Budget Check In: March

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.

A quarter of the way through the year already! Photo by Glen Carrie on Unsplash
Item Monthly BudgetSpend March % of monthly budget
Childcare costs £           1,100.00 £         1,000.6291
Car (insurance, tax, petrol) £              125.00 0
Charity £                 66.67 £              28.3843
Eating out £              120.00 £              90.1675
Entertainment – subscription £                 50.00 £            118.15236
Entertainment £              100.00 £              50.8051
Kids – extra curricular £              250.000
Family £                 50.000
Groceries £              400.00 £            714.38179
Holidays  £              300.00 £            329.89 
Insurance £              200.00 £            169.3585
Personal care £                 30.00 £            248.94830
Shopping – general £                 25.00 £              14.8960
Shopping – gifts incl birthdays £                 58.33 £            251.85432
Shopping – clothes £                 29.17 0
Rent and Bills £           1,500.00 £         1,771.00118
Transport £                 41.67 £            159.18382
Utilities £              200.00 £            186.1593
TOTALS £       4,645.83 £         5,133.74111

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.
Spring time sunshine and sakura. Photo by Arno Smit on Unsplash
 Monthly saving planMarch% of plan
Mortgage (UK house)  £                500 £              500100
Mortgage Overpayment  £                500 £              500100
Emergency Fund  £                  100 £               100100
ISA £               1,250 £               50040
Kids savings £                   248 £               248100
SIPP £                   300 £               300100
  £   2,898.00 £ 2,348.0087

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!