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I need help!

(3 Posts)
Icklepickle101 Thu 11-Aug-16 10:55:29

I'm on maternity leave and bought my first house with Dp earlier this year and have been putting off sorting out money things since we DS was born (6 months) and I'm worried it's all starting to get out of control.

We have a small (I think it's classed as small?!) amount of debt between us and no savings.

I religiously pay £50 off my credit card every month and have about £1000 left to go and then between me and DP we probably have about £800 on other things- Very, old bills etc.

I want to have some savings as a safety net, and try and put some money away for DS and a little holiday next year would be lovely and we hope to get married in the next 5 years but we never seem to have any money at the end of the month!!

I need to get myself in a better financial situation but I have no idea where to start!! most of my bills (phone, very etc) aren't on direct debits so find it hard to track what money is where.

Hoppinggreen Thu 11-Aug-16 11:03:10

Work out all your fixed outgoing, phone, mortgage , gas and electric etc.
Set up a separate account and transfer what you need in there (plus a bit more)as soon as you get paid. Set up direct debits from that account.
From what's left set a budget fir everything else such as food, travel etc and stick to that.

Drowzeee Thu 11-Aug-16 11:18:17

I would concentrate on clearing the debts first, before you start saving. Once they are gone you will have a better idea of how much spare you have available to save.

I also agree with the previous poster, set up DD's for your bills etc, that will help you keep track.

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