Wednesday, 12 October 2016
Cutting my monthly costs
I mentioned recently I'd bought a new car. I wasn't planning on changing my car (Honda Civic). I got it brand new nearly 3 years ago not long after I started working again. I had a deal that involved me paying a deposit then making a monthly payment for 3 years. I then had to pay the balance off and the car would be mine outright. And that's what I was planning to do in February. I'd been saving up so the money was already there. My almost 3 yo car had a very low mileage (11,000 miles) and was in good nick. I was happy with that deal.
But then I got a phone call from my dealer to say they had a special offer (yeah right!!) and had 10 brand new cars just like mine but the Sport version. I wasn't really interested until they said they could buy out my contract and just swap my old car for the new one. Still not tempted. Oh and it would be cheaper monthly payments. Now I was interested. How much cheaper? Just under £40 a month! Enough for me to seriously consider it.
Turns out the Civic is getting an upgrade in 2017 and they wanted to get rid of their backlog of the current model. I read all the small print. It really was a good deal. So I agreed. I collected it today. It looks like the one above except it has black alloys (whatever that means) It has lots of fancy gadgets like reversing cameras, cruise control and a special braking 'thing' that stops you hitting another car. All I care about is it's nice to drive and I have piece of mind that my car will get me safely where I want to go. And I've cut some of my monthly costs.
When The Teenager went off to university it was agreed that his dad would fund him (part of the divorce settlement) and so he would meet his own costs. So from the end of this month I am no longer paying for his phone contract (£33), his contact lenses (£16) and his TKD membership (£46). I'm also going to cancel my Tesco pet insurance as it's gone up from £15 a month to £39.26!!! Not sure if I'll take out another policy yet. I'm also planning on changing my bank account from a fee paying one (£13.50 a month) to a free one that rewards me for using it.
With all these changes I make that savings of just under £190 a month. Or a whopping £2280 a year! YIPPEE!!!! And when my own phone contract is renewed in December I'm hoping to save a few more pounds.
That's a few more pounds added to the pension pot :-) :-)