Now that I have chosen this path there is no hemming and hawing, I am finally taking everthing in stride and hopefully in the following months I will be properly adept at trimming all the budget fat and reach a point where I can live within my income and not splurge needlessly.
The template I downloaded for my budget is the American application Pear Budget, after trawling the internet I was happy to start with something free but comprehensive and though this is a bit busy on first impression it offers a step by step guide to sinking your teeth into budgeting and understanding a simple Excel spreadsheet even if you are not adept at this.
The principles of this budget template are that your expences fall under three catergories - Regular, Irregular and Variable expenses. The spreadsheet lets you keep track of your daily expenditure and you can also look at an indepth analysis of the budget. Its still all work in progres but my monthly spend is looking something like this:
Regular Expenses:
- Rent - £411.67
- Travel - £60
- Insurances & Hospital cash plan - £23.64
- Tithes & donations - £65
- Savings - £125
- Rainy day fund - £50
Irregular Expenses:
- Gifts - £30
- Family £75 (this is the onus of coming from an African family - need to help out)
- Hair - £20 (another weight, starting to put money on the side for when I get to take care of my african nap)
- Overdraft - £50
Variable Expense:
- Store cards - £140 (no more splurge purchase, its painful paying back for something that I am not wearing anymore*OUCH!!!!*)
- Food shopping - £100
- Mobile & Internet - £60
- laundry - £15
Well it's all still bare bones at the moment but I am making progress, and change is coming WATCH THIS BLOG!!!!
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