After Mr. Boo was made redundant last year we really needed to get a firm grip on our finances. With only my part-time wage coming in until JSA and any redundancy was paid it was tight, very tight if I’m honest.
One of the first things we needed to do was to work out what was essential and what was not. Then from this list, we made notes about we could do to reduce our costs
- Mortgage – Contact for a payment holiday
- Council Tax – Sadly nothing we can do about this cost
- Gas & Electricity – Compare prices and consider switching
- Water – Fixed price no movement
- TV Licence – Life with no TV… erm no
- Food – Switch to cheaper brands, meal planning
- TV package – Remove premium channels
- Broadband – Compare prices and consider switching
- Petrol – Walk more, consider online food shopping
- Magazines, sweet treats, takeaway – Stop until we are in a position to treat ourselves
Thankfully we got through it and Mr. Boo found a new job, but I still don’t feel protected for the future. How are we supposed to know the answers to our financial questions? I have two that I keep pondering and have no idea which is the right answer.
Life insurance, should we buy cover for the length of our mortgage or into old age?
Children’s savings, am I better to open high street savings accounts for Roo and Tigger or opt for a child’s trust fund?
Thankfully as part of the markettiers4dc Parenting Broadcast Blogger Network, the members were offered the opportunity to put forward their financial questions to be answered by independent Financial Adviser, Peter Chadborn and Roger Edwards, from protection insurance company Bright Grey.
I am part of the markettiers4dc Parenting Broadcast Blogger Network.
I have received no financial compensation for this post.