Budget With Me March Update | Budget with Irregular Income | Self Employed Finances | Sparrows End
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Hi my loves! Just a little catch up so you can see how I’m doing making the money I need for April. Now don’t e telling me off about my shocking number of eBay listings 😉 I have done plenty more since I recorded this 🙂
Have a wonderful weekend and I hope your financial progress in March has been good x
I’m loving your budget videos, (lovely nail varnish btw!) I always keep a monthly budget, my problem is overspending in certain areas, particularly clothes and food, I really need to work on my self-discipline! I do wonder if allocating myself some ‘spending money’ like you do, would help, or maybe I’d see it as a licence to spend it all instead of trying to save any extra cash I have!
Are you still planning on doing some more Woolly Truckle videos in the future, along with your budget and inner circle series?
Thanks 😊 I will have to record my next one soon! I don’t use sinking fund categories or anything like that because if I allocate £50 to clothing a month then I’ll spend it whether I need any clothes or not 🙈 The way I manage my money as a self employed person is going to evolve I think as I work out what’s best for me.
And yes, def more Woolly Truckle vids but they take longer to prep and I want to start on the tutorials next!
Hi, wow!! I know we overspend on groceries and toiletries (£100 plus a week) but I can't see anyway of reducing it.😕 there's 3 of us including a teenage boy. I would be interested in seeing a video on how to get by on so little. X
I’m so baffled that people don’t think we spend much 😂 It was only about £180-200 when I was at work so I’ve only cut it down slightly. We don’t include wine or beer in groceries as that comes out of spending money. I am def going to find a way of showing how I go about planning our grocery spend!
Thanks for your reply!
I cook from scratch mostly too, yet I spend more. I was thinking I buy a lot of fruit and tend to buy expensive yoghurts, but would love to hear more about what you buy & what you cook.
Hi Rosemary, like I said in the video I am going to try and find a way of showing my grocery spend. I think the crux of it is that I buy in bulk and cook nearly everything from scratch, but I don’t know that for sure because I don’t know what other people do!
Hi again Mel, I'm the one that made the comment last time on pensions! I notice that you use the term profit when you seem to be referring to turnover or possibly turnover less eBay fees and postage but not taking into account cost of goods sold? So really more cash flow rather than profit? I appreciate that your cost of stock is a sunk cost, but you do need to replenish and hopefully build your stock to generate future income, especially for the end of your gap year. I appreciate that these videos are about personal budgeting rather than business budgeting, but are you allowing separately for working capital in your business?
Hi Andrea - the eBay money I’m referring to in these videos is purely the profit after fees, P&P and buying stock - all of that is dealt with in a separate account. If you watch my latest eBay sales vid you can see my spending on stock comes out over there and all that comes into my personal budget is the profit 😊 So when I say in this video that I am on “X” amount of money I am referring to profit not turnover. I spend about £200 a month on stock even though I don’t really “need” anymore right now (😂) to ensure that I am still building it up month by month. Hope that helps! Thanks for watching 😊
Well, I want to finish my eBay planner and see about selling that, well, put out some free sample pages so everyone can use some of it but then put the whole pack up for sale. I’d like to then do a budgeting one too eventually.... so watch this space!!
We already have that separately 😊
I think I talked about it in the first budget vid. And oh my word I couldn’t think of anything I’d be less suited too 😂😂😂 You have to be accurate and careful to be an accountant and I suffer from messy brain 🤣 Thanks for watching!
You know I like your budgeting videos!
I agree you shouldn't feel guilty for spending your money how you like. I certainly don't.
I do feel resentment though for those things that I HAVE to spend money on. Mainly electricity. I've been thinking of investing maybe £1000 a year into a Solar system, and yes that might be double what I would spend but it would mean getting to the stage where I no longer have to hook up to the grid faster.
I just had a look at my groceries for the week and somehow I'm at £100 for the month so far, and what I have can easily last until the end of the month.
The bad news is that my car went bang. So I'm expecting a bill between £400 to £800... sad times.
Thanks for a cool video, I do find you and your videos inspiring.
If you are planning on staying in your property for a long time then solar panels can definitely be a good move. One of my friends who considers herself in her “forever” home has done this and I think they are now at the tipping point of generating enough for their household....
I deduct it from my profit. So if you watch my latest sales report you will see how I spend about £200 on stock per month and I deduct that from the profit. Anything that comes into my personal budget from eBay is the money I have made after fees, P&P and stock purchases. Hope that helps!
I 100% do not want to do reselling full time!! I am really happy to continue it two days a week though. I think I am going to extend my break and continue to work on my other projects and try to turn them into businesses. As long as I cover my bills I can extend my gap year!
I’ve always divided my savings and investments into short, medium and long term so pension has always been in the long term bracket. Time passes so quickly and if I’m lucky and stay healthy I will be at retirement age in the blink of an eye 😂 Whatever you contribute to a pension when you are younger pays you back so much more 20-30 years down the line. I’m sure you will make some good financial decisions about it that are right for you 🙂
Great video Mel as always. I need to get my budget on track especially the grocery bill. Its good to see how other people budget and manage their finances and hopefully I will be able use a few of your ideas to save myself some money and hopefully cut down on my unnecessary spending. I get home from the shops and ask myself "why did I buy that". Have a lovely weekend and I look forward to your next instalment.
Well it’s all a bit all over the place at the moment. Budgeting with a fixed income is a much simpler beast 😂 I’m just feeling my way with a variable income, but I think I’m getting a grip on things gradually. The psychology around money mindsets is a fairly new area but interesting things are coming out of the research about our attitudes and how it affects our spending and saving etc.. Thanks for watching 😊
I think it shows what can be achieved whilst pootling along and growing something gently and slowly which I am all for! Very interesting business idea - something to think about, though I suspect I have enough on my plate with all the other things I’m trying to fit in! It definitely feels like I’m inching towards something but heaven knows what 😂 I’d like to do a bookkeeping course for my personal satisfaction if nothing else. Thanks for watching and giving some interesting food for thought 🙂
I feel more motivated and more in control this month - not that I was out of control 😂 but perhaps I mean that I feel more like I’m leading than being led 🤷🏻♀️ I don’t know how to describe what I mean 😄🤣
Definitely! Ours is under £150 and that’s with some “treat” foods and unnecessary extras and some branded items too. Cooking from scratch makes the biggest difference for us because I can rustle up a delicious pasta sauce for pence 🍝😁
This article has been motivated by a response I gave to a problem raised on an Oracle developer forum. Our requirement is to produce a report that details customer spending for each month of the year. Our database only records actual spend, so for any given month, data for dormant or idle customers will have to be generated.
First, well create a mock CUSTOMER_ORDERS table with sparse data to represent customer spending. To keep the example simple, well denormalise the customer name onto the orders table.
a sparse report.
With our customer orders data as sparse as it is, a monthly report for purchases by customer would look as follows.
adding the missing months.
We can see from the data that we are missing most months of the year for our two customers. Remember that our requirement is to show a report for every month in 2004 for every customer. First we will build a "time dimension" set (using subquery factoring) and outer join it to our orders table.
We can see that this hasnt quite worked. We have the zero sums and the year-months, but we are missing customer names. This is because we outer joined to CUSTOMER_ORDERS on the year-months, so any customer columns would show as NULL for deficient rows. Until PARTITION OUTER JOIN appeared in Oracle 10g, we couldnt "invent" data easily , though the next section shows that it is possible in prior versions.
data-densification without partition outer join.