Is this an average monthly figure for the year or just what it is now before the winter starts?ESB: €30
Are you on the "best" package for your specific needs? See www.callcosts.ie for example.Phone: €50
Get rid of this - it's a luxury.Sky: €22
What insurance? If contents then is this (€360 p.a.) the best deal on offer? I am paying significantly less than that for home and contents insurance for example.Insurance: €30
Have you claimed the rented accommodation tax credit? And any other common tax credits open to you?Creche: €325
Rent: €700
What was this taken out for?Loan Repayment (15k over 5 years taken out 3 months ago) €321
Do you habitually have a CC balance outstanding? Obviously if your budget is tight then you should avoid living off high cost credit as well.Credit card (balance is 300) €30
You do according to your post above.Do you own any investment or other property?
No.
The original poster is already renting so I presume that this is not a runner?Take in students (you'll need to have good access to a city for this) or a lodger.
Could you do without the car & cycle/walk/bus to work?
Ask your boss for a rise?
Look for another part-time job (especially if you could find someone to take care of your daughter for a few hours)
Take in students (you'll need to have good access to a city for this) or a lodger.
Is there anyone could mind your daughter after school...often cheaper than creche fees
People don't generally "give out" in such situations. They just respond to requests for advice/comment. Sometimes the person who asks doesn't like what s/he hears back but that doesn't necessarily mean that it's wrong or bad advice.I know everyone is going to give out and say I am making excuses but here we go
And presumably sub-letting would probably not be allowed? You are renting aren't you?Taking in students. no can do. No college nearby and I only have a small 2 bed townhouse.
And presumably sub-letting would probably not be allowed? You are renting aren't you?
If/when you have a spending diary covering a few weeks perhaps you could post some details? Remember that you need to be very precise with this covering all expenditure including day to day expenses, weekly/monthly household expenses, unplanned expenses etc. Also - the usual stuff applies here - can you cut down on daily expenditure by, say, bringing a packed lunch etc. instead of buying one and so on...
Similarl(ly sized) place for cheaper sounds like the best idea to me.I will see in Dec if they will drop the rent, if not I will move if need be. Don't necessarily want a bigger house (more expensive to run) but i will try and find a cheaper place if possible.
Do you mean that you aren't already doing this? Your original post suggested that you were. You need to be very rigorous and systematic about this if you want to do it properly.i will also keep that spending diary.
You need to clear your debts first before you start saving.Thanks all. Plan is to put about 80 pm into a "rainy day" fund for emergencies leaving approx 160 pw for everything else.
Sounds like you may not be economising to the full extent possible already. No offence but some of these things are obvious and if you are not doing them already then I suspect that you may not really be serious about dealing with your financial situation. Some people may consider this "giving out" but I consider it an objective and probably accurate assessment given what you have posted to date.I'm going to really cut back when doing the weekly shopping, make a list and stick to it. Will start bringing lunch to work and generally cut my cloth to suit my means.
If she already had savings, I would agree with this advice. However, she doesn't. As it stands, if there was an emergency for money, she's at the mercy of begging to friends and family or the banks.You need to clear your debts first before you start saving.
Is there any chance you would qualify for rental assistance as a low-paid, single mother?
Another thing, €50 a month seems quite high. I assume you're with Eircom? Is there any way you can get rid of the phone and stick with your mobile?
And presumably sub-letting would probably not be allowed? You are renting aren't you?
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