Please advise me financially

[TryASoapBar]

We currently have about £5 (literally) left over after everything is paid for each month. I'm on maternity leave.

I go back to a new job next month. Not only can I afford to work part time in this new job, it's only 18 hours and the money I'll be on makes me weep a little bit. We have been struggling a lot lately.

I'm hoping the wisdom of MN would give me some financial advice if I break down outgoings? It's just me, DS and DH.

Outgoings:

Rent - £930
TV package - £30
Netflix - £10
Spotify - £15
Living room furniture - £30
Gas and eclectic supplier - £110
Loan - £130
My phone - £35
DH's phone - £20
Council Tax - £160
Water bill - £25
Credit car DH - £100
My credit card - £50
Food shopping - £200
DH's vaping stuff - £120

Our new income (monthly), will be £3,200.

Can we realistically afford to save a bit and live comfortably with luxuries?

I'm really not great at estimating. It'll be nice to breathe easily for once :)

£120 on vaping stuff a month? Ouch!

What's he buying? That seems excessive, surely?

Do you have car or travel expenses?
Contents insurance?
Pets?
TV licence?
Broadband?
Life insurance?

Anna I know, tell me about it! Craziness.

That estimate also allows for things like damage repairs and one offs such as a new mod so technically a little overestimated

I make it £1235 left for food and everything else.

How much do you spend on food?

I'm not sure if you're asking on advice on how to cut down your current outgoings, but there are a few things that are alarming especially when you only have £5 left over.

Spotify and Netflix- how necessary are these considering how much you are struggling?

£120 on vaping?! That's a ridiculous amount to spend, if he already has the device then how is he spending this much?

No childcare?

Don't take this the wrong way,
But his partner is on maternity leave belts are tight how is he justifying needing £120 a month to vape away??

I'm still stunned about the vaping stuff. I use mine since I've quit smoking and I'd spend £15/20 a month at a push.

We spend about £60-70 a week on food, realistically.

No travel expenses as such as its deduced from DH's wage already.

I have a new car but that's all inclusive with my motorbility scheme lease.

I pay about £70 a month petrol. Sometimes much less.

No pets.

Apologies, childcare will be £450 a month

Ok so there's another £800 on food travel abd childcare.

£435 left now.

You're spending £280 on debt, have you looked into consolidating this?

RJ She’s already accounted for food - 200. Op if you are asking us where you can save then tv package , Spotify Netflix and vaping are all luxuries

Is your phone on contract and is it ending soon? You can get some very cheap and generous sim only deals.

Is the furniture cost a finance deal or a package deal with the tenancy?

I do agree, £120 on vaping stuff is an awful lot! Could you quit Netflix I know it's only £10 per month but that £120 per year so it does add up.

Vaping, Netflix and Spotify all need to go. You cannot justify spending on those when you are repaying debts at £310 a month and saying you are struggling financially.

Oh, when is your motability due for renewal? I sorted all the forms etc for my relative recently, and a lot of the new cars now have an advance payment requirement of a few 100 quid.

She got the same car, smaller engine than previous and the advance payment was £300. Just thought I’d mention it incase it’s something you need to plan for.

Someone who spends £120 a month and 20/30 on Spotify and Netflix are not people who are genuinely struggling. Get your priorities straight.

Ummm you'd have an extra £150 each month if there was no vaping, Spotify or Netflix. Go to the cinema once a month instead. Watch movie sites. Jesus hardly struggling when you're not down to the bare necessities just yet

Get your DH to try the pound shop liquids, they’re fine and will save a fortune.

Why is vaping costing so much? I used to vape 30quid kit. One or two flavours a month 10

It doesn't really make sense to save when you have credit card debt. In your position I would try to plan in a few small treats now you'll be better off (eg payday takeaway night) and overpay your credit cards agressively. Even setting the loan aside (can you pay that off early?), just looking at your credit cards, once they are cleared you'll have an extra £150 per month. If your fella can quit the vaping too then very soon you'll be able to save over £3k per year, clear the loan and that's even more. If things have been really tight you can enjoy not stressing so much whilst getting yourselves to an even stronger position very soon.

How can you justify spending £120 on a recreational hobby whilst claiming to struggle

Your gas and electric are high. Ours is £80 a month, I’m in all day and have the heating on when I want to because I’m disabled and can’t move about to keep warm

Your DP needs to stop vaping and you need to cut back on Spotify and Netflix

OP has stated later on thatbthe £120 is overestimated to cover for extras as and when they’re needed.