Give Yourself A Payrise

The only safe, “Free” way out of debt is to concentrate on both generating extra income and slashing costs - together, at the same time.

I don’t only talk the talk, I walk the walk as well. Here’s a list of what I’ve done to cut costs, the amount I save, and the amount I’d have to earn to cover each saving.

Earn Extra income + Cut All Costs = Debt Free + Financial Management & Expertise.

Newspapers

Weekly Cost £7.00 Yearly Cost £364.00 Wages Needed Before Tax £447.72

Action Taken
Cancelled Newspapers 5 days a week

Weekly Cost £2.00 Yearly Cost £104.00 Wages Needed Before Tax £127.92

Total Savings/My Payrise£127.92

Concurrent Total £127.92

SKY Television Subscription

Weekly Cost £9.23 Yearly Cost £480.00 Wages Needed Before Tax £590.40

Action Taken
Cancelled Subscription Outright
Total Savings/My Payrise £590.40

Concurrent Total £934.12

Telephone & Internet Subscription
Not been reconnected for the first three months of the year. normal quarterly bill is £240

Wages Needed Before Tax £295.20

Total Savings/My Payrise £295.20

Concurrent Total £1229.32


Electricity Bill Standing Charge

Weekly Cost £10.00 Yearly Cost £520.00 Wages Needed Before Tax £639.60

Action Taken
Renegoiated Arrears reclamation part of standing charge to £5.00 weekly

Weekly Cost £5.00 Yearly Cost £260.00 Wages Needed Before Tax £319.80

Total Savings/My Payrise£319.80

Concurrent Total £1253.92


(from the main blog Sunday 3rd May)
I’ve just given myself another payrise as well. I spend around £40 weekly on petrol. I’ve just brought a diesel Astra van because (a) it’s diesel and does many miles to the gallon, and (b) I need a van for the markets and car boots as I can’t get everything in the BMW.

So, with the BMW, I spend £40 weekly on fuel, which equates to £2558.40 earnings before deductions. Amazing isn’t it, the power of figures - I have to earn £2558 a year, just to get to work!

I’m hoping that, with the diesel van, I’ll only be spending around £20 weekly on fuel. This equates to only £1279.20 a year, as oppose to the petrol car costing £2558.40 a year.

The difference between the two equates to £1279.20 a year. Which is a nice payrise for me. And, buying the diesel van has more than doubled my savings total (My Payrises) this year. Amazing!

Concurrent Total £2533.12

Dog Returned To Middle Daughter

Weekly Cost £7.00 Cost to end of this year (2009) £240.00
Wages Needed Before Tax £295.20

Total Savings/My Payrise £295.20

Concurrent Total £2,828.32