Below £1000 pcm outgoings challenge

EssexHebridean

Well done! I take it you are still budgeting for the things paid upfront monthly (plus an amount for inflation on top), just putting the budgeted amount into a "pot" somewhere to pay next year's amount when due? 

MasterG83

2022 is the year of "sinking funds" but for now I do a zero based budget on every payday, as I'm commission only my salary varies extensively, so I sit down, deduct my DD then, for example this month, £700 into emergency fund £200 xmas presents and £500 into a Monzo pot for spends. Next year I will extend those pots to pay for the insurance. 

MasterG83

Quick update and close of this thread, I am now debt free, sold my house and moved in with my partner, the funds are in my savings for now until I have decided what to do with them 

Krakkkers

Got rid of my TV licence over 5 years ago, watch Youtube, so much on there now.

Krakkkers

Santander give cashback on certain direct debits, i get 1% off my council tax, 2% off my energy bills and 3% off my water bills.

Krakkkers

How is your duel fuel bill only £28/month as that is basically the standing charge? do you use no gas or electricity?

Floss

Krakkkers said:

How is your duel fuel bill only £28/month as that is basically the standing charge? do you use no gas or electricity?

That SOA was posted 2 years ago.