Budgeting

[NotMyCat]

Long story but I'm consolidating debt and taking out a mortgage so I'm going to be debt free (almost) for the first time in a LONG time and I want to keep it that way! And also have savings

This is my budget, can you spot anything wrong/missing? The e cig stays, I don't drink so it's my only vice
The £100pm savings is to cover MOT/service for my car and emergencies
My wage varies so I may be able to put more aside

Council tax 125
Cat insurance 38 (he's old..)
Gas and electric 65
Netflix and Amazon 15
PRA 50 (debt)
Capquest 30 (debt)
Mortgage £400
Car tax 10
Water 20
BT internet/phone 30
Denplan and TV license 30
Car insurance 35
Contents insurance 10

£900
£100 savings

£1000pm total

£300
Food (£200pm) , cat food/litter (30pm) , petrol (40pm), e cig (30pm) £300pm

Total £1300pm

Wage - £1300 worst case scenario to no limit but usually around £1600pm

[quote NotMyCat]@userxx he has a history of suddenly deciding to get very unwell about 5 minutes after the vet shuts
The last bill was 3k so I'm v pleased I got insurance! He's older too and I've had a lot of claims[/quote]

God yeah, it's totally necessary. Pets are the priority!! Just shocked at the cost but as you say he's older. I've got a £450+ vet's bill coming up tomorrow 🤷‍♂️

How do people finance new kitchen & bathroom

I don’t know about others but I saved up monthly payments of £400 for a year and then got 3 quotes, found out the price & then booked the builder in ( waiting list if 6 months) and continued saving - paid cash, not in debt

It’s really important that you stop the behaviours that led to accruing debt. As ivykaty said, save up for your kitchen/bathroom rather than getting it on credit. Your wages are higher than your budget so it should be quite quick to save up - and you’ll be very satisfied when you have! I’ve been in debt - paying it all off and saving for things instead has transformed my finances and life.

@Doorhandleghost

It’s really important that you stop the behaviours that led to accruing debt. As ivykaty said, save up for your kitchen/bathroom rather than getting it on credit. Your wages are higher than your budget so it should be quite quick to save up - and you’ll be very satisfied when you have! I’ve been in debt - paying it all off and saving for things instead has transformed my finances and life.

Yes definitely get satisfaction from watching it build up! I have short term a few goals to save for Long term it will be my pension I think, I have one through work and a very tiny one I've been shoving £20pm in but I definitely want to increase that The only months that will be an issue is if I don't get any commission as my wage will then just cover my budget with no extra savings

Have you actually applied and been accepted for a mortgage as with debts already in default this would probably be a decline from the majority of lenders.

@linelgreen

Have you actually applied and been accepted for a mortgage as with debts already in default this would probably be a decline from the majority of lenders.

Yes applied and accepted via an adverse credit broker, I've signed and sent the mortgage deeds off this week The mortgage payment I mentioned is the amount with mortgage and consolidated debt