Week 1 Round Up

The first week wasn’t too bad. We had to spend on some extra bits that I forgot to add to the Tesco shop such as yoghurt, bread making supplies & bin bags. Ooops, won’t be doing that again! We’ve spent lots of time outdoors during the day and in the evenings we’ve been playing board games or having family games tournaments on the Nintendo switch. We are lucky in that we have a lot of resources at home so we don’t have to buy anything for us to do together.

I received a massive shock when I looked at how much we were spending on eating out per month so as of next week we will be keeping track of exactly how much we are spending per meal and comparing it to the weekend takeaways we were having.

In the last post, I talked about peloton and said that we were looking in to it. We have decided we will purchase one but once we have saved the money to buy it outright. That’s if we still want it once we have saved for it!

Our new way of buying things is to put it on a list and if we still want it in 30 days then we will save for it and then buy it. Impulse buying has been a big problem for us and probably a lot of other people too. I found myself more than once sitting 2/3 hours after buying something and thinking

 “Why did I buy that? I don’t need or want it!”

Then I would feel bad about returning it so ended up keeping something we don’t like or use to sell at a stupidly discounted price or give away for free most of the time. Does that sound like you too? A lot of us are guilty of buying things we don’t need. Mines used to be makeup. Hello Lockdown! Don’t need the makeup anymore!

Ironing out the creases

Before starting this journey we streamlined everything. We got rid of everything in the house we did not want or need, we cut down all the bills we could and we made a comprehensive list of all incoming and outgoing payments. Even the children got on board with sorting out their rooms.

My next post will have my top 5 budgeting tips but I am including this sheet here so if you’re struggling to budget you can get started now. I am a pen and paper girl. As much as I love a spreadsheet, I don’t feel that I stick to budgets set in them because they aren’t tangible. I have made paper budgeting sheets which I will fill out monthly and I have added a copy here so feel free to use them.

Overall, this week we spent £10 outside of our set budget and put another £15.80 in to our savings pot. Our total savings for the week is £70.21! That means we are 2.3% towards our goal of £3000. This might not seem a lot but for a family who were spending every penny previously it is a major achievement for us. To clarify our weekly spends is over our budget we have set, more on that in the next post, and our savings is what we have physically put in to savings.

Spent this week£10
Saved this week£70.21
Total savings to date£70.21
2.3% of the way!

Here is to another week! Wish us luck!

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