Please can you help me with a financial makeover (warning- we are rich)

[ohIdoliketobebesidethe]

After all the threads on money recently I have finally pulled my head out the sand and gone through our finances. I have looked at everything we have spent in the last 12 months. The money has all gone. All £106,000.

When I return to work in Feb, our childcare costs will be increasing and also in Feb our mortgage discount period will be ending and we will have to pay an extra £4000 a year in interest.

I know this is a undignified thing to do in our culture- but as you don't know me-I'm going to tell you where all the money went.

Any advice about cutting down any of it will be gratefully received. (eg. our landline/broadband costs seem high seeing as we barely use the phone, has anyone got a cheaper deal?)

3000 living where we live
400 having a car
2750 childcare
520 supermarkets
66 house/baby stuff
250 holidays
310 work related expenses
175 cleaner
180 charity
120 computer stuff
50 books
160 council tax
40 water
75 electricity
35 phone/ broadband
162 life insurance
140 healthcare/dentist/opticians
45 mobiles
120 presents
100 eating out
100 clothes
120 travel
15 newpapers
20 kids outings.

Please don't be too offended at what we spend. And I genuinely would like advice about cutting down.

how many kids?

3 kids
dd1 3.5
dd2 18 mo - so still in nappies
ds1 3mo

At beginning of year there were fewer!

Was going to ask the same as food budget is very high. Also do you really spend £50 a month on books? I spend £5ish on whatever my book club book is and everything else comes from the library.

Hello, I'm thick. I presuming your breakdown is per month? or week?

i dont understand your list...is this per month? have you averaged somethings out? e.g. hols

Is this a breakdown of spending per month?

Are those costs all per month???

OK - find yourself an nhs dentist - are you and DH buying new glasses each every year?

living where we are - is that your mortgage per month??. if so have you borrowed an wful lot?
also what are work related expenses?
Presents per month?

change all phone, utility and insurance providers via a comparing website

cut down on newspapers, presents, eating out clothes, weekly food shop

go to lidl and aldi or local markets

and be grateful you have room to cut your budget !!

Sorry all annual costs averaged out per month.

We actually use the library a lot too. I was also stunned at what we spent on books. Many of them unfortunately are expensice text books I need for work

happy to help but before i do, please can you help me (am having a daft moment) are these figures monthly? and in pounds? cos i don't really understand the "holiday 250" or is this a rounded up monthly figure when actually you spent £4000 one month on a holiday but not much the rest of the time?!

WTF charity! £180 oh my god

sorry xposts.

The work related expenses seem high - what are you putting in that bracket - travel? Lunches? Is there any scope for saving there?

There is lots you could cope without - the healthcare/dentist etc is a lot, and if you're both comparatively fit and well (with good teeth) you could cancel whatever policy that is and think about it again in a few years.

And £50 for books is excessive - join the library forthwith.

You don't say how many people you're feeding with your £520 - but think about meal planning/online shopping so you're not tempted by stuff you don't actually need.

£1440 a year on "computer stuff" is an awful lot - are you buying lots of software/upgrading or just burning through the paper and ink cartridges?

Are these figures per month?

That's a lot on holidays and travel - but what do you mean by travel?

And surely work related expenses are things that you could be claiming back from work?

And £120 on presents is a ridiculous amount! Who on earth are you buying for?

And what are you doing with your computer to be spending that much?

Sorry - lots of questions - but you need to give more information about these things before we can judge.

Oh, and judge we will ... !

£2750 on CHILDCARE???? really? is it actually worth working to pay that out???? bloody nora. thank god i am a sahm. now i rememebr why!

and cut down your cleaner and find free/ cheaper kids outings to altrnate with the paid for ones

My honest and truthful opinion:

3000 living where we live: Seems reasonable.
400 having a car: Try to walk, cycle where possible.
2750 childcare Probably none negogiable.
520 supermarkets Move to cheaper brands / more cost effective products.
66 house/baby stuff - same as above.
250 holidays - take cheaper holiday (or stay at home and come up with fun alternatives)
310 work related expenses - try to claim on eggies.
175 cleaner - errr. cancel. Easy!
180 charity - Cancel. or reduce. Give more by volunteering time.
120 computer stuff - not sure what this is?
50 books - try second hard shops or freecycle.
160 council tax - non negotiable.
40 water - non negotiable.
75 electricity - non negotiable.
35 phone/ broadband - non negotiable.
162 life insurance - non negotiable.
140 healthcare/dentist/opticians - non negotiable.
45 mobiles - look at if you all need sep. contracts.
120 presents - don't buy them!
100 eating out - stay in.
100 clothes - non negotiable.
120 travel - try traveling by bus - it's fun but maybe not with 3 kids!!
15 newpapers
20 kids outings. - non negotiable.

read paper online...only buy one paper at weekend.

a massive saving of £108 pa

Re the work-related text books - surely you should be able to reclaim this cost from your work?

I am grateful we have room to cut.

We owe 400k on the mortgage for our flat. We live in London. We also pay for a service charge.

Work expenses for me are being a member of various medical association things and one conference trip for a week which I need to do again next year.
For dh (much less) they are the costs of eating out etc when away from home - work pay him back the rest.

Presents - are things we have bought for family and friends inc wine when going over for dinner, wedding presents etc.

Have just read that the bulk of the books is again, work related - when you're done with them, sell them on with Amazon. Use the money to buy the next ones. This is how I cope with DS1 and DD's University reading lists.

You can do away with the holiday for the time being, charity, computer stuff, books, eating out, travel (?) - it depends how strapped for cash you really are.

Your outgoings seem very similar to mine except the childcare (mine's £410 per month). I regard the cleaner as a necessity with 4DSs .

What are the work related expenses ?

Agghhh too many replies