Are you also experiencing the same % of life cost increase or am i doing something wrong?

[Civitavecchia]

Looking at my bank balance and outgoings...
In the last few months we are spending circa 15/20% more of total spending per month. Basically we were able to save something every month and now we are not able anymore.
I cannot pinpoint exactly where is the issue. Groceries, fuel, energy, childcare, holidays...everything went up.

Are you also experiencing a general 15/20% increase or are we doing something wrong?

You're not alone. Absolutely everything that we weren't able to fix seems to be up by at least 10% and often much more.

Yes exactly the same here.

I felt honestly a bit panicking. It is very difficult also to understand: were we not being careful enough? What can we do to go back to our 15% saving per month? Is it even possible to go back to that rate?

Unless you’ve been living under a rock you would have been aware of this surely. Everything is going up. Everything is predicted to go up a lot more.

This is how it is. Although the overall inflation number reported in the news is in the region of 10% (expected to go higher), it is much higher on some things including food and energy. Each household has a slightly different inflation/cost increase %.

When costs go up you have two choices, and can pitch it someshere between the two:
-reduce the amount/number/unit price of things you buy to keep spending the same level
-continue to buy the same amount/number of things at the new unit price and accept they cost more (reducing surplus (savings) or using credit/new income stream)

Each family must make this 'choice' which of course for some is no choice at all - if you are already close to the edge or already over it the only option is for costs to rise as no cuts can be made.

If you want to save the amount you saved before, you will have to reduce the number/amount of things you buy.

What do you buy currently and what can you stop buying or downgrade to a cheaper option? You need a comprehensive budget and to make ad ecision about whether saving or lifestyle is your current priority.

Yes, us too. So many things have crept up. Off the top of my head, in the last few weeks:

-Rent £850 to £900

• Breakdown cover £12 to £17
• Gas and electric, upped my DD by £100
• Car insurance renewal up by £7 a month (the first renewal in years where the price has risen and comparison sites have failed to throw up a cheaper option).
• Dc's swimming lessons, £25 to £30.
• Dc's football subs £12 to £16
• Holiday club for Dc3 was £35 a day instead of the £29 it cost in May half term.

These are just off the top of my head, there are probably others - and of course that's not even including food/other goods increasing. Plus the £100 extra on energy probably won't be enough and we'll still need to make additional ad hoc payments at some point.

Unless you’ve been living under a rock you would have been aware of this surely. Everything is going up. Everything is predicted to go up a lot more.

I agree. Has this come as a surprise OP?

Absolutely not a surprise. But the reported value on the news is normally 5 to 10%.
According to my bank account is 15 to 20%
I was wondering if anyone else was experiencing the same or if we clearly f*cke up something in the last weeks.

It's crazy how much fuel has impacted everything, even though logically it makes sense ie its needed to cultivate, produce and transport food and for the supermarkets to keep the food cool/have the lights on etc. The scary thing I think is just where its going to end. We have enjoyed cheap food here for a long time, but along with everything else it's wild how much the bill is going up week on week.

No your figures will be right but you do have a buffer which is your monthly savings, many do not. So you will need to make some choices about where the cuts are made eg food choices, kids subs, savings etc.

I think the news is now saying 10% and upwards. Also Im not sure, but I don’t think the national inflation figures include things like kids activities, if not then you will experience higher than average inflation.

The news says 10%, we experience 20%.

What the hell happens next year when the new is saying 20%? I am guessing we've not seen the worst yet.

Not least because Putin the War Elf has just cut the line for good and is no longer pretending about some bullshit leak.

It affects households differently depending on the proportion of your spending on different categories of outgoings and the seperate increases on those aspects. So fot eample people on a variable rate mortgage vs a fixed , or people with solar power vs gas/electric, those paying childcare costs vs those not. Cost are not all increasing by the same % so hence there will be a 'personal' aspect to the cost ofliving increases that a national average can't show.

Have a look at this to see if this helps work out where most of your increase are coming from:
www.theguardian.com/money/2022/aug/25/personal-inflation-rate-calculator-uk-price-rises-2022

Food petrol and utilities have gone up. However I now only use the car once a week to cut down on petrol use plus I have gone part vegetarian.

Other things I have stopped buying to offset this. Leisure centre. Beautician. Sky is stopping soon etc. Local chip shop we hardly ever go now. I also cancelled 2 other direct debits. In theory I should be spending less now but never have I felt so hard up!

You are lucky it’s just savings impacted. A lot of people can’t afford to live now

I hear you op - literally every single thing I buy with exception has gone up. It’s depressing. I am in same position, used to save a bit each month, now breaking even.

Did you read my reply?

The headline inflation increase is everything, but food and energy % rises are much higher.

Spreadsheet all your income and expenditure.

It's the only way to see where your money is going and then you can make cuts and budget ahead.

I update mine at least once a week, takes about 1/2 hour.