Apologies to regular readers (hello? anyone? awake at the back?) for the lack of Full English Accompaniment last week. MrsShrink and I have been moving home, which occupied all our time.
The goals for June were:
- Set up a Starling/ Revolut/ Atom/ Monzo account – Achieved
- Sell five items from my hoard – Fail
- Reduce daily living (groceries and lunch out) and entertainment expenses to budget – Achieved (ish)
- Eat out a maximum of once a week – Fail
- Repair or purchase a new bike – Fail
That didn’t go so well. Oh dear.
Net worth fell. Moving house is expensive.
The value of my assets derived from my residence increased (bigger house) but my cash assets fell as we spent our emergency budget/ spare cash moving house. I’ve added data from our joint account now, as although it doesn’t generally feature on these pages, it does explain where some of my cash ends up parked. I also finally tracked down my life insurance figure, but I’m not including that in asset calculations:
Goal achieved: I set up a Starling account, putting my money where my mouth is. I’ve talked in previous blog posts about Starling and it’s relative benefits. Once the dust settles from the house move I intend to move all my spending money into the Starling account, and use it’s ‘pots’ feature to split off money in that account (1).
The liabilities took a big jump this month with my increased mortgage. The credit card debt continues to reduce regularly, and we took a small amount of equity from the house sale to pay back wedding loans to family:
Goal failed: Sell five items from my hoard. Everything I own is in boxes. Haven’t even begun to look.
Goal achieved (ish): Reduce daily living (groceries and lunch out) and entertainment expenses to budget
I have managed to reduce my outgoings in part. We’ve finally completed on our house sale 150 miles away, and have moved into our new home. This means we’re no longer paying rent and mortgage, so my costs for this have fallen.
I spent much less on eating out, having friends over for dinner rather than going out. I also tried to make more lunches or take things from home, but this remains an area to be worked on. I celebrated by paying nearly a thousand pounds for a professional exam. #thuglife. Daily driver insurance also fell this month, biting a hole into my finances where the absent emergency fund should have been.
I’m going to keep this goal on here, as I think I can keep improving.
Goal failed: Eat out a maximum of once a week – improving, as mentioned above, but I still ate out more than once a week.
Goal failed: Repair or purchase a new bike. Found a repair shop. Haven’t set foot in it. I can hear the tutting of mustachioed frugal community members from here.
Goals for next month:
- Rein in spending on the automotive hobby by setting a budget
- Sell five items from my hoard – carried over
- Reduce daily living (groceries and lunch out) and entertainment expenses to budget
- Eat out a maximum of once a week
- Repair or purchase a new bike
Happy July everyone!