It’s taking me a bit longer to post my first spending report than I’d hoped and I’m still not sure I’m happy with how I’m arranging things, but I can tweak it as I go along!
Below is a quick overview of the categories I’m currently using, if anyone has any suggestions on how I can better organise these, please do share!
I’m wary of adding too many categories, as I don’t want to clutter things up and confuse myself.
Bills: All regular outgoings, including everything from my mortgage to my 79p a month ICloud subscription.
Groceries: Pretty self explanatory, will include cleaning supplies and some consumables like batteries, light bulbs etc, as I usually buy those at the same time.
Expenses & Car Expenses: This is the part that has made this difficult for me. I had planned on tracking my outgoings as a percentage of my income, but as these spends are returned to me in my paycheck the following month I thought that would skew things a bit. Also, I usually put these on a credit card (which is solely used for work expenses and paid off every month as soon as they are paid to me) so on busy work months, it may actually look like I am spending more than 100% of my total income!
Eating out: This is generally my lunches when in work. I’ve always got great intentions when it comes to bringing lunch from home, so I’m hoping seeing how much my fancy toasties cost over a month will make it easier to stop eating out!
Clothes: One of my vices. I am a fiend for online shopping and no matter how often I say “I’ll return it if it doesn’t fit!” i have yet to return anything that doesn’t fit. Go the post office? No chance.
Toiletries: Will include makeup, and possibly general personal care like leg waxes etc. Actually, I may change this category title as I’d kind of forgotten about haircuts and the like. None of these things have happened so far this month though so I’ll leave it as is for now.
Takeaways: Again, hoping for a reality check in this area!
Travel: The vast majority of my travel will be covered in my Car Expenses, however, I do fly from England to Ireland every couple of months to see my family. So that, along with the odd Uber on a night out will pretty much be the only costs in here.
Misc: Anything that doesn’t yet have a place! So far this has included a couple of bottles of water from the cornershop when out for a walk, a sneaky packet of fags (which doesn’t happen often enough to have it’s own category, if I was an actual smoker, I would separate it) and a box of muffins to share in the office.
Savings: I have an ISA for long term savings, in which I hope to build up my emergency fund, a joint savings account with OH in which we deposit £200 monthly (cannot change the amount) and it’s locked in until December 2018, and a basic savings for short term spends, weddings, birthdays, holidays etc.
So, as it stands, I’m going to post the actual figures of what I’ve spent rather than percentages.
The format may change as I’m planning to set myself mini challenges through the year, using BudgetLikeALady’s 2018 money challenge as a guide. I highly recommend checking out her other blogs if you haven’t already!
I also want to plan my large regular outgoings better, e.g. car insurance, which I prefer to pay annually to get the discount. This is due to renew in June so I may open a seperate savings account and focus on that for a few months beforehand.
As I say, if anyone has any ideas on how better to arrange/track my daily spending, all feedback is more than welcome!
Peace out x