Total Budgeting And Outlook

Yo guys,


 


I've had a productive day.. Not for my company but for myself.. I've been creating a budget for myself on excel.. It contains all my incomings and outgoings, most importantly my budget for variables (going out and food) and then i have an extra 2 columns..


 


I wrote down what I could change now(phone provider) and the other column what I can change in the coming future.(energy company etc)


 


Ive been following my budget to a tee so far this month and buying meat from a local paleo (grass fed) company in bulk and my veg in bulk, keeping everything as simple as possible.. Going out I have kept my drinking to a min and when I did it was vodka before and a small budget in the bars.. So far the action of monitoring myself has taking the unknowns away.. My brain says if you go over this budget then you cant have this much savings this month. 


 


The change in the coming future contains things like : paying my car insurance annually as well as gym membership and paying off any debits (sofa etc) All of a sudden my savings fly up.. feels good to think this..


 


But what am I saving for?? 


 


I added another column today, called New House and future.. I live in an apartment and am viewing a new place this weekend, working out things like how much i will get in rent for my current place when i live at my new place.. totting this up over a period of time gives me a clear indication on when I will have enough money to repeat this procedure of renting and moving.. A personal plan!


 


What I have done is common sense and nothing new, its the fact I am tracking everything which gives me a drive and a sense of I'm going somewhere, doing everything for the future without saving for the sake of saving.. Hopefully and with this forecast in ten years when I am 43 (oh god) I will have a nice portfolio of properties, be on a much better income, have a bigger house.. and this isn't guessed its now planned.! Good luck me! 


 \m/(>.<)\m/ www.trucke.co.uk - my rockband!! \m/(>.<)\m/

Comments

  • Good luck


    I am incredibly grateful for all those who dedicate their time and experience here in helping others. I once was able to do the same in several other fora, often spending hours on end answering questions, which in turn gave me great personal satisfaction. 

  • StevoStevo Upgrade in Progress
    Great stuff, mate! You'd be shocked at how few people actually do what you've just done. Take control!


    Some ideas for you that I do with my budget:

    - pay yourself first: as in, if you know how much you will save, just put it away first so you don't see it and can't spend it

    - give yourself a fixed amount for fun per week. If you go over this amount, you don't get any more until next week. When I lived in UK it was £70 per week which was plenty.


    And if you really want to step things up, pay the money to see a good financial planner or accountant. They should at least save you what you initially spent to see them. There are so many rules you can use to your advantage it is insane!
  • "But what am I saving for?" - I think just the act of saving and having back-up funds reduces your general stress and anxiety and lets you consider more options (for example if you ever need to have a period with no or low income, e,g, starting a business) rather than getting stuck in a rut because you can't afford to take time to change course. There'll be plenty of unexpected circumstances (or expected events at unpredictable times) that will arise in the future where emergency funds are required and if available will make these challenges a lot easier to get through.....


     


    Main thing is to stick to a regular amount regardless and only use the savings when absolutely necessary - some deposit accounts are good at providing disincentives to taking out funds


  • Awesome plan, well done! One quick note -- the Rich Dad Poor Dad philosophy is interesting in a couple of aspects. First, your house is not an asset. While it's awesome to own your home, just keep in mind it isn't necessarily a means to building your wealth. Second, the idea of saving (beyond the basic safety net) is ineffective to build wealth. Consider what you can invest in -- a new blog, forex trading (my two interests) or something else that piques your passion.


     


    Great way to start! I wish I'd done so at your age. I think back then I was up to my ears in credit card debt. Ah, bad ol days! :) 


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  • Cool... Thanks for the feedback on the plan.. I have a viewing with an apartment at 5pm UK today.. :-) Looking forward to putting my plan into action! 


     


    I've read rich dad poor dad, what I took from it is to look at everything as the means to opportunity... About Forex trading I used Fapturbo a couple of years back and lost about £100 from a £500 investment. I've always thought about doing it myself under the belief that there will be patterns that will almost guarantee you a decent return, I have always thought that it's such a volatile market that I could never relax in the day without having access to my account.. How do you do it? 


     \m/(>.<)\m/ www.trucke.co.uk - my rockband!! \m/(>.<)\m/

  • StevoStevo Upgrade in Progress
    Fapturbo? What a name! Haha!
  • Ha I know.. Its not the best.. 


     


    Hey Ive gone another step into this.. After realising my budgets were just numbers I more or less plucked out of the sky I thought I would hack into my food shopping and my social life and I'm pretty pleased with wht Ive done.. 


     


    I started with food.. I could more or less (at the moment) tell you what Im going to eat throughout the month, obviously there are anomalies (events etc) but usually my diet is pretty straightforward and doesnt change much.. so


     


    I created another spreadsheet outlining the days of the month in one axis and the other i plotted AM, Lunch, PM I did this over a 30 day month and highlighted red sat and sun of each week.  I then wrote my diet out for the month and then worked out from the tesco website how much it costs me per month per item.. Ok easy enough.. My only major variable here is a sunday which is cheat day and ive been known to spend £20-25 on the evening meal for film and a feed with the girlfriend night.. but i factored that into it.. I found that I wasnt far off with my budget..  


     


    So I thought if this is my diet and I plan to eat like this for the foreseeable future then why dont I bulk buy as much as I can, freeze it and use it as and when and here are my findings..


     


    I eat a lot of meat.. Chicken, Steak and bacon and i usually buy them as and when so hacking it with bulk buys with some great local butchers www.paleowales.co.uk I saw 20 pastured chicken breasts for £29.99 (ive seen cheaper but they are not pastured) I figured I needed about 36 to cover me and my girlfriend so £40 on chicken seems like a lot but when I'm paying £6.72 for 2 free range chicken boobs costing me an equivalent of £134 it makes so much sense.. the same website has steak and bacon so buying a bulk of them creates a similar huge discount.. so you may wanna invest in a bigger freezer.. 


     


    The next were eggs.. Ive been getting my eggs from a local farm for £1.50 for 6 and they are lovely, plus i love keeping the local farms ticking over.. but if i were to hack this I would use this website (other are availble per country) http://www.thegoodeggfellas.co.uk/ I found I eat 3 eggs per weekday except fridays 57 eggs a month go down my gullet, so this site offers a tray of 30 free range pastured eggs for £4.37 X 2 which is £8.74 for 60 eggs when now I am paying £14.25 for the same amount, almost halved it.. Id tried to bulk buy butter and would like to know if any UK bulletproofers have any ideas there couldnt really, saying that I dont use too many sticks a month..


     


    Bulk buying things like mixed veg are much easier than i thought, im currently buying steam packets you shove in the microwave, they cost £3 for 2 and I use about 4.5 packs a month costing me about £7.50 This can be brought down to just over £1 with large bags shoved in the freezer.. Next is Wine, my girlfriend loves a bit of rose I do too, try to keep it down to a glass, and I like a glass of red now and again, take it or leave it its not exempt from a hacking.. a bottle of blossom hill white zinfandel is approx £5-£6 per bottle, I found a box of 6 for £21.99 which is £3.67 each. 


     


    Other things can be hacked like the cheat meal ..voucher codes, nus (student discount, do a course get a card, or get a chick with one :-)) tuna is pretty difficult to hack, catch your own ha or get this haha  http://www.valupets.com/pets/hill-science-plan/hills-science-plan-kitten-food-tuna-5kg/22373.html - i actually wondered about it.


     


    anyway.. After I totted up how much Im saving a month it comes to something like £120 - 130


     


    This is well worth doing if your diet is pretty similar day to day... 


     


    I also did this for my social life, buying bulk bottles of vodka, 6 for £58 equalling less than a tenner per bottle.. and drinking a lot more before going out, using kombucha instead of diet sodas, making your own kombucha.(a dollar a gallon apparently). give yourself some leeway so that if you dont go partying then you have budgeted to go out to the cinema, its a balance that i only realised when written down. buying drinks in clubs, buying rounds, can be a killer to your budget so be mindful of how much you are doing it... taxi rides home are a killer if you live away from the venues.. This coupled with rising fuel costs has made me look for an apartment nearer the venues and more importantly work..Ive detailed this up top..


     


    So thats about I could ramble on a bit more about the social workings out, its just an educated guess on how much I drink and how much that costs, buying spirits in bulk and drinking before you go out will drastically save you money, quitting altogether would be marginally better!! :-) 


     


    Thanks for reading this huge post again.. All this makes me have a fuzzy feeling of control over my life, I have or at least am trying to quantify myself.. Good times! 


     


    This is all imperative to my success, and when I get to a place where I have the abundance Ill buy you all a drink!!! :-)


     \m/(>.<)\m/ www.trucke.co.uk - my rockband!! \m/(>.<)\m/

  • StevoStevo Upgrade in Progress
    Nice one mate! Keep at it. Eventually you can quantify things like how much power your fridge uses compared to a "5 star energy rated" fridge and see how much you could save by swapping over. You can do the same with all your appliances, even your power bill itself, your other bills too. Hack, hack and hack some more!
  • I'm scaring myself with all this ha! 


     


    Power bill.. yeah that would be the natural step I guess.. I had a pretty large electric bill recently and I live in a 2 bed apartment where im not there in the day, so I feel a bit helpless as to where to start to hack this.. I need an energy meter I guess! 


     \m/(>.<)\m/ www.trucke.co.uk - my rockband!! \m/(>.<)\m/

  • Thanks Hotspoons,

    I live in England as well and I am going to try the thegoodeggfellas.

    For the meat, I have been ordering meat boxes from the cottagefarm. They are on ebay on http://www.ebay.co.uk/usr/cottagefarm
  • MaverickAzzMaverickAzz Powerful


    I've had a productive day.. Not for my company but for myself.. 




     


     


    Best. Line. Ever.

    No sorcery, just science. 

  • Hook up everything to power strips then only turn stuff on when you need it. Let's say you watch one 2 hour movie a day, your DVD player is using more electricity in the 22 hours it's on standby then when you are using it.
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