How to manage on your income ? Any budgeting ideas please ?

[lilyrayne]

Hi all ! Recently a single mother! I will get no money from child father. I have to manage on my own and I work part time. I've calculated everything online doesn't seem much to live on every week after everything is paid. Does anyone have any ideas I can start doing straight away to save as much money as possible !! Xx thanks xx

I’m the same as you, no money from the children’s father. Seems that’s how a lot manage!

This is how I have managed:

1. no cinema, no restaurants, no expensive clothes, treatments or cosmetics. If I go out, I just had one drink.

2. Menu planning. I also get most vegetables frozen to reduce wastage but cook mostly from scratch. Lunch pack for workdays.

3. We are out and about on the weekends (never at home) but we carry packed lunches, go to museums, parks, the coast, the hills and other free places (admittedly, there is a cost of petrol but that is the price of our freedom)

4. Never buy anything on credit. If I can’t afford it, I wait until I do.

5. I shop mostly at Aldi but do a shop in ASDA to get those things Aldi doesn’t sell.

6. ... and most importantly, become a minimalist, living with little not only is less expensive but save you hours and hours of housework.

The best way to manage is to increase income - work more hours, move to a better paid job, negotiate a raise. Is any of that possible? Otherwise, yes, always shop at Aldi and use up all leftovers.

Are you getting the best deals on everything? Insurance, utilities?
Have you claimed council tax discount?
As others have said - menu planning, being ruthless on using stuff up before it goes off. Batch cooking - saves time and money.
Free days out - parks, woodlands - looking for interesting twigs/trees/tracks (sorry you've not said how old your DC are). If you're in the midlands, I can suggest lots of free/cheap days out (usually petrol/parking only.)

Have a look on the money saving expert website especially the debt free wannabe board as that has loads of tips of budgeting.

The best start is to go through your bills and write out a budget. Check each bill and see if you can switch to a better rate.

Keep a spending diary where you record anything other than essential bills for a few weeks and then you can see where your money goes and if it’s giving you the best value for your money. When I did it I found that the biggest thing I spent my “fun money” on was eating out at £40 per month and when I realised I cut that tight down as I felt I could get more enjoyment from that £40 by doing activities instead.

Do a weekly meal plan and only buy what you need, batch cook and freeze where possible and do most of your food shop at Aldi/Lidl if you can.

Before you buy anything ask yourself if you really need it, could you borrow it instead? Buy as much as possible secondhand and sell anything you no longer need.

For holidays have a look at sun holidays which usually work out at around £100 for a 4 night caravan break in the UK.

Also to add, increasing your work hours isn’t always the best way as often tax credits will go down and childcare will go up. You’re also more likely to spend more on convenience products due to lack of time and fritter money on little treats for getting through the stress of the week.

YY to meal planning and not everyone's ideal but was given a slow cooker and the stews, curries etc made from the big discounted things in Asda (no Aldi or Lidl near me) has been a lifesaver.

Cut out any extra expenses or try to get better deals, cancelled sky, switched phone contracts etc.

Days out wherever possible if you have a library, museum, park near you. We make treasure maps for the local park sometimes and hunt for 'treasure' I.e. some 2ps and 1ps I stealthily put down before he can look.

For me, no corner shop drop-in was a big one because always ended up buying something more than I needed.

Charity shops are fantastic when you have to buy things.

It is hard being the sole provider but planning is everything, it is such a big part of saving money and what MN told me when I came with the same question over three years ago. One poster said the key to being a single mum is to become a 'routine queen', never forgot that as it is so true!

Start match betting to boost your income.

I would say before you buy something, check whether you could get it for free first. If you're on benefits you can check for grants for white goods and there'll likely be some type of furniture scheme with good second hand furniture.

Have you got a friend or relative you can make a pact with? Before my mum or I buy anything for the house we check if the other has surplus. We've swapped pans, duvets, towels, kitchen scales, mixers. One person's trash may be another person's treasure.

I would say do get Netflix - cheaper than the cinema and plenty to watch when you're stuck in.

Take your own food and drink everywhere and get cook books and diy books from the library.

When you get paid, put all your compulsory expenses in separate categories. For example I have an online banking app and further savings accounts on the app (which you can make in the space of five mins), and as soon as I get paid, I transfer money into separate accounts like money for food for the month, rent, gas, water, direct debits, and whatever I have left in my current account is what I have for luxury. I’m sure there’s apps that help too

I created a spreadsheet to properly figure out all of monthly expenses. I then decide on an amount I can save each month and put that aside immediately after being paid. I then have two accounts, one for all of the bills and the other for all of the food/personal spending. This way I absolutely know how much money I have to spend as it’s not muddled up with rent and bills money.

As long as you can pay off the full amount. Get credit card Tesco does points for all your spending i only use mine for fuel and shopping and clothes . The points add up to 8.00 a month given back in the vouchers . Also make currys with lentils beans ect an freeze cheap an good for you .If you have two ovens use the smaller one as less engery also use engery saving light bulbs . Dont keep heating on all day on low unless sub zero is forecast . Try to do less loads of washing and use airing cupboard to dry clothes instead of dryer . Mot at council run mot centre they have no interest in making money from repairs . Look on wowcher for cheap break down cover i got mine for 20.00 ..Hope this helps .

I do what Erinaz suggests - I have a Tesco credit card which I pay off every month. I got enough points to begin with to pay for six month's Tesco delivery pass so I get a delivery each week for no charge, which in turn gets extra points...cuurently I have £20 worth which I can exchange for 3x the amount and can pay towards cinema trips, meals out, holiday cottages etc. I also use cashback sites as often as I can. GreenJinn is another good one for food shopping. It all adds up!