The last 3 months have seen a combined variable spend of £3,831. This is £800 over budget.
I'm now going to attempt to break down the budget further to allow for better visibility of where the budget is wrong and allow me to focus on resolving.
Firstly, breaking down the spending into sub-categories.
We have Need, eg petrol, misc, debt interest. Kids.
Could. House, Mr Work.
Nice. Mr/Mrs/Family treats.
Then the one-off big items. The general idea of these being all must haves.
How much we spend on big-one off items?
Over the last 12 months we've spend £3,245.89 on one-off big items. This equates to £270 per month.
Our budget for variable spending per month is £450.
If we aim to reduce big spending to £250 per month. That leaves £200.
Things that can be removed, or not budgeted for as we want to remove them...
- Debt interest
- Top up Mrs account
- Mr work - buying lunches etc
Things which remain...
- Mr/Mrs/Family treats
- Stuff of kids
- Petrol
How this could break down...
- £250 on one-off big items.
- £50 on petrol
- £100 on Mr/Mrs/Family treats
- £25 on kids stuff
- £25 on misc little items
I will update the budget and track this going forward.
Hopefully it will focus our decisions and allow me to identify where the over spend is coming from,
No comments:
Post a Comment