Money, budgets and other boring stuff!

 

I hate doing it but more than ever I need to keep on top of my money and stick to a strict budget.  So, yesterday I sat down and went through all my fixed monthly expenses.  Then I added up my fixed monthly income and did a subtraction sum.

After I've paid for all the boring things I can't avoid every month (like council tax, internet, mobile phone etc)  I have the grand sum of £59.54 a month left over.  This has to cover food for me, household items like cleaning stuff/toiletries etc,  clothes,  entertainment,  energy bills and of course food for the dogs and their medications.

Obviously £59.54 isn't enough to cover these expenses and so I'll need to use my savings.  When I was working I saved half my salary each month for several years.  These savings were always intended to supplement my teeny teaching pension until I got my state pension too.  I've also used them to pay my car, house and pet insurance in annual payments as it's cheaper.  Unfortunately a certain puppy used up a large amount of this money in vet bills plus I had to get the building repair work done on the extension.  This means I haven't got a lot of these savings left.  I might just be able to eek them out if I can sell this house quickly.

Luckily, I have another savings fund that I don't touch.  This is what's left of the inheritance I got from my uncle and has always been earmarked for estate agent and legal fees incurred in selling and buying houses.  Plus hopefully a wee bit leftover for new carpets or washing machine etc if needed.  I really really hope I don't need to dip into this fund 🤞

I knew when I made the decision to retire early I might find myself in this position so I'm mentally prepared.  But it's still flipping scary when you see it written down in black and white!! 😱