Money Monday - small steps

~ Every journey starts with a single step ~

so despite our little blip when Owen was in hospital our spending this month hasnt been to over the top, although this went awol when we had to pay for tunnel fees, hospital food, petrol, but trust me this was a small price to pay, but we have dusted ourselves off and onwards and upwards, small changes we are going to implement this month.

1. Try and meet all direct debit payments, saving bank charges @ £20 per item

2. Stopped our bank account with an overdraft/debit card and changed to bank account with no overdraft facility and one of the new O2 money manager visa cards, a visa card that you load up as and when and can only use what is available, no cross over transactions and text notifications when money is added or debited.

3. Keeping our spending to a limit, our proposed spend on food for October is £200 which averages out at about £50 per month, £50 will be loaded onto the O2 money manager card and kept specifically for food shopping, if we use less then this is carried over to the following week, and any overspend will be saved up for Christmas, which I have always started buying little bits for in September when the kids go back to school

4. Cook properly, I always try to whenever possible cook from scratch, but sometimes I find that it isn't always the most economical way with all the supermarkets competing at the moment, especially when the recipies ask for 1 of and you have to buy a whole packet of, so what I have tried to do is to cook double the quantities of easily freezable stuff (like stews, sauces, cassaroles etc) which I find cheaper and also means that we still have home cooked food on the two days that I do work ( because bless him my hubby still thinks that his version of home cooked is to read the oven instructions !)

5. I am also going to try and eke out meat as much as I can, again working out to be more economical, for example yesterday I cooked a medium chicken for Sunday Lunch, instead of putting loads of meat on the plate I put a little less on and padded the meal out with Vegetables, I took the rest of the meat off the carcass and then boiled the carcass to make a good stock along with whatever meat came off the bones, I can then make a chicken and bacon stew out of the stock and then we can have a chicken omlette with the rest of the meat so out of 1 medium sized chicken we would have made 3 meals

Chicken £ 4.00

Sunday Roast Veg £ 2.00

Stew veg and Bacon £ 1.50

Eggs for omlette £ 1.00

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Total £8.50

For 3 meals for a family of 5 - not bad eh !!

see you next time x

Money Monday

For this post I thought honesty would be the best policy. Now that the kids have gone back to school I have had a mid year recap on what we set out to do in our resolutions. Financially we are still pretty much in the same situation, but has now come to a head and needs to be addressed - not because it is getting worse but just because I am fed up of the money situation dragging on.

So anyway after going to the bookshop to try and find a book to help us in our situation, there isnt one definitive book that I could find that deals only on tips to get out of debt, sure they all contain a chapter on getting out of debt, but then the remaining 3/4 of the book is not relevant to me, why would I need chapters on savings and investments???? give me that when I am OUT of debt, plus all of them held some information but not all, and then I thought, surely the first step in saving money.... is to not spend money on a book telling me how to save money !!

After an indepth look at our finances we are just under £17,000 in debt, (this doesnt include the mortgage) included in this is a £12,000 loan which we took out over 20 years in order to keep the payments down to a minimum but looking at the small print it totals (when you add the interest)that we would owe £35,000 !!!!!!!!!. since looking at our finances I have figured a way that all debt can be paid off within 7 years - without it being too much upheaval or cutbacks.

I also chose to share this information with you at the START of my journey so that we can all live it together if you choose to join me on being debt free rather than sounding all preachy at the end of it, yes it will be tough, yes there will be times im sure I would rather throw the towel in and buy something pretty and blow the budget, but all I can hold onto is that light at the end of 7 years (if not sooner)

We have already had a kick start to our budgeting by default - the second car (which has always been needed for Mark to get to work at 5.30am) failed its MOT and needed to much work to put through so that was scrapped, profit (£80) but on top of this we do not need to pay £120 p/yr Tax, £40 p/yr MOT, £300 p/yr Insurance, £65 p/mth Petrol. so in all it will save us £1240 p/yr

So in order for Mark to get to work now we are in the process of trying to find a small 50cc scooter/moped for him to ride(its too far for a bicyle)which on average will cost us £500 to buy, £15 p/year tax, MOT £15 p/yr, £100 p/yr insurance and £8 p/mth petrol Saving us (without including actual purchase price of scooter) £1014 p/yr.

I have picked up some other tips frugal living, budgeting, saving tips whatever you want to call them, so over the next days, weeks, months, years I will share them with you along the way.

Menu Planning

Before I start - can I again please appologise for my lack of posting - back up to speed now and am bursting with ideas for you. so for starters here is our menu for this week.

We are having a very cheap week this week not an awful lot of money to spare this week, so have had to draw on all of my budgeting and cooking skills, but seem to have pulled it off !

Sunday - Sausage Cassarole and Mashed Potato
Monday - Shepherds Pie
Tuesday - Chicken in White sauce with Rice
Wednesday - Spanish Omelette
Thusday - Spagetti Bolognase
Friday - Lasagne and Chips

All this including food for school lunches, milk, bread, dog food etc for a family of 5 cost £35.00 not bad eh!

The future plan is to continue in this fashion even on the weeks that money isnt as stretched (its always tight!) then even a couple of pound saved will gradually over time build so that we have a small buffer zone incase of any emergencies

Hope you are all keeping well and I promise I will be more forthcoming with the posts !!

Love to you all x

budgeting planning

One of the additonal tools that I have implemented, is I have started to carry along 2 small notebooks, 1 for day to day spending, (or you can adapt your day to day diary for this) one of the problems that I personally have is that I have an amount of money in my purse and by the end of the day it has been frittered away and you spend the next half hour or so trying to recall where you have been throughout the day, that is where the notebook comes in when you have paid and are waiting for your change just make a quick note on how much the purchase was, you may get some strange looks from other customers but as far as I'm concerned you probably wont see them again (unless they follow you around to see what you are writing!) and you will then have at the end of the day a concise record of where your pennies are disappearing to.
The other notebook is what I do my menu planning in. One page, menu for the week, next page shopping list, and next to the items I write in a rough costing of how much each item is (or how much I want to spend up to) with being on a tight budget this gives me the scope to adjust the list to fit in with the budget. Finally when I get home, - and this may seem a pointless and thankless task - I go through the receipt and then list by each item the actual cost, and then to list seperately items that have been bought not on the list, this is where I normally find all the extras that have slipped into the trolley which is where of course all the extra pennies slip away. Although this may seem time consuming, its a task that only needs to be done as often as you shop. and if you are living to a tight budget or trying to pay off debts - or in our case both it needs to be done, make every penny count, and as the saying goes look after the pennies and the pounds will take care of themselves.

The Other Love of my Life

Once upon a time many many years ago when I was only knee high to a grasshopper a pop group burst onto the scene sparkled so brightly and then left, left me in a wilderness until earlier last year when they announced they were reforming I was beside myself with excitement who am I talking about - New Kids On The Block - as soon as I heard I was like a teenager again - much to the entertainment of my hubby who has never seen me like this before and I finally got to meet them, paid an extortionate amount of money (which probably accounts for budgeting going pear shapped in previous post !!) by attended a meet and greet with them and finally got to meet my heart throb - Donnie Wahlberg !!!! I presented him with a Liverpool Football club shirt and then he wore it EVERY night in the last song of the show - what an amazing experience - cant wait to do it all again - will budget more carefully this time ! Lets Get This !! I love em x x x x

Budgeting

So we are coming up to the end of the financial year, tying up loose ends, filing all up to date, ready to be archived.

Right.... and then I woke up and smelt the coffee, unfortunately towards the latter end of the financial year things have gone a bit pear shaped, so another one of my mid-year resolutions is to get more organised, and to try and get straight financially.

I'll be honest with you this year has been a struggle, living from one pay day to the next, and for a family of five, with a mortgage and loan to pay off it really hits home.

The things that you do learn along the way are lessons that money cant buy such as:

1. who your friends are - your real friends are the ones who accept that things are tight at the moment and wont pressure you or treat you any differently

2. How to cook properly - I have always (as far as I can- and I do have the odd slip up !) made meals from scratch, even on junk food saturday we make our pizza, but I have learnt how to cook more creatively with leftovers, making stock and making up stews, bulking meals out with more vegetables and freezing leftovers and also turning the ratio to putting veg on plate first and adding meat as a side dish.

3. how to budget, although we are paying off loans, - if we stick to our budget plan (pear shaping taken into account ! we still aim to have these paid off by mid next year, I have also found a great web site that has great advice http://www.moneysavingexpert.com/ advice and tips for claiming back any money due to you and up to date money saving coupons, and much much more

4. that any family can adapt no matter how young or old each family member is, you may have to explain in simpler terms but we try and explain to the whole family that there wont be any luxuries for a while and they seem to accept the small changes.

5. the wide variety of free activities that are available it may take a while to find them by searching various sites but the rewards are amazing.

6. Love of my family, as dramatic as it sounds - with my husband and my children by my side we are a team against the world, in times of crisis, be it financial, emotional or physical we pull together no questions asked, we as parents lead by example and if we manage to keep the family buyant then the kids are great.

anyway going back to my organisation for budgeting, in advance of 6th April I have, 2 lever arch files, one for wage slips/bank statements and the other for bills, a diary to write down any upcoming direct debit /standing order dates, 2 small notebooks (one for menu planning and one for day to day spending records) so we are all cooking on gas ready for the start of the new year and together we will do this - debt free future here we come hopefully - Ill keep you updated as we travel along this rocky road - wish me luck - Im going in !! x

Frugal Living

So this weekend the whole family was set to work, husband has just put up our new greenhouse, and the kids and myself have all spent the day planting seeds in our new resolve to :

1. cut back on weekly foodbill helping the family budget by growing our own vegetables

2. eat more healthily

so here we are, surrounded by trays of soil, full of the wonder of nature waiting to burst out. so far we have planted 2 types of tomatoes, strawberries and carrots, to be joined next week by 3 sacks waiting to be filled with differing varieties of potatoes. keeps us all healthy, helps to teach the kids where food comes from and how easy it is to produce these small nuggets in your own back garden. we have, by no means an orchard in our garden we have an average sized garden, but one tip that I have learned is that no matter how small your garden is you can always find space to plant some seeds, be it, herbs in flower beds, or hanging varieties of tomatoes and strawberries to plant in hanging baskets, (although hang them in the back garden otherwise all your visitors will eat them while they wait for you answer the door !!)

so hopefully, in a few weeks I'll have some seedlings to show you before they are planted out in the big world.

Wish me luck !!x