I’ve been working on a new budget a) because September’s coming up and we will have some college costs for my daughter b) because our current one isn’t working!
When doing a budget I always start with essentials; the cost of groceries and the cost to run our home.
Back in November the basic costs came to £1,114.19, now they are £1,059.92. A £54.27 reduction. I’m quite pleased that the basic costs have reduced slightly as this will cover college expenses.
Basic Budget:
£542.34 Mortgage
£107.70 Council Tax
£32.00 Water
£12.00 TV Licence
£21.08 Life Insurance
£15.00 House Insurance {buildings and contents}
£12.00 Telephone Line Rental
£88.00 Gas and Electric
£829.92 Subtotal
£230.00 Grocery
£1059.92 Total
Let me know, how often do you fully review your household budget?
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{photo credit: The Shopping Sherpa}
{ 4 comments… read them below or add one }
Hi-Love the picture, is that your home? It is so attractive. Unfortunately, Quicken update 2010 smashed our personal finance recordkeeping so I am updating our budget and all of our financial records. I’ll take any and all condolences, it’s a pain in the neck!!
One comment on your budget, TV looks really low. Not a big priority?
Barb Friedberg recently posted..REDUCE STRESS Get Rid of Dysfunctional Money Behaviors – Part 4
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No not my house Barb
The TV cost is just the licence fee, we pay for a digital service too…these are just are essential costs…non essentials will be revealed next week
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ah I was wondering where the internet came in to this. surely a bit essential?
and £15 for home and contents insurance. thats very good. I could only get mine down to £30. Maybe I have some expensive items. hmm
Mo recently posted..miracle walks
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I do zero based budgets too… every penny is accounted for. Right now our budget is cut WAY down cause we’re moving in a few weeks. After we move and get the new bills I’ll be redoing our budget as it’s going to cost more when we move.
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