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Budgeting, how much could you realistically save per week?

9 replies

mummyof2byapril · 04/03/2010 14:01

So I'm a single mum on benefits with one child. I really feel like I need to get away!Despite nearly all my money going on bills (with having a 3 bedroom house to run still despite there only being 2 of us)
I have just been managing to save up £10 a week for a holiday in furture or something.

Now I am due another child in 5 weeks time, I'm thinking that I will get about £60 a week more (??)
I am wondering if I would then be able to actually put £50 a week in savings!
As surely you don't need to buy much for babies, other than nappies.
Am I being unrealistic?
I'm happy to start making meals weekly and freezing them in tubs just so I can save money.
I need to start accumilating some savings so I have something to look foreward to, a good holiday to keep us in good spirits!

How do you guys do this?

I know gettinga a job asap would help emensly but I really want to go and finish college and job+college I would leave me too drained to take care of my kids as well as I'd like to.

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Are your children’s vaccines up to date?
choccyp1g · 04/03/2010 14:14

I read an interesting piece a while ago which said that they way to save money (or to make money) is actually to think about the big things. The amount you can squeeze out by cutting out your one treat of coffee, or buying own brand beans is tiny compared to what you can make by getting a job, or not running a car.
In your situation, the big thing is that you have a spare room at the moment, until the baby needs it. So I would suggest getting a lodger.

choccyp1g · 04/03/2010 14:17

I think you are right that in the first year or so, a second baby doesn't actually cost much to run. So you will be able to put aside some of the extra cash you'll be getting.

mummyof2byapril · 04/03/2010 14:25

Yeah good thinking, I really need to look at what exactly I'm spending on food, especially our occasional subway treat..
I'm going to use freecycle and charity shops more.

I would get a lodger but being on benefits that is really tricky.
Last year I let a (working) family member stay with me and when the benefits people found out they counted his income as also being mine and took away my housing benefit, council tax credit, and gave me a nice big debt for what they said they'd been overpaying me, he moved out as soon as we knew how much I was losing.
I'm still paying off all the 'overpayments' now at £10 a week, and I still have several hundred pounds to go before it's cleared.
They said if I let anyone stay with me again I could go to jail.
It's ridiculous as I was only helping someone out.

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mummyof2byapril · 04/03/2010 14:28

Yeah choccy!
Especially if he takes to the breast, it would just be nappies really, and I need to make a point of not buying nice cute new baby cloths, he can use hand me downs (ooh i'm evil) but we need a holiday too badly!

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GypsyMoth · 04/03/2010 14:42

netmums nearly new section is good for anything you need (or can sell)

what about maintenence from the father? you'll get that too

i put away £2 coins £1 coins and 50p coins in little boxes....amazing how quickly they add up! those are for our holiday later this year

choccyp1g · 04/03/2010 14:42

That's terrible about the lodger. I feel the benefits system is unfair in so many ways. To just assume that people under the same roof must be living as a couple is in my opinion out of order. No way can you risk that happening again, so another one of my bright ideas bites the dust.

The trouble with being on benefits, anything you do to make any money will be removed from your income; I naively thought a lodger wouldn't count, as they don't count it for tax purposes.

mummyof2byapril · 04/03/2010 15:28

I know the benefits people are a joke, absolutely no incentive to aquire my own money from them.

My son's dad gave me £1300 last year lump sum, nothing else in 2 years mind.
The benefits people are taking £1000 back off me because of that! Lol
They said his money counts as income so I cheated them by taking benefits aswell so need to pay it back.
All the effort I put into trying to get him to give me some money to help, I don't know why I bother.
I am certainly not chasing him for any more maintenaince now if it's taken back off me.
He lives abroad anyway so nothing legal can be put in place.

As for the father of this new baby, I wouldn't hope for anything in a million years from him, he does live in the UK but is claiming that he'll 'ill' and is on sick, and he wants nothing to do with baby anyway.
He is very uncontactable.
I doubt very much I can get anything from him and wouldnt they just take it out of my benefit anyway?
If anyone knows anything about that, sure I'd love to have CSA on him, I hate him, but as he's not working I heard they can't touch him.
I doubt he'll even agree to come to have his name put omn the birth certificate, and I can't put any father's name without them being present right?

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GypsyMoth · 04/03/2010 15:35

he should pay £5 a week which will be deducted from his benefits and paid to you fortnightly......thats £20 a month in your savings...contact them

mummyof2byapril · 04/03/2010 17:51

Thank you,
I love the coin idea too :-D I will try that, get one of those ginormous beer bottle money boxes :D
With all £2 coins, I'll be rich in no time!! :-p

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