Getting on track

ellie.52

Hi guys

I havent posted in a while

I have been thinking and have re-done my SOA on my own spreadsheet and decided to do it based on the whole month instead of when i started on the 24th. I feel like this spreadsheet helps me to see where i have gone wrong and right.

I have highlighted items in Red that i have gone over budget and need to see if i can reduce these or increase my budget as i estimated the figures. Items in Blue are items i have not budgeted for, so i want to keep on top of these to see if i need to include them in my budget.

I have not been saving anything for my yearly expenses or gifts. Now I have an exact figure of what i need to save, i may need to transfer this to a separate account to keep track.

Steps to take:
1. I need to do a cash flow forecast to estimate what is coming in and out of my bank at the beginning of every month as we almost went into overdraft this month for the first time in almost a year :eek:
2. Focus on decreasing my groceries - meal plan & list of snacks to keep in fridge - ideas?
3. Monitor Entertainment, Clothes, Restaurants & See if need to add to budget
4. Create an emergency saving's account for unexpected expenses - Not sure how much to decide on this?
5. Plan ahead for birthdays etc.
6. Start a direct debit to a new account for £169.38 for yearly insurance, dentist, gifts etc.

Wow that was long :rotfl:

I have copied my spreadsheet below so you can have a nosey :j

INCOME JUL18 Budget Difference
Income & Bonuses £1,667.76 £1,805.35 £137.59
Partners Income £707.54 £500.00 -£207.54
Total Revenue £2,375.30 £2,305.35 -£69.95

EXPENSES
Alcohol & Tobacco £22.50 £0.00 £0.00
Entertainment £23.92 £7.99 -£15.93
Clothes £14.19 £4.17 -£10.02
Groceries £354.62 £300.00 -£54.62
Grooming & Beauty £39.00 £32.83 -£6.17
Restaurants, Coffee & Bars £35.10 £0.00 -£35.10
Pharmacy & Prescriptions £10.40 £10.40 £0.00
Council Tax £117.00 £117.00 £0.00
M personal spend £21.00 £45.47 £24.47
Charity £20.00 £21.65 £1.65
Insurance - Phone & Gadget £12.50 £12.50 £0.00
Home Improvement & Maintenance £8.98 £0.00 -£8.98
Mortgage or Rent £495.00 £495.00 £0.00
Internet - 2 months worth £53.60 £28.00 -£25.60
Mobile Phone £20.00 £20.00 £0.00
Vehicle !!!8211; Fuel £32.00 £65.00 £33.00
Vehicle !!!8211; Repairs & Maintenance £220.00 £220.00 £0.00
Parking Ticket £35.00 £0.00 -£35.00
Loan Payment £184.90 £180.24 -£4.66
Total Expenses £1,719.71

NET INCOME £655.59

UNEXPECTED EXPENSES
Council Tax Arrears £275.00
Visa £558.14
Birthday Holiday £255.55

NET INCOME AFTER UNEXPECTED EXPENSES -£433.10

Item's Being Returned £16.48
Loan to Friend £400.00

-£849.58

Emergency/Saving Funds
Buildings/Contents Insurance £0.00 £6.47
Water £0.00 £29.16
Car Insurance £0.00 £81.45
MOT £0.00 £2.92
Magazines £0.00 £7.33
Dentist £0.00 £7.20
Dentist £0.00 £9.85
Gifts £0.00 £25.00

£169.38

pidge04

Think looks like thorough budgeting and planning.

ellie.52

pidge04 wrote: »

Think looks like thorough budgeting and planning.

Thank you Pidge04 that means alot as I dont feel im doing well at all and want to see progress already!!

ellie.52

I am finally up to date with the competitions.

I have entered 1347 in the past 2-3 weeks.

Hopefully i will win something fun!

I have also been invited to join Nielson shop and scan, does anyone have any experience with this and is it worth the time and effort?