Will You End 2017 Richer Or Poorer? Time To Plan Your Year With Saga

Readers of this blog will know that I am a big fan of budgeting and putting a bit aside for a rainy day. This is something that the Husband and I drill into the kids on a daily basis.

There's nothing like teaching them the power of anticipation and the value of saving up for the things they really want.

I think I inherited this from my parents.  I can still hear dad's voice behind me when about to squander my pocket money on a copy of Jackie or some Black Jack chews (4 for a penny!). "You don't really need that, do you?" he used to say.

Mum and Dad were both born in 1939 just in time for World War II and having experienced rationing their attitude to saving is a lot more stringent than that of most Millennials.

When you're young you always think you'll live for ever and you really can't envisage the day when you'll need your pension - or what desperate circumstance might arise when you'll need to get your hands on some cash quickly.

Minecraft is Ieuan's number one shopping item

When you become a home owner (which is increasingly looking a rather remote possibility for Caitlin and Ieuan), it is often a bit of a shock to be landed with bills for replacing a boiler, rewiring the electrics or fixing a leaky roof!

Equally, though, you don't want to spend your life always worrying about whether you should be enjoying yourself.  We are only here once (depending on your personal beliefs of course).

Life is too short to wallow in guilt about treating yourself occasionally.

Planning your financial year is the answer.  This January Saga are running the #SagaPlanYourYear Campaign.

Saga offers a range of products and services exclusively for the over 50s, including insurance, holidays, money and the UK's best selling monthly magazine.

They are encouraging us to pick up our pens and planners (some of us still haven't got to grips with Google spreadsheets) and create a budget which will cushion us against financial shocks whilst still adding a frisson of excitement to 2017.

And I'm sure we are all looking forward to a more exciting and happier year than 2016 which seemed to chiefly feature Brexit, the terrible war in Syria, the looming nightmare of Donald Trump and the grim reaper happily cutting swathes through celeb land.

Those of us over 50 are aware that retirement is, if not exactly looming on the horizon, something that needs thinking about.  Saving is pretty critical in these years and you really don't want to be dipping into your savings pot to fund large items of expenditure.

I'm sure most of us don't want to start taking out large, and often expensive, loans either.

One way to release funds for things such as home improvements like a conservatory or adapting a property to meet mobility needs, or that long promised cruise, is by equity release.

Now obviously you will want to make sure that you take independent financial advice to look at your finances as a whole and to plug any gaps which might need urgent attention - especially your pension and possibly funeral planning.

But equity release may well work for you. This is where you obtain funds derived from the value of your property whilst still being allowed to live there.

Saga helps those over 55 with its equity release service. Used sensibly, this can help you gain greater control over your finances.

So, what action points are on the Hobbis Family's planner?

Caitlin plans to raise money by selling the family's endless supply of coat hangers

Here's our top 5.

Plan for Christmas

Still far and away our biggest expense.  This year we're trying to save £3 a day up to the first of December which should give us £996.

Pay Off Our Holidays

We have two weeks in Devon booked with Toad Hall Cottages and need to pay off the balance around March.

If our funds will stretch I'd like to take an extra week towards the end of the summer holidays (when everyone is in dire need of something to remove the boredom and boost the spirits!).

I'd also look to have a few shorter breaks and take a lot more day trips.

Budget for carpet

Just the word tends to make my soul sink but it has to be done.  We took all the carpet up hoping that wood floors would help with allergies and reduce dust.

They do, but the house creaks in the night like an old galleon and it's impossible to creep about without risking waking the kids.

Plus we're hoping to dampen the sound of our next door neighbour's occasional belief that he lives in a night club in Ibiza and ramps up the volume of his stereo accordingly.

We'll make sure we time our purchase around bank holidays and general sale periods when there are often great deals to be had.

Reduce our food bills

The key to this is menu planning and shopping list writing. It's something I'm still trying to discipline myself to do.

Otherwise it's too easy to wander round Tesco throwing 'things you fancy for tea' in a trolley which, 9 time out of 10, wouldn't make a nutritionist very happy.

Then there's Ieuan's "Mr Kipling" habit but since Mr Kipling's cakes are rapidly reducing to the size of microdots, it might be time to get baking again.

Save more by using vouchers and discount codes

If you avoid impulse buying and plan your purchases sensibly you can often save by buying through cash-back sites like Topcashback which is free to use.

So that's our top 5. I think it's a good idea to sit down with the family (and the kids!) and discuss financial objectives for the year.

It's never too soon for little ones to grasp that their parents have to work for their money and that there are some things which have to be paid for before Roblox, Minecraft and anything with a puppy printed on it.

Have you planned your financial year yet?

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Staying Afloat In A Rising Tide Of Debt: Practical Tips That Will Give You a Lifeline

From time to time, we all go through periods when everything seems to be against us, and we just can’t make our money stretch far enough.

One minute you’re fine, the next you’re wondering what else could possibly go wrong. If you’re trying to stay afloat in a rising tide of debt, these practical tips will hopefully provide you with a lifeline. Stay strong. There are ways of getting out of debt, and getting your life back on track.

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Budgeting for life’s expenses

In life, there are certain things that are more costly than others. Planning a wedding, buying a house, raising children, caring for a pet, and running a car all cost money. Sometimes, being a responsible adult is an incredibly expensive business.

It’s wise to budget, even when you’re not anticipating parting with large sums of money. If you draw up a budget every month, it gives you a clear picture of how your finances are looking, and reduces your risk of overspending. Budgeting is even more essential when you’re saving for a deposit, buying wedding dresses, titanium rings, and top hats and tails, and paying for new school uniforms. If you’ve got an expensive few months ahead, make sure you get to grips with the sums.

Taking out and paying back loans

Many of us take out loans to cover unexpected costs or help towards home improvements, buying a new car or paying for a honeymoon.

If you are considering borrowing money, don’t rush into making a decision. It’s essential to compare offers you have on the table, and to ensure that you understand the terms of the agreement, and what it means for your finances going forward.

Make sure you can afford the repayments. If you fall behind, this can affect your credit rating, and you may face legal action. Once the repayment schedule begins, factor this into your budget. Try and avoid taking out loans with very high interest rates. You’ll end up paying much more than you borrowed, and you may find it difficult to keep up with the repayments.

Asking for help

If you’re in debt, the sooner you ask for help, the better. Debt can spiral out of control rapidly, and before you know it, it’s affecting every aspect of your life. See a financial adviser, and they will be able to help you to draw up a strategy.

If you work for yourself and find yourself running into difficulty, don't forget to ask your accountants for advice.  Their experience will stretch further than just business matters and they may be able to help in the restructuring of your debt and with the putting in place of plans to help your business survive this tricky period.

If you have multiple debts, it may be advisable to take out a debt consolidation loan. Another option is to investigate an IVA (individual voluntary arrangement). Don’t be an ostrich. If you bury your head in the sand, the amount you owe will only increase. Sadly, this is one of those problems that won’t simply disappear with time.

A growing number of people are in debt. It’s always best to try and prevent getting into trouble, and budgeting is a really useful tool. If you’re already in debt, try and nip the problem in the bud. If you can clear debts quickly, there’s a much lower risk of you coming unstuck. When you’re in debt, you often find that the issue gets worse very quickly because of late payment and interest fees. Ask for help, and try and be open and honest with the people closest to you.

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How An Expensive Week Could Lead To Years Of Debt

Last year we tried really hard to improve our savings.

We took the 365 Day Penny Challenge and managed to save a small fund for Christmas. Even so, we still needed to find extra funds for additional presents and food.

In general we're really careful with cash because, unless you have a savings buffer, you can find yourself in dire financial straits very quickly.

The Husband has employment protection insurance but, even so, if he were to lose his job, our mortgage would only covered for 6 months.  I would almost certainly have to go back to work full time.

We all hate paying insurance premiums but unless we have got adequate cover, one small hiccough could bring the bills rolling in.

Take a look at this nightmare scenario put together by debt management service PayPlan which shows how your financial situation could get worse in just a week!

*your boiler could break down (and you don't have a boiler service contract)

* someone could prang your car and just drive off (happened to us in August!)

* the school could arrange a costly school trip (our local comp organised a trip to New York!)

* your pet could have an accident

* you could break your glasses 

* you could lock yourself out 

and on and on.  

Actually I'm starting to feel quite brave just getting up in the morning.  Sometimes it seems that everybody wants money off you though, doesn't it?  

And this is without the usual hikes to council tax, water rates, fuel and utilities.

So I would strongly advise you try to put a bit by in case of emergency and check your car and home insurance policies carefully to see what's included.  

Some car policies will include breakdown insurance and some home insurance policies offer an emergency hotline.  

Having owned a couple of cats in the past I would never take on a new pet without pet insurance. Bear in mind too, that not all vet costs will be covered.  Annual innoculations, flea products and teeth cleaning for a start. 

So what do you do if your debts are starting to spiral out of control?

It's easy to feel overwhelmed by your debts

Firstly, don't panic.  

Sit down and write out a list of all your debts and then prioritise them.  The most important of these to pay will likely be your rent or mortgage.

You can also take professional advice from a debt management service such as PayPlan who offer free advice on a wide range of debt solutions including debt management plans, individual voluntary arrangements and self-employed individual voluntary arrangements.

An Individual Voluntary Arrangement (or IVA) is a formal agreement between you and your creditors.

In simple terms, you agree to repay a percentage of your debt in affordable monthly payments over a given time (usually around 5 years) and once your final IVA payment is made, your creditors agree to write off the rest of your debt.

No more demands and threats from your creditors and a way of avoiding bankruptcy.

No matter what your situation, help is out there.  And in terms of savings, why not start an emergency fund today - even if it's just a couple of pounds.

I find that taking some action, no matter how small, always makes me feel better and less stressed.

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Why You Don't Have As Much Money As You Want To Have

If you started a discussion with just about anyone you passed on the street and asked them about their financial situation, they’d likely admit that they would like more money.

Many people don’t have as much money as they want to have, and they don’t know what to do about it. If you want to know why you don’t have as much money as you’d like, this post might open your eyes!

You Haven’t Got A Handle On Your Finances

You must have a handle on your finances if you want more money. Make sure you know how much you have coming in and going out. Make sure you know what you spend and what on. Create budgets for everything. It isn’t about scrimping and saving, it’s about being smart with your money and knowing exactly what’s going on in your accounts. You can download apps for this, or you can simply make a note of everything on your phone.

You Don’t Plan Your Purchases

If you don’t plan your purchases, you likely look at your finances later on and realise you have essentials to buy and end up with less money than you should have. If you want to buy something, make sure you think about it for at least a week before splashing the cash. If you still feel like you want it after a few weeks, then it could be a worthwhile purchase. In some cases, you’ll forget all about the urge you had and save money as a result!

You Don’t Look For Discounts And Deals

Looking for discounts and deals can help you to save money on pretty much anything you buy. There are so many places you can look for them, including sites like DontPayFull.co.uk. You might only save a small percentage or get free delivery if you’re buying online, but it will all add up.

You Don’t Have Financial Goals

Having financial goals is important if you want to have more money in the future. How will you make a plan to work towards it if you don’t have a goal? It’ll simply be a wish! Set your financial goals for a year from now, 3 years, 5 years, and so on. This will help you to stay focused!

You Have A Bad Attitude Towards Money

Many people don’t realise that they don’t have that much money due to their attitude towards money. You might think this is irrelevant, but some of the most successful people in the world would disagree with you. A money mindset and positive attitude towards money is vital if you want more of it. Get rid of you negative beliefs and feelings around money and it’ll begin to flow to you more easily. Try it!

Hopefully this post has cleared up a few things about you and your relationship with money. Use the tips right away and you won’t believe how much your financial situation can change! Do you have tips of your own? Leave them below!

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Do You Have What It Takes To Become A Landlord?

So, you’re thinking of becoming a landlord. It isn’t easy. You might think that all you need to do is get a buy to let mortgage and you can start seeing that extra income in your account each month, but that isn’t the case. If you want to become a landlord, a lot more thought needs to go into it. Here are some tips you can use and valuable advice:

Choose a Reliable Company to Help You

A reliable company will always make your experience as a landlord that much easier. It’s up to you whether you want to do this or not; you might not think it’s necessary when you only have one property to handle. While this is true, you need to bear in mind that it’ll be up to you to handle emergency calls in the dead of the night. If you find a reliable company to help you, they’ll sort any issues out as fast as possible and all you need to do is pay. They can help you with lots of different things, so it’s a case of discussing your needs and setting something up that suits your budget.

Don’t Assume Your Property Will Always Be Occupied

So, you think the money is just going to keep rolling in every month? That’s highly unlikely. There will be times your property is not occupied, whether that’s for a few weeks or a few months. You should have money in reserve in preparation for this, so you don’t end up left in the lurch. It all depends on how long it takes to get somebody living there again - a company could help you with that too.

Ensure Your Property Meets the Standards Expected and is Safe

You can’t just rent out any old property. If you’re going to do this legally, you need to make sure your property meets the standards expected and that it’s safe for the occupants. If not, you could get in big trouble. You’ll need to arrange for it to be checked over as often as required and make the repairs necessary. You may need to arrange something small like communal dish installation, or something more complicated like an appliance replacement. Whatever it is, you need to make sure it gets done in a timely fashion.  

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Go Out of Your Way to Be a Good Landlord

Not only do you need to be a good landlord by following the rules and making sure everything is legit; you need to make sure you’re a good landlord to your tenants. Keep them informed on things they need to know about, wish them a merry christmas. Buy them some wine when they move in. When they like you, they’ll be more likely to respect your property and give you lots of notice if they decide to move out. You should get your rent on time too!

So, do you still think you have what it takes to become a landlord? It can be a lucrative opportunity but only if you do it right!

*PR collaboration

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Online Cashback Schemes - I'm Confused!

I'm beginning to realise that making the most of cash back schemes and loyalty cards requires quite a bit of planning and strategy when it comes to your weekly shop.

I had a look at Quidco's site today and my head was in a whirl by the end of it - and I consider myself quite a savvy shopper. Each time you shop via Quidco, the retailer you purchase from pays them a referral fee which Quidco then pass back to you in the form of cash back. They say it is possible to amass hundreds, even thousands of pounds of cash back over a year. A good incentive to use them indeed!



Not only do they have the Quidco app which allows you to get great deals on your mobile but they also have Click Snap - which allows you to take up deals on grocery shopping, either direct on line or at the store, where you have to upload your receipt afterwards to take advantage of the saving.

To benefit from Quidco you obviously have to adjust your shopping to buy what's on offer - so is that really an economy? Then there's potential savings at Costco Wholesalers where we took out a membership back in May. I know I should be comparing the cost per item against the supermarket item cost to see if I'm really making a saving. At the moment, I'm assuming I am on the basis that we're buying in bulk.

Factor in voucher sites like Voucher Cloud, other cash back sites like Topcashback and Tesco Clubcard loyalty points and I'm completely muddled.

I'm guessing that, if I want to save on our grocery shopping this year, I am going to have to sit down and create a practical, sustainable budget.

One of my hobbies is entering competitions and I have had quite a bit of luck. I only enter for prizes that we really need as a family. You won't find me entering competitions for prams now the children don't need one and then selling it on Ebay. I am aware some compers do this but it feels dishonest to me and unfair on someone who might really need that particular prize.

The things I win, such as vouchers, food and clothes, are our family treats and I see it as my way of contributing to the family finances whilst I am a stay at home mum. There is, of course, no guarantee of a win but it adds a fun element to our finances.

If you fancy giving comping a go, a good place to start is www.theprizefinder.com which is completely free and provides a comprehensive list of all kinds of competition which you can sort through according to the date they close, the date they were added to the site or the type of prize you are looking for.

But, in terms of maximising our monthly income, there's nothing else for it. I'm going to have to create that budget. Here's one from Mr Money Saving Expert himself - Martin Lewis that I might try.

Has anyone else undertaken a complete overhaul of family finances and how did you do it? I'd love to know.

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It's Budget Time - Pass Me My Small Suitcase

At this time of year everyone feels the pinch, don't they? I'm watching Martin Lewis on ITV and thinking that I should implement his system of multiple bank accounts in which to channel amounts for holidays, Christmas and big purchases.

I've tried to do a budget before. In the old days I used to limit myself to about £40 a week in cash. These were the days when if a full supermarket shop approached £100 it was a BIG shop. Now it's difficult to leave our corner shop without having spent £15 on bread, milk, cake and a bit of fruit.

Make no mistake. I am well aware I am lucky to have funds to spend on items I could, and arguably should, be making myself. Hands up. No excuses.

But when did everything become so expensive? Is it because of the rocketing cost of fuel, affecting transportation costs - which then of course get passed on to us, the consumer? Is it because we eat so much out of season, again involving fruit travelling half way across the world to keep us happy? It's no wonder Gordon Ramsay's mantra is "eat fresh, eat local".

It's great that we see loads of artisan bakers and other types of food producer springing up all over the UK. Organic produce is now widely available (though don't think, by the way that this means it is entirely pesticide free!). Marco Pierre White exhorts us to ask about the provenance of our meat as though it is a regular occurrence to debate the origin of our beef rather than see how many fish fingers we have lurking at the bottom of the freezer.

We are obsessed with TV cooks and cookery shows. I have a bookshelf groaning with cookery books which promise exotic meals, budget meals, healthy meals, vegetarian meals - all knocked up in 20 minutes with the minimum of effort but, and here's where the plan goes a bit wrong, most of these mean you have to go to the supermarket and make quite a hefty investment in spices, vinegars and oils. Think about most diet plans - a basket of low fat food is, in my experience at least, definitely more expensive than the fuller fat and (debatably) less healthy version.

Our hunger for buying is insatiable. Shopping malls are truly the new churches, except that they tend to lead us further into the path of temptation. I sometimes think that the best way to save money is to lock yourself in the house!

So, I will be examining the family finances with a fine tooth-comb and consulting some of my fellow bloggers for their advice. Cash back sites, saving money on energy bills, becoming a Queen of coupons - all some of my goals for Spring.

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Even Bigger Tax Breaks For Married Couples If Tories Win Election Says Cameron

Chancellor George Osborne will announce in his Autumn Statement this Thursday (5th December) a proposal to give married couples a tax cut worth as much as £150 a year. And David Cameron has hinted that, if the Tories win the next election, there may be even bigger tax breaks in the pipeline for those who have gone down the aisle.



The Lib Dems are against the move which will cost as much as £700 million on the grounds that it penalises single parents, widows and cohabiting couples.

David Cameron said: "We will be making this change to back marriage in the tax system. It's a change I strongly support. It's very similar to what we set out in our manifesto. It's something I have long wanted to do so I am pleased we will be achieving it. I believe in marriage. I believe marriage should be recognised in the tax system. I see this as yes, a start of something I would like to extend further".

Under the new proposals, one member of a married couple or civil partnership will be allowed to transfer £750 of their tax-free personal allowance to their partner. This would be worth about £150 per year to basic rate taxpayers.

This proposal fails, needless to say, to curry any favour with "Don't Judge My Family", the campaign against the marriage tax allowance who do not believe that the Government should be spending public money promoting what they see as their "ideal fantasy 1950s family' and have produced a report detailing what they see as more practical options for the £700m this proposal will cost the Government.

They suggest ideas such as increased access to relationship counselling, cancelling proposed cuts to benefits for widowed parents or scrapping the Bedroom Tax which, they say, is causing stress and misery for hundreds of thousands of individuals and families but is predicted to save only £470m a year.

Whatever your personal views about marriage, in my view anything which helps to shore up the family unit should be seriously considered - but in a way that does not penalise those who do not see marriage as relevant to them.

Perhaps instead of relationship counselling, the Government should consider parenting classes because, irrespective of how we choose to declare our commitment to our partners, it is surely good parenting which helps a family unit to bond, whether or not the marriage bonds have been broken or indeed existed in the first place.

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Spending On Kids' Christmas Presents: How Much Is Enough?

An article in The Daily Mail (26/11/2013) entitled "OUCH! Average child's Christmas list adds up to nearly £900 - and a third believe they'll get every single thing on it" left me feeling distinctly unsettled. 

It seems, according to this article at least, that the average child receives a hefty, and in many parts of the UK surely unbelievable, £207 worth of presents. 

Are we really raising a generation of materialistic, greedy youngsters who, as my parents would say, know the cost of everything but the value of nothing? 

What has happened to parenting when the purse strings are seemingly controlled by the offspring?

What is really going on here?  Christmas advertising seems to start earlier and earlier with John Lewis, Debenhams and Marks & Spencer all taking each other on for the "Christmas ad of the year". The supermarkets all compete to give us tables groaning with high calorie treats and drinks, with each promoting a cutesy backstory (handsome Mr Iceland takes giggly ingenue to a party for example). 

There is literally no escape from Christmas merchandising and marketing. Even if you turn the TV off, shops are groaning with Christmas themed confectionery and gifts.

In a Twitter Party conversation last night with Tots100.co.uk (@tots100) which runs a well respected index of UK parenting blogs and comparison website Go Compare (@gocompare), several parents said they felt that £50 to £100 was quite sufficient to spend on a child, with some saying that £270 constituted their entire Christmas budget.

It must be soul destroying if you are struggling financially to have the added burden of child-induced guilt as they request the latest computer gizmo or branded toy. You can see why people are so tempted by pay day loans with their catchy advertising. Both my children recognise the Wonga old people and think they're 'funny'. I don't find APRs of 5853% particularly amusing. 

The Government has said it will introduce a new law as part of the Banking Reform Bill to cap the cost of these loans. This level will be decided by a new industry regulatory, the Financial Conduct Authority (FCA). As yet, we have no idea what this cap will be or whether it will be effective in helping those who quickly find themselves in over their heads when they cannot pay off these loans as quickly as they had anticipated.

It's funny really because the old fashioned skill of 'housewifery', apart from having had a mild renaissance and a new cupcake and retro apron image, has always been slightly looked down upon. But the related skill of maintaining the household budget (and sticking to it) must surely be worth its weight in gold.

It became clear from last night's Twitter chat that some parents had their budgets by the horns and were actively seeking out the best rates for savings and credit and benefiting by canny use of cash-back and comparison websites. I came away with the realisation that managing your money, particularly at Christmas, HAS to be an active and not a passive activity. No wonder Martin Lewis shouts. It's so easy to put your head in the sand.

When I was a child, my sister and I would always receive one 'main' present and a couple of smaller ones from our parents which would be supplemented by gifts from grandparents, uncles and aunts. But what I remember more than anything else was the stocking my dad would meticulously prepare for us both every year. 

It was always one of his old walking socks and there was always an apple, a satsuma, one or two walnuts or hazelnuts and a small novelty gift (one year it was a cap gun which we both loved) but, the ultimate in decadence was the small tube of liqueur chocolates he always included. I can still taste the shock of a mouthful of sherry followed by the sweet, gritty chocolate.  I hasten to add that we were of a respectable age for such adult treats.

As for the 'main presents', do you know that, apart from an Action Girl doll one year and a Sindy doll another, I honestly can't remember a single one. 

Makes you think, doesn't it?

How much do you think is acceptable to spend on your children? I'd love to know.

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