Life After Debt

Hello, friends!

It has been a while since my last post. I guess I needed a break from the blog as managing it took a lot of my spare time and at some point I decided I wanted to spend that time on something else, namely my new relationship 🙂

It has been a year since I met my partner and a little less than a year since we moved in together. I paid off my debt in December 2014 and have been debt free since then. I have built a small cushion of cash to fall back on if there was ever a need. However, I have not really been tracking my spending for the first six months of 2015, and I must admit I could have saved so much more had I been keeping a closer eye on my outgoings.

We have recently moved into a spacious one-bedroom flat in south-west London. Our rent is much higher in comparison to what it was when we were renting a room at our friends’ house in the same neighbourhood. I love it being just the two of us in the flat and having the whole place to ourselves, but there is a price to pay… our rent including utility bills is approximately £1,500.00 per month.

When we first moved in, I was very eager to decorate our new home and make it homely and welcoming. I bought a few bits and pieces for our new home, including new plates, cups, glasses, cutlery, blender, and a few home décor items (candle holders, sofa cushions, tablecloth to name a few), and in the months of June and July I spent a total of £398.22 on these things!

I have not been paying close attention to our food and entertainment budget either. We go out for dinner once a week; we order takeaway occasionally; we spend on tickets to the opera, cinema and musicals; we take day trips around the UK and travel abroad too. When we go food shopping, we choose convenience over anything else, so we go to the closest grocery shop which is not by far the cheapest grocery store in town.

Don’t get me wrong, we save quite a bit of cash each month as both my partner and I have (what I consider to be) well paid jobs but we could be saving so much more if we were monitoring our spending more closely. So this is one of the reasons I have decided to start blogging again. You guys have been so wonderful and supportive while I was paying down my debt, blogging here really helps me stay accountable.

I am still in the process of creating our budget for this year as well as thinking of best ways to track our spending. I mean, it was much easier to track my spending, but now I also have to track my partner’s spending, and because he likes paying with cash as opposed to a debit/credit card, this can sometimes be quite challenging.

How do you track your household spending? Do you have combined finances with your other half? I’d love to hear your thoughts.

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10 Comments

  1. I’ve found budgeting after getting out of debt to be a little difficult too! I’m much more likely to splurge now and say Oh well I’ll save more next month to make up for it. That doesn’t always happen though. I’ve been budgeting on everydollar.com for the past 3 months now and it does seem to help. It’s free so you might give that a try if want to budget online. Best of Luck!

    1. Thanks for the suggestion Terra, I will definitely have a look! I feel incredibly happy to be able to keep my whole salary without having to allocate anything to debt, but it’s easier to also spend a bit more than necessary… As of September though, I am putting a stop to this, it’s time to start saving, saving, saving 🙂

  2. Glad to see you blogging again! I am going to start blogging about how I am saving to buy a house! I think its a great idea to write things down when you are trying to save money!!

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