Monday, 30 December 2013
2014 Budget - bills
I've been brave and have dived into the paperwork to work out how much my monthly outgoings are to the penny. I had a rough idea of what they were *insert embarrassed face here* but when I looked at each bill I got a wee shock from some of them.
I'm now paperless for most of them and confess that sometimes I don't look at them online. But yesterday I looked at my December BT bill in detail. I get free evening and weekend calls yet this month I only made 3 free calls. I looked at my statement and discovered that apart from 2 official calls nearly all the other calls were to my MUM!!!! Total cost of calls £23.54! On closer inspection of the fine print I've discovered that my free evening calls are from 7pm to 7am, not 6pm as I had assumed. DOH!!!
So, each month I automatically pay for
mobile phone (Vodaphone)
pet insurance for Emma
TKD fees (the Teenager)
NTS (National Trust for Scotland)
contact lenses (the Teenager)
I haven't set up a DD for electricity and gas yet but I will at the end of March after the next quarterly bill. I'm going to send in my meter readings on the first of each month so I get an accurate bill and not an estimate.
I've paid my 2013/2014 council tax bill until April then the new financial year starts and I'll get my next bill. I haven't decided yet whether to pay that monthly or in one lump sum. Depends if I'm working full time and can save my earnings.
I've also just paid my car tax (6 months) and car insurance/breakdown cover. I paid my house insurance in September when I moved in. It's cheaper to pay insurance in one lump sum.
Next year the big bills look like this -
April - Council Tax
May - Car tax
August - gym membership
September - House Insurance
October - OU course (LAST ONE!!!!)
November - Car tax (unless I've paid for 12 months in May)
December - Car insurance/breakdown cover
I realise this isn't entertaining reading (LOL!!!) but writing it down reminds me what I need to pay. And hopefully it might jog someone's memory.
Looking at the numbers closely clarifies a lot of things for me. I've decided that while I'm earning from teaching I will save at least 50% of my salary each month. This will ensure I have enough to pay the bills when they come round and can live on the other 50% each month.
I'm still aiming to save that £40k by the time I'm 50 :-)
Edited to add gym membership in August, perhaps a luxury but there are health issues in my family and I have a real fear of becoming overweight and inactive in old age