Let’s Talk Money


I’ve mentioned before on this blog that I used to be terrible with money.  I used my credit card like a second bank account and I was always in my over-draft by the end of the month.

Fast forward to 2017 and I now manage to save 51% of my income and I’ve stopped filling my home and wardrobe with items that I do not need.

I’ve managed to do this not only by practising minimalism but by setting myself a monthly budget for EVERYTHING.  I pay monies into my savings account first before I budget out what I have left.  When I first started doing this I had to work out what the minimum amount of money was that I could live on and then made the decision that I would save the rest.

It took a few months of recording what I was spending my money on, analysing it and working out what was necessary and what was a waste of money.  I knew after these first few months what my budget would need to look like and realised that I could save some serious money for my future.

I don’t feel comfortable sharing information about the figures but I thought it might help others if they see exactly what I budget for in a month.  Not every item listed is used every month but these are the items in my template.  For example if I know tax or an MOT is due for my car I’ll add a budget for this for that month and adjust something else.  There are other ways to budget that may suit you better I.e create a budget for the whole year but as I have been building an emergency fund I find I can set a budget just for the month in hand.

First up are household bills.  These are committed costs and are the first thing I budget for.



Electricity / Gas

Council Tax



Water Rates

Car Insurance

TV License

Contents Insurance

Next is savings and an emergency fund.  The main reason I need/want to save so much of my income is to facilitate buying a house.  We’re hoping we can do this by the end of this year.  I’ve also been putting a small amount of money into an emergency fund for just in case situations.


House Deposit

Emergency Fund

The rest speak for themselves really but notice what I have left till last (Life, etc).  This is where the room for changing my monthly budgets comes from.  What I have available for entertainment and gifts for others completely depends on my other expenses for the month. 



Work Lunches





London Travel, Taxi’s

Tax, MOT, Service


Personal Care



Gifts – Bdays & Xmas


I don’t budget for holidays at the moment as we don’t have any plans for booking anymore this year.  This year is all about saving for a house deposit and that’s okay with me.  We already have a long weekend planned in New York in June and a long weekend on the Isle of Wight in May to look forward to!

How do you budget your income?  What financial goals do you have right now?


5 thoughts on “Let’s Talk Money

  1. jessicaconstable says:

    The main thing on my mind right now is paying off debt. I’ve always been really good with money (if I don’t say so myself) but I still lived a consumerist lifestyle. Since falling for minimalism and also taking a year out of sorts, I’ve become more aware of what a burden debt can be. At the moment I have student loan debt (that gets deducted from my salary when I earn about a threshold), my mortgage and £1000 on a 0% credit card that finished up this month. I will pay this off with savings (I used the credit card as a ‘stooging technique’ (gaining interest on savings while having a 0% loan)). I plan to go back into regular employment soon and will definitely be more conscious of putting aside savings and corroding debt.


    • reynoldsmade says:

      Hi Jessica, good luck with your debt repayments. Debt is such a heavy burden so hope you break free soon! I also found minimalism really helped me with spending habits and they kind of changed automatically the more I developed minimalism. I wouldn’t like to be without an emergency fund now as you never know what’s around the corner. Good luck going back into regular employment 🙂 x

      Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s