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Original poster

Do our household bills sound reasonable? What could be lower?

92 replies

itsalentilsone · 08/04/2024 15:48

Just two of us (me and DP) living together in a 2 bed flat in South East. I am currently a student but that will be coming to an end in the next 3 months. We are trying hard to cut costs where we can and have been going over our finances to see where we can make savings. Any thoughts on what looks expensive or unnecessary would be much appreciated. Thanks!

Income:
£4,067

Monthly outgoings:
Mortgage - £765.65
Mortgage protection insurance - £47.63
Help to Buy loan - £93.24
Service charge - £188.32
Gas - £55
Electricity £42
Water - £18
Internet - £40
Mobile phone 1 - £18
Mobile phone 2 - £22
Council Tax - £159.37
TV Licence - 13.25

Groceries - £240
Train travel (DP work commute) £477

Petrol - £60
Car payment - £238.74
Car Insurance - £59.32

Netflix - £10.99
Amazon music - £10.99
Oura ring - £5.99
Apple storage - £3
Private / misc payment - £150

Savings direct debit - £160

OP posts:
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Timspam · 09/04/2024 06:54

I hate reading these because they always have loads more money than I do even working full time and overtime, oh look yep over £1k spare each month, hey Ho. Like the TV properly programs, we are with Janet and John both 22, they have £950k and are struggling to find their first home !

calligraphee · 09/04/2024 06:44

The £1k+ per month on leisure is very high IMO.

Cut that to save more or overpay on mortgage.

Gingernurt88 · 09/04/2024 06:35

I'd look at what your interest is on savings Vs your car loan APR. Might be more cost effective if you have the money in savings to pay the car loan off early. You can then build your savings back up.

D0v3Gr3y · 09/04/2024 06:32

What is the problem if you have £1k left over a month?

Daffidale · 09/04/2024 02:16

There’s a bit you can trim on broadband and phones I reckon that might save you £20-30 a month all in
I’d keep the £3 on apple backups if you have iphones
I’d keep the income protection on the mortgage personally, but it’s a personal decision. But you don’t want to lose your home if something awful happens

I’d look at the leisure spending. If you are eating out once a week, just dropping one of those meals out a month will save you £40-50 which is more than you’ll save skimping on essentials. Think about how you can trim there either cutting things out or making cheap swaps. For example lunch at a coffee shop rather than an evening meal. Sticking to soft drinks . Only having one course. Getting a recipe box instead of takeaway/meal out. Cheaper Travelodge’s for weddings. Not buying new outfits. Having friends over rather than going to the pub. Etc etc. whatever it is you do for fun, it’s having that mindset that saving £50 a week is worth it… and being ruthless about whether you are getting value for the £50

RobinEllacotStrike · 08/04/2024 23:21

Give YNAB a trial if you really want to get a proper handle on your finances

kitsuneghost · 08/04/2024 22:13

The car is only temporary once that's paid off you'll feel a bit richer.

Mayflower282 · 08/04/2024 22:03

I personally would get rid of the mortgage insurance, that £570 a year could prob reduce your mortgage term quite significantly. If you’ve got a 25 year mortgage that’s more than £14k saving.

NeedtostopusingMNsomuch · 08/04/2024 22:02

Someone might have mentioned this already but sounds like you need an app like Snoop / YNAB that categorises all your spending so you can track where the extra 1k is going and try to set some budgets around eating out / fun money etc. I would try to save a bit more than you are and move the savings to a high interest account at the start of the month.

Your food shop is incredibly low (I’m in awe at this!) and our gas / electric and council tax total £600 a month so I’m also jealous of that too!

lashy · 08/04/2024 21:58

YouFibre for broadband - approx £20pcm (for YouFibre 150).

Original poster
itsalentilsone · 08/04/2024 21:53

everythinglooksbetterpaintedblack · 08/04/2024 16:22

Netflix can be £7.99 with a basic add free plan
Amazon music could be cheaper as a prime customer

Just made the switch!

OP posts:
Original poster
itsalentilsone · 08/04/2024 21:47

CornishTiger · 08/04/2024 21:22

Did you get 25% single persons discount on your council tax as you are a student? If so this will actually go up.

Edited

Yes, currently get the discount but you are right we will lose the discount in a couple of months time

OP posts:
Original poster
itsalentilsone · 08/04/2024 21:46

Hesma · 08/04/2024 21:29

If you are out of contract change your phone to Lebara. I did and my payment went from £16.50 to £5.00 per month

Here’s a referral code if interested: http://aklam.io/2fBSjw

Great -thanks for the code

OP posts:
Hesma · 08/04/2024 21:29

If you are out of contract change your phone to Lebara. I did and my payment went from £16.50 to £5.00 per month

Here’s a referral code if interested: http://aklam.io/2fBSjw

Follow UI React App

http://aklam.io/2fBSjw

Bjorkdidit · 08/04/2024 21:26

itsalentilsone · 08/04/2024 19:06

Exactly. That is the problem. We have not managed to find a more economical way of saving / backing up our very many photos and documents. I am all ears though if anyone has any suggestions!

Show quote history

Surely you get some free storage? I bet a lot of what you're paying to store is several copies of very similar photos, old downloads etc? Could you have a digital declutter to free up space and stick to free storage?

On your mobiles, that's still quite high. You can get many many Gb for under a tenner a month and roaming. Have a look at ID mobile.

CornishTiger · 08/04/2024 21:22

Did you get 25% single persons discount on your council tax as you are a student? If so this will actually go up.

Original poster
itsalentilsone · 08/04/2024 21:16

JellyIegs · 08/04/2024 19:49

My only real notes are:

• consider the subscription/streaming services you have and if you need all of them.
• I’m sure you could get your internet at least £10 cheaper if you’re out of contract. Sign up to a service like Topcashback and use their comparison tool. We did this to switch from Vodafone to Sky last year and got something like a £60 voucher from topcashback and a £74 cashback from Sky, as well as reducing our bill by £8 per month. Before you buy anything online, see if the seller is on Topcashback.
• be wary of swapping your car for a runabout as PP have suggested. Used cars are pretty expensive at the mo IMO and you could be out of the frying pan and in to the fire in terms of repairs etc.

Very useful! Thank you

OP posts:
Original poster
itsalentilsone · 08/04/2024 21:15

Sharkknife · 08/04/2024 20:08

Have a look at Giffgaff for a SIM only deal, you can vary it each month if you're not using it all

Have a sim only deal!

OP posts:
Sharkknife · 08/04/2024 20:08

Have a look at Giffgaff for a SIM only deal, you can vary it each month if you're not using it all

disneyparis · 08/04/2024 19:53

Biscoffisthebest · 08/04/2024 16:48

Honestly, saving a tenner from getting rid of Netflix is neither here nor there if you’re getting through 1k a month on ‘fun’ money. Look at that first - £11 isn’t going to make much of a different if you cancel it - it’s 1% of your non essentials budget. But you could try to limit your meals out, trips away etc - maybe have 2 quiet weekends a month, meals out to once a month. That would make more of a difference.

exactly
why quibble over £5 a month if you're spending £1000 on discretionary stuff, £250 on a car and > £460 on train

caringcarer · 08/04/2024 19:52

itsalentilsone · 08/04/2024 15:56

Thanks :)
DP is already on sim only deal. That happened in the last week or so. His previous contract was £32pcm and after much shopping around the current £18 for sim only was the best deal that we could find that also met our essential needs re data and some roaming.

Show quote history

Smarty did a £16 pcm for unlimited data, unlimited calls and unlimited text and unlimited tethering with up to 60 days EU usage as UK. Check if it's still available. I got this deal in early April.

JellyIegs · 08/04/2024 19:49

My only real notes are:

• consider the subscription/streaming services you have and if you need all of them.
• I’m sure you could get your internet at least £10 cheaper if you’re out of contract. Sign up to a service like Topcashback and use their comparison tool. We did this to switch from Vodafone to Sky last year and got something like a £60 voucher from topcashback and a £74 cashback from Sky, as well as reducing our bill by £8 per month. Before you buy anything online, see if the seller is on Topcashback.
• be wary of swapping your car for a runabout as PP have suggested. Used cars are pretty expensive at the mo IMO and you could be out of the frying pan and in to the fire in terms of repairs etc.

Original poster
itsalentilsone · 08/04/2024 19:42

MichaelAndEagle · 08/04/2024 19:35

Mine are. But I figured need vs want us sometimes debatable.
Like money for kids to buy lunch - essential? Maybe, but I could make them packed lunches but I don't want to!

So I've accepted some of what I have in essential probably isn't.
But as long as combined it isn't more than 80% I'm ok with that.

Show quote history

Yes that makes sense, and I have come to the same realisation. Strict essentials puts us at around 50% but more realistically it's around 62% I think. Got to have some semblance of a life after all!

OP posts:
Original poster
itsalentilsone · 08/04/2024 19:41

Concannon88 · 08/04/2024 19:35

@itsalentilsone not asking, but if the private payment of 150 is debt/credit card you'd be better off paying that off than saving 160. You can get a cheaper Netflix. I wouldn't have the music and I wouldn't pay for apple storage. Dont know what qura ring is.

It isn't a credit card or debt. We don't use credit cards (at the moment, although have in the past). Heading towards binning off the amazon music subscription. £100+ per year is too expensive

OP posts:
MichaelAndEagle · 08/04/2024 19:35

itsalentilsone · 08/04/2024 19:21

Interesting! Also recently learnt about this. Going to work out our ratio / split now. Problem is that I think our essential costs are already way over 50%.

Show quote history

Mine are. But I figured need vs want us sometimes debatable.
Like money for kids to buy lunch - essential? Maybe, but I could make them packed lunches but I don't want to!

So I've accepted some of what I have in essential probably isn't.
But as long as combined it isn't more than 80% I'm ok with that.