This has been The Quarter of Paying for Expensive Holidays. I’ve had a look at the past few years’ savings and expenditure record… there’s a pattern emerging.
I start out the year with the best of intentions and a bit of a spending hangover from Christmas. Ski trip costs usually hit the first quarter, but frugal living in all other areas kind of balances it all out. Q2 is the best – I book flights for summer holidays (with Avios) and pay deposits for summer holidays where required (not a lot), and that’s about it.
And then I reach Q3 and fall off the wagon. This year has been especially bad. I’m not buying any stuff, but I have managed to more than compensate for that by spending on consumables and experiences – restaurants, booze and travel. Oh well.
In other news, I’ve met someone new. I probably should be knocking on wood as I type this, but anyway, I
think hope this one could be it.
Savings rate: 60%
The actual year to date average is 61%. Pass.
Property wealth: overpay mortgage by £20k
Not going to happen. Fail.
Pension wealth: use up all available allowance
Financial wealth: Emergency Fund & Freedom Fund
The goal was to top up the Emergency Fund to £30k. Done.
Continue with regular savings into the S&S ISA. Also done… So it’s a pass.
Tax: pay no more than £25k of income tax in 2017/18 tax year