LIFESTYLE : Attempting to Manage your Money
So I thought that I would write another one of those Adult type posts to share something that I personally found to be helpful.
Basically, you might recall that in August last year, I started to plan for Christmas....
Its about three mins in of this video
Money is something that is constantly on my mind - Luke and I have gotten to the stage of our relationship (six years this year) that we want to take the next step and save a mortgage on our own house.
However despite the best intentions we aren't in a very good place when it comes to the old bank balance.
I am comforted by the fact, that I am not the only one, as alot of people I know my age are in the same position.
However, we both decided separately that it was time to take charge.... It was rather odd how in sync we were when we both asked to speak to each other.
My dad had mentioned a little tip that he uses.
He keeps a spreadsheet of outgoings so he knows exactly how much he is spending on bills and other items.
So I sat there and I looked at our joint account and opened up excel....
I worked out that some how we over paid 200 pound each (which should cover food for the month)... but it all disappears by the second week after payday.
The answer.... takeaways and other 'justified' splurging.
Now I have luckily given up takeaways for Lent but the amount of money we spent up till that point is just stupid.
I repeated this with both of our main accounts and found similar patterns.
We agreed that this needs to change. Had I not have done the spreadsheet, I think that I would still be very in the dark.
I have also put our savings on there and any debts that we might have.
I was gonna put a screen shot on here.... but then I realised that there is very sensitive material on it haha.
So the idea is simple.
- Get an excel spreadsheet. Open you bank statement.
- Add direct debits or any monthly outgoings.
- Add them all together and deduct from pay as to what you should have left.
- Then look at your spending and let out a small whimper.
Just thought I would spread the joy....
Thanks for reading