terrysgirl33
Registered User
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- 690
65k Gross with Married Tax Credits = 3.9k take home?Are you paying into a Pension or something like that?
+ €750 per month into your hand for CA and RaR.
So thats €4.6k cash coming in per month by my calcs
How many years left on the mortgage..say 15? = €400 per month. So possibly very low outgoings there.
Not sure from the info provided how your struggling!
I'm very tight financially. I was trying the write everything down approach last year but got a bit bogged down with it.
I have a rough budget framework from the insolvency service plus my repayments.
Going to try a "countdown budget " weekly where I have amounts allocated in each category to try and arrive at a balanced budget. Not sure how it will go yet.
Yeah that take home figure looks low even allowing for pension & pension related deduction. Are you paying AVCs or perchance not claiming all tax credits or not benefiting from an increased SRCOP?65k Gross with Married Tax Credits = 3.9k take home?Are you paying into a Pension or something like that?
I use a one A4 page spreadsheet to track my numbers (not a spending diary though). I always know my a/c balance and that is broken up into virtual money pots covering food, fuel, utilities, yearly, etc. When I get paid set amounts are use to notionally top up each pot. Also, I do a yearly budget where I estimate all expenses (insurances, taxes, holidays, schools, clothes, Christmas, birthdays, sundry), this total figure divided by 12 determines how much needs to go into my 'yearly' pot every month . . so I never have to worry that a insurance premium or other bill is creeping up on me. All spending must come out of one pot or another.I need advice on how to manage money and get a grip on our budget again.
Don't just track "BUDGET". Use a simple spreadsheet (plenty available online) and calculate exact spend for everything. Firstly do this on an annual basis and measure it against income. cash-spends are most difficult to track so avoid them where possible. I.e. treat the family income/outgoings as a business and ensure that casual spends are strictly kept within an agreed amount. Withdraw cash in 1 amount each week and keep the weekly cash/casual spend within this amount. Unless you have a budget and monitor it against actual spend you are wasting your time trying to control expenditure.This sounds like a good idea, but my problem is with two adults and three children, it's hard to track. It could be done if everyone agrees, time for a talk!
Spending diary, spending diary, spending diary!
I keep a spreadsheet of all spend (mine at least) for the month, and we have a shared Credit Card on which all day to day spending goes (we pay it in full every month and as it's with Tesco, we get clubcard points which = to a free Ferry to France this year from 2 years worth of points!).This sounds like a good idea, but my problem is with two adults and three children, it's hard to track. It could be done if everyone agrees, time for a talk!
We have a monthly amount budgeted for food/household spend but we break that down to a weekly figure which we reduce (on our shopping list whiteboard) whenever such expenditure goes on a card or if we withdraw cash for same.Quick answers, we do two supermarket shops a week as there isn't enough freezer space to fit more in. Shop mainly in Aldi, some in Lidl/Supervalue.
We put nearly everything on the credit card (on the spreadsheet I reduce the relevant money pot and increase the credit card pot). It sounds a bit contrived as I type it but it has worked well for us over many years.Much shopping, fuel etc. is done on the credit card, must look over that.
We have a monthly amount budgeted for food/household spend but we break that down to a weekly figure which we reduce (on our shopping list whiteboard) whenever such expenditure goes on a card or if we withdraw cash for same.We put nearly everything on the credit card (on the spreadsheet I reduce the relevant money pot and increase the credit card pot). It sounds a bit contrived as I type it but it has worked well for us over many years.
This sounds like a good idea, but my problem is with two adults and three children, it's hard to track. It could be done if everyone agrees, time for a talk!
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