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    • JennyJukes
    • By JennyJukes 20th Jul 19, 4:10 PM
    • 308Posts
    • 952Thanks
    JennyJukes
    Saving for..?
    • #1
    • 20th Jul 19, 4:10 PM
    Saving for..? 20th Jul 19 at 4:10 PM
    I'm not quite sure yet! But I would like to stop wasting money and be more accountable with it!

    A little bit of background context:

    I'm 26 and live alone with no family around me. I left an abusive relationship 2 years ago and became homeless. I spent most of my then 8000 savings, some necessary some not. I went on several holidays and outings, bought a nice computer, furnished a property I got and bought myself a whole new wardrobe. Sometimes I feel guilty at the amount of money I spent but a lot of it was a coping mechanism. I am now in a much more stable and happy situation and would like to start being more accountable with my money.

    I recently moved, having been placed in the roughest council estate of my town and the anti-social behaviour was really bad. I am nearing the end of my biggest debt so I put it towards renting a nicer property. Not MSE but so much better for my mental health!

    I am also in a new relationship. My partner is here on a study visa for the next 1-2 years. After that, who knows? Maybe he'll get a job here, maybe we'll move somewhere else, maybe we won't be together. As such, I have no idea where my life is going to take me in the next few years so I don't want to commit to anything but I also want to be prepared because life has taught me it doesn't always work out the way I plan!

    Until then, my goals are to:

    1) Stick to budgets and save the rest.
    2) Get a better paying and more stable job.
    3) Only buy what I can afford - no more financing/debt. Save for what I want.
    4) Have fun with my money! I don't want to lambaste myself for having an occasional treat.
    5) Learn to cook more and bake.. at all

    I'm going to pop up a SOA in a bit and would love if anyone could point out where I could be saving or maximising my savings. I also sometimes see people my age (and younger) being married, owning homes, having families etc and feel a little bit bad about it so if anyone could tell me that I'm doing fine too that would be a massive help

    Thanks for reading (or at least allowing me the bandwidth to post my dull life )
Page 12
    • savingwannabe
    • By savingwannabe 12th Jan 20, 7:53 PM
    • 14,432 Posts
    • 47,878 Thanks
    savingwannabe
    Fingers crossed the pay will be ok.

    I think you have done really well working full time and only buying lunch a few times. You have also helped boyfriend out. My (very rich) brother in law lives abroad and pays for my niece at uni the currency conversions cause delays all the time so I sympathise.

    Wow so you are planning to do some travelling that is wonderful. It is really something to look forward to. We like a bit of travel on this thread. Hurrah.

    Have a good Sunday and Monday.
    Trying to be a frugal minimalist. 14/31 NSDs. Saving 2 in money boxes.
    • JennyJukes
    • By JennyJukes 13th Jan 20, 8:35 PM
    • 308 Posts
    • 952 Thanks
    JennyJukes
    Boyfriend got his money today and transferred me straight away so that's him sorted for a few months.

    My new colleague started and I was happy to see she's very nice and has the understanding you really need for this job. Also lots of connections and insight which I lack lol. So hopefully it will be good. We will make it work, together.

    To the store for some groceries 12.96 with a view to go again in a few more days. Then to the doctor who said my blood work came fine and likely I am just dehydrated, which makes sense as I'm quite bad at drinking throughout the day. Truth be told I really hate drinking water so I need to flavour it.. Plus my routine has been out of whack since December and I haven't been eating that well. So a better diet it is! Can't believe something that was so painful was most likely just not drinking enough water!!

    2 more days to pay day!! Let's see what I get paid. Lots of competitions to catch up on.

    Groceries: 12.96/25
    Entertainment: 112.93/60

    Can't wait until that entertainment is back to 0 lol
    Saving for:
    Emergency Fund: Complete
    House Deposit: On-Going
    Second-Hand Replacement Car: On-Going
    And whatever else the future brings...
    • JennyJukes
    • By JennyJukes 15th Jan 20, 6:29 PM
    • 308 Posts
    • 952 Thanks
    JennyJukes
    Woohoo pay day! Boohoo extra tax! I put the leftover money of 114.80 into my Marcus account so I'm starting fresh again on my wage.

    I have updated my SOA:

    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household......... 0
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 1582.45
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1582.45


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 70
    Rent.................................... 395
    Management charge (leasehold property).. 0
    Council tax............................. 83 (12 months)
    Electricity............................. 53 (Gas & Elec)
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 10
    TV Licence.............................. 12.54
    Satellite/Cable TV...................... 5.99
    Internet Services....................... 19
    Groceries etc. ......................... 100
    Clothing................................ 10
    Petrol/diesel........................... 30
    Road tax................................ 1.66
    Car Insurance........................... 27
    Car maintenance (including MOT)......... 35
    Car parking............................. 0
    Other travel............................ 50 (Maximum, can be less)
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 10
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 25
    Haircuts................................ 10
    Entertainment........................... 60
    Holiday................................. 0
    Help to Buy ISA............................. 200
    Other Savings............................. 250
    Other Beauty............................ 5
    Spotify................................. 9.99
    Total monthly expenses.................. 1472.18



    Assets

    Cash.................................... XXXXX
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 1000
    Other assets............................ 0
    Total Assets............................ XXXXX



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 0........(0)........0<
    Owed Tax.......................150......(50).......0<
    Sofa...........................520......(20)...... .0
    Total secured & HP debts...... 670.......-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Total unsecured debts..........0.........0.........-



    Monthly Budget Summary

    Total monthly income.................... 1,582.45
    Expenses (including HP & secured debts). 1,472.18
    Available for debt repayments........... 110.27
    Monthly UNsecured debt repayments....... 0
    Amount left after debt repayments....... 110.27

    [/i]


    I haven't included how much savings I have as I feel that isn't a good idea. But the aim is still to save whilst paying off the debt. I have about 3 months left of tax repayment as apparently I haven't paid enough tax so it's being collected over the next 3 months. 2 years to pay off my sofa which is at 0% so not too bothered about paying off. Trying to keep my second hand bought outright (11 year old) car going as long as possible. Everything else I'm just trying to keep as low as possible and renew to the best deals. I have also started paying into my workplace pension so that's 2% of my wage. That's an aim to increase. I also now put 250 extra into a savers account on top of my H2B. I already have my 3-month emergency savings too. This will all change again in April, some higher some lower. I might try to pay off car insurance and TV license in one go when it comes up for renewal to reduce interest.

    Now looking back to the goals from when I started this diary in July:

    My goals for last year:
    1) Stick to budgets and save the rest. - For the most part I've done this!
    2) Get a better paying and more stable job. - I bumped my wage up around 300 a month!
    3) Only buy what I can afford - no more financing/debt. Save for what I want. - Have stuck to this.
    4) Have fun with my money! I don't want to lambaste myself for having an occasional treat. -Have stuck to this too!
    5) Learn to cook more and bake.. at all Haven't baked at all lol but tried out so much new dishes! So sticking to this too!

    Now for my goals this year

    1) Get my contract renewed or find a job that pays at least 19000 (I need this if I need to sponsor my boyfriend when he leaves University)
    2) Stick to budgets and save the rest
    3) If my contract is renewed then increase my pension
    4) No financing, save for what I want to buy
    5) Continue to bulk cook from scratch
    6) Clean more often lol
    7) Have fun!

    Boyfriend went to a research type meeting today on international students studying in Scotland. He got a 25 amazon voucher for taking part. I've definitely converted him to doing things cheaply and for extra money and extra credit! We make a great, frugal team! My ex used to use our money for luxurious things that I couldn't afford and I hated it. 20 on fizzy drinks a week which is almost my current weekly food budget!

    I bought a toastie to go along with my soup today for 2.50. I need to go to the store tomorrow to make some more bulk meals for this week so should stay under budget. Not sure what I'm doing this weekend - I had a night out but it has been pushed back and I was offered to come to another but tbh I don't really feel like it. It's cold, I'll have to travel alone and I won't know half the people so it won't be fun and not worth it for me. Planning to visit family soon so that'll be enough socialising

    Work is starting to pick up so I'm feeling confident again about it and I'll have other staff in my office - I won't be eating alone soon enough lol

    Groceries: 15.46/25
    Entertainment: 0/60
    Saving for:
    Emergency Fund: Complete
    House Deposit: On-Going
    Second-Hand Replacement Car: On-Going
    And whatever else the future brings...
    • savingwannabe
    • By savingwannabe 15th Jan 20, 7:47 PM
    • 14,432 Posts
    • 47,878 Thanks
    savingwannabe
    Hello well done on achieving your last year's resolutions. I think you have done really well. You are saving as much as me on pretty much a similar salary so well done.

    If you don't feel like having a night out that is fine. It's not everyone's cup of tea - it's certainly not mine. I am glad working is picking up you seem to be enjoying it well done.

    Have a good food shop tomorrow. I might not be able to do one till the weekend. lol. Good night.
    Trying to be a frugal minimalist. 14/31 NSDs. Saving 2 in money boxes.
    • JennyJukes
    • By JennyJukes 16th Jan 20, 5:53 PM
    • 308 Posts
    • 952 Thanks
    JennyJukes
    Night out is back on 8th Feb! Heading to a newly opened buffet then some drinks. Excited!

    Work picking up again and made some new connections. I do always say care work brings in the best and the worst people, clients and staff alike. I've heard some awful, awful things said by "care/health" staff but there are other ones who are so understanding and nice. I also received a really lovely thank you email today which makes it all worth it.

    6.01 on more food today which leaves me with 3.53 for Saturday night with boyfriend which isn't even enough for snacks, heh. But I'll try keep costs down. Cashed out 8.15 from prolific so straight into savings.

    Groceries: 21.47/25
    Entertainment: 0/60
    Saving for:
    Emergency Fund: Complete
    House Deposit: On-Going
    Second-Hand Replacement Car: On-Going
    And whatever else the future brings...
    • savingwannabe
    • By savingwannabe 16th Jan 20, 7:10 PM
    • 14,432 Posts
    • 47,878 Thanks
    savingwannabe
    Hurrah for a good night out at the buffet and a nice email. I hope you do treat yourself on your night out with BF as you do work hard.
    Trying to be a frugal minimalist. 14/31 NSDs. Saving 2 in money boxes.
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