August – over and out! We were back in the groove of work after our holiday in July and had a quiet month seeing friends and beginning to get a bit more serious about the house hunt! We actually hit a huge milestone this month – hitting £100,000 in cash savings for our house! We got there a month earlier than planned as I got a bonus from work at the end of July which tipped us over the mark. It has been a long, hard slog to get to this point and we’re not done yet, we’re going to carrying on saving for the house aggressively as we’ll need quite a bit when we move.I do have another blog post planned to delve into our savings for the house a bit more. For now, I’ll just revel in the glory!
credit cards: how we buy everything
easier to track expenses
We track every single penny we spend. So, we like to do most of the spending on one card. I also have my card linked to my phone so I’ll get a notification every time I use it – easy to pop the expense in our budget tracker right then & there.
Normal service has resumed on the BA Premier Amex after we switched to the Gold Amex to hit the spending target for 10,000 bonus points. We are now under £2,000 away from our companion voucher
build our credit
For simplicity, we could just pay on our debit card for everything, particularly as it would be even easier to track expenses that way instead of using a credit card and debit card. However, it’s important to build up our credit history and maintain a good credit score rating.
And yes, we pay off our credit card in full, every month.
how we organise our expenses
As I alluded to in an earlier post, we track every single penny – more on our budget strategy in this post here. So what we generally do is put numbers next to categories but those numbers aren’t set in stone. We generally try to spend as little as we can, with those figures there to guide us. In my report, I haven’t added the planned numbers, just the actual spend.
what you won’t see here on a month-month basis
We pay for some things up front on an annual basis. All our insurances are paid this way, as is the car tax and we tend to do our charitable donations all in one month at year end. Those expenses will pop up in the month they’re paid.
|Housing (rent & council tax)||£1,840.00|
|Utilities (gas/electricity, water, tv, music, mobile phones, broadband, cloud storage)||£182.77|
|Food (groceries, household goods, food out (work lunch & eating out))||£736.71|
|Personal spending (own money, haircut, work clothes, hobbies)||£205.25|
|Transport - train (commuting)||£132.20|
|Transport - car (petrol, parking fees & tolls)||£98.94|
Total £3,322.28 || Savings rate 43.13%*
*(excludes passive income)
notes on august
- august 2018 spending was £3,743.75, so we’re down again for year on year spending which is great!
- a pretty quiet month all told – groceries were a bit more this month as it was a 5 week month. However, I had some money off vouchers for Sainsbury’s and I stocked up at Aldi as well to keep costs down.
- side hustles were good this month, some were paid out this month but some won’t be realised until September. I still recognise them all this month because I hustled hard for them! I worked overtime at work, hit £50 on Populus Live surveys, did a market research for £50 and Prolific was also a decent month for surveys (we’ll probably cash out in October or November). I also signed up for Quidco (not sure why I haven’t done it before) and got a new member offer of £10, plus got Mr. NC to sign up with my referral code, so we each get £10 when he gets £5 of cashback. Nice easy way to get £30 more in the house savings.