Big change in home finances coming our way

[Mumof3teenagers]

Ok, so there is going to be a very sudden drop in our income. DH is changing jobs due to burn out. It involves a big drop in wages but has to be done. We don’t have a choice. I’m working but not on great money. We have found a way to clear some debts. We have no savings left after that.
So, we will be on a very tight budget from next month. Hit me with your best budgeting, money saving tips please. we have to make this work. He can’t stay working where he is and putting in the hours he has been, it’s too much. He is off sick at the moment and getting help. I can see his mood lifting already, so that’s the most important thing right now.
I really want to make our finances balance so this will not be another thing to stress him out.

Unless she’s desperate for the paper copies, you can download Readly on the App Store. They nearly always have 3 months free or for 99p. You get access to thousands of magazines and it’s fab. You can read on your phone or the iPad and they have all the magazines you mentioned.

Cost cutting... I've had to do this as our situation changed significantly a few years ago. We've managed, but its been tight.

Things we did:

Cancel TV licence (you can still watch all catch up stations aside from BBC)
Change all phone SIMs to cheapest Lebara deal
Change Internet provider to cheaper provider
Extend term on my mortgage (lower monthly payments) as this situation will improve in 3-4 years
Shop at Aldi and Lidl (forget about brand names) and try to meal plan. Dont shop when you're hungry.
Insulate the loft. Foil behind radiators. Closed off areas of the house we are not using much and lower their radiators. Look to seal gaps and draughts. Bubble wrap on windows we dont use
Reduce hot water temperature. Use cold water for washing your hands. Reduce the radiator flow temperature (so the boiler runs more efficiently in condensing mode). Get a smart meter. Remove "preheat" from your boiler if you can (so it isn't always ready with instant hot water).
Make sure all your light bulbs are low energy
Smart plugs help by ensuring things get switched off overnight
Don't leave things on standby. Use smaller screens. Check the energy rating of items in your house
Forget meals out, holidays, takeaways, alcohol.
Use charity shops
Become vegetarian (its cheaper) or eat more pork (its cheaper than the other meats)
Try and save a bit each month for the unexpected as that can really screw you up if you dont have the money and a big bill turns up
Cut down on car use or get rid of you car(s)
Use the Too Good To Go App for cheap food
Use a heated throw to keep warm during the day and a dehumidifier to dry clothes.
Use the Eco setting on your washer and dishwasher (dishwashing is cheaper than hand washing)
Agree not to "waste" money on Valentine's Day cards and similar (and presents if you're struggling - I got essentials for my birthday and that was it)
Use Hot Deals UK to set up alerts for things you need
Only buy things you need, not things you want
Air Fryers are cheaper than ovens and quicker. Microwaves are best. Slow cookers are pretty good.
DIY to fix things - there are lots of guides out there for how to fix things (I've fixed a few things via YouTube videos).
Fit a water meter if your a smaller household as it will save money
Use the Petrol Prices app to find where your cheapest petrol station is
Use the Library for free books and audiobooks
Look at cancelling any subscriptions you don't need (NetFlix, Disney, Sky etc)
Get rid of your home phone if you still have one and are paying for it

Its not pleasant and its stressful at times, but if you need to do it, you need to do it. My partner will be leaving work soon which will be even more stressful, but we've saved up some money to weather 6 months of so if we need to until they find another job. Like your husband, their workplace is just horrendous.

You can also get electronic versions of magazines free from the library, so don't even need to pay for Readly.

For TV subscriptions, we rotate round and only ever pay for one or two at a time as we can't realistically watch enough of Prime and Now and Netflix and Disney etc etc to make it worth paying for all of them. Plus for Now TV, if you sign up then cancel, they'll offer you a deal. We've had it on and off for years and never pay more than a fiver a month for movies or even less than that for entertainment.

Definitely watch what you spend on food and drink out of the house and also takeaways. This can add up to huge amounts and is getting more and more expensive. Many supermarkets do meal deals that are a good alternative to a takeaway at a fraction of the cost.

Separate bank account for bills with a standing order for the correct amount transferred over on pay day so you always have them covered.

Meal plan a months worth of meals, then online shopping with 2/3/4 shopping lists corresponding to your weeks meal plan, and don’t buy anything else. Rotate through your lists each week.

On payday work out your outgoings then put every single penny remaining in an easy access savings account. You can always transfer it back if you need it, but it will make you think twice before buying something unnecessary.

Walk everywhere you can, if it’s a fairly long way see if walking one way then bus back is cheaper that taking the car/paying for parking etc.

Check all your insurance/ contracts etc, see if you can get them cheaper or cancel altogether.

Do you have a water meter/smart meter? If not, get them.

I know she could access them online.. but would she or would she just sit on YouTube out of habit?

A magazine arriving is an event, we sit and flick through when it comes together, we discuss the developments with the James Webb telescope or the ethical dilemmas they pose each issue at the kitchen table, we come back to it several time for the puzzles and competitions and when we have thoroughly used it for it’s intended purpose it goes in the cutting and sticking box and becomes interesting craft materials for birthday cards and collages. Our house is covered in cool posters and my dd is kept up on current events in a way this informative but not traumatic

It’s worth in our house far exceeds the money spent on it.

OP, hope his new job works and you're able to manage. We'll be in a similar situation soon, so will follow this thread with interest. DH suffering from burn out, is so stressed and low due to work. Luckily everything else in his life is good. He's 58, and now looking at taking retirement in the next year - ideally he'll take it when he's 59 but I don't think he'll last that long. I keep telling him to discuss with GP and perhaps get signed off for a while, but he just won't do it as he's a worker and feels it's the wrong thing to do.

Probably an obvious one, but check the settings for your boiler and water tank. There's a really good section on the Octopus Energy website that tells you the most efficient settings for whatever setup you have and explains how to adjust them.

Use Vinted for both buying and selling.

Check the Too Good to Go app for reduced food items.

It is doable - my DH has ditched his city job and now our household income has gone from £170K to about £55k.

He is wayyyy happier.

As PP said - Money Saving spreadsheet to do a budget and then work out various budgets for:

1. Monthly Direct Debits (utilities/pensions/monthly DDs/life insurance etc). Same each month regardless. We have one account for this
2. Irregular Bills (insurance/dental stuff/car MOT/termly music fees/Car Tax). We have another account for this. We worked how much we needed for the year, divided by 12 and then this monthly amount goes into this. This is again separated from day to day living costs - kept safe from being frittered so there is not a horrible "shit, no money to pay the car tax" moment.
3. Day to Day living (supermarket/petrol costs/new batteries/ etc) The monthly amount left for this is divided into 5 and I have a weekly "pot" in Monzo. If I go over the weekly amount I can dip into the next week's...but means tightening belt for then. This in particular has helped as we have previously wasted so much money on crap we did not need....

I also have a supermarket delivery pass. I weirdly find having 2 orders a week helps with meal planning/budgeting better than a once a week one. One comes Tueday, one Friday. Means no need to pop to the shops for a top up (always meant random purchases). If I need to be more frugal for a week I can seriously look at ditching one of the shops and stretching the stuff in the cupboard/fridge a day or two. The minimum order is £40 - and I try and keep it to £60 max. I top up with washing powder/dishwasher tabs/toiletries if I am ever under the £40.

Cheaper days out...take a picnic, your own coffee, buy the Mirror <shudders> and get the free National Trust Days out voucher.

Will your DH get a tax rebate if he has dropped his salary considerably? My DH stopped his previous job in July and got several thousands back -we earmarked most for savings, but also found a very cheap cottage for this summer's holiday.

I will be honest with you, almost the most depressing thing about it is how much money we have pissed up a wall the last 10-15 years.

^Cheaper days out...take a picnic, your own coffee, buy the Mirror
and get the free National Trust Days out voucher^

I bought the Daily Star for these because it was the cheapest paper with the vouchers in. I cut the vouchers out and gave the unread papers to a friend to use for her rescue small animals to crap all over.

Run one car and cycle? Or ditch expensive tube journeys for a bike? People in London routinely cycle 5 or 6 miles to work but I see people ‘needing’ a car to do similar journeys.

an electric bike is a great value way of getting about, add two large panniers for shopping

i cook once eat twice for a week, put the other half of the meal in the freezer for the last week of the month. Meals such as chilli, spaghetti bolognaise, chicken casserole, beef stew, curry are ideal for both slow cooker and freezing half. Heating up in the microwave is cheaper than cooking

Wow! Thanks so much for all the replies and advice.
mum going to get a pen and paper and wrote a list of these things.
I really had no clue where to start. We have been fortunate enough to spend freely … we’re not loaded but bills/ loans were always paid on time and we just spent what was left. Not very good future planning I know and now that’s come back back to bite us.
I’ll definitely work out a spreadsheet, do meal planning, set up separate accounts for big bills ( insurance, car service, oil etc) .
I like the idea of having a card each like Revolut to have our spends for the week in …. Will definitely give that a go too!
So many amazing ideas here, I’m feeling now that it’s doable and we will get there.
Thanks so much, I know it’ll be hard but very doable.

All of the above, of course. My special tip is to really cut out waste. We used to get through large quantities of shower gel, shampoo etc just through not actually using the minimum we needed. I also meal plan but save Thursday and sometimes Friday too to use up all the spare veg and salad stuff so there is no wastage - think of hash or frittata or veg curry or stew. When I cook from scratch, most days, I always make enough for two meals. Through doing this and buying own brand I am spending less in the supermarket this year than last year.

Decide now whether or what you’ll do about Xmas presents

let everyone know you’ll be doing something different or not doing Xmas presents etc

then look at who you will be getting presents and plan ahead

If you have regular prescriptions then look at a yearly pass as it could be cheaper

Buy some nice lunch boxes to take when you go out and about. Aldi do great ones for 4.99.

Take a flask everywhere.

Plan a list of free days out so you don't feel like you can't go out due to money.

Only wash actually dirty clothes.

Meal plan each week and go with a shopping list to Aldis.

Batch cookies and freeze extra portions.

Make a huge soup every week for lunches.

Do a statement of account and budget for everything. Set up savings pots. Think about things before you buy. Do you need it or want it? Can you use an alternative or get it cheaper elsewhere.

Take lunch to work rather than buying out.
Meal plan
Don't buy clothes or make up for a period of time depending on how big a stash you have.
Set a monthly takeaway night rather than whenever you feel like it.

Well done for putting your DH health before money. We also had to do this a few years ago and don't regret it, things always work out.

Never underestimate the power of a spreadsheet!

Make a list of things you can do at the weekend that are free or really cheap. Go for picnics, walks, use library instead of buying books, walk instead of using car, batch cook, sell anything you don't need on Facebook, buy 2nd hand, grow your own veg.

Best of luck x

Just wanted to say welldone for putting 'health before wealth' despite the sacrafices....many people don't.

We had to do the same when DH was getting bullied at work and with no HR to fight his corner he just had to get out of there as was having a nervous breakdown about it all.

It was a worry financially as i was a SAHM at the time, but he couldn't carry on there.Luckily he soon picked up some other work, but even if we had been out of work for awhile and we got into debt it would be worth it for seeing him safe and happy.

We like to do an end of shopping week soup where anything looking less than lovely in the fridge can be chucked in and liquidised with stock and nothing is wasted.

Another one from me - I've embraced market shopping, especially fruit, veg and fish. Once a fortnight I get up early on a Saturday and head out - it's cheaper, fresher, and there's a lot less packaging - it's all loose generally so you can just buy what you need. As soon as I buy carrots/celery/leeks I chop them up and put them in a big freezer bag in the freezer. This is because I only shop once a fortnight to try and cut down on wastage, so the first week we'll eat everything fresh and the second week we live off stews, pasta dishes, freezer chilli etc, so a handful or two of soffrito from the freezer in a stew is really handy and stops me nipping to the shop again.

Like @freezingpompoms I've also embraced the soup vibe - me and other half work from home three days a week so I've always got a tupperware in the fridge of whatever the week's soup is. Today we had turkey and veg made from a turkey drumstick (they are pretty cheap in Sainsburys) roasted and picked apart, and souped up with chopped celery, leeks and carrot from the market, a jelly stockpot and a handful of basmati. The trick is to saute the veg in 2oz butter and splash out on a crusty baguette to make it taste luxurious (and not at all like gruel).

Next week's soup at mi casa for all you red lentil lovers is lentil and bacon soup which is awesome - www.bbcgoodfood.com/recipes/lentil-bacon-soup

Thanks again. We do waste a lot if I’m honest, due to not being organised and lack of planning.
My kids love home made soup, so it’ll be a great way to use the near end veg etc instead of composting it!
I do think a year from now we will look back and be happy with this decision. It’ll be tough…. Might be the wake up call we needed! We still have a few debts to clear but I’m going to work my ass off to get these under control.
As long as he’s ok at the end of this, that’s all that matters. I’m finding it very hard to see him so vulnerable…. It’s a million miles away from his usual self. I’m so proud that he’s actually admitted he needs help, that’s not his way…. I’m a bit overwhelmed myself by the sudden change in circumstances and in his sudden deterioration ( not so sudden, the signs were there but not seen…. Hind sight is wonderful! ).

Ive my pen ready and I’m writing down all these ideas and starting right now to turn things around.
Wish me luck🍀

You're definitely making the right decisions - the pair of you sound like a great team together. I had to leave a job due to bullying from my line manager (CEO) and although it was a hard choice and I had to cut my cloth to suit for a couple of months, I got a job that was a lot less stressful, with a good team who helped me build my confidence, and a better package. Good luck with it all.

@PauliesWalnuts thank you. I’m so glad it all worked out for you in the end, it’s good to hear these stories.
Just wish I could fast forward a few months and see how thing pan out.

We had a similar situation. The first thing to go was the second car.. occasionally use taxis instead if needed, otherwise bus.
Then childcare as we adjusted around work.
Agree with the above posts that say look at your biggest costs.

Best of luck OP.

One thing I'd warn is think about the extras and count them in now rather than trying to cut to bare bones. We were really good at budgeting for food shopping but suddenly needing deodorant, Toothpaste and shampoo sent us over budget. Similarly I didn't have a clothes budget for ages but then realised almost my entire (quite small) wardrobe needed replacing.

In the end I discovered You Need a Budget that sets up different categories you can fund over time. Sadly the price has gone up ridiculously now (£75 a year!) So I don't recommend the app any more but have a look at the concept.