Should itsthelittlethings spend less on coffee?

itsthelittlethings

What a terrible day. My coat that I ordered arrived and it is absolutely horrible so I’ve also got to deal with sending it back. I had Pret for dinner as I had an online class but I’m in absolutely no state to attend so I’m having a quiet evening.

To top it all off, I missed a tutorial for my Access course the other day. I might watch the recording this evening.

MFWannabe

itsthelittlethings said:

I have made a great leap in my budget. The amount of luxuries I buy has got absolutely ridiculous. I have trimmed my luxuries category by half by dividing it into “keep” and “ditch”.

Hi. 

I think you need to read some of your previous posts 
You flit between recognising you’re massively over spending and then spending again 
Recent post about £20 yoga classes and new camera at £800 as examples 
Where do they fit in your budget? 

Scott_Weiland79

No

Is the camera something you need for work?

My mates a photographer for a local newspaper fair play he spent two grand on a camera then another 1500 on a lense but its his job. Is that really necessary for yourself?

itsthelittlethings

I follow a personal finance creator on instagram and I just saw a post where she recommends 10% of income on non-essentials. This would be £2500 a year.

I’m literally doing an experiment where I use high street non sulfate shampoo for a week instead of my recycled ingredients coffee shampoo (it’s a quarter of the price).

I would desperately like to switch to one cup of coffee a day.

I think I need to sit down with my bank statements next September which will be a year after I cut back on take out coffee and see how much percentage I spend on non essentials.

joedenise

Yes

It's not just coffees and takeaways that are your non-essentials.  Things the yoga classes, online classes (which aren't job related), the camera etc etc are also non-essentials.

Things like yoga can be found free of charge online and I suspect other online classes that you want to do are as well.

Saver73

itsthelittlethings said:

I follow a personal finance creator on instagram and I just saw a post where she recommends 10% of income on non-essentials. This would be £2500 a year.

I’m literally doing an experiment where I use high street non sulfate shampoo for a week instead of my recycled ingredients coffee shampoo (it’s a quarter of the price).

I would desperately like to switch to one cup of coffee a day.

I think I need to sit down with my bank statements next September which will be a year after I cut back on take out coffee and see how much percentage I spend on non essentials.

It would seem sensible to go through your bank statements asap as you have lots of spending which isn't in your SOA / budget.

If I was in your situation my priorities would be paying off the credit card and adding to an emergency fund.  I'd reduce spends on non-essentials and treat myself to something on payday without breaking the bank, i.e. a small spend.

Apart from the coat and camera you mention £90 spent on new boots (with a shoe care kit).

£20 for a yoga class is expensive.  Is that a 1-1 session or a small group?  A gym/class subscription would be better but only if you use regularly as I said in my previous reply.

Budgeting in cash is helpful as you can see more easily how much cash is left but you have high weekly spends.  

Have a read of this whole thread and also your previous thread and you'll see the pattern.

The MSE posters really want to help you budget better, save money and by having an emergency fund will give a bit of security.
You can still spend money on non essentials (it's your money) but do it in a more balanced way.

Saver73

itsthelittlethings said:

I follow a personal finance creator on instagram and I just saw a post where she recommends 10% of income on non-essentials. This would be £2500 a year

Your credit card balance is £2,200 .... if you prioritised this instead of spending 10% on non essentials you would be debt free in 12 months... something to think about.

Scott_Weiland79

No

Saver73 said:

itsthelittlethings said:

I follow a personal finance creator on instagram and I just saw a post where she recommends 10% of income on non-essentials. This would be £2500 a year.

I’m literally doing an experiment where I use high street non sulfate shampoo for a week instead of my recycled ingredients coffee shampoo (it’s a quarter of the price).

I would desperately like to switch to one cup of coffee a day.

I think I need to sit down with my bank statements next September which will be a year after I cut back on take out coffee and see how much percentage I spend on non essentials.

It would seem sensible to go through your bank statements asap as you have lots of spending which isn't in your SOA / budget.

If I was in your situation my priorities would be paying off the credit card and adding to an emergency fund.  I'd reduce spends on non-essentials and treat myself to something on payday without breaking the bank, i.e. a small spend.

Apart from the coat and camera you mention £90 spent on new boots (with a shoe care kit).

£20 for a yoga class is expensive.  Is that a 1-1 session or a small group?  A gym/class subscription would be better but only if you use regularly as I said in my previous reply.

Budgeting in cash is helpful as you can see more easily how much cash is left but you have high weekly spends.  

Have a read of this whole thread and also your previous thread and you'll see the pattern.

The MSE posters really want to help you budget better, save money and by having an emergency fund will give a bit of security.
You can still spend money on non essentials (it's your money) but do it in a more balanced way.

Agree totally here

Save for the camera, keep stricter to your budget, do some bits to boost your income/overtime.

I read a post on the forum the other day a guy had spent a fortune on car repairs was struggling but he saved and saved for a better vehicle.

90 quid on boots/20 quid on yoga now your talking 800 on a camera. You tube yoga with Adrienne is a free example.

And a digital personal finance creator on instagram, hmmmmmmm i could go on instagram and say i am digital brick laying content creator with no qualifications or experience. Or i could tell the truth I have worked in the banking industry 22 years how would you know.

Saver73

Hi again @itsthelittlethings

Payday for me today (hurrah!) and it feels good on a Friday, a reason why a payday treat is a good idea or having saved for something you really want. 

I thought I'd share my spending with you and as well as reading other threads/posts too to see how others budget and spend their money, you might get some ideas or be inspired to adapt your own budgeting and spending.

All my regular/fixed bills are set up by direct debit or standing order to leave my bank account on the first of each month.  This includes transfer amounts to savings and my emergency fund, as well as accounting for my monthly travel ticket which I renewed today ready for Monday, my existing ticket runs out on Sunday.

From the money left I budget

£150 for groceries/cleaning
£40 for toiletries including a home hair colour kit and £15 towards haircuts (£45 each four times a year)
£40 for coffees/lunches out (this usually covers a pub lunch, two takeaway coffees and one coffee and cake)

Today I've spent

£4 on shampoo and conditioner and £5.25 on hair colour (I don't need any other toiletries this month and I have money budgeted for my last hair cut this year)
£7.50 on coffee and cake 
£14 on a purple jumper (non essential spend)

I'm not planning on any other non essential spends this month, and my other upcoming spends coffee/cake and pub lunch are budgeted for already.  I have a small balance in my toiletries pot if I needed anything else.

I usually have a small balance at the end of the month which rolls over to the next month or I transfer to savings or to a holiday/weekend away fund. Sometimes I have additional travel costs which aren't covered by my monthly ticket.

I don't have a car or related costs , no pets, children, so no big costs or things that might cost money unexpectedly but I still have an emergency fund in case, for example, the fridge or telly breaks, or something happens to my job, or I'm sick and don't get paid or am paid less.

I don't spend much money on socialising or entertainment, I use the gym/classes frequently, have friends over for lunch or dinner and vice versa, go for walks etc.  I often make coffee at home to take with me on walks.

I know this type of budgeting doesn't suit everyone, I am used to it, I like having fixed costs and planned spending with the occassional usually once a month on payday spend on something I want...

itsthelittlethings

Am going to try some YouTube yoga this morning. Just as soon as I manage to get my eyes open. Have a thumping headache plus my friend rang in the middle of the night in a bit of a state. I got back to sleep and got 15 very much needed hours in total. Have drunk some water and hopefully the headache will recede.

Spends yesterday were £4.50 on a coffee at lunch and £3 on a bus ride home.

I am training at the new site again this week. I booked all my taxis. It’s a pain having to commute but the actual place is nice enough to work at.

Need to book my train tickets for a holiday at mum’s and also family Christmas. Holiday at mum’s for four days next week. Should be a good break although I have to write an assignment. I’ll block one day out for that.