Budgeting

We have created a New Year's Resolution for 2011 to pay off our credit card debts.

A quick look over our income and outgoings tells me that we will have to make a few drastic changes in order to achieve this goal.  At the moment this is roughly what we look like:

Income: 

• One full-time salary
• Plus overtime shifts on occasion
• One part-time salary, reduced a bit by long term illness
• Expecting some money back from a Payment Protection Insurance Claim

Outgoings:

• Food
• Petrol
• Utilities
• Council Tax
• Entertainment
• Child Maintenance
• Childcare
• (We housesit, so do not have rent or mortgage)

Upcoming expenses:

• MOT both cars next month
• Tax Disc for one car next month
• Haircut---would like one since it has been two years and I have split ends
• Tax disc for one car in June
• Items for new baby May onwards

Debts:

• Two Credit cards
• One overdraft
• Two outstanding loans