We are almost at the end of March and into proper Spring at last. As well as spring cleaning the bungalow I like to spring clean the finances too. Our year is calculated from 1st April to 31st March to roughly coincide with the UK tax year. And what a year of massive increases in everything this will be......
Council tax is up by almost £100 this year
Rent up by £177 per annum
Broadband up by £36 per annum
TV licence up £5
Water bills are increasing by 22% (no actual figures yet but on previous consumption it could be around £128 p.a extra)
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Food prices are still on the rise so I'm planning even more carefully and avoiding waste at all costs, batch cooking and freezing portions. Thank goodness our energy prices are fixed until next year (June 2026 I think) and my mobile phone is pay-as-you-go @ £10 per month with unlimited calls and texts, so no nasty surprises I hope. I have insurance on my washing machine at the moment @ £6.99 per month but when it runs out in June I'm thinking of cancelling the payment and putting the money into an emergency repair fund instead.
The food budget will remain at £2860 per annum ie £55 per week for the two of us.
This brings the total household expenditure up to £13,881 per annum which takes up a hefty chunk of both our pensions. Running our cars adds another £1,000 plus fuel costs to the total so, once again, I'm thinking of giving up my car at the end of this year. I'll decide after the Summer whether or not it's cost effective depending on how much I actually use it this year.
Have you re-calculated your outgoings? Any shocks?
Thanks so much for popping in. Stay safe and well wherever you happen to be,
Angie💗
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I agree everything is going up, but not in small amounts, it's going to be a tight year for so many.
ReplyDeleteAbsolutely right Marlene.
DeleteIt does make life hard when the only wiggle room is the food budget doesn't it.
ReplyDeleteWe had a massive sort through our finances this month, a complete rethink now that Alan has his state pension. As he also has his Navy pension he's the one that pays for all our eating out and most of the coffees. 😀
My work pension starts on 1st May, which is the grand sum of £77.02 per month. Out of that I just have to pay my life insurance and my food bill. All household bills come out of our joint account which is funded by the rent from our rental property ... thank goodness.
It does, Sue, and when your income is fixed squeezing the food budget is the only way to go.
DeleteAs you say, thank goodness you have rent to top up the finances. Retirement is certainly a challenge but you are an expert at challenges! I'm sure you'll both be fine xx
Do you use moneysavingexpert.com? I went through that site and I now have unlimited calls and texts and 5GB data for £4.90. Maybe you need more data than me but 10gb would only be £5.90. A drop in the ocean of price rises but a drop is a drop! I have a SIM only deal.
ReplyDeleteYes I do. Golly, you got a good deal there! I will have to do a bit of research. After all, £5 saved per month is a decent amount of money and 5GB will probably be enough for me too. Thank you for the tip!
DeleteI'm very glad of the single person discount for Council Tax, the only expense that takes account of just one person to pay all the bills.
ReplyDeleteAnd I've heard a whisper that the discount might be scrapped at some point in the future. It would be so unfair wouldn't it. I'm guessing the councils won't care as it's all about raising money :(
DeleteOur biggest surprise was the water bill increase. Severn Trent are always quoting average figures - ours has always been above this. Last year it was £517, this year its gone up to £621! Seriously thinking of a water meter trial. Obviously our council tax has increased as well - Band B, £1970 for the year.
ReplyDeleteWe actually have a water meter, Mrs LH, and our bill was still over £500. It seems that Severn Trent have been allowed to apply a 22% increase from 1st April. As for the council tax, 4.9% increase here too.
DeleteIt's all getting a bit tight... we're the lucky ones, taught how to cook economically and budget our money at school when cookery and home economics lesson6were exactly that. My first school cookery lesson (after we had all made our own regulation aprons from identical kitchen towels) was cheese and potato pie. Shame I left my potatoes at home, and had to beg a little from all the other girls!
ReplyDeleteOh Kirsten, that made me smile :) My first school cookery lesson was also cheese and potato pie! I still make it now. However I did remember to take my potatoes to school !!
DeleteOur actual house costs have gone down a lot with moving to a smaller house. I pay £15 a month for my mobile and thats unlimited everything, but its our only phone now - no landline. OH pays all the bills as he has a Civil Service Pension + State one. Our food bill has gone up and although I'm an economical cook, sizes of everything have gone down and you are getting less for your money. We will just tighten our belts again. Xx
ReplyDeleteIt seems we all have to be on our guard still doesn't it Gill. We can't take our eye off the ball for a second 😏xx
DeleteFirst of all, how lovely to see you blogging, Angie. I missed your posts.
ReplyDeleteThis year is going to be a different one for us. My hubby retires in the Summer but we have a big holiday planned for the Autumn which we have been planning for a long time. Every bill is going up and up, so like everyone else we shall be watching the pennies when we come back.
Beverley (formally Meandmysmallcorner)
Hello Beverley! Lovely to see you again 😀 You might find hubby's retirement a bit of a challenge but how lovely to kick start with a special holiday. Will your daughter be going too?
DeleteI hope you are all well and looking forward to growing lovely things in your garden this year 👍x
Wonderful on the meal planning and freezing. One of the things I love to do to extend the life of cucumbers is to ferment them. Other things too. Makes them last a good long time in the fridge. And drying things like mushrooms when they go on the cheap. So good in other dishes later and again, extends the life of the mushroom. Here's to your adventures in saving and planning. Cheers, Ivy.
ReplyDeleteI've never tried fermenting cucumbers. We grow the baby ones so they all get eaten quickly. It's a jolly good idea though. Thank you Ivy 😊
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