Anyone drastically cut their monthly budget and lived to tell the tale?

[Ceolas]

I work PT, DH is FT and on a good salary. I'm expecting DC5 in August and would love to stop working for a few years.

Now, on paper, our monthly budget should work out on DH's salary alone but in practice there's no money left at the end of the month. We are spending more on costs in the budget and buying non-essential, non-budgeted-for items too

I guess the sensible thing to do is write down everything we spend. In fairness it's me who does most of the spending but I can imagine DH won't be delighted at the thought of accounting for every penny that passes through his hands.

Has anyone successfully slashed their spending and can give any other tips?

There's a good budgeting spreadsheet on money saving expert.

I'm about to be made redundant so have just done one for us to make sure we can survive on DH's salary alone.

It looks OK on paper as well,but time will tell!!!

Good luck to you. I have never had enough money no matter how much or little money I've had. It's ridiculous.

I'm trying a new technique... I have £600 to last the month after all bills, Direct Debits etc are paid. For the first time in my life I'd like some money left at the end of the month, so I thought I'd try a countdown. Next Thursday I should have £470 left, the Thursday after that £330 and so on.

I have tried the budget planner on MSE and in theory we should be OK but I am determined to make cash last better!

I find that spending cash rather than money on debit cards helps me to keep track better.

Debit card, I only have one

Agree, we have kept a better grip on things when we've spent cash. It's the way forward

Have you thought about starting to put all your wages now into another account? Only take from it expenses like childcare, travel costs etc, that you wont have when being a SAHM.

Thanks Lmccrean I did think about that. Perhaps not all at once but cutting down by £100 per month? (I earn about £600)

Sounds like a good plan!

I do something similar - spending as if I had a mortgage (and therefore a fair bit more expensive than my rent) Its working great so far, and Im building up a nice sum for a deposit!

Also, have you checked out entitledto.com? Should give you an idea of any tax credits you might get, and therefore a better picture of actual income.