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.

Nanny could feed the kids on cheaper home made stuff and leave some for you .
Shepherds pie, stew, lasagne ...all the stuff that comes in boxes but much better.

Would a nanny really not be cheaper than the nursery bill?

But it wouldn't be 36k because we'd have to pay tax and NI
I agree lots of great tips - I will read this through slowly later.

Arghhh wish I could type faster

In fact you could have a housekeeper for that price, couldn't you? That'll cut your supermarket bill too.

as I said before, when you get a chance you can cook stuff up and freeze it. shepherd's pie, spag bol, fish pie, soups etc.

cheaper than ready meals and prob better for you.

in fact, you could get the kids to help and that's another free activity for you to do one weekend. prob seems crappy to you, but children do enjoy stuff liek that.
they need to spend time with you mostly, doesn't matter how much money you spend doing it

tbh - I'm not that keen on nanny - I love the nursery.

If we got a proper live out nanny I'm not sure it would be cheaper?

Feeding kids separately must add up - and ready meals.
I'm sure I wouldn't want to be cooking after a day's work, but could you get a slow cooker/Remotchka thingie and throw something on in the morning (in your spare time)?

I work full time, and sometimes work evenings up until around 10.30pm. But all our food is cooked by me from scratch.

Yes, it's hard, but be realistic. Convenience food will cost you a fortune. If you really want to save money, this is a really good way to do it.

And be honest. How long would it actually take you to cook a meal? Spag bol/chilli = 20-30 mins, max. And while you're cooking it, cook twice the amount so that you can freeze half of it, so there's always a meal in the freezer.

I'm beginning to get the feeling that you don't really want to change what you're doing - but you're just moaning about how expensive things are.

You're right about the kids stuff. Dd1 also now at an age where we can meet up with friends of hers for an afternoons entertainment.
We spent £100 last year on zoo membership - but we've already renewed it

Nanny wages

It seems to me (having only skimmed really) that £5750 for your flat & childcare are the bits you need to look at cutting - all the other stuff is just rearranging the deckchairs on the Titanic. Yes, you can save a few quid here and there in each category but most of the entries seem perfectly reasonably (eg we spend far more than twice £400 on running 2 cars)

Your council tax:mortgage ratio is absurd And why is your childcare cost so high? (Apols if this already explained)

Slow cooker is a good idea and the frozen leftovers I like too.

Thanks Anachy Aunt- point taken. mmmmm

Do you think we could find a nanny who would cook too?

Oh dear. Bit of a waste on the old zoo con.
I get the feeling that you are too easily conned into things.
Easy I know when you have a large family and little time. But zoos are horrible places (will get shot for saying this). Just go to the country every so often and lean over a gate, have a walk and really discover nature and wildlife.

Do you get the books which are for work and the charity stuff deducted from your taxes?

There's loads of stuff you can declare on your income tax which will reduce your top band tax.

zoo is on our doorstep though.

Our hols have mostly been trips to country and have been great. Last one was a week on a farm in cornwall feeding the animals every morning - loved it and only £337 for the week's accom.

Advertise for a nanny - don't need to go to a rip off agency. Friends of mine (Consultant Doctors) and me put ads in the paper, use your instinct, get refs, and spend some time with them. They will cook if you ask them I'm sure and also tidy up kids stuff (main mess). Cleaning not a problem then on a Sat morning.
sorted

thanks for the tax tip.
When I did this I hadn't realised quite how much work stuff there was and I do plan to dig out receipts and get the tax back asap.
I don't think you can claim for books though can you?

Food budget a bit high.

Surely work-related expenses could be reclaimed?

No more book buying per month. Libraries instead, and books for birthdays/Christmas

£120 for presents? Is that Christmas and birthday presents combined? So you spend £2400 on presents? Again, if you are trying to economise I would say that this would be a good place.

Cornwall hol sounds fab. think you know what to do but just needs time and energy sometimes to organise.
We are fairly discerning but budget dictates caravan or tent in Wales which is always good fun.
Make sure you go to the zoo every fortnight I suppose....

£337 for the week's accom.

but that's £337 you didn't need to spend isn't it?
plus the week's food I presume? and travel costs, and getting about down there and outings etc etc?

We spent £600 on xmas present for PIL. This year we have agreed to call a truce.

My god it's easy - MOVE!

Or failing that stop eating out, buy less presents. do less of this off 'computer stuff', cut down on charity, and take less holidays. Other than that cont your lucky stars cos even in your hardhip there are billions of good people living misreable lives who will never know your privledge

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