When I have something in mind, like a car or an impending deposit, I am quite good at saving and can always find a way to put some money aside for my goal. However, when I have nothing to specifically save for, my savings account is bare and my current account is also looking a bit sad.
The strange thing is I don’t buy many outlandish things. I am a fan of charity shops and take a long time to buy any article of clothing over a tenner without thinking it over. I wear most shoes to the point of decay as I fall in love with a pair and continually wear them for as long as the fabric will allow. This always comes to mind when I consider how I always seem to be living payslip to payslip, no matter if I’m being paid a decent wage or the minimum.
Food is a major thing in terms of my spending. I have figured that my antics of popping to the local shops every day to grab some snacks is costing me roughly £5-10 a day, leading to about £30 a week, totalling a tearful £120 a month on just snacks! This on top of the actual food I buy for my meals, along with my monthly bills and petrol for the car probably add up to £350 coming out of my account each month which really doesn’t need to happen. One of the reasons I aim to lose weight, is not only health and comfort, but I simply can’t afford to keep buying lots of small snacks every day.
I have made a goal to save £2000 this year, far from my goal of £6000, but I can fairly say that the cost of owning a car has been far greater than I anticipated. The cost of a failed MOT for my cheap car, along with a new tyre and battery, put me back over £500 alone, as well as the horrifying cost of
insuring for the first time. I know plenty of people who insure with their parents as the first driver, something my mother had even done for my brother, but I wanted to be the main name, and my distance from my family home made it a bit worrying on my mum’s end to not know if I was driving like a loon.
I am getting better at recognising my shortcomings and coming to terms with the fact I am really not all that great with money. As well as making decent progress to saving the amount of money I had planned – although it will most likely all be used this September to renew my car insurance and road tax. As long as I can get into the habit of saving for the sake of it and not for something coming soon, I hope to have better financial practices as I enter my last years of university before graduation as I won’t have the student overdraft to rely on anymore!