Noor77's personal budgeting thread

Noor77

Registered User
Messages
446
Re: budgets

re: gyms

Miss Ribena - just so you know; I'm not against gyms at all. I was only making those suggestions about DIY-fitness in the context of Melybaby not knowing how she was going to pay her bills!
 
M

melybabymely

Guest
Re: budgets

thanks Noor,

Well my boyfriend and I are going to join the option where we both can join for 500 euros. They have a wonderful swimming pool and also free access to classes such as abs/yoga/pilates/arobics etc. We have both put on some weight and since we both need to lose about 2 - 3 stone we should start now before we go on hols in August. Which i cant wait for.

but first we are trying to work out a budget for the bills. They can be a nightmare. the problem we have is by the time we have paid for some and getting ready to put the little amount away per week were already hit with more, so its not giving us a head start to save for the amount.

We know that eircom is approx 200 per 2 months, so we are able to save 20
ESB is 80 every 2 months so thats 10
Chorus TV is 60 ever month so that approx 15 and thats it
we should be putting 50 approx away every week that would well be enough to cover for bills, but were not getting a chance to put that away, now i know that we blew it last weekend, but even paying for these bills right now is preventing us saving the regular amounts, so that when the next bills come were not ready for them either.
 
V

Vanilla

Guest
Kids clothes

I buy clothes for my little girl in all sorts of places. They range from Dunnes for vests to Tesco, to Next and I also buy on the internet. I buy her vests fairly cheaply as she out grows them so quickly that quality is not an issue- having said that, I find the vests I buy in Dunnes/Tescos are not as good as those from Next in that they shrink and discolour more easily. I have a soft spot for hannah andersson clothes and buy them over the internet in the sales- I buy ahead. These are very high quality and I am happy to pay a little more for them. However since I buy in the sales they probably cost about the same as an outfit from Next or Mothercare. I also buy from local childrens shops, as I like to support local businesses, and again although I find they are more expensive than say Tesco or Dunnes, I feel it is worthwhile from a local business perspective.
 
M

melybabymely

Guest
Re: Kids clothes

I buy alot of socks etc from penneys,
they do great offers of only 2 euros for a pair of 3, the socks are the different girlie ones with different images and designs etc. Some of them also have grips underneath to give the slipper feeling.
 
J

Janet

Guest
Re: Kids clothes

200 euro on phone bills every two months is quite high - have you looked at the way you use the phone? It's very possible you could make some savings there. Do you get an itemised bill?
 

Noor77

Registered User
Messages
446
Re: budgets

Yes, €200 on the phone is quite high. I don't have a landline..and use my mobile for everything and spend about €30 a month maximum on it. I try and text as much as I can instead of actually making calls
 
M

melybabymely

Guest
Re: Kids clothes

Hi Janet,

The 200 for eircom breaks down as follows

Line Rental
Broadband 90 (exc Vat)
Calls are about 20 - 25 every 2 months

with vat on top of that is usually works out between 180 - 200 euros.
 

Noor77

Registered User
Messages
446
Re: I know it's a bad idea but ....

I am seriously thinking of getting a small loan of €2,000 to buy some really good clothes. I know this is daft, but maybe it makes a little bit of sense??????

I would pay back €50 every two weeks
 
M

MissRibena

Guest
Re: I know it's a bad idea but ....

I think I've possibly heard it all now :)
 

ClubMan

Registered User
Messages
45,302
Re: I know it's a bad idea but ....

I know this is daft, but maybe it makes a little bit of sense??????

It's one or the other. I personally consider it the former given that this topic originated with your wish to gain better control of your finances/spending.
Noor77
Registered User
Posts: 20
(21/2/05 4:17 pm)

What am I doing wrong???

Basically, I need a little help as I never seem to have any money.

...
This topic doesn't really seem to be going anywhere at this stage and people seem to be simply rehashing the same old questions, comments, suggestions and advice. Perhaps it's time to close it?
 

Noor77

Registered User
Messages
446
Change in Circumstances - new budget needed!

Hi,

Due to a change in circumstances I need to re-do my budget and would love some assistance.

Income: €630 per week after tax
Mortgage: €850 per month
Gas & ESB: €150 per month, combined
SSIA: €254


Doesn't leave me much spare!
 

ClubMan

Registered User
Messages
45,302
Re: Change in Circumstances - new budget needed!

What was your old budget?
What was the change in circumstances?
Are you sure about your net income this time?
I thought that you had other sources of income?
Doesn't leave me much spare!
€630 p.w. net is ((€630 * 52) / 12)) = €2,730 p.m. net.
Less the expenses above leaves €1,476 p.m. or €341 p.w. How is that not much to spare?
 

ClubMan

Registered User
Messages
45,302
Re: Change in Circumstances - new budget needed!

Sorry - I wasn't paying attention.

Get rid of the lodger and get a paying punter in.
 

Noor77

Registered User
Messages
446
Re: Change in Circumstances - new budget needed!

Sorry,

I should have outlined the change in circumstances - lodger leaving after 3 years. I don't intend to get anyone else in. Hopefully anyway.

I would like to save €6,000 over 2 years to do some home improvements. I am not sure if it is possible. I have the SSIA money earmarked for something else
 

ClubMan

Registered User
Messages
45,302
Re: Change in Circumstances - new budget needed!

€6,000 over 2 years is less than €60 a week ignoring any growth/interest. You have €341 p.w. "spare" according to the details that you have posted. That leaves €280. What's the problem?

Alternatively if you own a chunk of equity in your house now or in two years time then depending on the LTV (Loan To Value) ratio topping up for home improvements may be a suitable option.
 

ClubMan

Registered User
Messages
45,302
Re: Change in Circumstances - new budget needed!

Ah - maybe this (my underlining) is your problem and the reason that you are likely to be in debt forever unless you make changes to your cashflow management.
Noor77 said:
I was recently declined a home improvements loan from Bank of Ireland - they told me it was because I was overstretched!!!

I pay €850 a month in mortgage payments, and spend about €500 a month on my VISA - I pay back 70% every month.
I don't understand how you omitted this spending pattern/debt building strategy in your budget outline above. Not much point in asking for advice when the fundamental data is incompleted or flawed.
 

Noor77

Registered User
Messages
446
Re: Change in Circumstances - new budget needed!

All my visa expenditure is discretionary. I have stopped using it as of yesterday!!!
 

ClubMan

Registered User
Messages
45,302
Re: Change in Circumstances - new budget needed!

What are your outstanding CC debts and interest rate applicable?
Do you have other debts or savings/investments?
What other information (if any) is missing from your budget outline above?
You haven't explained why €341 "spare" p.w. (or €280 after deduction of €60 savings towards €6K in two years) is "not much".
If your lodger is not paying his/her way have you decided to get rid of them (I haven't read the other thread)?
 
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