Re-doing my budget.... Share your tips

[aimee-lou]

Hi girls,

Due to everything, I've decided it's time, instead of my just sticking my head in the sand and waiting for our finances to come crashing down, I'm sorting it out right now!

I'm a member of moneysavingexpert.com so have posted on there this morning ut I just wondered if anyone has any tips for dealing with household budgets when on maternity.

We have kind of had our hand forced as I have had to have time off sick on SSP so I'm practically on the same amount now as I will be on SMP (Actually we'll be better off! How bad's that!!) I just hope that I'm still eligible for it all...been working full time for a year up til now so I think I am. I'm going to be really mad and I will be filing a nice claim for loss of earnings if not!

Does anyone have any tips/hints of what they do that's maybe a trick to make ends meet?

Thanks girls xx

 

[Sarahkka]

Check out Gail Vaz-Oxlade for great budget worksheets.
https://www.gailvazoxlade.com/articles_f/article31-2.htm
In fact, check out her whole blog site. She has excellent articles on budgeting, living within your means, etc.
I used her book, A Woman of Independent Means, to get us set up for my mat leave year. She basically said to try to live on the one income as soon as you know you're preg. Longer if you're TTC. Put the money you save aside. Then you have a nice little pile of savings for mat leave year and you are used to living on one income.
In your case, it doesn't sound like you got a chance to do that.
I think it's really important to figure out where your cash is going before you set a budget. That will let you figure out which areas can be trimmed most easily.

 

[aimee-lou]

Thanks hun, that's really useful!

I'm getting there....my budget is done, my debt re-payments are re-arranged bar one and we can still eat! Woohoo!

We got a little more pay than I thought this month so we're taking the opportunity and taking the dog to the vets....oh he'll love me!

I'm just so fed up because I was just about getting us sorted (lots of debts unfortunately) and now this! But, 2 years in September is my new Debt Free day....wish me luck!

 

[butterflies]

I used to be hourrendous with my money - in the fact if i had it i spent it, it used to burn a hole in my purse.

FIL is a mortgage & finance advisor and he once said to me, when you're out shopping ask yourself "do you need it or do you want it?".
First off i thought, bog off if i want it i'll buy it, but over time his voice started ringing in my mind, and it really helped.

Hope i don't sounds as uppity as i thought he did when he said it, but if i'm honest it helped me soooo much and has really put my finances into perspective

 

[Sarahkka]

I used to be hourrendous with my money - in the fact if i had it i spent it, it used to burn a hole in my purse.

FIL is a mortgage & finance advisor and he once said to me, when you're out shopping ask yourself "do you need it or do you want it?".
First off i thought, bog off if i want it i'll buy it, but over time his voice started ringing in my mind, and it really helped.

Hope i don't sounds as uppity as i thought he did when he said it, but if i'm honest it helped me soooo much and has really put my finances into perspective

This is great advice and can be surprisingly hard to follow. It's incredible how good we are at convincing ourselves that we "need" something!