Sunday, 28 September 2014

Sunday budget update week 3

 I know its probably not that interesting for people reading, but I'm finding it very helpful to do a week by week budget. Normally I work in months, but weekly accounting is definitely the way forward for me.  This current budget is only until 1st December as I save for Christmas. 

Not too bad this week but it has been a bit tight - I'm starting to wonder whether my budget is unrealistic.  But will keep going....

Week 3

Groceries            £64.65/£65
Under budget.  But only just.  Have struggled a bit, I think its the little top up shops that have really added up quickly.  I'm wondering whether this budget needs to be a little higher.

Petrol                  £15/£15
In budget just.  Red light has come on so I will need to put more petrol in today.  

Misc stuff            £19/ £20
Birthday presents for my brother + socks for both children

Christmas   £15
Total Christmas fund  £40

Plan of action for next week:
1) Do more baking.  Cakes/bread
2) Use up some of the meals in the freezer
3) Try to limit the amount of extra shops by getting most of what I need in one go
4) Do one walk to Aldi (leave car at home)
5) 3 no spending days.  
6) Buy nothing but groceries and petrol


Had a bit of an unexpected windfall yesterday thanks to a very generous relative - once the cheque has cleared I will transfer it over to the mortgage account.  Whilst my siblings were planning holidays and new stuff, I was calculating how much interest it will save me if I overpay on my mortgage (it's quite an eye opener) MSE mortgage calculator.  It's not that I am right and they are wrong, we all have our choices and different priorities.  My priority at the moment is paying my mortgage off early so I can help my daughter with her education, and hopefully DH can retire early.  I had a very interesting conversation last night which made me realise how late some people leave it to plan for their future.  I am always thinking ahead and couldn't sleep at night not having some idea of how we will support ourselves in old age.  Our plan may not be perfect and it may change with our circumstances, but at least it's a plan of some sort.  

..anyway, have a lovely Sunday whatever you are doing. 



  


8 comments:

  1. Replies
    1. I'm a big list and plans person. But they always seem to change!

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  2. Hi, I just found your blog and it's great, I have subscribed to follow you. I find other people's lists and plans very helpful so thank you for sharing.

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    Replies
    1. Thank you. I have been reading yours too.

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  3. Hi, I'm a recent follower too. I think we are both on a similar track and I personally find it very interesting seeing how others are getting on with their budget...it motivates me to stick to mine when I know there's others out there in the same boat :-)

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    1. Hi Lou pleased to meet you. I like to see other people's budgets too, I always wonder if I am spending too much. My budget is just until 1st December, so I can save for Christmas, then I will do a new budget.

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  4. Quick note to reassure you your weekly updates are interesting. There is a variety of ways to spend and save, and as you point out, no one is right or wrong in their way, but we can learn from each other. I'm catching up reading your blog posts and having a tutoring session-thanks.

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  5. That’s true. In this day and age, it’s really better to have a plan for the future. It may seem big and challenging, but it is very helpful, particularly when it comes to one's finances. Planning ahead will give you enough time to pay all of your debt, and maybe save a little on the side, at the same time. And with regard to your mortgage, it will surely be helpful to find ways to lower your interest rate. It is advisable to ask an expert’s advice on this, to make sure that you’re doing it right.

    Chad Nelson @ Iron Point Mortgage

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