Wednesday, 1 June 2011

May Review

My three goals for the month of May were as follows:
  • Totally fund my Emergency Fund with £1k Done
  • Set aside £500 for my rates Done
  • Set aside £880 for my taxes Not completed
"Two out of three aren't bad" but it's not good either.

The good is that I have opened an e-ISA with £500 (that was meant for my taxes) and so it's not wasted just I have gotten ahead of myself in my savings goals. The remaining £380 however is mostly made up of unbudgeted spending for the month for things like my dental hygienist appointment, books, clothes, eating out as well as internet and mobile pay-as-you-go. The latter two items I really need to add to my monthly budget as they are reocurring costs. Next week I have another visit to the dentist, which is hopefully my last one for a while and I already know that it will be costing me £204. I am having an infulling and that comes in at the top banding for NHS dental chargers which is never more than £204. Thank goodness for the National Health Service (NHS) I guess?!

So at the end of May I have the following:
  • £1k in an Emergency Fund
  • £860 in a Regular Saving Account
  • £500 in an e-ISA
My three goals for June will be as follows:
  1. Set aside £1520 for taxes Done
  2. Put £340 into my RSA Done
  3. Keep my spending to my budgeted amount
Now just gotta do it.......


Prince of Thrift said...

Morning Lisa. Congrats on being successful with the emergency fund. That is still a goal that I wish to attain again.

I am a little rusty on my British English so I am not sure what you mean when you refer to funding your "rates".
Perhaps this monthof June you will be able to attack the fund for your taxes since the other 2 goals are now done. Should be a lot easier then you can start adding to all 3 funds so that you don't have to worry about getting them done again. Again this is something I really need to focus on myself.

LisaClark said...

I am so please that you have finally gotten work. Now you have to be patient and build your financial plan again. You will get there Kevin!
Regards to "rates" think "property tax", I have some land downunder so need to make sure I have monies in my account down there to cover my rates bill.