To enable me to carry on grabbing a morning latte and being able to afford the odd luxury item at sale time it is imperative that I start the new year with a budget that I need to stick to. I have a weekend oversea’s break planned and the balance of this along with spending money will need to be factored in also.
Food – £100 per fortnight. I prefer to shop fortnightly as you get free delivery if you spend over £100 with Sainsburys and if you are a money saving expert who balks at the idea of anybody being frugal and shopping at Sainsbo’s then listen up folks! I have spent many months putting my shopping into both supermarket websites and there really is so little difference if any. Sometimes Tesco might be more expensive and with the “Brand Match” promotion that most supermarkets currently offer you will find Aerial washing powder will be the same price in both places.
Christmas – £100 per month. This is a big increase on last years saving which was hit and miss, didn’t start until the end of February and was then sporadic. I find Christmas costs in excess of £1,000, I spend a fair amount on the kids and we have a big family to feed over the festivities with aged parents and grand parents etc.
Gas/Electricity – £40 per week. At the moment we are using approx £3 a day on electricity and no where near as much on gas. If we get snow or a long cold spell our gas consumption will at least triple so by plugging away and putting the same amount on the meter each week we are prepared and will be able to keep warm what ever the weather.
Holidays – I intend to save £50 per month towards my mini break in the sun. This should cover my balance and spending money. This may have to increase if we book a family holiday for the summer months.
As per every other year, I intend to keep our direct debits to a minimum, keep a daily spending diary so that I know at all times where every penny is going. Keeping track of what you spend is essential, I spent £40 over Christmas and New Year which I didn’t keep track of but luckily I remembered where it all went.
What budgeting plans do you have in place for the new year and do you keep a daily spending diary?