Tuesday, 10 January 2012

2012 Plans and Dreams

No spend days: 6
Everybody seems to be doing Carla's No-Spend challenge for January I thought about participating too but as I have a very set budget for January and my spending money for the month is £155.85 my current account balance left over from last year. So 100% of my income for January is all budgeted for and there is no room for saving anything extra.

January is Tax payment month for the year ending 2011-2012, so that is my biggest expense for the month. It's due by the 31st and I will transfer the payment on Friday 28th therefore gaining as much interest on the money as I can get.

I am continuing my saving plans from last year and so will be aiming to save £500 a month into my Freedom Fund and £300 into my Building Fund. My Freedom Fund is an ISA and I am planning to fully fund it by the end of the Tax Year in April. I may have to use my Emergency Fund to do this but feel it is all for a good cause. I can save up to
£5,340 tax free for the tax year of 2011-12 and then this amount goes up to £5,640 for 2012-13.

I am planning several trips overseas this year and have already paid for the first trip which is to
Venice in March. I have promised to attend a cousin wedding in New Zealand in August and would really like to visit both Kenya and Uganda maybe in December?. And then I have been looking at city breaks to Moscow too. Oh there is so much world to visit isn't there!

Do you have any major trips planned for 2012? Where are you off to??

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