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 :-) :-)


  1. You should save that money as a standing order each month and you probably wont miss it but then have a nice nest egg to look forward too. I have some dd's that are finishing soon and that's what I intend to do :-)

  2. It's good to have a financial overhaul (planned or otherwise!) every now and again. Great savings you've made, enjoy your new car. x

  3. If you own your own unlocked phone have a look at Giffgaff. They use the O2 network and you just pay monthly for a set amount of usage - no contracts and if you find you use more or less you can adjust your payment (Goodybag) each month.

  4. Just a couple of words of warning about the pet insurance: if your dog causes an accident, ie runs in front of a car,or jumps up and knocks someone over, the likelyhood these days is that you will get sued, as is the way of this mad world now. Insurance covers that. Also, a few years ago we thought like you we would save on the pet insurance and cancel it and just before we did our dog got stones in her bladder and had to have a big operation to remove them which would have cost us thousands of pounds had we not had insurance. Its one of those dilemas, you feel you pay all that money to an insurance company and 90% of the time you don't need it but when you do....... you really do!! Also, the unknown comment above, is right. I was advised to look at Giffgaff a few years ago and can thoroughly recommend them. Enjoy your newfound wealth :D x