Year-Round Budgeting

Howdy Friday Peeps!

Mr B and I have been discussing finances and work type stuff a lot recently (partly because he’s on reduced hours while they figure out what to do with him and his Meniere’s disease).

So we’re starting to look more long-term, well mid-term… I dunno, let me explain: Up until recently, we had a set monthly budgeting routine of paying and checking and saving- for one or two long-term goals. Last month we sat down and worked out a way to wiggle a bit more into our savings (see Different Saving StylesFinancial Check-Up and More Ways To Save if you’re interested in doing this too).

We have closely monitored our monthly ins and outs ever since we ditched the credit in 2011 and have a rough idea of when and how much annual bills are (like the car MOT and such). We have recently discovered that all our one-off and annual bills fall between November and April, so that means from May to October we have more money available for savings, goals and treats. 🙂

This is so helpful as it allows me to plan for birthdays, weddings and early Christmas shopping. We also have a goal for next summer that requires some savings and we don’t want to touch our emergency fund for it, so this summer we can save towards that goal and actually do it May (or after) next year when all the big bills are paid. So we have a time frame and time to save, which will make our dream more attainable.

So maybe you have a goal that needs funding…I suggest you go and look at your annual budget and search for patterns of quiet and busy months for bills, birthdays and such… you may just find a month or 2 where you can make it happen (or at least make a good dent in the sum needed).

Happy scrimping my lovelies!

Anna x

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