Sunday, 2 February 2020

Looking back

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!

5 comments:

  1. 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.

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  2. At 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.

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  3. I 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.

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  4. I 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.

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  5. I 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.

    God bless.

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