So, did we stick to the budget?
No. Sadly - following June's great result of sticking to budget - July has been our worse month. We were £954 over budget.
The stag do cost over £400 which is far more than expected. We also had a range of one off purchases not planned for. Wife and kids passports - £160, work cycle annual hire pass - £90 were the main ones.
We also spent £180 over budget on groceries this month.
Any positives?
A giant positive this month was receiving my bonus and paying off my student loan. We've also got enough left over to save £1000, have a weekend away and put £3000 towards my credit card debt.
This is great news but is somewhat overshadowed by our poor performance in the monthly budget.
Actually it shouldn't be overshadowed. I have paid off my student loan!!!! That's £330 per month which I will now be able to keep.
Total debt has now dropped below £10,000.
Lessons / thoughts?
Don't go on another stag do for a long time.
Make sure we rein in grocery shopping again.
The extra spend required reminds me of the need to have an emergency fund so need to ensure this is racked up fairly quickly with the new additional income.
Don't go on another stag do for a long time.
Make sure we rein in grocery shopping again.
The extra spend required reminds me of the need to have an emergency fund so need to ensure this is racked up fairly quickly with the new additional income.
Expectations for next month?
August we have a weekend away as a family. Not abroad but we're still super excited. I suspect it will be fairly expensive.
Car insurance is due but that will be looked after by the bills account which is topped up on a monthly basis.
We're also looking to purchase a laptop, a cheap one.
Effect on overall finances?
S Student loan – £0
· House loan – £298 was paid off direct debit. Total remaining now is £7,143
· Credit Card - £3000 was paid off. Total remaining now is £2,213.40
Total Debt = £9,356.40
Savings
Removing the bills account as those aren't savings they are known bills broken down into monthly payments.
Emergency savings / Savings for France 2017 family holiday
Currently this is just one account and needs to be split into two soon.
Currently this is just one account and needs to be split into two soon.
- £1,648.56
Shares
- Current value is £329.60 (increase of £22.98)
Total savings = £2,001.14
Pension
Pension
- Current value is £10,995.56
No comments:
Post a Comment