Budgeting is my main focus at the moment. I worked out I’ve been overspending by around £184 a month. When I don’t have any money left over I’ve been using credit cards and my overdraft to finance a bad lifestyle.
It’s time to get a grab on my debts. It’s time to hold myself accountable to my money problems.
My total monthly debt payments are: £682 per month. This expense is shockingly higher than my rent at £575.
Other monthly expenses spread include:
Food spending at around: £150
Energy Bills: £95
Water: £42
Council Tax: £66
Insurance: £135
Petrol: £70
Internet/TV/Phone: £110
Mobile: £35
In most cases, people have no idea where their money is really going and once they see it on paper it surprises them to learn their spending habits.
The simple effective solution? Reduce my expenses. Cutting back my expenses will begin to tackle my debt.
Right now looking at my income, expenses and cash flow it not pleasant reading. My personal finance is damaged. In light of this I’ve decided to face facts and go from money spending to money making.
Is it a crime to be poor? I’m totally sick of struggling in life trying to juggle my finances and job. I’m reforming my finances like a fat cat banker. So my new strategy is to get control of my budget, earn more money to finally pay off all my debt.
