April Income and Expenses

So its that time of the month again when my salary hits and it’s time to review what I have spent my hard earned cash on, and where I could have done better.

Income

So as always I had my steady Salary drop into my bank account, always nice.  I don’t include any of my personal ISA dividends in my income statement, that is just part of the growth of those portfolios. The income thrown off by my other half is included, however this is an incredibly small amount at present (less than 1% of income) so it is more of a statistical error! On the plus side I have finished paying off some tax so I got a bit of a pay rise after – although this wont show until next month’s savings rate as I will spend it next month!

So, steady as she goes on income – very slowly creeping up.

Expenses

Item Notes Amount
Things I choose not to avoid* Mortgage, Insurance, shared bills etc. – yes, we could move somewhere cheaper, not have insurance, reduce our bills a bit and so on, but we are where we are.  43%
Groceries All the food and other stuff needed for home  5%
Alcohol for home Home alcohol consumption only 0%
Bicycles / Car related Any costs related to either the bikes or the car  1%
Alcohol Out Generally, its the pub….  9%
Eating Out I include purchased lunches in this as well as meals out etc.  2%
Other My catch all for anything I may have missed….  3%
Holidays Any spending related to holidays, flights etc.  0%
Savings Anything left over! This includes money into ISAs, mortgage payments and non relief pension contributions. My company pension comes out before it hits my bank account so isn’t included, nor do I include the “top up” of money when my money goes into my personal pension (i.e. I put in £100, I register it as £100, not the £125 that gets credited in my pension)  38%

* This covers a number of things that I would class as essential for me. Yes, I could move to somewhere cheaper to reduce the mortgage (which in turn would reduce the insurance I have to pay), yes I could reduce my bills by switching energy supplier etc. but it comes down to what I am happy with. There are a few other things in there that are classified as essential that others may object, and so I have just lumped it into there.

Ok whoops. So Alcohol out this month was a little on the erm… high side? A few big sessions really did hit the wallet this month, but I don’t in the slightest bit regret it! The fact that alcohol at home is still 0% I am quite happy with.

A lower transport costs helped offset the large grocery bill this month – but this has filled the freezer up so that should give a fair amount of meals for sometime!

So, how did I do on my Savings Rate goal? Just shy of my stretch target, but 38% savings rate, I am happy!

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Author: fireinlondon

Fighting the high cost of living in London

6 thoughts on “April Income and Expenses”

  1. Well done on the 38% savings rate, achieved whilst still having a great social life – nice one! 🙂 That snowball continues to grow! Also, great news on the 0% for Alcohol for home – I have to confess that I’ve failed in my quest to not buy any alcohol for home consumption – I found myself wandering down the ‘wrong’ aisle in the supermarket and ended up picking up a few bottles of Brewdog! I hope it’s a while before I succumb again (and sadly, I know I will, now that I’ve ‘crossed the line’!). Hope you’re enjoying the bank holiday and didn’t have to work!

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    1. Hi Weenie,

      Thanks – yes I was very pleased with that, and a couple of fairly big days / nights out so continuing to cook at home has helped and I had more than a week of working from home which really helped keep a lid on things!

      Ah, a shame that you broke the no alcohol purchase – it’s a slippery slope now!

      Sadly I did have to do some work yesterday and I still need to do some today, not ideal but it is why I am in the position I am in now, and able to save as heavily as I can!
      Cheers,
      FiL

      Liked by 1 person

      1. I know, I was very annoyed with myself when I got home and unpacked the bottles from the shopping bag! I’m going to try to resist again for as long as I can!

        Hope you still managed to get some relaxation in over the weekend!

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        1. Hi Weenie,
          Sometimes needs must sadly – don’t be annoyed but recognise it and keep an eye on it – nothing at all on alcohol is a real ambitious target! Keep resisting!
          Plenty of relaxation (and alcohol) over the weekend, hope yours wasnt too bad!
          Cheers,

          Liked by 1 person

    1. Hi MSM,
      Thanks – I was surprised and very happy with it to be honest. If I can keep that up all year I will be truly delighted! Always good to know it has happened to others first so you know it is only a matter of time before it happens to you as you are further down the line on the savings time!
      Cheers

      Liked by 1 person

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