After the touch of reality reflected in the last post — how my over-spending and wastefulness was contributing to an unsteady financial future w/r/t buying a new house — I was already feeling a touch the poorer. So as you can imagine, when my accountant (well worth the spend) did my tax return for the ’15-16 tax year a couple of weeks ago, you could say that the paperwork hit me like a ton of bricks.
I knew the tax bill was incoming, but I’d been ignoring the potential size of it (especially since I blew my savings on a website) and holy shit was that a mistake. With tax owed, tax on account for the ’16-17 financial year and accountant fees I suddenly had just over two weeks to find £3,000. And here I am, a couple of days from the dreaded tax deadline, and I’m only able to pay off the back of a loan from my husband and a big credit card bill. (I am a responsible adult, honestly.)
So… up shit creek without a paddle I sat down and thought to myself: my ‘half’ of monthly expenditure (household bills, mortgage etc) is about £750. I make plenty more than that each month — certainly enough to live comfortably and be putting money aside for tax bills! — so why am I sat here in such a terrifying position? Where the hell is all my money going that I constantly in my overdraft and only have £9 in my ISA to pay my tax bill?
Wine and eating out and frivolities, yes… but that doesn’t eat through hundreds of pounds a month in income, surely? (Even with my wine consumption levels?!) To Excel!
I started adding up all of the yearly expenses that aren’t on my basic month-to-month budget. Hosting bills, domains (again!), WordPress plugins, memberships, magazines, software and SAAS ‘apps’. I’ve not finished logging and I’ve already totted up over £3,600 worth of yearly expenditure which totals over £300 per month. Start adding wine and eating out and frivolities to that and it’s not too hard to see where my income is going.
It’s an easy trap to fall into: pay off an expense in one lump sum, and forget it exists until next year. But it does exist, and it is chipping away at the money I could be using to pay off debt and my mortgage. It’s no wonder I’m up shit creek when I’m easily spending nearly £4k a year on things I don’t give a second thought to.
Am I the only one this disorganised? How many people actually have a handle on their irregular / yearly expenses? It’s probably about time I started using YNAB again…
Feels like ages since I’ve talked about budgeting, and for a reason… with excess spend on frivolities, a loan to pay off two credit cards one of which I didn’t close and am steadily filling back up, an expensive honeymoon (which I barely contributed towards) back in October 2016 and the increased cost of US-based […]
Off the back of my post about plans for 2017, and following a conversation with my darling husband last night during which I got defensive more than once (even though he spoke the truth) I woke up with fire in my belly. Taking advantage before noisy children and the realities of my todo list extinguish […]
…to 2016, that is. I figured as I only blogged once in December 2015, and that was to moan about catastrophe upon catastrophe, that I should try and out-do myself this December while I still have time and blog twice! Go me. Getting it in at the last minute (ooer) has long been my style, […]
I was going to answer my AMA questions in the order they were asked, but having not long come out of a pretty rough few days or so I figured now would be the perfect time to answer Kelly’s question: What gets you out of a funk? The reality with PMDD, which is the root […]
There are many ‘obvious’ elements to Stardew Valley that took me an incredibly long time to notice/learn. Hopefully by noting down some of the bits n bobs here, other players will catch on quicker (and other players can fill in gaps!) — Stardew Valley, drawing inspiration from classics such as Harvest Moon, is an open-ended […]
So, the first (proper) question in my recent ‘AMA’ was from Melissa, who asked: Can you provide a comprehensive list of all your animals with names + types + breeds? And also how you manage your litter box organization! ^_^ Now, there should be a page for this, but every time I work on my […]
Once upon a time I spent many, many hours imparting my wisdom on a range of topics – from web development to security, breastfeeding to working from home as a parent and a huge variety of things in between. Unfortunately I seem to have got sucked into using my blog as an outlet for my […]
That’s it. The milestone I was dreading has come and gone. We have a lot of ‘seven’ left to go, but that initial mountain has been climbed and conquered. Not made any easier by the organisation of the birthday party, because some bright spark thought that’d be a great idea. For some reason, when I […]
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My daughter turns seven years old on Monday. It’s a milestone I’ve been dreading for some years. Seven years old. I have organised a party. A disco with music and lights. I’ve bought glow sticks, I’m making a buffet and building a rainbow My Little Pony layer cake. I’ve told her to invite all her […]
I travelled up to Leeds with Gaz to see my brother at the weekend, figuring I should probably make the effort as we’re getting close to C.. Chr… nope, can’t say it. We celebrated our mutual awesomeness by booking a meal at Fazenda, a Brazillian Rodízio style restaurant. In case you have no idea what […]