Budget Round-Up: January 2014

Planned vs. Actual:

January Budget Round-Up

Budget Notes:

  • I got caught out with picture messages again!
  • Grocery over spend due to B being home for half of January
  • Miscellaneous spending way over, but £185 was gift money (see below) ;)
  • Extra income (with gift money included) was £203.07. I’m only counting £18.07 counts towards the £2,014 in 2014 challenge though.

Miscellaneous Spending:

January Misc Spending

Ummm!

I also spent £14.50 from the gift fund!!

January Financial Goals:

  • Save £800 towards house repairs – YES!
  • Save £300 towards 2014 travel – YES!
  • Save £25 in gift fund – Yes, but spent £14.50 of it!
  • Save £20 in personal care fund (dentist & optician) – YES
  • Save £50 in S&S ISA – YES
  • Overpay the mortgage by £58.96 – Yes

Net Worth (Financial Freedom) increased by £2480.29 but the figures are a little skewed due to changes in M’s pension scheme – he’s just started a new one and is getting a very good employer contribution for the next 3 years.

That’s a wrap for January! How did you do?

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Comments

  1. Gill says

    over spent here by a lot due to the terrible cold weather and having to buy “stuff” to stage the house to sell………..next month won’t be looking much better either!!

  2. Done by Forty says

    There are always months in which our miscellaneous spending gets away from the plan. I figure that’s life, and as long as I only have rare aberrations (and not a monthly habit) then it’s fine, in the grand scheme of things.

    I’ll be doing our next issue of budget porn next month, but initially it’s looking pretty good (mostly because I had a ‘no spend week’ this week, to make sure it didn’t get worse than it already was.)

  3. Viv says

    Just released my budget for the bills – have yet to look at the Housekeeping side. It has taken me most of January to research the energy companies and check out places for our savings. I feel a sense of relief now it is almost over.
    A lot of what you have under miscellaneous I incorporate into my Housekeeping budget. I also run a clothes account so I can never overspend on this category. I let it build up usually and then go and buy in outfits.

  4. SarahN says

    I’m pretty lax on Misc spending so long as all the important things are sufficiently taken care of – mortgage, food, bills. It won’t happen every month, and you probably enjoyed a few of the items!

  5. Fiona says

    Yep, my Miscellaneous spending was waaay up too (mostly expenses with the new job – clothes, shoes, hair, cosmetics.) You did great on all the January Financial Goals! I’m tallying up my expenses ready to post tomorrow.

  6. Jenni Tulip says

    It’s really interesting to see how you plan your budget. Some of the items you class as miscellaneous, I have put in their own categories such as eating out. I haven’t broken down my personal spending (similar to you miscellaneous)but think I will do this month.
    You can read my January budget round up here if you would like to see how we compare here

    Jenni x