Money Wise Talks 9/12/2021

Following a super hectic and fun weekend, I welcomed the quiet week that followed in The Money Wise Mum household. I can’t believe how organised I am this year and how less stressed I am. I’ve not forgotten to move the elf on the shelf once and all the Christmas shopping is done apart from one gift left to buy. Christmas cards have been brought and will be written and posted this weekend and then I’m done. I have even had time to buy the cats and dog new beds.

In last weeks Money Wise Talks, I mentioned feeling like I’d not brought my daughter much this year, due to the fact that what she’s interested in now is more expensive than previous years. My whole budget for her went on just a couple of gifts instead of the usual lots of less expensive gifts and I was worried that these feelings would make me go out and blow loads of cash – cash I don’t have. Well you’ll be pleased to know I didn’t go out and blow loads of cash to satisfy that emotion – But I did reason with it.

I’m an emotional spender so now I always try and analyse why I want to spend if it’s out of the ordinary and what my motives are before I hit the shops. In relation to how I feel about my daughters gifts, I’m not sure whether all parents feel the same but maybe it’s because I just don’t want my child to grow up! Either that or I’m not quite ready to have the living room not completely covered in a vast amount of multi-coloured presents. Even though they would be less expensive gifts, the room was full. Maybe it’s me holding onto to my daughters childhood that little bit longer. What I do know for sure is they are only young for a small amount of time and every year I feel slightly more desperate to cling on to all tiny details that remind me when she was smaller. A room full of presents on Christmas day being one of them.

So how did I reason with that part of me that wanted to spend, spend, spend?

I spent!

I know what you’re thinking, but don’t worry! I felt like I needed to buy more, not because my daughter needed more and not because I felt I didn’t spend enough but because psychologically I felt I’d not done enough. Although I’m in no way an expert in psychology, my understanding is that most of our decisions are based on emotions and how things make us feel. Spending money, eating and working out or not as the case may be is all down to how we feel. Change how we feel and we can somehow change our path.

After last year I didn’t want to go mad and knew my Christmas budget was almost gone so instead of buying her more presents to make me feel better and that I couldn’t afford, I decided to buy her clothes instead. I was going to buy her some new clothes in January anyway as she has outgrown them so I’ve used the clothes sinking fund, brought them a few weeks early and wrapped them up. Psychologically now I FEEL like I’ve done enough and I’ve not broke the budget.

Even though I have gone slightly over budget, it’s not by £900! Like last year!

I think as well, as long as I’m always improving I don’t mind. I know for next year’s Christmas budget I will increase the monthly amount by a little more so hopefully next year I won’t go over budget at all.

For December I am doing another plan to pay off £850.20 worth of debt.

This is going to be broken down into five payments of:

  • £113.00
  • £368.08 (Extra) Hermes pay
  • £25.00
  • £290.75
  • £53.37 (Extra)

So far, I have paid off £113.00 and £368.08, so three payments left to go. If I can keep paying off £850 a month I should have the debt cleared in a little over 12 months. But thinking about that and another long year of paying off debt gets me down, so I think it’s best just to focus on it month by month. Especially as I had expected to be debt free by December 2021 😦

What did I spend this week?

£9.00 Train to works Christmas party

£6.95 Drinks at work Christmas party

£35.00 Food at Christmas party

£3.48 WH Smith

£0.15 Tesco

£12.20 Morrisoons

£0.87 Parking

£10.47 Macdonalds

£24.00 Car parking

£100 Train for two to London

£100 Drinks and food in London

This week has been so spendy! But also super fun!

A total of £302.12 was spent this week.

The work party and London trip were all put on my credit card. Not ideal but I don’t go out very often. Its also made me aware that I need to consider adding in entertainment to my Christmas budget as this is something I’d not planned for before.

On Thursday, I hopped onto a train to where my work is based (I work from home) and we all met up for a Christmas meal and drinks. The three-course meal finished me off, so I couldn’t manage my passionfruit martini. Loved seeing my work colleagues though, even more as I don’t work in the office.

Managed to have the passionfruit martini at the UKMB event

Then on Friday, I took the afternoon off and dragging a friend with me, we headed off to London for a networking event where I was able to meet lots of other money bloggers. We drank the drinks, ate the bar snacks and talked all night. Well mostly all night – until we had to get the last train back anyway. It was great meeting new, like minded people. Next time, I will definitely be getting a hotel so I can stay out gossiping for longer!

Have a great week

H

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