We got ourselves into a right mess over previous years and are currently paying our debts back through a dmp. I'm a pretty frugal person these days having learnt the hard way and spend very little on frivolities or treats. Honestly I'm quite mean with my money now! Anyway I decided to sit down and do a proper budget tonight as with incomings into our account from 4 sources over 7 occasions monthly it all gets a bit confusing (especially for me!) and I need to make things easier really know exactly where I am with my cash. So, this is what I've come up with-let me know your thoughts! Family of 4 2 adults, 2 dc's both aged 2 (still in nappies) and a dog.
Incomings total monthly-£2068
Outgoings:
dmp-443
tv licence-12.12
pet insurance 9.16
sky (including tv, broadband and phone) just under 100-(this is absolutely we can DEFINATELY save money on this I will be sorting this out asap)
home ins-29.52 (possibly can find cheaper but house leasehold?)
my car ins-29.58
Council tax-76
water -29.65 (would a water meter be cheaper?)
dh car ins-46.36 (yes we have 2 cars not really looking into getting rid of one atm but have found cheaper ins than this (due the end of Jan)
Gas/electric-56 (am underpaying atm as massively overcharged last year will increase but will be looking around for best deal)
opticians (contacts/glasses etc)-20.50 (would love to bring this down not sure how it's done?)
Mortgage-256.63
total -1108.52.
After this I will add in £20 p.m for mine and dh's mobiles (new sims) and £50 to savings. Total outgoings then-1180
My dh gets paid weekly so I was thinking each week draw out in cash £222. Set aside £100 for all meals, nappies, toiletries, inc top up shops. I will start shopping in Aldi again and meal plan inc freezing extra quantities (saving me more the week after) so this may be overestimated but anything left will go into savings. Also set aside £50 petrol for me and dh (again may be an overestimate).
That would leave £36 each we can have to do whatever we want with (haven't done that for a few years!). Piss up the wall or save towards a night out with mates (dh will do former I'll do latter, and I'll prob get the dc's a few things out of it too.
Does this sound reasonable or is there anything I have missed? Or am I selling myself short? Like I said I am really really frugal (these days) and make a lot of 'extra' by selling on Ebay, dedication to answering surveys (I probably make a few hundred annually) so that helps too.
I am so sorry for the format of my essay budget as I know it must make it harder to read (back to school also I think)
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Could you advise me on my budget challenge?
41 replies
minesapintofwine · 11/01/2014 23:29
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