Should itsthelittlethings spend less on coffee?

itsthelittlethings

I have a holiday booked at end September for three days. It’s all that’s keeping me going. I try to have two holidays away a year at a cost of about £600-700.

itsthelittlethings

Actually probably more like £800-1000 for both.

itsthelittlethings

I think it’s important to have holidays. I’d be very sad if I couldn’t afford holidays.

itsthelittlethings

Monthly budget.

Coffee £50
Entertainment £80. (Includes exercise).
Bills £530
Miscellaneous shopping £200
Food £180
Debt £100
Savings £200
Travel £70

I really don’t know what’s going wrong.

Emmia

Yes

itsthelittlethings said:

Monthly budget.

Coffee £50
Entertainment £80. (Includes exercise).
Bills £530
Miscellaneous shopping £200
Food £180
Debt £100
Savings £200
Travel £70

I really don’t know what’s going wrong.

You should write down everything you spend for a month, that's every bill, coffee, chocolate bar, pair of shoes, train ticket, donation etc. 

Then look at your budget.

For example what does "miscellaneous shopping" include? That's more than your food bill,  and twice what you're throwing at the debt... At a basic level if you threw £200 at your debt, and £100 at your miscellaneous you'd pay the debt off much quicker.

itsthelittlethings

I forgot clothes.

Am feeling a lot better for a little week off work. Not ready to go back of course. I got some wool this morning so I’m knitting socks, very therapeutic.

itsthelittlethings

itsthelittlethings said:

Monthly budget.

Coffee £50
Entertainment £80. (Includes exercise).
Bills £530
Miscellaneous shopping £200
Clothes 100
Food £180
Debt £100
Savings £200
Travel £70

I really don’t know what’s going wrong.

This is my adapted budget.

Emmia

Yes

itsthelittlethings said:

itsthelittlethings said:

Monthly budget.

Coffee £50
Entertainment £80. (Includes exercise).
Bills £530
Miscellaneous shopping £200
Clothes 100
Food £180
Debt £100
Savings £200
Travel £70

I really don’t know what’s going wrong.

This is my adapted budget.

I'm sorry to be cynical but you're spending too much on unnecessary things. Your debt is fairly small and could be tackled easily by curtailing the clothes and miscellaneous spends for a few months.  Try a "no spend" month and throw the money saved at your debts, as a starting point.

As it stands it doesn't look like you're in the headspace to make the financial  adjustments to live within your means (you seem a little divorced from reality in a few areas) so your debt will rise - at some point your lightbulb moment will happen (hopefully) but you will then be in a bigger hole debt wise.

itsthelittlethings

That’s my budget and I’m sticking to it.

itsthelittlethings

Spent £6.75 on sock knitting needles today and £20 on a bag.