Spending Journal: January 1st

Well, the New Year is officially here and, as ever, I’ve been trying to plan my finances. While I adjust to my lower income I thought it would be a good idea to keep a spending journal until the end of the month to get me started. Although I haven’t changed my budgets very much (I doubt they could go much lower!) it is more important than ever to keep focused on not going over. There are going to be a lot of birthdays this month which will mean buying presents (for which I have a seperate budget) and going out. Here on the blog I will be recording:

  • Food budget: £35 a week so £140 for the whole month (for both Husband and I)
  • General spends/pocket money: £30 a week so £120 for the whole month

It’s going to be an odd month – lots of things to look forward to as well as lots of stressful changes with work and so on. Also, lots of things to start getting sorted out in time for our summer arrival. The plan is to try and get things done while also making the time to relax – on a budget! I’ll keep you posted on how I manage.

Since I haven’t spent any money on anything at all today I’m off to a pretty good start!

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Categories: Budgeting | 2 Comments

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2 thoughts on “Spending Journal: January 1st

  1. Thanks for this recent series of posts – they have all been very thought provoking.

    I’m amazed at your food budget at £35 a week. I spend at least 5x that at the moment for 5 of us and desperately need to address this.

    I think a spending diary may be the way for me to kick this off myself.

    • shoestringalley

      Thanks – glad someone else is finding them useful!

      I’m not surprised your food budget is more – 5 people is a lot! We only have two of us (for now) to take into account. It is difficult to keep food spending so low when you are trying to accomodate so many different tastes. I know some people wouldn’t be happy with jacket potatoes, beans and cheese for dinner though we often have something like that once a week. We also have dinner at my parents house once a week. Just goes to show how different everyone’s situation is. If you want to cut down, maybe reducing your budget by 10% would be easier than anything more drastic! Even a saving of £20 a week (on anything!) ends up at £1040 over a year.

      I’ll look forward to reading your spending diary if you decide to have a go! x

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