it would be worth keeping in mind alternative properties in a cheaper area you might do a swap or sell up and buy again for a lot less than the building work. Make sure you get good builders - you expect to pay out for things that were unforeseen but not for lazy planning on their part.
2. sadly for you the children just keep getting bigger and therefore more expensive you should build in a percentage increase in cost simply to stand still. My 12 year old is in mens clothes now.
The conclusion is (sadly) that your income needs to be bit more secure or regular and the costs need to be kept to a minimum. I have argued as the other reader before that you need to batten down the hatches for a while until you can get rid of the interest bearing loans and cards - even one substantial one would be good to see go. It will make all the difference but it won't let you live the way you want to.
Sorry to sound like a ogre.
I don't mean this just to you, but to anyone reading. It's easy to look at things we should have done pre-LBM (committed to fewer things this summer etc), but what's done is done, and aside from learning the lessons, there's no money to be saved by revisiting past spends/commitments. However, looking forward I am open to any suggestions that will reduce our outgoings, because I'm not seeing anything.
Obviously I'm learning lessons on managing the flow of cash from my business to my personal account, but aside from that I can't see any huge improvements to be made until my income (hopefully) rises once DC3 is in preschool.Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0 -
Fingers crossed I earn enough this/next month to clear it all!Aww these things happen, just make a point of pushing to pay the extra off next month. It was sickening putting my car parts of the credit card (and then they had one part out of stock so we cancelled and ordered from somewhere else to save 2 lots of postage nearly maxing out the card until they refunded the old order!)
Remember your making progress, just keep going and you'll get there eventually.Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0 -
It's a learning curve, don't beat yourself up. We are all here learning to do better with our finances.DEC GC £463.67/£450
EF- £110/COLOR]/£10000 -
I'm seconding the apple braid being excellent, I used to make that too.
If i could time travel.....My mortgage free diary: https://forums.moneysavingexpert.com/discussion/6498069/whoops-here-comes-the-cheese0 -
Treadingonplaymobil wrote: »I am always open to more hatch-battening ideas! If there is an obvious way to save anything on my budget I am all ears. The problem that I see is that we are so close to the line that there just isn't actually huge scope to cut back.
I don't mean this just to you, but to anyone reading. It's easy to look at things we should have done pre-LBM (committed to fewer things this summer etc), but what's done is done, and aside from learning the lessons, there's no money to be saved by revisiting past spends/commitments. However, looking forward I am open to any suggestions that will reduce our outgoings, because I'm not seeing anything.
Obviously I'm learning lessons on managing the flow of cash from my business to my personal account, but aside from that I can't see any huge improvements to be made until my income (hopefully) rises once DC3 is in preschool.
If you're like many, its very tempting to book another holiday as soon as you're no longer looking forward to one - that's looming for you. That's why I was revisiting a bit , to keep it in focus.
PS And I'm pretty sure you made some of the commitments AFTER lbm not before lol :rotfl:0 -
Two of the camping trips, yes, at a princely total of £110 for both (and free entertainment for the DC, without even paying for extortionate beach parking). I'm happy that avoiding those wouldn't have saved the budget this month, that was way too far gone! The mistakes were the more pricey commitments pre-LBM; the imminent family holiday and one of the camping trips (with friends).If you're like many, its very tempting to book another holiday as soon as you're no longer looking forward to one - that's looming for you. That's why I was revisiting a bit , to keep it in focus.
PS And I'm pretty sure you made some of the commitments AFTER lbm not before lol :rotfl:
I'm actually, despite the disaster that is this month, not completely unhappy; I've learnt that we need to put some money by for summer hols, that we need to think through our long term holiday commitments, and we've spent amazingly little so far this summer in total - not a single 'attraction' day out, very very few cafe type trips and a pretty well managed food budget. It will be even better next year, but barring any expensive disasters over the coming fortnight, I think we've done really rather well.
(where's a 'modest' emoji when you need it?! 
) Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0 -
I think you have done very well and seem very determined.
Where are you off to on holiday? U.K. Or abroad? Do you need spending money?0
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