So November flew past – with a combination of holiday and unforeseen circumstances has played a little havoc on what I was expecting to be spending, but that is what life does – throws in some challenges!
Income
So the same pay cheque landed again which was marvelous, and my other half’s ISA continues to power ahead, really it has helped me this year cover a lot of the unexpected costs that have come up. I’ve been doing this now for about 4 or 5 years, and it really is only now that I can really see the benefit, but its bliss!
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. | 30% |
| Groceries | All the food and other stuff needed for home | 3% |
| Alcohol for home | Home alcohol consumption only | 2% |
| Bicycles / Car related | Any costs related to either the bikes or the car | 5% |
| Alcohol Out | Generally, its the pub…. | 0% |
| 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…. | 2% |
| Holidays | Any spending related to holidays, flights etc. | 10% |
| 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) | 46% |
* 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. This has reduced as our mortgage has been redone, and the difference being used to overpay the mortgage, but is still counted by me as savings
So the obvious challenges this month:
Holiday. So a short holiday away was much needed although not the most relaxing was a nice break away.
Car related. It was MOT time this month, and the car needed a few bits doing to it (it is over 10 years old!) which was a bit of a pain, but I knew it was coming up and some of it was planned for.
Lastly, pretty much everything else was on average – helping to the overall savings rate which continues to tick up. Sadly the only way I was able to keep the GTP ISA levels going in was due to not filling any of the emergency funds up. This does worry me because I am not really getting any cash into reserve which is not good.
Having said that, the fact that my other half’s ISA and the GTP ISA are starting to give out some sensible amounts of cash, it should help to smooth some of this.
How was your November?
FIREin' London 
Another solid savings rate, FiL but I hear you on the emergency funds – great to have them to hand but a pain having to top them up, yet they need to be topped up! Just yesterday I had to dip in the fund (issue with my car’s brakes) but while I’m accumulating, I feel like I should be investing, not just adding to the cash reserves.
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The difficulty I find is how much. Ive got about 8k atm but need to change my car in December next year. Aiming to spend 15k or so on a two or three year old decent car(i know i know but it’s partly an image thing and partly comfort as I drive alot and have to see clients. Better than renting one for 600 a month as i do now. I’m choosing to build up slowly over the next 12 months. I’m still debating whether to just invest it and just borrow the money. At 2.7% with no early repayment I’m really torn which way to go. Now I have a decent net worth and the sum borrowed is small it does seem a bit daft to pay the chunk of money out and not invest it
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