Friday 4 February 2022

February Budget | Low Spend Month

I have been watching Tania Michele's cash budgeting youtube videos for around a year now, and last year I decided to invest in a cute pink envelope binder! I started well and had about £130 in it by my birthday. Unfortunately I ended up spending it all on rubbish from the corner shop. Oops.
This year, I have decided I'd like to start again! With a slight difference. I have decided that throughout February I will not do any online shopping at all, and I won't use my debit cards! Excluding my bills/direct debits. I currently have two bank accounts, and I have enough in one of them to cover all my February bills. 

February Bills

  • Netflix £10 - changed membership from 4 screens to 2
  • Phone £24
  • Disney+ £8
  • Amazon Photos Video Storage £1.49

My other account is what I use for my wages. After paying off everything I owed and doing some impulse spending after pay day - Easter eggs for 99p, anyone? - I had £650 left in there. I decided to withdraw £200 and that is all I can spend in February! I do actually still have some gift vouchers left over so my full budget for February is £250.

I did actually intend on treating myself to getting my nails done and my hair cut (and potentially coloured) this month, but I'm more than capable of doing my own nails and maybe I can swing a way to get a cheaper hair cut. I did really want to try a No Spend Month again but I did really struggle to stop my impulse buying, so I thought a Low Spend Month would be easier. By getting rid of all my shopping apps and freezing my cards, it won't be so easy for me to impulse buy! I'll actually have to physically go to a shop when I need things and I only have £250 to last me a whole month.

I don't need to do any birthday shopping this month and Josh and I have decided not to do Valentines, so my budget is actually higher than my "need to buy" list. Currently I don't think I actually "need" to buy anything! 

Part of me is absolutely dreading this challenge but I'm also really excited! I really hope I can stick to my cash budget this month and ideally have some money left over for March.

Wish me luck!

Until next time,
Saph x

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