A full assessment of my monthly income

Hi everyone,

Well as you know today was payday, wooo to the hoooo!

I have decided to show the full extent of my finances by comparing my income versus my outgoings.

So here goes:

FEBRUARY 2017

INCOME

(After student loan repayments, pension contribution, taxes and national insurance)

£1206.26

OUTGOINGS

Paying back boyfriend for Dr Who Ticket £12.80

Credit Card A £20.97 

Credit Card L £20

Credit Card N £10.40

Bank Charges £15.04

Paying back overdraft £100

Credit Card T £30

Phone Contract £21.49

Broadband £26.17

Gas and Electricity £54

Train Season Ticket £292.30

Rent and Council Tax £198.42

Savings £20

Food/Grocery/Household Shopping £200

Water Bill Payment £19.15

Football Training £12

Football Training Transport Costs £15.60

Membership £3.92

Work Expenses, Gifts, Travel (Day to Day), Travel (Visiting), Home, Social, Health, Postage and Packaging and Clothing Maintenance = £100 (in total)

£1172.26

Remaining = £35

So after everything has been taken out and accounted for I am left with £35 for miscellaneous spending.

As long as I have food and shelter accounted for then I will be fine.

To be in profit after all the bills (some more fun then others) have been taken out is a great feeling.

I am happy. I don’t have room for error, I notice if as little as 1p is missing from my purse, but I have ‘surplus’ money each month. I’m prioritising my debts, things will be fine. I hope.

Financial Review of Week 3

Hi everybody, it is time again for a weekly review:

I have to quickly add some expenses that occurred last Sunday after I posted a review, and they were:

SUNDAY

SOCIAL

£3.10 Coffee and small cake with Boyfriend

£3 Chips with boyfriend and two other friends whilst watching a WWE British Wrestling tournament.

On to this week:

SOCIAL

£1.95 Coffee with Coffee buddy at work (work has a coffee buddy scheme where you get paired up randomly with another member of staff each month and you meet and get to know each other)

£44.45 Weekend with Brother

£24.50 Finally paying for the ticket to see Stewart Lee in March that my Boyfriend bought ages ago.

WORK EXPENSE

£1.10 Milk

GIFT

£1 Card for Mother’s day

TOTAL

£79.10 An expensive week that hopefully won’t be repeated all too often. Does include the Sunday expenses though.

On to the food budget expenses:

My boyfriend had this week off as annual leave from work, so he was in charge of picking up the groceries, which is probably why I had to increase the budget 🙂

FOOD

£7.19 Milk, Orange Juice, Bread, Crisps, Chocolate Bars, Pasty and Baguette.

£0.95 Bleach

£1 Broccoli

£1.50 Listerine

£2.80 Coffee

£2.63 3 packets of cous cous, pilau rice, Fajita Mix sachet and tortilla wraps.

£0.99 Profiteroles and Milk

£4.89 Cereal Bars, Potatoes, Sweet Potatoes, Cucumber and Face Scrub.

TOTAL

£21.95

Today was my 7th No Spend Day (NSD) of the month. I hope to reach double digits before February.

I transferred £10 surplus money into my savings account today, that leaves me with £13.50 until payday, which is the 27th.

I have one guaranteed expense before payday of my train fare to Football which is £3.90.

I will have to buy milk at some point this week for work, and my boyfriend and I may go to a Jazz club on Tuesday to see a friend’s dad play with his band.

It will be a squeeze but can be achieved.

 

 

2nd Week Review

Well it’s Sunday again, I have about 30 minutes spare, so here goes.

WEEK OF SPENDING

FOOD BUDGET

Milk and Breakfast Bars £2.48

Bread and 2 x pizzas £2.80

Milk and Paracetamol £1.64

DISPOSABLE INCOME

HEALTH

Dentist Check up £13.50

WORK EXPENSE

Milk for work £1.90

GIFT

Donation to collection for Colleague’s gift £2

SOCIAL

Train to Friend’s house £3.90

Coffee with Colleague £1.95

Burger at Football Day £6.95

Round of Drinks between Boyfriend and me #1 £4.08

Bus £4

Round of Drinks between Boyfriend and me #2 £5.40

Pizza £6.95

Burger and drink with Boyfriend £7.74

 

So far this year I have spent £75.07 

I have £10.94 left of the food budget, which resets on the 27th when I get paid, so it will be a tight squeeze but we have an awful lot of food left and tend to only top up with things like milk and bread. We tend to find we have a lot of days left in the budget with not much money left in the budget but usually manage to stay under.

I have received my final bill for the Credit Card I closed before Christmas. I think I can just about handle the £1 bill (I was expecting it to be about £85).

My Brother is coming to visit next weekend so I will put the money towards socialising with him.

Things are going good for me, though I did have a stress dream last night that was so vivid I really believed it was real life, until I woke up.

Right, off to do a tidy up of the house now.

Hi, my name is Flo, and I’m in debt

Hi everybody.

Well it’s a new year. In 2016 I started the year with  £5150 of debt. I was determined to cut back, reduce, and most of all stop spending money. Oh, and to pay off my debts.

I clearly did a great job because I ended  2016 with  £5996.12 of debt. Uh oh! How did that happen?

Well I should explain. I had a great summer in 2016, with lots of time off. That’s because I was unemployed!

Yes, in 2016 for four months between one contract ending and gaining a new one I was living off my Ebay sales, my money making scams and what remained of my wits. I didn’t do too badly to have only gained debts of  £900 during my summer off, but that’s  £900 I am gutted to have added to Mr Big Bad Credit Card.

So somehow I ended 2016 in more debt then I started it in.

It looked like it was back to the drawing board.

Here are my stats.

I am 27 and have a contract at my job until April 2017. I am hoping to be either reassigned immediately after this, or to get a job closer to home (I technically work in a different country to the one I live in). Working closer to home would do wonders for my disposable income and debt repayments as my season ticket to work is a little under  £300 a month.

I have five credit cards.

I recently transferred the largest balance from the card I lovingly refer to as Mr Big Bad Credit Card due to how much I hate it and how much pain it has caused me to a 0% credit card. I have 24 months to pay it off but if I was to make the same payments I had to make to the old card then it will be cleared a good while before that.

I have one credit card which has a balance of less than  £90 and I am focusing on this card until it is all paid off.

Another card also has a relatively small balance, whilst another is basically maxed out.

And finally I have one card which was a 0% balance transfer card last year and the 0% interest runs out in the next two months. I will be looking to apply for a new 0% balance transfer credit card very soon so that I can avoid paying any more interest then I have to.

I also live in my  £1000 overdraft, but am focusing on the credit card debt first.

Anyway, I did some assessment about how I spent my money last year and there were two things I noticed.

I continued to buy things (true, it was at a much lower rate) but I still bought things, including memorably a  £30 vintage Barbie alarm clock during my summer of unemployment.

and two

I hardly saw my friends or socialised outside of a house during the whole of 2016.

So I want to flip this for 2017. I want to socialise….and I don’t want to buy anything.

When I say anything, there is obviously a few exceptions to that.

I am allowed to buy Gifts for people, I am allowed to buy food and groceries for the house, I can spend money on travelling, health related costs, essential home ware, work expenses and posting things.

What I can’t buy are things like DVDS, books, stationary, accessories, ‘non essential food’ (takeaway coffee’s, work canteen lunches etc) and Clothes.

I am allowed to spend money on clothing ‘maintenance’ such as dry cleaning (when absolutely necessary), alterations and resoling shoes, but I can not buy one single items of clothing other than underwear.

And of course, I am not allowed to buy vintage Barbie alarm clocks.

I figured I would live this year by a strict budget (being finalised as we speak), by reducing, reusing and recycling (I hate waste of any description and feel bad if I throw away so much as half a mouldy lettuce) and by reconnecting with my friends.

To say I didn’t see my friends because I didn’t have any money would be too simple. There is also the harder fact to face which is over the last year I have developed somewhere between bad and extreme social anxiety meaning I can feel petrified about going somewhere on my own. Also when I get invited to things by my friends I can get into a state of panic before hand and become convinced they only invited me out of pity and would be a whole lot happier if I wasn’t there.

So I have a few things I want to work on in 2017 and they are

My debt

My social life

My health

Do you notice what isn’t up there? I don’t want to focus on ‘My Spending’ other than by eliminating the non essential spending. I don’t want to spend 2017 making sure I buy lots of DVDs, clothes and books etc.

So that’s it. In 2017 I want to stop buying things and instead see my friends. I want a life free from clutter. Either physical in terms of too much stuff in the house or mental in terms of too many bad thoughts invading my mind.

It won’t be easy. I expect I may fail, but they do say it’s better to aim big and bold then to aim small.