So November shot past, and I am sure this will not be the most accurate report (in fact I know there were some more expenses that I have not included here, but they will hit December when my Visa bill arrives…), but as always it is important to keep an eye on where the money comes and goes as much as possible!
So another good income month, higher than usual as my tax code remained the same (I am dreading April next year when my tax code will change again!). Very handy drop into my account.
My other half’s ISA paid out again this month, even though this is a “slow” month for it (due to the nature of the portfolio, once a quarter there is a much smaller payment, but this is part of the diversification) it was still enough to make a small difference. I continue to use it to build some cash reserves (aka pay off the building work) and pay a little more down on the mortgage – it is all helping that end goal get a little closer.
Right… let’s take a look underneath here! There will no doubt be things missing after what happened in November, but I expect this to come out of the wash in December with my credit card statement…. highlighting the risk that credit cards can cause if you are not careful…
|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.||37%|
|Groceries||All the food and other stuff needed for home||3%|
|Alcohol for home||Home alcohol consumption only||5%|
|Bicycles / Car related||Any costs related to either the bikes or the car||0%|
|Alcohol Out||Generally, its the pub….||2%|
|Eating Out||I include purchased lunches in this as well as meals out etc.||4%|
|Other||My catch all for anything I may have missed….||4%|
|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)||45%|
So, a somewhat unusual month all round. My “do nothing about” was much lower, this is a reflection of the increased income from my tax code change, but also that other areas were lower as I wasn’t in the physical office that much in November, so really drove down the cost. Not enough to make me think about cycling or similar, but there you go!
Food and drink this month was expensive – no real surprise there to be honest. I drank more than I should really, ate out a few times and bought expensive pre-made meals rather than anything else so all told not at all cheap, but under the circumstances, I think allowed!
The Other catch all bucket also took a bit of hit with some taxis, parking fees and other random bits (I include my poppy donation in there as well rather than charity) but again, with the circumstances, not a surprise.
I am however staggered at my savings rate. I am really happy with a 45% although I know this is a false economy as I will take a few percentage point hits in December for things I missed. Regardless of this it means that money is still flowing into my pensions and ISAs helping to steadily build up that pot!
How was your November?