My budget is pretty straightforward:
- Expenses £250
- Savings £850
- Sundry £500
- Spending £120
Simples! but after tax my income for this month is only £1,600 and as I have a short fall from last month of £43.42 it means I have less than no spending for the month. I really don't want to reduce my savings. (The sundry £500 is a one off payment) I don't want to use my emergency fund but I will have to for February. As I am having a holiday in March I don't think I will be able top up my Emergency fund until April at the earliest. Not good but better than being in debt.
The tax year ends on the 5th April and I would like to fully fund my ISA by then but will be short by £840. Should I use my Emergency fund to do this, as it will leave me with no safety net for a month or two. What do you think? Would that be good or bad?