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Budgeting score – August

19 Nov

As these posts are all going up with short gaps between, there’s not much pre-amble to go through.  So here’s the figures:

Essentials Lifestyle Savings
Target score: 50% 30% 20%
Actual score: 65.6% 33.2% 1.2%

Yeah, that’s looking pretty bad, especially compared to the success I had during the last couple of months.  As you’ll see in the upcoming posts, this is a trend that didn’t really go away until mid-October, which is when I finally got around to writing up these reports again.  Essentially what happened at the very start of August is I received some quite worrying news.  What the news was isn’t relevant any more, but what is important is what happened next.  As part of my reaction I spent some money on several things which seemed very important at the time, but I hadn’t budgeted for in any way.  At this point it seemed so important that I put my budget on the back-burner for a while so I could focus on this new task, which resulted in me not keeping an eye on my bank statement and not paying any attention at all to how much was left in my piggybanks.  In the end, I went back to my bad habits of spending almost every penny I earned.

Those things I bought ended up not being quite as important as they should have been, and while they weren’t bad purchases as such I didn’t approach them in the sort of rational mindset I should have done.  If I’d spent more time looking, I could have gotten some of these items for far less than I ended up paying for them.  One of these items was an exam with a fixed price that I couldn’t get cheaper anywhere, but did have a lot of studying that I hadn’t yet done, but I was determined to try to fit in while in the remaining time I had.  Unfortunately while you can make plans to study for X hours a day and cover a certain amount of material by certain dates, this doesn’t always work out.  In the end I came pretty close, but just fell short of the passing mark.  If I’d left this until I’d already studied a significant amount of the material I’d have had a more realistic idea of how long it would take and how ready I was, which would have ideally resulted in a passed exam, but could have also ended with me re-evaluating how likely I was to pass it and putting it off until a later date.  Definitely some hard lessons learnt here, and it’s unfortunate that they took my attention away from my budgeting to the point where it took me nearly 3 months before I started to get back on track.

August’s final score:

0/10 – Fail

Past scores:
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Posted by on November 19, 2014 in Budgeting, Self-Improvement

 

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