Happy Sunday everyone 🙂 it’s the last day of July, how did that happen?! This year is absolutely flying by and our little boy will turn one next Sunday, which is so hard to believe. July has been a bit better in terms of the weather, and we’ve managed to get out and about a bit more which has been nice. I’m hoping that August is just the same so we can explore some more!
In terms of our finances, July has ended up being a very positive month in terms of our goals and long term plans. As June went reasonably well as well, I think that means I am definitely finding a new balance with our reduced family income and managing to save and invest too. We did have a couple of one off payments in July, such as our house insurance, but those are planned spends which are taken into account when we plan our budget.
My Financial aims for July were:
– Have 20 No Spend Days (NSDs)
– Overpay our mortgage by £100
– Put £600 into savings
I don’t know what has happened to me lately, but I can’t seem to get a handle on my NSDs at all. I don’t know why! I truly believe that they are an essential part of our budget, but July sees another month where I haven’t met my target. And I know that all of these little spends add up, especially over time. I really do need to get a grip! I managed a lowly 12 NSDs in July, which is one of my worst months EVER. Not impressed with myself, that’s for sure.
Moving swiftly on to my next aim, which was the mortgage overpayment. I mentioned in June’s post that I needed to make a more concrete overpayment aim each month otherwise it just slips into the background and ends up being rather small. As being mortgage free is part of our long term plans, plus it’ll save us lots in interest, it still needs to be a focus, even if it is a smaller focus at the moment. That being said, I still went for three figures this month! And, as I was more focused as I had an actual number, I managed to beat it. In July, I overpaid our mortgage by £115.72! That’s definitely more like it and hopefully I can sustain numbers like this for the rest of the year.
Finally, our savings aim. Again, after meeting our June’s target savings amount, I decided that I would keep the number the same, but secretly was hoping I would go over this. And I have! In July, I have managed to save £883.05 which is fantastic. Even though I didn’t meet my NSD target, all of those little spends haven’t made too much of an impact on my savings, which I’m relieved about. Someone commented on another aims thread and asked why I didn’t just set up a standard amount each month to be transferred to savings and leave it at that. The reason I don’t is that our income fluctuates each month and, to be honest, I like adding different amounts here and there; just having an automated payment wouldn’t be as interesting!
My Personal Aims For July were:
– lose 7lbs
– continue to declutter things from our home
– finish decorating the hall and staircase.
My dieting has not been quite so on track this month, as I have struggled with not giving in to temptation! I have only lost 3lbs this month which takes my total weight loss so far to 10.5lbs which isn’t too bad, but needs to get better! My challenge to lose thirty pounds before I’m thirty in December is also ticking by, and I’m conscious that I’m behind in that. However, it’s still going in the right direction so I’m not complaining 🙂
We are continuing to declutter things from our home, albeit very slowly. We have just enquired about donating a sofa bed that we no longer need to a local charity, which will make a lot more space in our home. I have a couple of things listed on eBay and continue to look at things that I can sell/donate/throw out so we can continue to live a more simple life.
The hall and staircase still aren’t finished. I should stop putting this as an aim :/
One final note, the top three posts on The Frugal Cottage during July were:
So, July is over, and what a month it has turned out to be. I’m looking forward to seeing what August brings!
How was your August? Have you hit your aims? I’d love to hear about it!
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Having a 1-year old is probably the reason why you’re struggling with NSDs. Kids always seem to need something. It;s a good thing they’re so cute 🙂