Lina's Life Improvement Diary

Domayne

That's alright, even if you do one every month and it only helps you for that month, it's all good, it's better than not knowing where your money is going Though I always finds something pops up that I haven't budgeted for and £70 a week doesn't go too far...especially since I've lumped my phone, netflix and my pups insurance into my personal spends, each month I have less and less for myself xD

Lina_T

Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget Summary Amount(£)
Total monthly income 1,042
Monthly expenses (incl. HP & secured loans) 812.91
Available for debt repayments 229.09
UNsecured debt repayments 0
Amount left after debt repayments 229.09
Personal Balance Sheet Summary Amount(£)
Total Assets (things you own) 11,500
Total Secured & HP Debt -2,250
Total Unsecured Debt -100
Net Assets 9,150
Income, Expense, Debt & Asset Details

Income Amount(£)
Monthly income after tax 1042
Partners monthly income 0
Benefits 0
Other income 0
Total monthly income 1042
Expenses Amount(£)
Mortgage 0
Secured/HP loan payments 275
Rent 125
Management charge (leasehold property) 0
Council tax 0
Electricity 0
Gas 0
Oil 0
Water Rates 0
Telephone (land line) 0
Mobile phone 26
TV Licence 0
Satellite/Cable TV 0
Internet services 0
Groceries etc. 0
Clothing 50
Petrol/diesel 70
Road tax 1.67
Car Insurance 30.61
Car maintenance (including MOT) 25
Car Parking 0
Other travel 10
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 13.63
Pet Insurance/Vet bills 0
Buildings Insurance 0
Contents Insurance 0
Life Assurance 0
Other Insurance 30
Presents (birthday, christmas etc.) 30
Haircuts 6
Entertainment 120
Holiday 0
Emergency Fund 0
Total monthly expenses 812.91
Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
Mortgage 0 (0) 0
Hire Purchase (HP) Debt 2250 (275) 0
Secured & HP Debt totals 2250 - -
Unsecured Debt Description Debt(£) Monthly(£) APR(%)
Overdraft 100 0 0
Unsecured Debt totals 100 0 -
Asset Description Value (£)
Cash 8000
House Value (Gross) 0
Shares and bonds 0
Car(s) 3500
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 11500





The car loan is my half of my partner's car loan, and the loan payment my contribution towards it. We've decided to pay this off together as it's the only way we can get a mortgage this year.

We have 8000 tied up in a Buy to Save account with Nationwide as our house deposit. We can't access this until we apply for said mortgage.

£125 is contribution towards my parent's bills and food as I'm living at home. They've been very helpful in making this as cheap as they can possibly afford while we save to move out.

The mobile phone I am tied into a contract until October when I'll change it for a much cheaper one.

My car is very cheap to run and worth about £3500. I tend to park free and walk in to places.

Clothes and entertainment I could probably cut down on if I tried.

Trying to get my birthdays/christmas presents etc. to be money neutral or at least as cheap as possible. However I'm being a bridesmaid in June so I'm going to have to start putting money away for hen party etc.

Other insurance is my pension contribution of £30 a month, wasn't sure where else to put this.

I don't know where that spare £229 goes each month, I always end up with nothing! I must either fritter it away on lunches and silly things or spend more on going out/clothes than I thought. Probably a bit of both.

If anyone has any suggestions they are very very welcome :money:

Lina_T

I've decided that each month I go without buying new clothes, I'll allow myself to buy one nice thing to put away towards my new house. I've made a list of things I still need/want:

1. 2 Wicker Trunks £40 Matalan
2. Newgate Mantle Clock
3. Bath Towels
4. Kitchen Scales
5. Food Processor
6. Morphy Richards 8 Piece Pan Set
7. Iron Wine & Glass Holder
8. Kitchen Bin

My life is so exciting :rotfl:

Lina_T

Today is off to a bad start already, in trouble off the boss for something that is totally not my fault. Reckons I didn't tell him something when I very clearly remember doing so. Pompous git

At least I managed to bring my lunch in to work and list a couple of bits on Ebay, and it's payday tomorrow.

*Skulks off to browse Totaljobs.com*

Lina_T

My order from Matalan arrived today. 4 of the 6 items were no good so are going back. I didn't realise with Matalan you have to pay return postage so I'm waiting until the 25th when I'm planning to go to a store anyway.

I've seen some large wicker trunks I want from there, £50 but I have £10 off voucher starting on 23rd, I'll combine the two trips to save petrol.

That will have to be my last clothes spend for a while, I'm abstaining from payday tomorrow until next payday. I might go longer than that if I can, but a month sounds like a big enough challenge for the time being!

Lina_T

PAYDAY FINALLY! And officially Day 1 of my life improvement challenge!

Diet is going well so far, had a toasted teacake with olive spread for breakfast, 2 kiwis as a snack and a banana butty on wholemeal bread for lunch approx 600-700 calories altogether. Just my dinner to have now.

I tried the Boots 70% sale online this morning but no luck, items selling out as soon as I put them in my basket and website crashing so I ran out of patience and did a detour to the store on the way to work. Picked up 3 bits for presents but there wasn't much left.

Going to pop in to the tiny local Boots pharmacy near my house on the way home to see if they have anything good.

Domayne

Hi Lina! Yay for payday - Always the best day of the month
Have you been keeping a spending diary? Or thought of keeping one? They can be quite enlightening as I found out where my few £100's went when I never knew...Mostly on a magazine here, coffee there and cans of drinks in between...really frittered away
How to keep it in check is a different matter though...I still haven't figured that part out 100%
What I do though is when I get paid (I get paid fortnightly) I put £140 into a separate account which is my spending money for the fortnight...this is to be used for everything that's not 'essential' like going out, clothes (which I hardly ever buy ) things I fancy, food, and if I fritter it away...well then that's my own problem but I don't have anything until the next payday Although I have an emergency £20 in my current account if I'm really stuck and I 'borrow' from myself...which means that when I next get paid, I only get £120
Might not work for everybody but this has been working for me for the last few months so figure out what you would need for everything for the entire month and transfer it, when your money is gone...wait for the next payday

Domayne

Also, well done on the diet!
I failed in mine last week, but I want to start again! I'm thinking of trying the paleo diet as it seems really healthy and something I could do...though I have to cut out sugar, and all those bad white carbs
Luckily I really like healthy fruits and veggies...I just really love chocolate, crisps and bread too

Lina_T

Hi Domayne yes I've started a nice clean spending diary today - an old unused cash book I found in a drawer so no pennies spent either.

I like the idea of withdrawing an amount for spends at the start of each month, I need to go away and work out what I have left after bills & savings and split it into the 4 weeks, but I'm definitely going to try that so thanks for the idea! I might even put each week into a separate envelope.

Bread is my greatest downfall too

Lina_T

I'm about £30 down in my money-neutral Christmas goal, raided the Boots sale, Dotcomgift shop and a few other sale bits but got quite a few Christmas, birthday, Mothers Day and Easter pressies for that amount. I've tried to avoid buying tat just for the sake of it being cheap and everything I bought looks like quality stuff I paid a lot more for so I'm happy with that!

Been offered overtime at work this month so I'm hoping that will cover it. Also got a couple of items ending on Ebay soon:money:

Brought my breakfast lunch and dinner to work today in case I feel like doing a couple of hours overtime later