Time continues to fly by and it seems I am late again on these, but never mind – here they are now, better late than never!
I have to be honest, I think I missed some expenses this month, but so be it – given I tend to err on the side of caution anyway (for example all fuel costs I count, although I can claim some back for work travel), so I am not too worried on that.
At last. A normal, full pay cheque hit the bank account. That was such a relief – although still not as high as I would ideally like, it is at least back to closer to normal (think a near 10% post tax rise!)
My “standard” cash reserves are completely depleted which does leave me worried, but this was the month to see those fortunes change and start filling up the reserves again.
Well, that was the plan wasn’t it…..?
|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.||33%|
|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||1%|
|Alcohol Out||Generally, its the pub….||4%|
|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….||5%|
|Holidays||Any spending related to holidays, flights etc.||1%|
|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)||44%|
* 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.
So what to make of it all? The day to day stuff has come down nicely – a reflection of getting my normal salary back – so nice to have a little flexibility in the budget.
The downside, the increase in alcohol and food both at home and out went up. There were a lot of factors, going out with friends I hadn’t seen in ages, a couple of work events that I can’t claim for, some clothes, some stuff for home and so forth. It all adds up over time sadly, but hopefully that will have got it out of my system!
The savings rate going back up to 44% is a major plus – and I am hoping to get back above 50% now that I am on a more normal income, but let’s see!