November – done! Again, this spending report is later than I like to post but work has just been hectic and mentally draining and when I get home of an evening, I can’t face anything but making dinner and crashing. The way that work has been recently, has really reinforced to me the importance of being on this journey and working to become financially free. I can’t keep doing this for the next 30 years. If I’m struggling now whilst I’m young and (relatively) fit, I don’t know how I’d cope being 60 and still having years of work ahead of me.
As November was a busy work month with some work travel too, we didn’t do an awful lot else – apart from spend that is!! Our personal spending is high this month but we needed new technical gear for our hobbies and so we made an investment in new waterproofs and trail running shoes.
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.
Still plugging away at our BA Premier Amex. We’re now over 165,000 Avios points and hoping to get to over 200,000 by the time we book our companion voucher flight. We’re also expecting 10,000 bonus points on our Gold Amex for meeting our annual spend on there in January. We’ll convert these to Avios to bump our total points up closer to that 200k mark.
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)||£171.15|
|Food (groceries, household goods, food out (work lunch & eating out))||£715.54|
|Personal spending (own money, haircut, work clothes, hobbies)||£1026.60|
|Transport - train (commuting)||£201.00|
|Transport - car (petrol, parking fees & tolls)||£89.46|
Total £4,456.16 || Savings rate 47.68%*
*(excludes passive income)
notes on november
- november 2018 spending was £4,247.68, so pretty comparable, which is interesting given our crazy high personal spending this month, which is an anomaly. This indicates that we’re actually have come out way lower than last year had it not been for those investments in gear, which is encouraging.
- savings rate was close to that magical 50% we want to achieve.
- as mentioned at the top of the post – personal spending was high!
- food included more meals out than usual, including an amazing country pub lunch in the depths of rural oxfordshire, which was worth every penny!