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.

Pennies found

This post will be short and sweet!
Last week I randomly explained to my friend about the pennies I found (£1.29p - in one week) and when I mean found, I mean the pennies which I find on the street or lying around, she laughed and it gave me the courage to explain to her the reason behind it and I'm pretty sure you'll want to find out too!


I didn't want to brag about it but I thought I'll share my point on it. Based on the last post, now that I have bags of coins this helps me to build my pennies into pounds. I've gained to value pennies more now that I value the fact that it accumulates in my penny jar. Seriously... try it. Try and see how many pennies you can find a day for a week!

Try this for a whole month and see how much it comes up to...

Keep your pennies!

In one of my latest posts I've expressed very small on how your pennies can make a huge difference.

Yes they can! 

When I was little my parents faintly told me about saving. So... I did, saved my pennies in a sock and that's the very least I could remember.  

But let me tell you...Saving your pennies become the golden outcome to your finance. Believe me.

From my experience, I saved pennies with no care (until today). I've seen great fruits from this. Since realising and giving up my time to count that bag abundantly full of pennies, it became a joy to see the sums adding up into fuller pounds.

You might think saving your loose change is slow and has no value, but trust me... It is worth every penny. Have you ever been at a counter when you needed that extra 2pence which you thought didn't have any value to its name because it was bronze in colour? Well next time keep it safe as it will have a greater value before you know it.

Its very easy to find change in your pocket, what I do at the end of the day is directly pour them in my money jar. For a boost, those little coins I've been saving have already reached over £60+.

Saving your pennies, may not seem like a big deal but I will explain the golden rules which I've learnt from this experience.
- You become very disciplined, you know that once you save your pennies/coins they will add up
- You understand the value of "small"
- Better to start small and see it gradually build rather letting go of the small things and see nothing grow
- Incase of an emergency you'll know where to go.

So for next time that 5p that's laying around - find a home for it :) Moving forward, you can get money bags from your bank, bag those pennies to make a whole sum and keep them save in your bank account.

Easy! 

Bad Habits

I'm sure by reading my posts, you'll acknowledge that I'm becoming a "geek" to the land of budgeting. Well for myself that's a great move.
The past couple weeks has been an eye opener. I've managed to catch up with friends and within the last few days it has come to my attention that a few of us ladies do not tend to put our finance into consideration! Tut tut!

Time is money and money is time.

Ladies. Be careful on how you spend. This is an advice to myself over and over again. I know that I am not an expert at not carrying a certain amount of cash on me but be aware that spending to fulfil your needs when you are upset isn't a great idea either.
And ladies. Do me a favour and put your debit cards aside.

One friend of mine at work expressed to me that she spends a lot and on how much it is more or less becoming a habit. Yes the beginning is hard but disciple is a virtue too just as patience! Teach yourself that some items are not needed. just because its nice it doesn't mean that its a need. Learn the difference between your NEEDS and your WANTS and also if you have the money for it!

How did I overcome it?

- I looked at my bank statement once and was ashamed of two things: 1. Small consistent purchases made and 2. Sum of the figures spent. This made no sense and I realised that I wasn't working for free and needed to see the fruits of my labour.

- I started saving by doing it "small-small". I calculated how much I needed for my outgoings. From this point onwards the money which was left over, was directly popped into my savings.

- Writing and keeping notes on where your money is going, or in harsher terms, telling your money where to go is also another solution. Make sure that you are in full awareness of the bills which needs to be paid off first as this can have a bad result to your credit score.

- If I used cash, my change will be put aside. This has made me value change a lot more than dashing it around the house (I will post about it later on).

-Think of how your work schedule is for the week. Mentally tell yourself that you wake up to go to work and once work is over you will go straight home. With this technique you will not spend and if hungry tell yourself that you will eat at home.

- I looked at everything that I had at home. Clothes, shoes, jackets ect. and realised that it was more than ENOUGH! I had been buying things, that so many items still had tags on them or I either had a duplicate of an item which was either very similar but in a different colour.


Cutting a habit for myself is like giving your life away, but now, I can say that hard work makes you a lot happier than having a mounting of things which you will hardly remember.

Reading to better your goal

Books! I honestly wouldn't have grown the way I have today if it wasn't from them. Of course towards this journey and from the very first step I wanted to better myself with my financial habits and needed that little boost, these amazing lectures made me realise that it was achievable to change my ways of spending and perspectives.

7 Money Rules for Life by Mary Hunt had opened my eyes! I love this book and it also helps you to believe that whatever financial status you may find yourself in you will be able to get out that deep end with respected timing, discipline and patience. Borrowed from the library, I will definitely invest towards it!
If you are financially stable but would still want to go in deeper other reading books such us .... will
this is also a good way to see how you are progressing with your finance. Right? Doing a check on yourself here and there, lets you keep in check.

This blog is to help and better myself. I'm finding deeper passion in speaking about my goals, teaching my techniques with friends and still wanting to progress. Coming from a non taught financial family background, its come from a big realisation. Whilst on this subject, if you feel that financial books have helped in anyways, feel free to help people around you. It isn't everyday that we speak on how to save and how to be financial stable. If you cant afford to buy them right now, sign up to a library and get borrowing for free! (But be aware of when the book needs to be returned also)!

BOOKS

Sort Out Your Family Finance £10.99

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Personal Finances by Margaret Corridan £10.99

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7 Money Rules for Life by Mary Hunt £11.00 (approx.,)

Tip/Review:

These books are very helpful to see how you progress and for personal and professional guidance. Investment wise these books will help you to flick through, highlight whatever point that will benefit you (well that's how I like to read). On the other hand, if you also feel like after couple reads that it has helped you, you will be able to pass onto someone else :) 

x

AHHT LAST - I've spent...

So... June is here and so are the sales!

What's good?

Well with shops opening their doors to the red bold -50% sign on the sales floor, I'm sure the excitement raised joyfully! I must admit, I did go out and spent but this time I managed to do it wisely. Couple years back I would have happily and without a second thought comped money to shop for goodies. None of them actually pleased me in the end (thinking about it) but this time it was achieved with money that I had purposely saved for the sales. Happy, Yes! Trouble? I oddly found myself returning most items.

With everyone shopping with excitement, it is very wise to shop with money you have solely saved rather than money you don't have. To my surprise, I spent way less than the budget I gave myself. When I mean, less... I'm talking less. 

This huge change showed and proved to me that I:

- Managed my money properly

- Shop for things which I really NEEDED rather than wanted 

- Asked myself if I have anything similar at home (which will most likely be a Yes and this directly helps me to put the item down if I do)

- Am still accountable of owning clothes with attached tags to them

- I spent way too much to come to the conclusion that the things I bought had no relevance to my needs, from previous shopping during the Sales

The list can go on, but this should be a guide to not do silly spending. With the remaining funds having it saved for the next upcoming sales would be a suggestion.

x

Caught in the act

Here we are, finally reached June. Outlooking my personal progress towards money this month, and carefully observing, I can honestly say that I have undoubtedly been very naughty staying in line with my spending.

I have been going out with friends and been doing "little spending". On my journey back home from West End today I added up all my spendings and discovered that I REALLY did go overboard with my budget. Total? £117.66

Ouch! Now that is a lot! 

I know what I did was wrong, there will be a time where you will let yourself go with spending because you think that the money you are spending away is "small" but be in control! DO NOT LET THAT BECOME A HABIT! However, the sum of the moniesss which I've realised to be spending like I had no money to save, made me realise that this was a wake up call. 

What's next?

No more spending! BUT! The next pay received, I'd have to reimburse myself, meaning whatever sum I receive, that amazing 117.66 will directly be my main priority subtracted from it. Sucks right. This will teach me that these little spendings can be a dangerous step if I keep continuously with no awareness loose track, and this can put me in a bad circumstance if I ever urgently needed that money for much more important situations.

Tips/Review:

- Keep track of your spending, even the smaller ones and keep your receipts (This is also a good way if you had been charged twice if appeared differently on your bank statement).

- This was an alert for myself, as soon as I realised that my spending was getting worse I held myself back and told myself no more. 

x

Plan for Sun

Everyone wants a treat and everyone wants a treat in the SUN! 

I've been to a few places but the sun had never been the cause or the reason to escape from the horrible British weather. My main reason for an escape would generally be to relax or to be away from home for some peace and quiet. 

For some people, it can be quiet hard to save for a holiday as some things are main priorities and important. Working full-time and still enjoying the outings with friends, I've managed to come up with an idea on how to save for a holiday. This was a random idea which came to mind last month and thought I'll put it in to practice. 

Verdict?

Well, I'm glad to know that its going well! 

You can do this alone or you can do this with your partner or a friend... But I would honestly say that it works better with your loved ones. Two people or more is also ideal.

The trick of this plan is to workout how much each can afford from your intake bi-weekly or monthly paycheck. For myself I've decided to put in £20 every two weeks... if a payment has been missed I then add £10 to every week failed.

So, find yourself a pot... or a jar.... whatever you want to call it and STICK TO IT! 

You can start off like I did, or by doing £20+ depending on how quick you want to go on holiday or how good your paycheck is looking, but firstly set yourself a goal! 

From my plan, we decided to go on holiday next year, the bottom line is, if me and my partner put in £10 every week till the end of the year we have come up to a sum of £700+. Isn't that pretty good eh?

Its slow but this trick is planned and we will be very likely to go on a beach holiday.. this also has its perks and it comes to a conclusion that...

1. We can plan were to go in the meantime of saving and it lets us budget...

2. We will have a chance of booking it at a cheaper price rate if we were to book it early...

3... Saving money aside will help you to deposit for a holiday which will allow you on continuing to save up towards your holiday. 

It's never too late to plan, even starting off with the few odd coins, you'll be very surprised. This just doesn't stop here, I will keep you updated blog!

Tips/Review:

This is good for money management, I've never seen myself doing this but lets all put it to work by the Grace of God and see how far I can do this! Baring in mind that December is only six months away I would like to know how we can achieve! Yikes! 

Any change you have from previous holidays or country breaks feel free to also add it in there! We started off with £80 from a previous holiday this year so I'm pretty sure the outcome should be a good one

x

Colours of richness, for less

  

As mentioned on my earlier post - I've done my weekly food shopping. I had a budget of £20 and managed to leave with change. Oink! Oink! 

Total: £8.92

This food will last me for the whole week.

Food bought: 

-Salmon

-Mixed Vegetables

-Couscous

-Grapefruits x2

-Spinach

-Tomatoes

-Yoghurt

-Cucumber

-Bell Peppers

-Bananas 

-Red Onions x1

Shopping to Eat

Throughout my time at uni until couple months back, saving on food never crossed my mind or nevertheless something I would have ever considered. Prêt A Manger and Starbucks were my two most common stores where I'll rush into for a quick breakfast. With such commonly and well known stores on the market, I find that it is extremely easy to spend when the belly is speaking and when the last note and few coins are available. 

Thank God, realisation came to mind! 

Back in 2012 I decided eating the old McDonald every time for lunch was not a good idea. From this point onwards I decided that the money I spent whilst I was at work for lunch was better off to go on food which I could add more condiments to. 

Getting into the habit is not easy but it surely saves you two things: Time (You become organised and you plan ahead and you also enjoy your break more whilst everyone is rushing to eat) and cash! (You discipline yourself not to spend on the extra chocolate bar).

Ever since, I've set myself a budget where I either spend £20 or less or no more than £20 - the rest goes into my piggy bank! Oink Oink!

Tips/Review:

I plan ahead for the food I eat, since I budget and carefully plan what I have bought to make, it allows me to prepare my food well in advance as my work schedules varies from when I start or finish. I have worked out how much it cost me to eat weekly and I have managed to cut it down from £25 to £20 a week on food. My food is becoming a lot healthier too but I still treat myself with the odd few extra coins on my McDonald Apple Pie.

That Itchy Spending... Personal Record

So, here I am, I've finally come to terms that I've decided to record my progress through the media. A personal thought on how much my view towards finance, especially with money has changed.

As a 23 year old girl working full time in retail, with a fashion degree, I would have never thought that my interest would slowly turn itself towards budgeting, saving or even finance.

In today's society, having your first job is exciting, but once you have that job it very hard to acknowledge that saving the money you have worked for can lead you into two paths. Saving. Or staying broke.

I want to share my experience with money as an ordinary London girl who LOVED the freedom to shop, going out with friends, overusing my mobile phone minutes and spending all my money with no finance background.

Many girls my age would have a job, spend it all, live "Paycheck-To-Paycheck" (which I will abbreviate under PTP later on) and would find it incredibly hard to save 10% of what they earn. I'm not pointing the finger because I used to live this way and it would be a great thing to see more girls and women to save more than to spend.

x