January Spending – approximately!

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Income

So in January I carried £32.97 over from last month, my wages were £2665.62 and then I received £105.55 for mileage costs. That was then a total of £2804.14 to spend for the month.

Expenditure

£1550.00 was transferred to the joint account and spent as
follows:
Mortgage £558.63
Mortgage overpayment £501.00
Council Tax £244.00
Water £49.00
Gas and electricity £90.98
TV licence £12.83
Broadband and line rental £26.95
Charity donation £6.00
Total £1489.39

£300 then went into my second current account which pays for annual expenses or regular payments. This month all that I had to pay for was a deposit for a holiday we have booked in the Yorkshire Dales in June of £94.75, £3.00 for eyebrow waxing and £64 for physio – £32 under budget, so I can spend this on something else! The rest stays in there and accrues until I need it e.g. for car insurance. The idea is that I don’t all of a sudden have to find the money for an expensive car service. It is already there in the account and then if I don’t need it all I can spend it on a treat.

That left £954.14. In the spirit of Robert Kiyosaki I pay myself first and have direct debits into two savings accounts totalling £435.00, so I was down to £519.14 to live on for the month. Now, this month I have started using my Tesco credit card to pay for almost everything and for this reason my usual spreadsheet has gone a bit awry and I can’t completely work out where the money has gone.

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For someone who thinks that they are good at this budgeting lark it is very frustrating. Now I do the weekly shop and pay for it, then at the end of the month I total up how much my partner owes me – this is particularly important as he eats meat and some of the items I buy for him are expensive so I don’t just split it down the middle. Before I started writing all this out on a blog I just spent the money, got some back from him at the end of the month and never went overdrawn. This month I have tried to work out exactly what I have spent on food, which includes some cash items and to be honest it just hasn’t worked. I have spent a couple of hours trying to work out where every penny has gone and I can’t do it. I did want to give you this detailed and what I am sure would have been fascinating, breakdown, but unless I want to spent several days of my life on it, it isn’t going to happen. So here are the approximate figures, which is the best I can do. I will do better in February – I promise.

Here we go then:

Food £149.01
Petrol £131.76
Toiletries £16.45
Subscription £23.26
Mobile phone £9.50
Pilates classes £24.00
Miscellaneous £104.59 – includes two meals out

Even though I can’t tell you where each penny went, (as there should be £60.57 remaining and yet that’s not the balance left in my account) the main positives are that we overpaid the mortgage by £501.00 and I put £435.00 into savings. On the not so good side, my lovely new Vanguard ISA is down, affecting my overall savings pot, but that’s the same for everyone. I had two days where I spent money unexpectedly, but otherwise it was pretty much in line with what I had anticipated. For me, this has been such a good lesson. When you set out to explain something to others you realise how little you know. Next month, I will be counting every penny, meticulously!

I hope your January was a successful one too!

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