New Changes

WOW almost a year... or should I say a year has gone by since I last posted. 

So many changes.... some good ones and some bad ones. 

Since June last year, things had taken a side turn, finance wise and life decisions. But God is in control and I have been planning like a student high on caffeine. 

I've eventually been thinking deep about my finance moves and where to head off next. I've learnt so much about myself and I hope things can come together by the end of the year.

I have not stopped planning - I'll literally be planing on my phone whilst commuting to work, or building up on my Post It notes in my room or in my diary. 

On the other hand, I have spent money on a few pieces (investment wise) haha! just to get my ideas going. I've been testing a few things and I hope to finally share it once it all makes sense to me.

My next step is to make sure I dedicate more time on this blog and keep recording plans within money and becoming better and better at it. 

Easier said than done, right?! 

I shall be back soon! 

x

Overdueeee

Long overdue.

My last post was in February... So much has happened.

Financially, March had been very challenging.


March
March so far had been the most expensive month me so far, with a short break to Paris and new items being bought. Its been very hard as I have not been organised at all. Everything went pear-shaped and I lost myself. Seeing the total costs flying out was very embarrassing.

April
April was so challenging as I tried to pay myself back for all the other expensive expenses I got myself into.

May
Tunisiaaaa! An amazing holiday. Holiday shopping,

June
The halfway mark month of the year: This is the perfect Finance reviewing time for myself. I've decided that it is the best time for myself to relax take some time and to review my spending from the beginning of the Jan til now.

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So far, since I've decided to record my spending which started in 2013, I'd like to say that I have seen an incredible change from the way I used to spend to the way I currently spend at present. This idea has helped me to see how much I have matured in my finances.



What I've Learnt
Since March I have learnt that it is EXTREMELY important to stand in your financial lane and to stick to your personal goal or goals. I have already set my goal to reach by December that I will really need to stick with. There will be times when staying in your financial lane will come across difficult situations, it is always important to never give up! People can overcome this by setting reminders on their phones, put notes onto there bedroom wall or on their daily appliances.

Here's to February! 

The month of Love and the month of many birthdays fast approaching within my circle of friends. 

This month, I would like to do a challenge on myself regarding my finances.

The challenge... To not spend and to go on a freeze. 

This is going couple of months without any outgoings like I would usually do. I've decided to walk this route to enjoy what I already have in my wardrobe and around me. Without realising, spending becomes like breathing - which I fully don't want to continue have as a habit. I remember doing something very similar last year and everything became easier to walk in a shop and walk straight back out without spending a dime.

Freezing usually is up to 6months of no radical spending. I'll allow myself £50 to spend once in a blue moon, but this would be rarely done. 

What's been happening? 

The next step this month is to think wisely about applying for a credit card. Oh! I totally forgot to mention that I had reactivated my credit report and things are looking rather good. My score has increased. Woohoo! If you'll like to check your score/rating based on your credit, I am with Credit Experian. They are free for 30 days and £14.99 thereafter. I would totally recommend it. 

So let's, see how far my challenge can go.... 

Freezing is a good way to see what you can live without. If you are used to frequently spend, this will be a good way to start ONCE you have your financial circumstances in the right order. With the credit card, I thought well about it, done as much research as possible and planned carefully for the use of it. Applying for a credit card can uplift your credit score or downfall it based on your repayment. If paying on time and funds are an issue to keep up with, then I would highly recommend to later come to this subject. Remember credit card funds isn't yours afterward, it is BORROWED finds and you get charged extra when using it. Best way to put it. 

Im slowly improving

The other day I decided to spend some quality time with myself before a dentist appointment. I went to Starbucks and then stopped at Topshop... - Oh oh!

When I arrived on the second floor I saw these flat shoes which I saw for £15! from the sale area and walked around the store with it in my hands. I've honestly had my eyes on these shoes for a longggg while but never had the chance to ever see them. So this was my chance; my size, half priced and the last pair! I walked to the counter, whilst I was on the counter, I inserted my card in the reader and then decided to tell the woman to cancel my transaction just when my pin got asked to be entered... she even had the shoes ready in its plastic bag! Hoowaaay!

I was sad that I had to leave these shoes but was extremely happy for not spending that amount on another pair of black flats for work - this is also a big thank you for being on the phone to Celeste who was telling me not to purchase the pair of shoes!


Money saved! Phew!


Try to ask yourself question before impulse spending... Did I need another pair of black shoes... Yes! Im kidding! No!! However in the end I was happy enough that I managed to defeat that impulse temptation! So do the same....

How to save

So we have reached January, so many have come up to me and asked me how to save.
It's extremely EASY! I joke.

It is easy once you get the jig of it, difficult when you don't have a clue on where to start or with no guidance.


How I started...


BE PREPARED... Your preparation starts here...
This takes dedication and it is time consuming, and this journey with money and saving isn't going to be an easy lifestyle to follow. With money driving the world crazy, we're driven in to constant spending. I started this journey once God gave me the insight that I wasted money on things which I honestly never needed and worked hard to see money never well spent. So I urge and encourage you to take lead and to focus on great riches towards your finances!

Review

- I took time and looked at my financial spending, (at this point I had to look and examine carefully where my money went). You can do this by checking your bank statements 1 or 2 is enough or receipts ect. This helped to see where I stood financially too.

Note down

- Got a note book! With this notebook note down any spending, calculations, even early calculations on where your money is going (when you receive your monthly income and also check how much you would be left with). If you hit minus you will need to amend certain outgoings.
From this TRY to save your first 10% of that income and see how it works for you. On this point, this notebook is yours, yours personally, jot down advance calculations, important due payments ect. review it when needed. However I guarantee this book will save you MILLIONS!

Needs & Wants

- Know your NEEDS and WANTS!
Do you need that amazing leather jacket and those new pair of trainers/shoes? No! But hands up. I still disobey this rule but it will get you far. I have an extra small notebook and write anything I "need", little bit like a wishlist. I can review and see if I really need these things. Discipline yourself. Look around you and divide your habits from useless spendings and take time to write it down before
spending.

Goal

- To save you'll have to come up with realist goal. If you have a specific amount to save... keep that number in mind and give yourself a time frame to when you would want to finish it by. At first I never had a goal, I mainly got started with the process of just having to save whatever I could, within time I realised that to keep myself motivated I had to come up with a goal. Should your goal take 6months to a year it is entirely up to you. Should your goal be £12,000 by the end of the year?... try it!

Save it to know it

- Obvious one but sometimes its not so obvious. Use a saving account and DO NOT use it for outgoings. Big NO NO. If it helps, try to open up a different account where you cannot see or get direct access. Transfer a small fee so it can grow. Agree with yourself on a minimum to put in there each week/month ect.

Debt free

- This should be rule number 2 but I wanted this bit to be a caught up rule. Listen hard! THIS-IS VITAL! Pay any debts and any overdue payment but expect to be a little bit broke at the start. Let this be your main and your far most important duty, even before saving. If you leave this to the last minute your life will live on the minimal for a long timeeee.

 Keep to change

- Save your change! WOW! I can't emphasise how cool this is. I've saved all of my change and this has added up to great numbers. What to do? Get a jar and start with a penny or two, let this grow till the end of the year. It's never too late and see what you come up with. 

Priorities

- Plan! Plan ahead and tell your money where to go. Categorise the important things to the smallest utility bills.
Have a list of things which needs to be paid off, these are known as your priorities. Break them into months if it helps. I plan well in advance mainly with monthly set dates so I am aware of my outgoings the following month. This helps me to look out for what's coming ahead too, rather than freaking out because of an unexpected bill which needs to be paid on top. On the other hand, planning like this helps and makes you more organised.


Small points... Have monthly money allowance too... this will helps you on not spending money you clearly don't have. Start small so you can budget correctly and see if you can live beyond your means.

The September Issue

SEPTEMBER ISSUE

That financial month to potentially begin and review

I know I haven't been keeping up with my progress financially for past two months on here, which in this case is a bad thing, however to myself I'm looking at it as a positive thing, I can highlight the good and bad pointers all in one.

September, so far so good, I can say I've done good with budgeting towards our trip to The Lake District and for the tons of birthdays, including my own... However September isn't just over yet.

Let's not forget and let's potentially highlight that the month of September is a New Year and season for some. After a long summer break, children are back at school (most parents would have probably end up being broke - not, if financially prepared), others are back at work, its also an exciting month for new entry school, college and uni goers, and as for fashion we all know that September holds the BIGGEST show with Fashion Week not far to take over the world. 

Where am I going with this? 

Starting fresh wether it's a new job, uni or a new chapter in September,  I usually use this month as a personal advice month to myself.

I like to financially review what I have done throughout the year as for the previous year, this can be from overviewing the savings I have so far saved, 

counting my saved coins, 

reviewing how much shopping purchases I have done, 

making sure I am on top with any priority bills such as phone bill,

Plan ahead for Christmas, 

Clothes which I already store in my wardrobe, 

Coming up with new budgeting ideas and also how I can tackle and prevent bad financial circumstances... the reason? 

I personally tell myself that I have 3 months to work on them before the new year period and this will get me prepared in advance with any other holidays to plan ahead and so forth...
It's always good to know how your doing with money and to be at peace.

Review: Try to use September or October as a month to finically see where you are over the past couple months. Treat this like a "Bank Statement". 

Receipts

When we shop we might never acknowledge the importance of receipts with our purchases. We know they are a proof of what we have bought, also great for return and exchanges. Another good thing about them is that we can decide up to 30 days (90 days with some stores) whether we have changed our minds to whether keep the goods or not. For food, such as eating out, receipts are great to also show proof that a payment has gone through if we have made a card payment.

Well, now that I feel that I have emphasised about the importance of receipts, I've noticed how quick of a pile I get from them in my room or in my purse. 

If you are one to bin your receipts, try not to get too comfortable on binning them too quickly, for example if you are one to have two or more cards, its a great way to see which card you have made a payment with. On the other hand, some payments made via cards do not automatically show on your bank statements or if you were to directly check them on your phone or at a cash machine (this can usually take up to 3-5 working days till it appears) and then you'll still think you have money. 

The importance of knowing where you have used your card is vital. Couple months back, I was updating my spending to realise a random outgoing transaction (roughly £1.85) I know it was not a lot but it had appeared twice with no information of what type of transaction it was. With this information I managed to call my bank and ask, they explained that sometimes a small amount would go out and be sent back in my account. (Sounded like it was a regular thing). So this red alert made me really aware... so yeah, be cautious. It is your bank account with your details after all. How would you have felt if £100+ went out your account with realisation? 

Next Step; 

So back on the subject of receipts, I've decided to drop them all on Excel. I've divided my receipts into monthly categories. The categories which I've named are: food, clothing, food shopping, travel, eating out and other expenses.

This well help me to neatly and easily review how much I have spent and how much I could have potentially save.