Tuesday, 15 November 2011

Thinking ahead for 2012

Like lots of people I have been thinking ahead for financial outlay that I will have next year. I want to save as much as possible. We have very recently paid off the credit card so now we have no debt but so far this month I have found it almost impossible to save anything. We have had a few social functions and cash has just seemed to disappear down the plughole. Partly our fault, I think that mentally we have let things slip as the card has gone so no debts to pay , but now more then ever we need to be focused to achieve our own goals for the future as opposed to repaying debt from the past. I am lucky that I have bought all my Christmas gifts so I don't have that cost to worry about. We have been invited out for Christmas and New Year so food costs should be minimal. We have bought gifts for the host's and items so that we don't arrive empty handed but we won't be going mad and stocking the larder completely for the few days of Christmas. Some of my costs for 2012 are unknown , others are fixed , but here's what I have listed for the moment;

Move House - £ ????????????? Save as much as possible

Senior School - Budgeted £400 for the uniform and other unforeseen costs. Hope to have some left over :-)

Daughters School Trip £200 - They haven't decided the exact cost but last year was £160

Car Tax - £225 - A necessary evil :-(

New Laptop - £300 - Ours is old now and slowly dying. I don't think it will last much longer

Devon - £200 - We have been invited to stay in the summer so although we won't have to pay for accommodation, we will have to budget for petrol and other costs.

So far the fixed costs have totalled £1325. It's quite scary when you stop and think about the costs you will have to pay out. This is on top of utilities, food and other monthly outgoings. I am going to show my daughter the list, I wouldn't normally show her the normal list of outgoings, but I think that it will be good for her to see how much these things cost and to picture visually the financial outlay incurred. A lot of children think that the cashpoint 'gives' you the money, if only !!


  1. Could you set up a standing order for the same amount you paid to your credit card and have it go into a savings account each month? I find that works better for me than transferring it by online banking. It's done for me, the money's gone and then I don't think 'Oh I'll use that for something else this month'.My monthly direct debit for my water was reduced recently so I amended by savings s/o by that amount. What I haven't had I won't miss.It's good that you have been invited out for Christmas and New Year - could you put away the amount of money that you would have spent on food?

  2. Good luck on your saving goals :) I transfer bits and pieces across by online banking when we can - you'd be surprised how it adds up!

  3. Get back on that horse MPB! You've done so well and had a little rest but now it's time to plan for your great future!

    Sft x

  4. We haven't saved one pence in 20 months. It seems we hemmorage money these day. Good luck saving. I'm feeling quite inspired. We HAVE to get our spending under control soon too. I haven't even thought of what we need to pay for in 2012. I haven't even done my Christmas shopping yet.

  5. Good for you Miss Piggy Bank looking forward and getting sorted for these expenses in 2012. This is how you will keep out of debt. Like Scarlet said, can you put some of the money you paid to your debt into an account to save for 2011.