June Budget

June 2013 Budget ChartI 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.

Debt repayment:

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.

Travelcard:

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.

Mobile phone:

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.

Groceries:

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 ;))

Entertainment:

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.

Cinema pass:

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! 😉

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