Archive of ‘Budgeting’ category

How the Budget Will Affect Working Parents

tax credits and budget 2015More than a month since the Budget and I think I may be finally getting my head around it.  The main point to the budget was, according to the Conservatives, “to make work pay”, yet the biggest losers of the budget were hard-working, low income families as the focus was on cutting working benefits.

All over the country, working parents have been posting on social media their worries about how to make ends meet in the future and yet, I worry that there is even worse to come.


Food shopping on a tight budget

Food shopping on a tight budgetNow that I have resigned from teaching – see my reasons here – I’ve had to take another look at my budget.

I usually pride myself on being careful with money but in September, with less money coming in, I will have to be even more careful.

I typically spend £85 a week on a main shop – food, cleaning products, toilet roll etc – plus another £10-£15 a week to buy fresh items as needed.  I don’t feel that’s too bad for a family of six, but it is a total of £100 a week which is a large amount of my budget.   (more…)

Managing money in three easy steps

I’ve always been careful with money but since only having one income and becoming a single mum, I have to be even more careful with the budget.  I have three ways of budgeting and I recently shared them with my sister who, won’t mind me telling you, was constantly going overdrawn and being charged for it.  Since we sat down for an hour and I told her my three ways of managing money, she hasn’t been overdrawn (even with Christmas to buy for) and has enough money for treats.

There is nothing magical in what I do, it is simply about being organised.  In the hope that I may be able to help others, here are my three ways to budget. (more…)

Tips to reduce monthly outgoings

budgeting mum large family

Like a lot of people, I don’t have a bottomless bank account and there’s not usually much left in it at the end of each month.  However, I have learnt some ways to save a bit of money here and there to reduce monthly outgoings.

The first thing that I did was start an excel spreadsheet with all the monthly outgoings on it and my income.  This really helps to know exactly how much is needed each month and whether there is a shortfall.  But if you are creating an accounts sheet, don’t forget to account for the small things as well as the big things.  So as well as the mortgage/rent, allocate how much is needed for car parking, mother and toddler groups etc. (more…)