So April proved itself to be a far from perfect month, spending wise. I spent money on a few too many treats for myself and in all just was rather irresponsible for my money.
When I sat to think about the money I had spent on myself ‘willy-nilly’ throughout the month, I thought back to when I was younger, and I would make my £20 a month pocket money last all month.
I would be so selective on what I spent money on as I knew that once that money was gone, I would not be able to buy anything else.
I had friends at school who would get crazy amounts of pocket money, I can think of one friend that I had when I was about 13, that would think nothing of going down to Boots on a weekend and dropping £50 on a perfume. (?!) What 13 year old needs a £50 perfume?!.. I was quite happy with my Impulse body sprays. I remember the first perfume that I bought with my own money, I felt so fancy and sophisticated wearing my Versace Red Jeans that I spent £10 on. I digress.
So I want to set myself a challenge for the month of May. Starting at 12:00am on the 1st of May and ending at 11.59pm on the 31st, I want to set myself a ‘pocket money’ challenge. Where I give myself £20 for the month to spend on fun items.
Of course I’m an adult now and there are bills etc to pay, so I’ll still pay those. But as far as personal spending on items that I really do not need… There is a £20 cap on that!
Here’s a list of things I will still spend money on where needed:
- Phone Bill
- Council Tax
- TV License
- Exercise classes (I go to one a week totalling £10 a month, maybe this should come out of my £20, but I figure this is a regular expense, and it’s for my health, I don’t want to compromise on that.)
- Car Tax
Apart from those items listed above, any ‘luxury’ item either needs to come out of my £20 allowance and or I need to move on from and live happily without it.
The truth is, there is nothing I need, only things I want. And I need to reprogramme my mindset. I want to lay good financial foundations for my future, and I think learning that it’s okay to not buy everything you see and like, and that saving money is the right thing to do. My future self will thank me, I’m sure of it!
Is anybody else up for the challenge? I’d love to have an accountability buddy if I could! Leave a comment down below or tweet me @emilybridger
Until next time!