January 2015 Income/Expenses
It’s payday tomorrow which means time for the first Income/Expenses report of 2015!
Expenses are running high this month as I bought a new bike (finally) and got the last of the required house furniture to allow us to finally finish unboxing things a year after we moved in. I’ve had a really productive month; managing to keep both of my January challenges of no alcohol and maintaining a low carb diet. From the peak at the start of the month I’ve lost a grand total of 9lb so far! And have every intention of maintaining the diet into the next month. Very much looking forward to having a modest return to alcohol as I’ve made a start on the homebrew which will no doubt feature in a future article.
Google analytics tells me we’ve had 3,500 pageviews from 775 users. An increase from last month and especially good considering I started to filter out alot of the referral spam. I’ve also started to receive a couple of enquiries into guest postings on this blog. Please do get in touch if you’re interested however all content must be relevant, interesting and promoting the positive financial habits I believe in. If you’re trying to flog payday loans you may wish to look elsewhere ;)
On to the report:
Income
Salary: £2029.31
Pension Contributions: £506
Lottery prize: £25
Total: £2560.31 (+14.31%)
Expenses
Mortgage/Bills: £700
Groceries: £310.24
Petrol (Gas): £5
Maintainance/DIY: £0
Eating out: £58.49
Healthcare: £0
Entertainment: £102.81
Other: £299.35
Total: £1475.89 (+2.22%)
Income massively up due to enrolling in the company pension scheme from December. I also scored another lucky win on the lottery. A few of the commentators last month highlighted this in last month’s report. I’m not much oh a gambler myself however I do automatically play the lottery each week as my single form of gambling. I put the expense for it each month under the ‘Entertainment’ heading as it is a small form of entertainment to me. Big one-off expenses this month in ‘Other’ relate to buying a new bike and the last bits of furniture for the house. Especially pleased to see groceries down by a large amount.. I suspect this is thanks to all the booze I’ve not been buying! A savings difference of £1084.42 which is 42%.
Networth
House Equity: £27,340.27
Cash in bank: £3,280.74
ISA Investments: £4,291.03
Pension: £17,408.67
Total Networth: £52,320.71 (+3.4%)
A networth increase of £1730! Almost double what it increased by last month and thanked largely by market increases in the ISA and Pension funds. House equity continues to improve steadily as I overpay the mortgage of around £500 – £700 each month with an aim to paying off the full balance within 10 years.
8 thoughts on “January 2015 Income/Expenses”
Smashing start to the year there Guy.
Good work on heavily over paying the mortgage.
And on getting a new bike. Will save you money in the long run :) . (Unless you get hooked and need loads of lycra and a quicker bike)
Mr Z
Thank you Mr Z!
Looking good ERG, stay focused and get er done! Keep up the good work for the rest of the year.
Thank you ADD. Hoping this will be a good financial year.
Great start to the year. Having good savings rate definitely allows your net worth to growth month over month. Keep up the good work.
Thanks Tawcan. I was hoping it would be over the 50% mark but got hit by the furniture costs.
Nice work on all accounts mate!
I’m glad I didn’t fully give up on the alcohol in the end as if I lost 9lbs I’d be a skeleton ;)
I’m clearly not one to talk about high expenses but groceries seem pretty high, is that for both of you or just half the bill, if so then it’s reaaaally high!?
I pay for all grocery spending as my partner earns slightly less and she provides transport instead. The grocery spending also includes all alcohol and occasional random household non-food goods we pickup in the supermarket. It’s been quite expensive last month as we both started trying to eat healthier which has meant buying alot more fresh food.