I am almost embarrassed to be posting this as my budget for June looks pretty depressing. On the bright side, this is my first ever budget chart and I am a little proud of myself for making it this far 😉 Let’s see where my money is going in June…
Rent & utilities:
Okay, I guess it is time to admit that I pay more than I should be paying for my rent and utilities (council tax, water & electricity, cable TV and internet). That’s 42% of my total income each month! I love my flat; it is quite central, a short Tube ride away from my office and I have lived here for just under two years with a flatmate who is adorable, but I guess I should stop paying this much no matter how nice the place is. I would ideally like to reduce this category to 30-35% in the next 6 months. I know that 30-35% of my total income is still a lot, but I have to be realistic as I know I will not settle for anything less than a decent place in a nice part of London with an easy commute to the office, so I guess 1/3 of my total income towards rent and utilities is pretty reasonable and something that I am content with.
I think 35% towards debt is not bad at all (especially for someone who used to make only minimum payments for quite some time). This month I have made a payment to my Mum as I owed her some money (sad, but true) and the other half went towards my personal loan. I have only made a minimum payment to my credit card this month, but I will start attacking it with full force in just over a month.
Okay, this may seem like a lot (and it is; transport in London is ridiculously overpriced). You see, my company buys our annual travelcards in December for the year ahead (it is a lot cheaper to buy annually than monthly) and we then pay them back, interest free. Instead of making 12 payments per year to pay off my annual travelcard, I requested to pay it off within 10 months which basically means that I will not make any payments in November and December this year.
I have overpaid this month. I went travelling in the beginning of May and I was calling out, texting and using internet a lot, and I am now paying for it, literally. This category should be down by 2-3% next month.
I have allocated just enough money for food this month. I have set myself with a challenge to spend no more than £20/w on food in June and so far so good. It may seem a little extreme, but I have enough food in my fridge and I am not, by any means, starving myself (although maybe I should, as I really need to lose a few pounds before I go away on holiday ;))
2% in June, not much. I have had a meal out with a friend in our favourite Italian, and I have still got some cash left over for another dinner out in town. I will budget a bit more next month.
I am a huge movie fan. I go to the cinema on average about 4-5 times a month, so a couple of years ago I took out an unlimited cinema membership which allows me to watch as many films as I like for just under £20 per month! This is one thing that I am not ready to give up as I love my films way too much!
Personal care & contact lenses:
This should probably be one category making a total of 2% of my income. I wrote a post last Sunday where I mentioned that I stopped buying expensive make up and hair products. I only buy essential personal care products and I spend much less than I used to.
I hope you are all having a great week, one more day in the office, bring on the weekend! 😉