My Budget Review Q4 2008

When I wrote my last quarterly review of my finances the FTSE100 stood at close to 5000 points, little did I know within a matter of weeks it would drop by 24% as the world came to terms with a global recession. But closer to home, how did my own finances fare during this period of economic turmoil?

My spending on essentials (i.e. Rent, Food & Bills) is £110 under budget however this includes the £11.72 per month savings I have already made switching broadband provider. So after taking this into account I am actually £75 under budget.

My discretionary spending (i.e. everything except for essentials) was £636 under budget, which includes £247 earned from betting refunds that have already been included in my total earnings. I’m very pleased to have come in £94 under budget on my Christmas spending as I put a lot of effort into planning what I was going to get and then searching both the high street and online stores to find the best price.

So in total over the year I am £1009 under budget. However, I’m not going to be adding this to my MillionaireAdventure total as I have been putting off getting a new clutch for my car, which along with ever increasing costs of living will significantly dent this saving.