My financial resolution for 2020 was to save £350 per month, down a little from my target of £400 each month in 2019 because my earnings are likely to be down too. £350 is going to take quite a lot of ingenuity!
So let's start off by saying that I managed only £6.22! Dreadful! However, I had to spend £429.99 on a new freezer and before that I had paid £145 for a short holiday in February so I don't think I did too badly. I used the credit card to buy the freezer but have already paid it off. Money is saved with the intention of paying for such major items, not just to say I have £XXX in the bank.
I failed too on the grocery budget, spending nearly £60. However, that's still a very reasonable figure. I tried a couple of new recipes
I think my weirdest item for January was a computer mouse which cost me £4.88. I'm really pleased with it, I wrote a favourable review on Amazon and was sent a voucher for £5! 12p profit and a really good mouse!
We like to save each month, not as much as you, our target is £2,000 per year. It does give us a buffer, and we can afford to replace bigger items when they fail.
ReplyDeleteAt the moment I'm just trying not to dip into savings at all. I'm having to pay bills on two homes as the sake still isn't finalised. But it's a matter of days now and not weeks. But it's been a struggle.
ReplyDeleteI track expenses monthly (things that are standard monthly expenses - food, gas, utilities, etc) & then yearly, for things that are less even month to month (home repairs, travel, etc). that way, I can tell how much I'm spending on things that are largely predictable, vs spending on things that, once averaged out over a year, actually turn out as expected.
ReplyDeleteI did really well on the food budget as we had so many food gifts for Christmas it gives us a little extra to top the freezer up this month.
ReplyDeleteI think that your being able to pay off your credit card for the purchase of the freezer counts as a savings. Having the cash to pay it off is a major undertaking as you had to save that money in the first place.
ReplyDeleteGod bless.