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.

I want a £600 xmas pressie!!!!

the thing is, you may feel you're getting a good deal on holidays and stuff. but if you can't afford them then it isn't a bargain si it? it's just more money you sholdn't be spending surely?

i'd love to go on holiday once a year. but that's never going to happen. (although we are having one special one next yr before ds1 starts school and we are bound to horrendously priced ones)

I know you can claim for work related journals and newspapers, so I bet you books are OK too.

You can even claim a certain allowance for work clothes, iirc.

And you can claim going back 3 years.

We haven't been camping with kids yet - I'm looking forward to it but I was going to wait till they were older.

??are older - doh

Right - I'm on to the tax thing - thanks.

I live in London, I can easily believe your housing costs. But, if you're working for the NHS, are there no creche spaces available through local health trust? If not, nanny would work out cheaper and, in current climate, you could probably find one who would be willing to do a bit of cleaning as well. Stop driving everywhere - pushchair and buggy board are only wheels you need.

After that, it's trimming rather than slashing. Yes, you can get cheaper broadband deals (try uswitch); go through wardrobe and don't buy anything new until you have worn every item in it at least ten times; use pay as go mobile and send texts rather than chat; books from charity shops (find out by trial and error which have best selection).

Finally, don't beat yourself up - you earn a lot of money and you should be able to enjoy the odd meal out or holiday without feeling guilty.

I understand what you mean, in order for me to focus totally on work, I need reliable and good childcare (are both of you using the tax efficient childcare voucher scheme?) and yes, someone to do my ironing is essential!

But I would jettison the private health cover since glasses aren't yearly expenses and come an emergency the NHS are usually damn good.

The newspapers just browse online & only get the Saturday one, which you might just have time to read!

On another note sometimes a very cheap/old car is a false economy given how much it can cost you in bills. Car supermarkets are a better bet imo.

Ico -I didn't mean to cause offense.
I know how lucky we are.

Yes, young kids and tent = nightmare.
I go on my own though with four and manage but started when youngest DTs were 4. It's all very heath robinson but great to have no tv or electric, no drying hair or putting make up on.
Try a caravan on a nice park near a beach preferably with an indoor pool and NO added entertainment.....

I need to drive to transport 3 kids. I guess it would help me shed the postnatal pounds but I CAN"T push 2 plus one on a buggy board up the hill to work and if dd1 walks we would always be late.

ok our earnings around yours

our living where we live is £1000 higher
our childcare £2400 LESS!

where we gain on your is
no cleaner buy a roomba!
no tv package
work related expenses why arn't you reclaiming as others have said
think your car is reasonable
think your supermarket CHEAP
dont pay healthcare but £25 dentist
£50 a month join a library dont get this middle class obsession with filling your house with books - must be chocca

charity - i would stick to that you can afford it

sorry not read whole thread but where is your GAS ?

Our gas is 200 a month

electric 100

The private health bill was for preg just gone and was topping up cover through dh's work - shame not to use it. However he has changed jobs and I think we're no longer covered anyway - so job done!

What's a roomba?

then set out earlier!

Our gas is part of the "living where we live" - it's in the service charge because the heating is communal.

I have three children aged four and under. I live on a hill in London. You buy the oldest one a scooter/like-a-bike, they have fab, fun time, you tone your thighs. Problem solved.

Need to have words with dh about books- I don't think he realises how much it comes to.

lalalonglegs - I get the down hill bit. How do you get them up it?

Just picking up one thing ...

opticians £710 - I got new glasses. Dh needed new lens

This seems incredibly expensive - I'm assuming we're talking a glitzy London optician's here and not Specsavers (or similar)? £710 would buy about 5 pairs of specs there, even with complicated lenses and designer frames.

Just picking up one thing ...

opticians £710 - I got new glasses. Dh needed new lens

This seems incredibly expensive - I'm assuming we're talking a glitzy London optician's here and not Specsavers (or similar)? £710 would buy about 5 pairs of specs there, even with complicated lenses and designer frames.

no - I've never been to specsavers. (Should I have gone )

Do you use the childcare voucher scheme where you deduct up to £243 off both salaries? Working parents can benefit from tax and NI savings of up to £1,195 a year using Childcare Vouchers, and up to double the amount if both parents are part of a Childcare Vouchers scheme.

ohidolike

£3000 for house in london inclusive of gas not bad going

Encouragement and the occasional hissy fit. .