The Franno Budget 2011

To continue my stream of awesomeness, I have been thinking about the Franno Budget 2011, and things that I need and things that I want. Bit of a boring, number crunching post, this one – apologies, but I am figuring out my life here!

Today, I have cancelled two subscriptions which are no longer of use to me, to coincide with the Franno Budget 2011. This includes my trashy magazine subscription, which is delivered weekly and sprawled around the house, still in its packaging since December time, and (regretfully) my Spotify Premium subscription.

Honestly, I am gutted at the latter, but I just don’t get a chance to go on Spotify as much as I used to. And I’m still on Spotify, just not the one without the adverts. By cancelling Spotify Premium, I am saving £9.99 a month. That could put a quarter of a tank of petrol in my car. BAM. The trashy magazine, believe it or not, cost £50 per year. That’s not a lot, really. But I am saving £50. This could go into my wardrobe fund or buy me a hair cut or something.

My London gym membership is finally cancelled. I had to give a month’s notice and pay one more month’s installment, but it’s gone. So that’s another £60 a month contributing towards Franno’s needs/wants, which brings me onto my defined categories. Firstly, the needs. Basically, these four things:

  1. Food – duh!
  2. Drink (Non-alcoholic. Sad face.)
  3. Petrol – to get to and from work
  4. Money for bills (electricity, water, phone, Sky (although, that’s probably a want…), Internet (again…), car insurance, car tax, paying Mum back for buying my car, credit card, WW membership, lottery tickets (what, they’re direct debited, so surely count as a bill?)…)

Wow, I have a lot of bills… Wants, well, they’re a little more tricky. There’s nothing that I really want right now, for example. But I may want to go to the pub for a drink later or I may pop into Boots and want that new shade of pink nail varnish, which looks exactly like the one I have at home. So I think I could probably divide my wants category up even further:

  1. Fashionable wants – the nail varnish, the new outfit for clubbing, etc.
  2. Sociable wants – the drink in the pub, the dinner with the best friend
  3. Homely wants – paint for the hallway, electrician wages for fixing the light switches
  4. Leisurely wants – buying a trashy novel, getting eyelash extensions, dying my hair blonde…

The list really and truly does go on. But just how much money should be spent on the wants? Now, with four weeks in a month and at £70 a week for the needs (which is basically food, drink and petrol, as my bill money is already transferred to another bank account), that’s a basic budget of £280.00. Not bad, eh? If I stick to it. I think I’ll try and stick to half of this for the wants. And do you know what? I think that’s rather generous of the Franno Budget 2011. Two weeks worth of budget for the things I don’t really need. Maybe this will change when I decide what it is I actually want!

So how should I implement this? It would be complete and utter rubbish if I actually took out the full £280.00 and kept it in my purse, only for me to spend it! I think the best way of doing this is to take out £70.00 at the beginning of the week and only keep £10 in my wallet at any one time. The change stays in the change bit – unless its pennies, in which case it goes in the unbreakable money box – and is therefore rolled over onto the next day. I suppose I could contribute the remainder of the unspent budget on wants, depending on if there are any!

I think for the next few months, at least, I should just put the rest of my salary as savings. I think it would be dumb not to. Especially as I have kinda depended on my savings for a while as a back up – it’s time to top it up again! And plus, you don’t know when you’re gonna have your car broken into or actually need it in case of an emergency.

::: Note for Jay :::

Sorry, this means I won’t be able to buy your drunken pizza any more, for I am on a strict budget. Plus, it’s not good for me to be tempted on my diet!

::: End Note for Jay :::

This time next year, Rodney, we’ll be millionaires!

Doubtful, but hopefully, I’ll be a little bit better off than right now! Do you know what? I’m slightly nervous. I’ve never really had to keep to a budget since I’ve had an allowance from my parents at the tender age of 15 and the full whack was used to make sure my phone had enough credit. How things have changed… I’ll keep you posted with how I’m doing as always 🙂 Pay day tomorrow…

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