I’m hoping writing about money more often will make me more conscious of how I actually use money. I mentioned to someone the other day that my total expenses for the month was about £4,500. They were aghast. I was surprised myself but not aghast. Maybe this has become too normal for me. They said they could easily live on a £1,000 per month. It got me thinking—why do I spend so much money?
If I go through my expenses, sure enough I can find where all that 4.5K went; for sure. But did I have to spend all that money? Maybe not. I definitely overspend. I need to do better to reign in my spending otherwise I’m not going to meet my mortgage deposit goal—which by the way I am yet to clearly define and articulate.
I think I’ll do that next. Maybe it’ll give me the much needed motivation. Motivation is fine now, but it’s in the moment that I need it. The moment when I think I need a £20 laundry basket right now. A £45 fabric chest of draws for my clothes, or a new £50 cooking pan. All of it adds up. It’s those expenses that end up hurting me in the end.
I have to figure out a way in September to bring my expenses down to less £1500. I feel like cutting Spotify and all those little things won’t do much. Maybe not individually, but taken together—Spotify (£10) + Linkedin Learning (£25) + Skillsoft (£19) + dental subscription (£10)—and you’re already at £65 saved. At the end of the day, when it comes to money, the little things really do make a difference when accumulated or taken together.