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Crap with money

2 replies

Goforththenorth · 04/08/2023 21:17

DH and I bring home just shy of £5k between us per month (around £4800).

Mortgage £800
Live in a nice area so our council tax is well over £200, energy bills the same like most people, no Sky but broadband, Netflix, Prime etc.
Leased car £300 a month
Low childcare costs as both in school so we only pay about £80 a month for wraparound
DC do quite a few clubs, swimming lessons which adds up

Without fail we're almost in the red every month. We have no debt per say but recently paid for a holiday on an interest free credit card so pay a bit off that each month. All our joint spends like days out, things for the kids, goes on a credit card which is paid off in full every month, but this is always more than £800! Every month we vow to keep this low but It feels like it's always something - if it's not an expensive month socially with meals out etc, it's an expensive month in other ways like the DC need new shoes, coats, new tyres for the car, or it's a birthday, Christmas etc.

Our situation worries me because in a year we need to remortgage and obviously expect it to go up. We also really need a second car.

Do we need a good shaking? How do others manage?

OP posts:
BorneoBound · 04/08/2023 21:40

I have an app called snoop. It gets feeds from the bank and creditcard so I can see all transactions together. You make a budget with pots (eg one for cars, one for mortgage, one for food etc) then it automatically puts all your transactions to the pots (you can create rules, and obviously it learns what goes where). It makes it easy to follow about how much I have to spend for the rest of the month

BorneoBound · 04/08/2023 21:41

I also have separate savings accounts for Xmas / car savings / clothes so the bigger expenses don't effect my monthly outgoings

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