Can you critique my budget?

[tomatopineapple]

Suddenly found myself unexpectedly single. Please can anyone review and critique my budget? I haven't bought any Christmas presents yet.

Mortgage £401
Help to buy loan £45
Council tax £102
Water £32
Internet £35
Gas & electric £75
Tv licence £15
Window cleaner £10
Service charge mgmt co £25
Home insurance £15
Dog food £40
Dog walker £250
My phone £19
DS phone £23
Life insurance £23
Club subs £18
Pocket money £60
School dinners £40
Car insurance £50
Car tax £20
Fuel £120
Car loan £180
Credit card £50
Groceries £160
£1718

Going to cancel:
£20 postcode lottery
£100 ISA stocks & shares

Take home £1620
Salary deductions at present:
Paying £300 pcm into pension - will reduce this to £150, increasing my pay by approx £100
Paying £150 into childcare vouchers - can reduce this to £70, increasing my pay by approx £60
Paying £400 into work saving scheme (this will make me more money so would like to continue)

Total take home:
Salary £1780
Maintenance £175
Child Ben £90
Total in £2045
Total out £1718

He could buy a new pair of nike trainers every month with £60. He's 12 right??

I'm assuming the childcare vouchers are being used for out of school clubs??

We walk our ddog (very spirited too) at 7.30 am and then dd does it when she gets home around 4, they very quickly adapt. Training lessons (we paid £80 for 3 private lessons) would be cheaper than paying for dog walker long term.

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Lower the pocket money
Cancel window cleaner or have them come a lot less regularly.
Now your a single occupant you will get 25% off tour council tax

Yes dog walker would make a huge difference. Perhaps if I just come home every lunchtime to let Ddog out, then DS is home at 3.15 so I could make a big saving there. And get fit and goddess-like by doing longer walks myself in the mornings and after work

I’m almost certain you are entitled

@Stormsurfer I suspect ex is on more than me but he is self employed meaning it's a nightmare to claim through CSA as his official take home is about £12k so I'd end up with less.

The reason I'm reducing pension and not savings is because savings scheme will "mature" next year and should give me enough cash to pay off my car loan. My max matched pension is £150 a month, anything above that isn't matched. So it seems to make more sense to cut the pension down to that level for the time being rather than to stop saving.

If you go on a water meter and are super frugal with water use, you could squeeze your bill down a wee bit.

Sadly I don't think giving a child that age that amount of pocket money when you are still paying for his mobile and lunch is giving him the right message.

Do you have £60 a month to spend on brand clothes? I can understand that going back on something established for a year is not easy to do though.

Tax credits - pension will reduce your income for this purpose and I think childcare will too as it should be a salary sacrifice and reduce your gross. So you might still qualify, although probably not for much. Work the figures in Entitled To.

Do you claim dla for your child with SEN.

Have a look into it.

Cut the pocket money, window cleaner and childcare vouchers, why do you need them if your child is secondary?

Once you pay your car loan off, set up a emergency fund (unless you already have one), one off unexpected payments are always the things that mess up budgets!

Maybe just cut pocket money by £20 rather than completely and with dog walker try doing one or two lunchtimes rather than every day which I think might become overwhelming when you work FT too. Have a look at food in your trolley, can you move from brands to supermarket brands? Small changes can make a real difference.

To be honest once, your car loan is paid off with your savings scheme money, you will have a lot more wiggle room. Good luck.

So if the dog is too much for DS to walk, maybe he could just let the dog out for the toilet at lunchtime? And youwalk dog at another time? Then make DSs pocket money slightly increased as he is helping save the dog walking money.... but then his new money should cover mobile and lunch money so make it a more realistic money managing learning experience. If he doesn't do dog, reduce his money.

With cutting back on pension and childcare vouchers, you now have a little leeway in your budget.

If you cut down on the dog walker by walking ddog in the morning, then your son coming home and letting ddog into garden. And cut down pocket money slightly.

I think your budget looks good.
You would have disposable income for presents, haircuts etc and try not spend all the disposable, what's left save into an emergency fund.

Even if just a few pounds left each week, it will all build from there.

Check entitled to.com but I don't think you would be entitled, as with very low childcare costs and the government has cut the levels in tax credits.

Also unless you are already claiming tax credit, a new claim means universal credit. Your income is definitely over universal credit limits.

I think it's a little unfair to get DS to do lunchtime dog duties as he will be missing out socially at school.

Could you look into the dogshare schemes where someone will come and help with your dog for the fun of being with a dog? Could you work compressed hours or work from home some days to save on fuel and dog walking? Do you have any time to start an evening 'side hustle' to bring in extra cash? Our water bill for a family of 3 is lower than yours, as we are very careful with water usage, although saving £10 a month isn't massively helpful. Can you car share to work at all? Do you have stuff you could put on eBay? Have you checked gas & electricity prices with other suppliers on USwitch lately? Ditto life insurance and home insurance - might be able to get cheaper quotes. When do your phone contracts expire? Consider Giffgaff Sims for existing handsets to lower the cost.

DS can't do lunchtime dog duties. OP has said he is too young to be allowed out of school at lunchtimes.

Is it £60 a month, or £15 a week? Similarly food shop - £40 a week or £160 a month? Just asking as the amounts seem very round, and it’s easy to forget that actually there are more than 4 weeks in a month..,

You are spending £290 on the dog but only £160 on groceries. I think your priorities need to change. Dog share could be a good idea.

How old is dog? Was he yours or your ex's?

Even if DS can't walk the dog (try haltie?) he can play with him for half an hour. Whether it's exercise or food related brain work it would help.

I am amazed you only spend £160 in groceries.

The dog walker seems expensive, are there any alternative options? You don't have much for outings or clothing, I think you are doing quite well tring to live on that salary for 2 people with mortgage inlcuded.

I need to save more

@user1475317873 £160 is a guess but I think £40 a week for 2 of us will be about right, considering DS has a further £10 a week on top of that for hot meals at school.

We spend £60 at the moment for three of us and eat fairly well. Plus ex used to insist on meat with all evening meals whereas DS and I are happy with egg on toast, jacket potatoes or omelettes now and then so that will save some too.

Can your ex take the dog? That would be £300 almost per month shaved off not to mention any vets bills.. plus your DS could still see the dog when visiting?

The dog walker surely has to go... Far too much pocket money too...