Spring is springing (it’s Denmark so it seems to happen pretty late). The weather has been beautiful, the evenings getting longer, and there’s a delicious smell in the air. Budget-wise March has two close family birthdays, mothering Sunday, Easter, and school holidays. I did calculate how much I had spent half way through the month, then once again had a massive splurge in the last week. I thought about it and realised it’s because I get paid on the 23rd of the month but budget per calendar month. For some reason I can’t cope with the thought of managing the month differently so for now I am going to try and be aware of my final-week-free-for-all and see if that works.
|Item||Monthly Budget||Spend March||% of monthly budget|
|Childcare costs||£ 1,100.00||£ 1,000.62||91|
|Car (insurance, tax, petrol)||£ 125.00||0|
|Charity||£ 66.67||£ 28.38||43|
|Eating out||£ 120.00||£ 90.16||75|
|Entertainment – subscription||£ 50.00||£ 118.15||236|
|Entertainment||£ 100.00||£ 50.80||51|
|Kids – extra curricular||£ 250.00||0|
|Groceries||£ 400.00||£ 714.38||179|
|Holidays||£ 300.00||£ 329.89|
|Insurance||£ 200.00||£ 169.35||85|
|Personal care||£ 30.00||£ 248.94||830|
|Shopping – general||£ 25.00||£ 14.89||60|
|Shopping – gifts incl birthdays||£ 58.33||£ 251.85||432|
|Shopping – clothes||£ 29.17||0|
|Rent and Bills||£ 1,500.00||£ 1,771.00||118|
|Transport||£ 41.67||£ 159.18||382|
|Utilities||£ 200.00||£ 186.15||93|
|TOTALS||£ 4,645.83||£ 5,133.74||111|
So how did it go? Better than February, worse than January. I spent £5,133, or 11% over budget. It could have been better, but could have been worse.
- I absolutely beasted my grocery budget AGAIN which is infuriating. I managed to spend 180% of the monthly budget which is ridiculous. I realised I have one particular trap which is the fancy supermarket delivery service (only one place does this in Denmark and it’s way more expensive than my usual Lidl) – that added £200 with no real added value.
- I spent a lot on personal care which I had hardly budgeted for. Thanks to working from home, both my son and I have developed back and neck issues and have to go to physiotherapy. He, lucky chap, gets to go to an osteopath: I get a scary Norwegian man who shouts at me whilst I do horrendous exercises. So I spent a lot more than planned but I do get back 80% from our health insurance company which means that the £250 I spent should actually be in budget when I get refunded.
- My entertainment subscription budget doubled but it included an annual £50 subscription for the Guardian newspaper. Technically I don’t get anything from this other than a sense of supporting Proper News since it’s free to read anyway – maybe I’m prepared to pay before it hides behind a paywall. Anyway, I could stop this cost but I am prepared to keep it for now, at least in solidarity.
|Monthly saving plan||March||% of plan|
|Mortgage (UK house)||£ 500||£ 500||100|
|Mortgage Overpayment||£ 500||£ 500||100|
|Emergency Fund||£ 100||£ 100||100|
|ISA||£ 1,250||£ 500||40|
|Kids savings||£ 248||£ 248||100|
|SIPP||£ 300||£ 300||100|
|£ 2,898.00||£ 2,348.00||87|
And what happened with the savings? I reduced my budget on this because I was saving for the house costs – the deposit is all there but the costs like the lawyer, removal men and so on don’t come cheap and I need to be ready. So an additional £2,000 went to that making a total savings of £4,348.
Overall I spent 54% and saved 45% which I am very happy with, even though some of the spending lines took a bit of a kicking.
How has your March been? I’d love to hear from you!