March 2014 NET Worth/Budget

Cash – £0.05
Santander 123 C/A – £3,195.32
First Direct C/A – £1,524.39
EasyCash – £1.00
Credit total – £4,720.71

Capital One C/C – £656.20
Creation C/C – £1,233.56
MBNA C/C – £3,456.09
Debt total – (£5,345.85)

Net worth
£4,720.71 – £5,345.85 = –£625.14

We knew it was coming, that pesky negative number but that doesn’t mean I’m any happier about it. And I’ve come up with a plan to turn that around which is actually why my spending is a LOT higher than I budgeted for this month but more on that after the numbers!

Budgeted Actual +/-
Rent & Bills £600 £681.53 £81.53
Essentials £500 £716.80 £216.80
Food/Drink £300 £333.35 £33.35
– Groceries £117.07
– Eating Out £216.28
Travel £250 £414.30 £164.30
– Transport £259.20
-Breaks £155.10
Entertainment £150 £72.93 -£77.07
Miscellaneous £200 £202.71 £2.71
-Clothes £96.72
-Beauty £2.00
-Gifts £22.00
-Charity £0.00
-Fitness £30.32
-Other £51.67
Total £2,000 £2,421.62 £421.62

We had all of our bills for the next three months come in at once which is why that’s a bit higher than usual but that does mean that I won’t have to pay them for the next three months, swings and roundabouts! I’m finally making some headway on getting my boiler replaced back home so that I can get my flat rented out and had to fork out an unexpected £180 on an EPC in order to get a green deal certificate and money off the changes. Then the only really major overspend is my travel but that’s because not only have I finally got around to registering my Oyster card so I could put a monthly travelcard on it rather than weekly or using pay as you go but I’ve also paid for more of my travel/hotels for trips I’m taking in the next three months all in preparation for The Plan…

Budgeted Actual +/-
Rent & Bills £500
Essentials £500
Everything Else £310
– Food/Drink
— Groceries
— Eating Out
– Travel
— Transport
— Breaks
– Entertainment
– Miscellaneous
— Clothes
— Beauty
— Gifts
Total £1,310

You’ll see that this months budget looks a LOT different and that’s because I’m setting myself a challenge. After reading about how Girl Counting Pennies was able to survive (in London) on less that £100 per month I figured why couldn’t I do the same? After looking at it more carefully I decided my own challenge would be to live on £10 or less per day which for the month of March means £310 maximum. This doesn’t include rent, bills and the things I have to pay for my flat back home (the Essentials category in my budgets) but it does include Travel, hence buying my monthly travelcard in advance this month.

I want to do this for at least the next three months and I’m definitely committed to March and April but May is not only my birthday month but I have a friend’s wedding at the end of the month that is probably going to cost the entire budgeted amount so I may need to do some recalculations for then but we’ll cross that bridge when we come to it I suppose. Wish me luck!!

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