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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:
EmpressSoleil · 08/04/2024 16:10

I haven't added it up exactly, very roughly, but looks like your outgoings come in at around £3000, so you should have around £1000 left each month? Not sure what the problem is? If anything, I'd be putting more than £160 a month into savings.

Yearendjoy · 08/04/2024 16:09

Train and car payments come to over £800. That's massive. Could you not sell the car and buy a cheap one outright? That would get rid of the monthly car payment of approx £200 at least.
I assume nothing can be done about the huge train cost each month?

FunLurker · 08/04/2024 16:08

What's ring?
Do you need amazon music? If you get prime without do you need Netflix?

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

Rosesanddaisies1 · 08/04/2024 16:07

All seems pretty standard - but what is Mortgage protection insurance - £47.63? Is that life insurance and/or income protection? Our life insurance is only £20 total for separate policies.

Yes it is income protection, not life insurance.

OP posts:
Original poster
itsalentilsone · 08/04/2024 16:07

Luckycloverz · 08/04/2024 15:54

Do you really need tv license and netflix?
Double check no better new deals for Internet/phone plans.

Not sure what else you can do all looks fine, unless you're going out a lot and you've not added those costs.

Edited

Perhaps not! Going to look into this. Thank you

OP posts:
Rosesanddaisies1 · 08/04/2024 16:07

All seems pretty standard - but what is Mortgage protection insurance - £47.63? Is that life insurance and/or income protection? Our life insurance is only £20 total for separate policies.

Original poster
itsalentilsone · 08/04/2024 16:05

TheFlis · 08/04/2024 15:58

I assume you will be earning more when you stop being a student in 3 months? If so I wouldn’t worry too much for now, you’re covering your bills and still saving a bit which is a decent position to be in while you are not at your maximum earning level.

Yes hopefully. I should be!

OP posts:
Original poster
itsalentilsone · 08/04/2024 16:05

Mogloveseggs · 08/04/2024 15:58

Only thing I can suggest which is a tiny saving is change netflix to the £4.99 with ads. They don't last 30 seconds and we've hardly noticed them.

Yes definitely going to look into this - especially now we know (from you) that the ads are so short. Thanks for this :)

OP posts:
Mogloveseggs · 08/04/2024 15:58

Only thing I can suggest which is a tiny saving is change netflix to the £4.99 with ads. They don't last 30 seconds and we've hardly noticed them.

TheFlis · 08/04/2024 15:58

I assume you will be earning more when you stop being a student in 3 months? If so I wouldn’t worry too much for now, you’re covering your bills and still saving a bit which is a decent position to be in while you are not at your maximum earning level.

Original poster
itsalentilsone · 08/04/2024 15:56

flummingbird · 08/04/2024 15:53

yes your bills all seem fine - when the phone contracts expire you can go to a rolling sim only deal, you've still got £1100 left over that isn't accounted for there so I don't see that you're struggling particularly?

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.

OP posts:
CheshireDing · 08/04/2024 15:55

Well there is not a lot which can be cut, except the last group of payments on your list. I don't know what an oura ring is but it's not going to make much difference to your payments anyway

your service charge is very high unfortunately. Is it to clear a shortfall in the service charge accounts, otherwise it could be a sticking point in the future when you try to sell

Original poster
itsalentilsone · 08/04/2024 15:54

diiidum · 08/04/2024 15:49

Hard to say without what the private payment is.

On the whole it’s ok, your grocery shop is really cheap.

Help to buy was such a scam, wasn’t it? That loan is something else - so is the service charge! Bloody hell!

The service charge is extortionate, yes! It is difficult to see where the service charge money is spent, and at nearly £2,000 per year it should be evident IMO. That is something we want to look into.

The HTB loan repayment will be coming to an end shortly so that £93.24 will 'go' but our mortgage will increase by around the same amount so we will not be any better off in real terms.

We do our grocery shop at ALDI, recently made the switch from Sainsbury's.

OP posts:
Luckycloverz · 08/04/2024 15:54

Do you really need tv license and netflix?
Double check no better new deals for Internet/phone plans.

Not sure what else you can do all looks fine, unless you're going out a lot and you've not added those costs.

flummingbird · 08/04/2024 15:53

yes your bills all seem fine - when the phone contracts expire you can go to a rolling sim only deal, you've still got £1100 left over that isn't accounted for there so I don't see that you're struggling particularly?

fieldsofbutterflies · 08/04/2024 15:51

Your mortgage, help-to-buy loan, service charge and car payment take up a massive proportion of your income, as does DP's train fare, but presumably none of them can be reduced or got rid of either.

Your actual bills seem perfectly fine to me.

diiidum · 08/04/2024 15:49

Hard to say without what the private payment is.

On the whole it’s ok, your grocery shop is really cheap.

Help to buy was such a scam, wasn’t it? That loan is something else - so is the service charge! Bloody hell!

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