Am I doing well on my budget or not?

EltonJohnFan

Good evening,

I've been sticking to my budget now for the past few months and I'd just like to know what other people think actually because I'm not sure if I'm doing well on my budgeting or if there's more I can do to cut costs, have tried to REALLY bring my outgoings down to almost nothing and I've got used to living like this which means I can probably save more in the future when I hopefully have a job again. The things is that even though I've cut costs I haven't deprived myself of anything and I'm still living just as comfortably as before. I've simply used common sense in budgeting but I'm still looking for more tips if you would be kind enough to share them? I've been following the Money Saving Expert for a long time now and I've picked up a good few tips here and there which have come in really handy when times were hard. I unfortunately was made redundant a few months ago and I haven't had any luck in finding a new job but I am working with the Jobcentre and a disability advisor because I'm very badly disabled and they have put me on some training courses which have built my confidence up again and I've learned some great new skills. I don't have a lot of money right now but I am still able to save because I've got to be very savvy with money. Please, if you can rate my budgeting out of ten and let me know if there's anywhere I could improve on it.

Total monthly income - £801
JSA £133.50 weekly and DLA £66.75 weekly

Gas - £30 monthly (I'm on a special tariff because I'm badly disabled)
Electricity - £15 monthly (again, I'm on a special tariff because I'm badly disabled)
TV licensing -£10 monthly
Leisure fund - £30 monthly
Food shopping - £80 monthly

Total outgoings - £165 per month

daniel598

You might be better posting this on the debt free wannabe board as you'll ge loads of good advice over there

btacay

Saving money is the heart of all your financial goals. Whether you want to get out of debt or just to make ends meet each month, you must learn how to save money.

And one of the best things that you can do to save more money is to take control of your money. To do this you need to set up different bank accounts for the different spending aspects of your life.

By following the Save More Money Template, you can implement it easily without having to do any of the thinking for yourself or worry that you've missed anything.

jonesy01

I think you are doing well!

tiff

Hi, do you not have travel expenses, insurance, birthday/christmas presents, hairdressers, rent/mortgage?