My Budget Review Q1 2008

As today marks the start of the new tax year I thought it would be appropriate to review my spending for the first 3 months of this calendar year.

Overall my spending so far on essentials (i.e. Rent, Bills & Food) is £8 over-budget as inflation is countering all my money saving attempts that I have posted about on here. However if I had not taken these actions in the last 3 months then I would have been £68.19 worse off so I am still counting those towards my total.

My discretionary spending (i.e. everything except for the essentials) is £158 over budget largely due to problems with my car costing me £574 during the quarter. This is actually quite pleasing as without the problems with my car I would have been under-spent so I am hopeful that I can make this up during the rest of the year.

One of the problems I highlighted when reviewing my 2007 spending was the £798 that I had categorised as misc throughout the year and had no clue what it was come the end of the year. So far I am pleased to report that I have absolutely nothing in misc so I now know exactly where I have spent all my money!

In summary I think I have made some good progress and am confident that if I continue like this I will be under-budget come the end of the year.