Before we begin, I’d like to clarify that I currently live at home, which means I don’t have to cover expenses like rent, utilities, or council tax. I understand that not everyone is in the same situation, so please consider this post as a general guide, and choose the tips that best suit your circumstances. Now let’s dive into how you can transform your budget routine.
As a recent university graduate who has transitioned into the world of corporate 9-5 work, I was determined to avoid falling into the financial traps that many people encounter, such as overspending or living paycheck to paycheck. Before I started my job, I took some time to set clear financial goals I hope to achieve in the next couple of years. One of my primary aspirations is to enter the property market, and this is the driving force behind my commitment to adopting effective budgeting strategies.
setting financial goals.
Before embarking on your budgeting journey, it’s crucial to establish clear financial goals for yourself. The more specific your goals, the better. Alongside each goal, indicate whether it falls under the category of short-term or long-term objectives.
Simi’s financial goals:
- Put half of my salary into my savings each month- short-term
- Pay £200 into my emergency fund each month- short-term
- Pay off my credit card in full each month- short-term
- Put a down payment on a property- long-term
tracking income.
Whether you receive a consistent fixed salary or one that fluctuates, it’s crucial to ensure that the amount deposited into your account aligns with your payslip or invoice. Human errors can occur, so it’s wise to double-check and confirm that you’ve been paid the accurate amount.
With the assurance that your payment is accurate, it’s now time to begin populating your budget spreadsheet. Regardless of whether your income is derived from multiple sources or solely from your 9-5 job, include all your income streams in the spreadsheet.
tithes.
After receiving my paycheck, I make it a priority to allocate 10{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my income to fulfill my tithing commitment to my church. This practice holds significant personal importance to me.
savings and emergency fund.
Upon receiving my paycheque, my initial move is to allocate funds for myself – no rocket science here. I’m fortunate to set aside a solid 50{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my monthly earnings. I make a monthly £200 deposit to max out my emergency fund, leaving the remaining half for my long-term savings in my trusty Vanguard account.
Now, let’s talk about that emergency fund. Maintaining a safety net equivalent to at least three months’ worth of expenses is akin to having a personal financial guardian. Around this time last year, my laptop unexpectedly decided to pack it in. No worries, though, as I was able to dip into my emergency fund to secure the funds for a brand-new laptop. It truly was a financial lifesaver!
Events that you could use your emergency fund:
- Car breaking down
- Water spilt on your laptop
- Boiler breaking
- Sitting on your glasses
As a dedicated fashion enthusiast, I make it a point to allocate funds to my Luxe Fund every month. This Luxe Fund serves as a treasure chest where I gradually accumulate money, setting my sights on significant purchases like luxury handbags, exquisite heels, or other fashion items that have captured my attention.
Finally, I consistently contribute to my travel fund every month, given that my boyfriend and I are navigating a long-distance relationship following my graduation. To ensure I have the financial flexibility to visit him and enjoy our time together, I allocate funds for flights and spending expenses.
debt management.
Now, let’s turn our attention to managing any outstanding debts, like credit card balances and student loans. If you’re dealing with substantial deposits, it’s wise to prioritise paying off the debt with the highest interest rate first.
fixed monthly expenses.
Next, let’s take a moment to record all your essential monthly expenditures – things like rent, utilities, groceries, fitness, and your phone bill. I find it helpful to do this, especially because I prefer to consolidate many of my fixed bills on my credit card. This approach gives me a clearer picture of what my monthly credit card statement will look like.
Since I commute to work twice a week, I also allocate around £100 each month to a separate bank account (in my case, Monzo) for travel expenses. I keep this travel fund separate because it acts as a safety net, ensuring I don’t accidentally dip into it for other expenses.
variable monthly expenses.
As for managing variable monthly expenses, I find it beneficial to set a fixed limit that I must not exceed. My variable expense categories encompass things like shopping, nail care, self-care, and transportation. If you’re just starting out with budgeting, it’s quite common to occasionally exceed the budget you’ve set for yourself. In such instances, it’s important to be kind to yourself and make an effort to either enhance your budgeting discipline in the following month or make adjustments to your allocations, so you can achieve your budgeting goals in the months ahead.
creating a budget.
For crafting my budget, I’m a fan of using Google Sheets, but I’ve also recently acquired a finance tracker on Notion (I’ll keep you posted on how that goes!). You’ll find an abundance of free budgeting templates on platforms like Pinterest, TikTok, and YouTube, which can be incredibly handy.
I typically update my budget once or twice a month, usually on payday, and sometimes I do a mid-month check-in if it crosses my mind.
As I allocate every last penny, I ensure that no money is left unaccounted for. Every cent has its place in my budget!
lifestyle adjustments.
I actually took a bit of an unexpected route. During my university days, I was extremely cautious when it came to spending on myself, perhaps a tad too much. So, now that I’m in the workforce, I’ve aimed to strike a balance by treating and taking care of myself (while staying within reason, of course). My motto these days is, as long as it aligns with my budget, I’m more than happy to swipe that card!
accountability and transparency.
My mum has been an incredible teacher when it comes to personal finance and budgeting, and I turn to her with my endless array of questions – she’s basically my personal financial guru! I also devour a lot of financial education content on YouTube and TikTok, as there’s always something new to discover and learn. It’s fascinating to hear about how individuals from various age groups and professions handle their budgets. I usually cherry-pick the strategies that suit me and my unique lifestyle.
credit card transparency.
I just recently dipped my toes into the world of credit cards, and I’d recommend getting one only if you possess a high level of discipline and/or are keen on reaping those points. When it came to selecting the right credit card, I dove into extensive research and watched a ton of informative videos on platforms like YouTube and TikTok.
Living here in the UK, I eventually settled on the British Airways AMEX card. The reason behind this choice is the ability to accumulate points that can be used for British Airways flights, which could be a game-changer when booking those flights to visit my boyfriend!
If you’re interested in getting the British Airways American Express Credit Card, you can collect 6,000 BONUS Avious points when you spend £1,000 in the first 3 months!
what happens to any money left over?
Should I find myself with any surplus funds at the end of the month, I happily funnel them straight into my Vanguard account. There’s a certain thrill in ensuring my account balance reads zero just before the next paycheck lands in my account, marking the beginning of my budgeting routine all over again!
check these out:
A twenty something year old, obsessed with all things design, organisation. want to learn more about me, click here.
Simi's fave resources
My Projects
TEMPLATE CUSTOMISATION
CUSTOM WEBSITE
WEBSITE AUDIT
Before we begin, I’d like to clarify that I currently live at home, which means I don’t have to cover expenses like rent, utilities, or council tax. I understand that not everyone is in the same situation, so please consider this post as a general guide, and choose the tips that best suit your circumstances. Now let’s dive into how you can transform your budget routine.
As a recent university graduate who has transitioned into the world of corporate 9-5 work, I was determined to avoid falling into the financial traps that many people encounter, such as overspending or living paycheck to paycheck. Before I started my job, I took some time to set clear financial goals I hope to achieve in the next couple of years. One of my primary aspirations is to enter the property market, and this is the driving force behind my commitment to adopting effective budgeting strategies.
setting financial goals.
Before embarking on your budgeting journey, it’s crucial to establish clear financial goals for yourself. The more specific your goals, the better. Alongside each goal, indicate whether it falls under the category of short-term or long-term objectives.
Simi’s financial goals:
- Put half of my salary into my savings each month- short-term
- Pay £200 into my emergency fund each month- short-term
- Pay off my credit card in full each month- short-term
- Put a down payment on a property- long-term
tracking income.
Whether you receive a consistent fixed salary or one that fluctuates, it’s crucial to ensure that the amount deposited into your account aligns with your payslip or invoice. Human errors can occur, so it’s wise to double-check and confirm that you’ve been paid the accurate amount.
With the assurance that your payment is accurate, it’s now time to begin populating your budget spreadsheet. Regardless of whether your income is derived from multiple sources or solely from your 9-5 job, include all your income streams in the spreadsheet.
tithes.
After receiving my paycheck, I make it a priority to allocate 10{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my income to fulfill my tithing commitment to my church. This practice holds significant personal importance to me.
savings and emergency fund.
Upon receiving my paycheque, my initial move is to allocate funds for myself – no rocket science here. I’m fortunate to set aside a solid 50{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my monthly earnings. I make a monthly £200 deposit to max out my emergency fund, leaving the remaining half for my long-term savings in my trusty Vanguard account.
Now, let’s talk about that emergency fund. Maintaining a safety net equivalent to at least three months’ worth of expenses is akin to having a personal financial guardian. Around this time last year, my laptop unexpectedly decided to pack it in. No worries, though, as I was able to dip into my emergency fund to secure the funds for a brand-new laptop. It truly was a financial lifesaver!
Events that you could use your emergency fund:
- Car breaking down
- Water spilt on your laptop
- Boiler breaking
- Sitting on your glasses
As a dedicated fashion enthusiast, I make it a point to allocate funds to my Luxe Fund every month. This Luxe Fund serves as a treasure chest where I gradually accumulate money, setting my sights on significant purchases like luxury handbags, exquisite heels, or other fashion items that have captured my attention.
Finally, I consistently contribute to my travel fund every month, given that my boyfriend and I are navigating a long-distance relationship following my graduation. To ensure I have the financial flexibility to visit him and enjoy our time together, I allocate funds for flights and spending expenses.
debt management.
Now, let’s turn our attention to managing any outstanding debts, like credit card balances and student loans. If you’re dealing with substantial deposits, it’s wise to prioritise paying off the debt with the highest interest rate first.
fixed monthly expenses.
Next, let’s take a moment to record all your essential monthly expenditures – things like rent, utilities, groceries, fitness, and your phone bill. I find it helpful to do this, especially because I prefer to consolidate many of my fixed bills on my credit card. This approach gives me a clearer picture of what my monthly credit card statement will look like.
Since I commute to work twice a week, I also allocate around £100 each month to a separate bank account (in my case, Monzo) for travel expenses. I keep this travel fund separate because it acts as a safety net, ensuring I don’t accidentally dip into it for other expenses.
variable monthly expenses.
As for managing variable monthly expenses, I find it beneficial to set a fixed limit that I must not exceed. My variable expense categories encompass things like shopping, nail care, self-care, and transportation. If you’re just starting out with budgeting, it’s quite common to occasionally exceed the budget you’ve set for yourself. In such instances, it’s important to be kind to yourself and make an effort to either enhance your budgeting discipline in the following month or make adjustments to your allocations, so you can achieve your budgeting goals in the months ahead.
creating a budget.
For crafting my budget, I’m a fan of using Google Sheets, but I’ve also recently acquired a finance tracker on Notion (I’ll keep you posted on how that goes!). You’ll find an abundance of free budgeting templates on platforms like Pinterest, TikTok, and YouTube, which can be incredibly handy.
I typically update my budget once or twice a month, usually on payday, and sometimes I do a mid-month check-in if it crosses my mind.
As I allocate every last penny, I ensure that no money is left unaccounted for. Every cent has its place in my budget!
lifestyle adjustments.
I actually took a bit of an unexpected route. During my university days, I was extremely cautious when it came to spending on myself, perhaps a tad too much. So, now that I’m in the workforce, I’ve aimed to strike a balance by treating and taking care of myself (while staying within reason, of course). My motto these days is, as long as it aligns with my budget, I’m more than happy to swipe that card!
accountability and transparency.
My mum has been an incredible teacher when it comes to personal finance and budgeting, and I turn to her with my endless array of questions – she’s basically my personal financial guru! I also devour a lot of financial education content on YouTube and TikTok, as there’s always something new to discover and learn. It’s fascinating to hear about how individuals from various age groups and professions handle their budgets. I usually cherry-pick the strategies that suit me and my unique lifestyle.
credit card transparency.
I just recently dipped my toes into the world of credit cards, and I’d recommend getting one only if you possess a high level of discipline and/or are keen on reaping those points. When it came to selecting the right credit card, I dove into extensive research and watched a ton of informative videos on platforms like YouTube and TikTok.
Living here in the UK, I eventually settled on the British Airways AMEX card. The reason behind this choice is the ability to accumulate points that can be used for British Airways flights, which could be a game-changer when booking those flights to visit my boyfriend!
If you’re interested in getting the British Airways American Express Credit Card, you can collect 6,000 BONUS Avious points when you spend £1,000 in the first 3 months!
what happens to any money left over?
Should I find myself with any surplus funds at the end of the month, I happily funnel them straight into my Vanguard account. There’s a certain thrill in ensuring my account balance reads zero just before the next paycheck lands in my account, marking the beginning of my budgeting routine all over again!
check these out:
Before we begin, I’d like to clarify that I currently live at home, which means I don’t have to cover expenses like rent, utilities, or council tax. I understand that not everyone is in the same situation, so please consider this post as a general guide, and choose the tips that best suit your circumstances. Now let’s dive into how you can transform your budget routine.
As a recent university graduate who has transitioned into the world of corporate 9-5 work, I was determined to avoid falling into the financial traps that many people encounter, such as overspending or living paycheck to paycheck. Before I started my job, I took some time to set clear financial goals I hope to achieve in the next couple of years. One of my primary aspirations is to enter the property market, and this is the driving force behind my commitment to adopting effective budgeting strategies.
setting financial goals.
Before embarking on your budgeting journey, it’s crucial to establish clear financial goals for yourself. The more specific your goals, the better. Alongside each goal, indicate whether it falls under the category of short-term or long-term objectives.
Simi’s financial goals:
- Put half of my salary into my savings each month- short-term
- Pay £200 into my emergency fund each month- short-term
- Pay off my credit card in full each month- short-term
- Put a down payment on a property- long-term
tracking income.
Whether you receive a consistent fixed salary or one that fluctuates, it’s crucial to ensure that the amount deposited into your account aligns with your payslip or invoice. Human errors can occur, so it’s wise to double-check and confirm that you’ve been paid the accurate amount.
With the assurance that your payment is accurate, it’s now time to begin populating your budget spreadsheet. Regardless of whether your income is derived from multiple sources or solely from your 9-5 job, include all your income streams in the spreadsheet.
tithes.
After receiving my paycheck, I make it a priority to allocate 10{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my income to fulfill my tithing commitment to my church. This practice holds significant personal importance to me.
savings and emergency fund.
Upon receiving my paycheque, my initial move is to allocate funds for myself – no rocket science here. I’m fortunate to set aside a solid 50{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my monthly earnings. I make a monthly £200 deposit to max out my emergency fund, leaving the remaining half for my long-term savings in my trusty Vanguard account.
Now, let’s talk about that emergency fund. Maintaining a safety net equivalent to at least three months’ worth of expenses is akin to having a personal financial guardian. Around this time last year, my laptop unexpectedly decided to pack it in. No worries, though, as I was able to dip into my emergency fund to secure the funds for a brand-new laptop. It truly was a financial lifesaver!
Events that you could use your emergency fund:
- Car breaking down
- Water spilt on your laptop
- Boiler breaking
- Sitting on your glasses
As a dedicated fashion enthusiast, I make it a point to allocate funds to my Luxe Fund every month. This Luxe Fund serves as a treasure chest where I gradually accumulate money, setting my sights on significant purchases like luxury handbags, exquisite heels, or other fashion items that have captured my attention.
Finally, I consistently contribute to my travel fund every month, given that my boyfriend and I are navigating a long-distance relationship following my graduation. To ensure I have the financial flexibility to visit him and enjoy our time together, I allocate funds for flights and spending expenses.
debt management.
Now, let’s turn our attention to managing any outstanding debts, like credit card balances and student loans. If you’re dealing with substantial deposits, it’s wise to prioritise paying off the debt with the highest interest rate first.
fixed monthly expenses.
Next, let’s take a moment to record all your essential monthly expenditures – things like rent, utilities, groceries, fitness, and your phone bill. I find it helpful to do this, especially because I prefer to consolidate many of my fixed bills on my credit card. This approach gives me a clearer picture of what my monthly credit card statement will look like.
Since I commute to work twice a week, I also allocate around £100 each month to a separate bank account (in my case, Monzo) for travel expenses. I keep this travel fund separate because it acts as a safety net, ensuring I don’t accidentally dip into it for other expenses.
variable monthly expenses.
As for managing variable monthly expenses, I find it beneficial to set a fixed limit that I must not exceed. My variable expense categories encompass things like shopping, nail care, self-care, and transportation. If you’re just starting out with budgeting, it’s quite common to occasionally exceed the budget you’ve set for yourself. In such instances, it’s important to be kind to yourself and make an effort to either enhance your budgeting discipline in the following month or make adjustments to your allocations, so you can achieve your budgeting goals in the months ahead.
creating a budget.
For crafting my budget, I’m a fan of using Google Sheets, but I’ve also recently acquired a finance tracker on Notion (I’ll keep you posted on how that goes!). You’ll find an abundance of free budgeting templates on platforms like Pinterest, TikTok, and YouTube, which can be incredibly handy.
I typically update my budget once or twice a month, usually on payday, and sometimes I do a mid-month check-in if it crosses my mind.
As I allocate every last penny, I ensure that no money is left unaccounted for. Every cent has its place in my budget!
lifestyle adjustments.
I actually took a bit of an unexpected route. During my university days, I was extremely cautious when it came to spending on myself, perhaps a tad too much. So, now that I’m in the workforce, I’ve aimed to strike a balance by treating and taking care of myself (while staying within reason, of course). My motto these days is, as long as it aligns with my budget, I’m more than happy to swipe that card!
accountability and transparency.
My mum has been an incredible teacher when it comes to personal finance and budgeting, and I turn to her with my endless array of questions – she’s basically my personal financial guru! I also devour a lot of financial education content on YouTube and TikTok, as there’s always something new to discover and learn. It’s fascinating to hear about how individuals from various age groups and professions handle their budgets. I usually cherry-pick the strategies that suit me and my unique lifestyle.
credit card transparency.
I just recently dipped my toes into the world of credit cards, and I’d recommend getting one only if you possess a high level of discipline and/or are keen on reaping those points. When it came to selecting the right credit card, I dove into extensive research and watched a ton of informative videos on platforms like YouTube and TikTok.
Living here in the UK, I eventually settled on the British Airways AMEX card. The reason behind this choice is the ability to accumulate points that can be used for British Airways flights, which could be a game-changer when booking those flights to visit my boyfriend!
If you’re interested in getting the British Airways American Express Credit Card, you can collect 6,000 BONUS Avious points when you spend £1,000 in the first 3 months!
what happens to any money left over?
Should I find myself with any surplus funds at the end of the month, I happily funnel them straight into my Vanguard account. There’s a certain thrill in ensuring my account balance reads zero just before the next paycheck lands in my account, marking the beginning of my budgeting routine all over again!
check these out:
A twenty something year old, obsessed with all things design, organisation. want to learn more about me, click here.
Simi's fave resources
My Projects
TEMPLATE CUSTOMISATION
CUSTOM WEBSITE
WEBSITE AUDIT
Before we begin, I’d like to clarify that I currently live at home, which means I don’t have to cover expenses like rent, utilities, or council tax. I understand that not everyone is in the same situation, so please consider this post as a general guide, and choose the tips that best suit your circumstances. Now let’s dive into how you can transform your budget routine.
As a recent university graduate who has transitioned into the world of corporate 9-5 work, I was determined to avoid falling into the financial traps that many people encounter, such as overspending or living paycheck to paycheck. Before I started my job, I took some time to set clear financial goals I hope to achieve in the next couple of years. One of my primary aspirations is to enter the property market, and this is the driving force behind my commitment to adopting effective budgeting strategies.
setting financial goals.
Before embarking on your budgeting journey, it’s crucial to establish clear financial goals for yourself. The more specific your goals, the better. Alongside each goal, indicate whether it falls under the category of short-term or long-term objectives.
Simi’s financial goals:
- Put half of my salary into my savings each month- short-term
- Pay £200 into my emergency fund each month- short-term
- Pay off my credit card in full each month- short-term
- Put a down payment on a property- long-term
tracking income.
Whether you receive a consistent fixed salary or one that fluctuates, it’s crucial to ensure that the amount deposited into your account aligns with your payslip or invoice. Human errors can occur, so it’s wise to double-check and confirm that you’ve been paid the accurate amount.
With the assurance that your payment is accurate, it’s now time to begin populating your budget spreadsheet. Regardless of whether your income is derived from multiple sources or solely from your 9-5 job, include all your income streams in the spreadsheet.
tithes.
After receiving my paycheck, I make it a priority to allocate 10{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my income to fulfill my tithing commitment to my church. This practice holds significant personal importance to me.
savings and emergency fund.
Upon receiving my paycheque, my initial move is to allocate funds for myself – no rocket science here. I’m fortunate to set aside a solid 50{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my monthly earnings. I make a monthly £200 deposit to max out my emergency fund, leaving the remaining half for my long-term savings in my trusty Vanguard account.
Now, let’s talk about that emergency fund. Maintaining a safety net equivalent to at least three months’ worth of expenses is akin to having a personal financial guardian. Around this time last year, my laptop unexpectedly decided to pack it in. No worries, though, as I was able to dip into my emergency fund to secure the funds for a brand-new laptop. It truly was a financial lifesaver!
Events that you could use your emergency fund:
- Car breaking down
- Water spilt on your laptop
- Boiler breaking
- Sitting on your glasses
As a dedicated fashion enthusiast, I make it a point to allocate funds to my Luxe Fund every month. This Luxe Fund serves as a treasure chest where I gradually accumulate money, setting my sights on significant purchases like luxury handbags, exquisite heels, or other fashion items that have captured my attention.
Finally, I consistently contribute to my travel fund every month, given that my boyfriend and I are navigating a long-distance relationship following my graduation. To ensure I have the financial flexibility to visit him and enjoy our time together, I allocate funds for flights and spending expenses.
debt management.
Now, let’s turn our attention to managing any outstanding debts, like credit card balances and student loans. If you’re dealing with substantial deposits, it’s wise to prioritise paying off the debt with the highest interest rate first.
fixed monthly expenses.
Next, let’s take a moment to record all your essential monthly expenditures – things like rent, utilities, groceries, fitness, and your phone bill. I find it helpful to do this, especially because I prefer to consolidate many of my fixed bills on my credit card. This approach gives me a clearer picture of what my monthly credit card statement will look like.
Since I commute to work twice a week, I also allocate around £100 each month to a separate bank account (in my case, Monzo) for travel expenses. I keep this travel fund separate because it acts as a safety net, ensuring I don’t accidentally dip into it for other expenses.
variable monthly expenses.
As for managing variable monthly expenses, I find it beneficial to set a fixed limit that I must not exceed. My variable expense categories encompass things like shopping, nail care, self-care, and transportation. If you’re just starting out with budgeting, it’s quite common to occasionally exceed the budget you’ve set for yourself. In such instances, it’s important to be kind to yourself and make an effort to either enhance your budgeting discipline in the following month or make adjustments to your allocations, so you can achieve your budgeting goals in the months ahead.
creating a budget.
For crafting my budget, I’m a fan of using Google Sheets, but I’ve also recently acquired a finance tracker on Notion (I’ll keep you posted on how that goes!). You’ll find an abundance of free budgeting templates on platforms like Pinterest, TikTok, and YouTube, which can be incredibly handy.
I typically update my budget once or twice a month, usually on payday, and sometimes I do a mid-month check-in if it crosses my mind.
As I allocate every last penny, I ensure that no money is left unaccounted for. Every cent has its place in my budget!
lifestyle adjustments.
I actually took a bit of an unexpected route. During my university days, I was extremely cautious when it came to spending on myself, perhaps a tad too much. So, now that I’m in the workforce, I’ve aimed to strike a balance by treating and taking care of myself (while staying within reason, of course). My motto these days is, as long as it aligns with my budget, I’m more than happy to swipe that card!
accountability and transparency.
My mum has been an incredible teacher when it comes to personal finance and budgeting, and I turn to her with my endless array of questions – she’s basically my personal financial guru! I also devour a lot of financial education content on YouTube and TikTok, as there’s always something new to discover and learn. It’s fascinating to hear about how individuals from various age groups and professions handle their budgets. I usually cherry-pick the strategies that suit me and my unique lifestyle.
credit card transparency.
I just recently dipped my toes into the world of credit cards, and I’d recommend getting one only if you possess a high level of discipline and/or are keen on reaping those points. When it came to selecting the right credit card, I dove into extensive research and watched a ton of informative videos on platforms like YouTube and TikTok.
Living here in the UK, I eventually settled on the British Airways AMEX card. The reason behind this choice is the ability to accumulate points that can be used for British Airways flights, which could be a game-changer when booking those flights to visit my boyfriend!
If you’re interested in getting the British Airways American Express Credit Card, you can collect 6,000 BONUS Avious points when you spend £1,000 in the first 3 months!
what happens to any money left over?
Should I find myself with any surplus funds at the end of the month, I happily funnel them straight into my Vanguard account. There’s a certain thrill in ensuring my account balance reads zero just before the next paycheck lands in my account, marking the beginning of my budgeting routine all over again!
check these out:
A twenty something year old, obsessed with all things design, organisation. want to learn more about me, click here.
Simi's fave resources
My Projects
TEMPLATE CUSTOMISATION
CUSTOM WEBSITE
WEBSITE AUDIT
Before we begin, I’d like to clarify that I currently live at home, which means I don’t have to cover expenses like rent, utilities, or council tax. I understand that not everyone is in the same situation, so please consider this post as a general guide, and choose the tips that best suit your circumstances. Now let’s dive into how you can transform your budget routine.
As a recent university graduate who has transitioned into the world of corporate 9-5 work, I was determined to avoid falling into the financial traps that many people encounter, such as overspending or living paycheck to paycheck. Before I started my job, I took some time to set clear financial goals I hope to achieve in the next couple of years. One of my primary aspirations is to enter the property market, and this is the driving force behind my commitment to adopting effective budgeting strategies.
setting financial goals.
Before embarking on your budgeting journey, it’s crucial to establish clear financial goals for yourself. The more specific your goals, the better. Alongside each goal, indicate whether it falls under the category of short-term or long-term objectives.
Simi’s financial goals:
- Put half of my salary into my savings each month- short-term
- Pay £200 into my emergency fund each month- short-term
- Pay off my credit card in full each month- short-term
- Put a down payment on a property- long-term
tracking income.
Whether you receive a consistent fixed salary or one that fluctuates, it’s crucial to ensure that the amount deposited into your account aligns with your payslip or invoice. Human errors can occur, so it’s wise to double-check and confirm that you’ve been paid the accurate amount.
With the assurance that your payment is accurate, it’s now time to begin populating your budget spreadsheet. Regardless of whether your income is derived from multiple sources or solely from your 9-5 job, include all your income streams in the spreadsheet.
tithes.
After receiving my paycheck, I make it a priority to allocate 10{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my income to fulfill my tithing commitment to my church. This practice holds significant personal importance to me.
savings and emergency fund.
Upon receiving my paycheque, my initial move is to allocate funds for myself – no rocket science here. I’m fortunate to set aside a solid 50{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my monthly earnings. I make a monthly £200 deposit to max out my emergency fund, leaving the remaining half for my long-term savings in my trusty Vanguard account.
Now, let’s talk about that emergency fund. Maintaining a safety net equivalent to at least three months’ worth of expenses is akin to having a personal financial guardian. Around this time last year, my laptop unexpectedly decided to pack it in. No worries, though, as I was able to dip into my emergency fund to secure the funds for a brand-new laptop. It truly was a financial lifesaver!
Events that you could use your emergency fund:
- Car breaking down
- Water spilt on your laptop
- Boiler breaking
- Sitting on your glasses
As a dedicated fashion enthusiast, I make it a point to allocate funds to my Luxe Fund every month. This Luxe Fund serves as a treasure chest where I gradually accumulate money, setting my sights on significant purchases like luxury handbags, exquisite heels, or other fashion items that have captured my attention.
Finally, I consistently contribute to my travel fund every month, given that my boyfriend and I are navigating a long-distance relationship following my graduation. To ensure I have the financial flexibility to visit him and enjoy our time together, I allocate funds for flights and spending expenses.
debt management.
Now, let’s turn our attention to managing any outstanding debts, like credit card balances and student loans. If you’re dealing with substantial deposits, it’s wise to prioritise paying off the debt with the highest interest rate first.
fixed monthly expenses.
Next, let’s take a moment to record all your essential monthly expenditures – things like rent, utilities, groceries, fitness, and your phone bill. I find it helpful to do this, especially because I prefer to consolidate many of my fixed bills on my credit card. This approach gives me a clearer picture of what my monthly credit card statement will look like.
Since I commute to work twice a week, I also allocate around £100 each month to a separate bank account (in my case, Monzo) for travel expenses. I keep this travel fund separate because it acts as a safety net, ensuring I don’t accidentally dip into it for other expenses.
variable monthly expenses.
As for managing variable monthly expenses, I find it beneficial to set a fixed limit that I must not exceed. My variable expense categories encompass things like shopping, nail care, self-care, and transportation. If you’re just starting out with budgeting, it’s quite common to occasionally exceed the budget you’ve set for yourself. In such instances, it’s important to be kind to yourself and make an effort to either enhance your budgeting discipline in the following month or make adjustments to your allocations, so you can achieve your budgeting goals in the months ahead.
creating a budget.
For crafting my budget, I’m a fan of using Google Sheets, but I’ve also recently acquired a finance tracker on Notion (I’ll keep you posted on how that goes!). You’ll find an abundance of free budgeting templates on platforms like Pinterest, TikTok, and YouTube, which can be incredibly handy.
I typically update my budget once or twice a month, usually on payday, and sometimes I do a mid-month check-in if it crosses my mind.
As I allocate every last penny, I ensure that no money is left unaccounted for. Every cent has its place in my budget!
lifestyle adjustments.
I actually took a bit of an unexpected route. During my university days, I was extremely cautious when it came to spending on myself, perhaps a tad too much. So, now that I’m in the workforce, I’ve aimed to strike a balance by treating and taking care of myself (while staying within reason, of course). My motto these days is, as long as it aligns with my budget, I’m more than happy to swipe that card!
accountability and transparency.
My mum has been an incredible teacher when it comes to personal finance and budgeting, and I turn to her with my endless array of questions – she’s basically my personal financial guru! I also devour a lot of financial education content on YouTube and TikTok, as there’s always something new to discover and learn. It’s fascinating to hear about how individuals from various age groups and professions handle their budgets. I usually cherry-pick the strategies that suit me and my unique lifestyle.
credit card transparency.
I just recently dipped my toes into the world of credit cards, and I’d recommend getting one only if you possess a high level of discipline and/or are keen on reaping those points. When it came to selecting the right credit card, I dove into extensive research and watched a ton of informative videos on platforms like YouTube and TikTok.
Living here in the UK, I eventually settled on the British Airways AMEX card. The reason behind this choice is the ability to accumulate points that can be used for British Airways flights, which could be a game-changer when booking those flights to visit my boyfriend!
If you’re interested in getting the British Airways American Express Credit Card, you can collect 6,000 BONUS Avious points when you spend £1,000 in the first 3 months!
what happens to any money left over?
Should I find myself with any surplus funds at the end of the month, I happily funnel them straight into my Vanguard account. There’s a certain thrill in ensuring my account balance reads zero just before the next paycheck lands in my account, marking the beginning of my budgeting routine all over again!
check these out:
Before we begin, I’d like to clarify that I currently live at home, which means I don’t have to cover expenses like rent, utilities, or council tax. I understand that not everyone is in the same situation, so please consider this post as a general guide, and choose the tips that best suit your circumstances. Now let’s dive into how you can transform your budget routine.
As a recent university graduate who has transitioned into the world of corporate 9-5 work, I was determined to avoid falling into the financial traps that many people encounter, such as overspending or living paycheck to paycheck. Before I started my job, I took some time to set clear financial goals I hope to achieve in the next couple of years. One of my primary aspirations is to enter the property market, and this is the driving force behind my commitment to adopting effective budgeting strategies.
setting financial goals.
Before embarking on your budgeting journey, it’s crucial to establish clear financial goals for yourself. The more specific your goals, the better. Alongside each goal, indicate whether it falls under the category of short-term or long-term objectives.
Simi’s financial goals:
- Put half of my salary into my savings each month- short-term
- Pay £200 into my emergency fund each month- short-term
- Pay off my credit card in full each month- short-term
- Put a down payment on a property- long-term
tracking income.
Whether you receive a consistent fixed salary or one that fluctuates, it’s crucial to ensure that the amount deposited into your account aligns with your payslip or invoice. Human errors can occur, so it’s wise to double-check and confirm that you’ve been paid the accurate amount.
With the assurance that your payment is accurate, it’s now time to begin populating your budget spreadsheet. Regardless of whether your income is derived from multiple sources or solely from your 9-5 job, include all your income streams in the spreadsheet.
tithes.
After receiving my paycheck, I make it a priority to allocate 10{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my income to fulfill my tithing commitment to my church. This practice holds significant personal importance to me.
savings and emergency fund.
Upon receiving my paycheque, my initial move is to allocate funds for myself – no rocket science here. I’m fortunate to set aside a solid 50{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my monthly earnings. I make a monthly £200 deposit to max out my emergency fund, leaving the remaining half for my long-term savings in my trusty Vanguard account.
Now, let’s talk about that emergency fund. Maintaining a safety net equivalent to at least three months’ worth of expenses is akin to having a personal financial guardian. Around this time last year, my laptop unexpectedly decided to pack it in. No worries, though, as I was able to dip into my emergency fund to secure the funds for a brand-new laptop. It truly was a financial lifesaver!
Events that you could use your emergency fund:
- Car breaking down
- Water spilt on your laptop
- Boiler breaking
- Sitting on your glasses
As a dedicated fashion enthusiast, I make it a point to allocate funds to my Luxe Fund every month. This Luxe Fund serves as a treasure chest where I gradually accumulate money, setting my sights on significant purchases like luxury handbags, exquisite heels, or other fashion items that have captured my attention.
Finally, I consistently contribute to my travel fund every month, given that my boyfriend and I are navigating a long-distance relationship following my graduation. To ensure I have the financial flexibility to visit him and enjoy our time together, I allocate funds for flights and spending expenses.
debt management.
Now, let’s turn our attention to managing any outstanding debts, like credit card balances and student loans. If you’re dealing with substantial deposits, it’s wise to prioritise paying off the debt with the highest interest rate first.
fixed monthly expenses.
Next, let’s take a moment to record all your essential monthly expenditures – things like rent, utilities, groceries, fitness, and your phone bill. I find it helpful to do this, especially because I prefer to consolidate many of my fixed bills on my credit card. This approach gives me a clearer picture of what my monthly credit card statement will look like.
Since I commute to work twice a week, I also allocate around £100 each month to a separate bank account (in my case, Monzo) for travel expenses. I keep this travel fund separate because it acts as a safety net, ensuring I don’t accidentally dip into it for other expenses.
variable monthly expenses.
As for managing variable monthly expenses, I find it beneficial to set a fixed limit that I must not exceed. My variable expense categories encompass things like shopping, nail care, self-care, and transportation. If you’re just starting out with budgeting, it’s quite common to occasionally exceed the budget you’ve set for yourself. In such instances, it’s important to be kind to yourself and make an effort to either enhance your budgeting discipline in the following month or make adjustments to your allocations, so you can achieve your budgeting goals in the months ahead.
creating a budget.
For crafting my budget, I’m a fan of using Google Sheets, but I’ve also recently acquired a finance tracker on Notion (I’ll keep you posted on how that goes!). You’ll find an abundance of free budgeting templates on platforms like Pinterest, TikTok, and YouTube, which can be incredibly handy.
I typically update my budget once or twice a month, usually on payday, and sometimes I do a mid-month check-in if it crosses my mind.
As I allocate every last penny, I ensure that no money is left unaccounted for. Every cent has its place in my budget!
lifestyle adjustments.
I actually took a bit of an unexpected route. During my university days, I was extremely cautious when it came to spending on myself, perhaps a tad too much. So, now that I’m in the workforce, I’ve aimed to strike a balance by treating and taking care of myself (while staying within reason, of course). My motto these days is, as long as it aligns with my budget, I’m more than happy to swipe that card!
accountability and transparency.
My mum has been an incredible teacher when it comes to personal finance and budgeting, and I turn to her with my endless array of questions – she’s basically my personal financial guru! I also devour a lot of financial education content on YouTube and TikTok, as there’s always something new to discover and learn. It’s fascinating to hear about how individuals from various age groups and professions handle their budgets. I usually cherry-pick the strategies that suit me and my unique lifestyle.
credit card transparency.
I just recently dipped my toes into the world of credit cards, and I’d recommend getting one only if you possess a high level of discipline and/or are keen on reaping those points. When it came to selecting the right credit card, I dove into extensive research and watched a ton of informative videos on platforms like YouTube and TikTok.
Living here in the UK, I eventually settled on the British Airways AMEX card. The reason behind this choice is the ability to accumulate points that can be used for British Airways flights, which could be a game-changer when booking those flights to visit my boyfriend!
If you’re interested in getting the British Airways American Express Credit Card, you can collect 6,000 BONUS Avious points when you spend £1,000 in the first 3 months!
what happens to any money left over?
Should I find myself with any surplus funds at the end of the month, I happily funnel them straight into my Vanguard account. There’s a certain thrill in ensuring my account balance reads zero just before the next paycheck lands in my account, marking the beginning of my budgeting routine all over again!
check these out:
A twenty something year old, obsessed with all things design, organisation. want to learn more about me, click here.
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Before we begin, I’d like to clarify that I currently live at home, which means I don’t have to cover expenses like rent, utilities, or council tax. I understand that not everyone is in the same situation, so please consider this post as a general guide, and choose the tips that best suit your circumstances. Now let’s dive into how you can transform your budget routine.
As a recent university graduate who has transitioned into the world of corporate 9-5 work, I was determined to avoid falling into the financial traps that many people encounter, such as overspending or living paycheck to paycheck. Before I started my job, I took some time to set clear financial goals I hope to achieve in the next couple of years. One of my primary aspirations is to enter the property market, and this is the driving force behind my commitment to adopting effective budgeting strategies.
setting financial goals.
Before embarking on your budgeting journey, it’s crucial to establish clear financial goals for yourself. The more specific your goals, the better. Alongside each goal, indicate whether it falls under the category of short-term or long-term objectives.
Simi’s financial goals:
- Put half of my salary into my savings each month- short-term
- Pay £200 into my emergency fund each month- short-term
- Pay off my credit card in full each month- short-term
- Put a down payment on a property- long-term
tracking income.
Whether you receive a consistent fixed salary or one that fluctuates, it’s crucial to ensure that the amount deposited into your account aligns with your payslip or invoice. Human errors can occur, so it’s wise to double-check and confirm that you’ve been paid the accurate amount.
With the assurance that your payment is accurate, it’s now time to begin populating your budget spreadsheet. Regardless of whether your income is derived from multiple sources or solely from your 9-5 job, include all your income streams in the spreadsheet.
tithes.
After receiving my paycheck, I make it a priority to allocate 10{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my income to fulfill my tithing commitment to my church. This practice holds significant personal importance to me.
savings and emergency fund.
Upon receiving my paycheque, my initial move is to allocate funds for myself – no rocket science here. I’m fortunate to set aside a solid 50{c442fc8ef3789ed23df439e52609827a13bf4892a25a9bdf30f84ba71f479458} of my monthly earnings. I make a monthly £200 deposit to max out my emergency fund, leaving the remaining half for my long-term savings in my trusty Vanguard account.
Now, let’s talk about that emergency fund. Maintaining a safety net equivalent to at least three months’ worth of expenses is akin to having a personal financial guardian. Around this time last year, my laptop unexpectedly decided to pack it in. No worries, though, as I was able to dip into my emergency fund to secure the funds for a brand-new laptop. It truly was a financial lifesaver!
Events that you could use your emergency fund:
- Car breaking down
- Water spilt on your laptop
- Boiler breaking
- Sitting on your glasses
As a dedicated fashion enthusiast, I make it a point to allocate funds to my Luxe Fund every month. This Luxe Fund serves as a treasure chest where I gradually accumulate money, setting my sights on significant purchases like luxury handbags, exquisite heels, or other fashion items that have captured my attention.
Finally, I consistently contribute to my travel fund every month, given that my boyfriend and I are navigating a long-distance relationship following my graduation. To ensure I have the financial flexibility to visit him and enjoy our time together, I allocate funds for flights and spending expenses.
debt management.
Now, let’s turn our attention to managing any outstanding debts, like credit card balances and student loans. If you’re dealing with substantial deposits, it’s wise to prioritise paying off the debt with the highest interest rate first.
fixed monthly expenses.
Next, let’s take a moment to record all your essential monthly expenditures – things like rent, utilities, groceries, fitness, and your phone bill. I find it helpful to do this, especially because I prefer to consolidate many of my fixed bills on my credit card. This approach gives me a clearer picture of what my monthly credit card statement will look like.
Since I commute to work twice a week, I also allocate around £100 each month to a separate bank account (in my case, Monzo) for travel expenses. I keep this travel fund separate because it acts as a safety net, ensuring I don’t accidentally dip into it for other expenses.
variable monthly expenses.
As for managing variable monthly expenses, I find it beneficial to set a fixed limit that I must not exceed. My variable expense categories encompass things like shopping, nail care, self-care, and transportation. If you’re just starting out with budgeting, it’s quite common to occasionally exceed the budget you’ve set for yourself. In such instances, it’s important to be kind to yourself and make an effort to either enhance your budgeting discipline in the following month or make adjustments to your allocations, so you can achieve your budgeting goals in the months ahead.
creating a budget.
For crafting my budget, I’m a fan of using Google Sheets, but I’ve also recently acquired a finance tracker on Notion (I’ll keep you posted on how that goes!). You’ll find an abundance of free budgeting templates on platforms like Pinterest, TikTok, and YouTube, which can be incredibly handy.
I typically update my budget once or twice a month, usually on payday, and sometimes I do a mid-month check-in if it crosses my mind.
As I allocate every last penny, I ensure that no money is left unaccounted for. Every cent has its place in my budget!
lifestyle adjustments.
I actually took a bit of an unexpected route. During my university days, I was extremely cautious when it came to spending on myself, perhaps a tad too much. So, now that I’m in the workforce, I’ve aimed to strike a balance by treating and taking care of myself (while staying within reason, of course). My motto these days is, as long as it aligns with my budget, I’m more than happy to swipe that card!
accountability and transparency.
My mum has been an incredible teacher when it comes to personal finance and budgeting, and I turn to her with my endless array of questions – she’s basically my personal financial guru! I also devour a lot of financial education content on YouTube and TikTok, as there’s always something new to discover and learn. It’s fascinating to hear about how individuals from various age groups and professions handle their budgets. I usually cherry-pick the strategies that suit me and my unique lifestyle.
credit card transparency.
I just recently dipped my toes into the world of credit cards, and I’d recommend getting one only if you possess a high level of discipline and/or are keen on reaping those points. When it came to selecting the right credit card, I dove into extensive research and watched a ton of informative videos on platforms like YouTube and TikTok.
Living here in the UK, I eventually settled on the British Airways AMEX card. The reason behind this choice is the ability to accumulate points that can be used for British Airways flights, which could be a game-changer when booking those flights to visit my boyfriend!
If you’re interested in getting the British Airways American Express Credit Card, you can collect 6,000 BONUS Avious points when you spend £1,000 in the first 3 months!
what happens to any money left over?
Should I find myself with any surplus funds at the end of the month, I happily funnel them straight into my Vanguard account. There’s a certain thrill in ensuring my account balance reads zero just before the next paycheck lands in my account, marking the beginning of my budgeting routine all over again!
check these out:
