Money Wise Talks 03/02/2022

Welcome to the first Money Wise Talks of the month!

Considering I am usually very motivated by the start of a new month and love reviewing goals from the last month and setting new ones, this month I’m not feeling it at all.

I’ve been thinking of taking a month off from setting goals and maybe how I feel at the moment is a sign that this month is the right time to do it. The journey of me paying down debt has taken a back seat whilst I build my emergency fund to £3000 (a figure that came about after me paying just over £2000 in car repairs last year). I have saved £650 so far and have £2350 left to go.

I am hoping my wages in February will have my overtime and the monies back from when I paid emergency tax in January and then I can look to pay a large amount into the emergency fund. My plan was to have £3000 saved by the end of March 2022.

At the end of January I totalled my debt up and it stands at £16,666.85.

The debt has still reduced since December, but only by £28.57. Which although is pretty disappointing, I have spent on my card and it was expected.

I had some good news this week and started to receive weekly amounts in from child maintenance service (CMS) again. These stopped completely last year so it’s nice to see them again. Unfortunately, I am unable to rely on them as they are so sporadic, so don’t include them in my monthly income figures. I am currently using the money that comes in to pay down the MBNA card – which I am pleased to report is nearly paid off!!

In this last week I have sent two payments of £78.37, so have been able to colour two lines 🙂

And I only have £391.85 left to pay on the MBNA card before it’s paid off in full!! Although, since December interest is now being applied so it may be a little more than that. It won’t be much though.

The No Spend Month lost a little momentum by the end of the month and I ended up having another out of budget spend. That being said, I had a total of 18 no spend days which isn’t bad at all.

For February I have made a new Owl No Spend Days Tracker which looks to track days of no spend and spend, instead of it being based around whether I’ve stuck to a budget or not. Clearly, I’ve not started strong but I hope to have 20 no spend days.

You can of course download it for free :). Let me what you think of it in the comments below.

I successfully completed Dry January, yippee but have no current plans to have another dry month yet lol! Let me know if you’re doing a Dry February. You can use my Dry For …. Tracker for free

What I Have Spent This Week

£7.76 MacDonalds

£35.00 Dog Groomed

£11.00 Single Duvet

£57.47 Daughters Coat, gloves and head torch

£20.68 Desserts

£8.46 Present for party and birthday card. Photo frame for us.

£ …… Morrisons

Total £139.38

Absolutely no idea what I spent in Morrisons for food and petrol! This is due to me using cash and not keeping the receipt. As soon as I get home, I scan the receipt into a receipt scanning app and then bin it. This WILL definitely be a learning point for me to take forward this next week.

My daughter was in desperate need of a new coat and gloves so I bought them from Mountain Warehouse. I love buying from there and they had a 70% sale on which was even better! We also picked up a head torch for her camping trip she is due to go on in September. They will soon have a kit list and that will be one of the items, so my plan is to get something off the list each month so it’s not a huge expense.

My daughter also went to her first birthday party in two years! It was so nice to see her socialising with friends from school. I never spend much on presents and managed to pick up a lovely stationary set for £3.99, a pop it key chain for £1.49 and card for 99p. All those gifts looked alot more expensive than they were anyway!

The £20.68 I spend on desserts was ridiculous! However, in my defence I am starting the gym and a new healthy eating regime so wanted one last blow out before I did that – Lol, how my mind works sometimes makes me howl!

Finally, I have my interview set for Monday and Tuesday – it’s over two days! Monday is a written test and Tuesday is a mentoring exercise and then the panel interview. So the next time I write my Weekly Money Wise Talks, I’ll be able to tell you all about it. I really want this job, so I hope I get it 🙂

Hope you all have a great week 🙂

H

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