Thursday, 14 March 2013

Budgeting, Spending, Keeping it all together

It's nearly April which means a new tax year, with new inflated bills (water and council tax always increase for us) gas and electric to a certain extent you can control by controlling your usage and grocery shopping is the same, however some bills are fixed.

Here is how i budget, i am still waiting on some new figures and some figures are dependant on what spare income we will have left over.  We are still waiting on final figures for this tax year to see what money we will have available to us for next tax year.

I write down how much everything costs us on a monthly basis.  I then take stock and see if there is anything i can make cheaper by shopping around.  An example of this would be car insurance, break down cover, home insurance and i save all year round for these purchases so when the bill is due the money is there to pay it off in full and i do not have to worry about paying it on drip and trying to afford the 30% apr payments each month. I always shop around and use my cashback websites
I use comparison sites to get the best deal (the ones you get paid to visit using the above cashback sites).

This year looking at my budget on paper i can see a few things i can renegotiate to get a better deal on.

Firstly the mobile phones we have are fixed to a contract till August, i have seen a sim only deal for £6.90 (the phones we have are smart phones and in fine condition) so our £29.98 a month outgoings on mobile phones will be reduced to £13.80 that alone is a saving of £194 a year.  My youngest daughter Pixie will be leaving the nursery she is at now in July when the kids break up for summer so i shall be £172 a month better off then as well.  She will be entitled to a funded nursery place in September as she will be three.  These savings will make me feel rich i'm sure.

Secondly the house insurance and car insurance which are coming up soon.

Does anybody else do a yearly budget like me?  To some it may seem boring but it has kept us afloat for the last 9 years.