26 Apr 2017

My Current Budget

I always like to see the exact figures that people use when budgeting their income. So for the sake of fairness, here's mine for an average month (I put money into seperate accounts for the month and if it isn't spent by the end of the year then it goes into investments) :

Take home pay after tax/NI: £1330

Private SIPP: £40
Other pension: £30
Rent (main bills included) for room in houseshare: £400
Commuting costs: £290
Phone/Internet: £12
Food/Household: £100
Clothing: £10 (if that)
Gifts/Charity: £50
Social (weddings/birthdays, etc): £30
Emergency Fund: £25

The remaining £343 goes into savings/investments.

I'm sure that might seem a bit extreme to some people. I don't have holidays or go out unless it's a big family event. Any clothes I get from charity shops if I can't mend existing ones. I have a very basic package phone/internet on a very old second hand model. I also don't own a car. It's difficult, but I want my own home at some point before I turn 40, so I have to make sacrifices now. That's life.

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