For anyone that pops in to read my blog now and again, you’ll know that I set a goal to take control of my life economically in 2018 by living like our grandmothers did (no debt, save money for a rainy day and only buy something if you really need it otherwise mend and make do!).
I guess reaching the age of 52 in January, being in debt and having no savings (I’ve been through several very tough years) has made me panic. I want to be in control of my life, feel financially safe and feel proud of how I live. Being single I do not have a back-up if things go wrong.
I started planning for this year early on in 2017. I’ve always had to live quite frugally to make ends meet as I was spending between £250-£300 per month just commuting from Nottingham to Rotherham 5 days a week for my job. We made plans that when my youngest daughter left college we would move to a cheaper house that would be near my work place (so if my car ever broke down and I had to do without, I could walk). We found a smaller house with a little garden just 2 miles from my job. We had to snap it up because it was ideal and managed to negotiate the first months rent free with the landlord but this still meant we had a couple of months double rent to pay while we waited for my daughter to finish college. But it’s been worth it.
With all the extra expenses of moving and paying double rent (luckily my eldest daughter helped out) it took many months to catch up and get on top of things again but we got there and I’d still managed to put money by in a Christmas Savings Club and started to save an emergency fund.
So January has been all about being getting to grips with actually creating a written budget and sticking to it. My monthly budget runs from pay-day to pay-day (last Friday of every month) and although it has needed some effort, the written budget has REALLY helped me get things in order. This month I’ve paid all my bills, put money away in savings/emergency fund, put money away in my sinking funds and PAID OFF TWO DEBTS!!!!
It has been TOUGH though….I’ve not eaten out or bought anything from my cash food/household budget except for food and toilet paper. Every time I go into a supermarket I have to remind myself to “STICK TO MY LIST” and absolutely ONLY buy something if I NEED it! BUT by the end of the month I have underspent by £80.70p and I now have that sitting in my cash jar, an extra bit of safety. As a single person I don’t have a back-up!!!
And today I’ve completed February’s budget. Every £ is accounted for and I’m ready for another monthly challenge of working towards being debt free and having a proper rainy day fund just like our Grandmothers used to!
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