Plan A Personal Financial Budget With Me | First Time Saver at 40 | Adulting | Saving Money

I've mastered my food budget but the rest of my finances are a shambles! Help me get back on track with a financial budget and plan for the next four years so I can get a house deposit together.
#budget #budgeting #saving #saver #money #personalfinance #finance
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Greetings!
Welcome to Budget Foodie UK.
I'm Rechenda, a 40-something from Norwich, Norfolk. I live with my Tuxedo cat Jack. Together we are trying to save as much money on food (and in life) to help save for a house deposit over the next five years.
You can follow me on Instagram on BudgetFoodieUK and/or email me at [e-mail]
My video content includes:
- Budget friendly cooking
- Charity shops and car boots
- Personal finance and money management
- Chats with frugal friends
- Money making hacks
Subscribe now to Budget Foodie UK to follow my financial adventures! 🥑🌶️💸
#BudgetFoodie #ThriftyCooking #MoneySaverMeals #FrugalFoodie #AffordableEats #CostOfLivingCrisis #frugalfood #frugalfoodrecipes #budgetmealsuk #budgetmeal #budgetmeals #budgetmealplanner #budgeting #personalfinance #carboot #carbootsale #charityvlogger #charityshops #charityshopping #charityshop #thrifty #thrifting #moneymanagement #moneytips

[@margaretderrouel5715]

It's very hard to get on budget and stay on it but once you do you will find you have more money to spend. Before I budget or did envelopes to save I would run out of money 2 weeks after getting paid but now I have more money than before which amazes me because I was so bad for nearly 20 years ! When I think of all the money I could have saved but I wasted but now I've got the hang of it all and I'm saving and doing good and I'm sure you will be able to do the same and make it a success like you have done in your business. I'm saving up for house well it's such a challenge but I really want to achieve it. Alot of hard work, saving and fighting off the need to go to the shops or pop online cause I need a treat 🙈. I just keep thinking of a life I could have would not paying any rent to anyone and just having my own place that would be amazing achievement. I hope you can get to do the same as well 💖

[@BudgetFoodieUK]

We can do this Margaret! Love the envelope ideas. Im excited for the adventure xxx

[@rosemarie-karma]

Cash stuffing for the win!

[@BudgetFoodieUK]

Defo!!! X

[@shelleyk7462]

I love looking at other peoples finances and what they spend their money on.

[@BudgetFoodieUK]

It is super interesting isn't it?! Xx

[@caroldaviddaviejohnson2225]

👏👏👏👍 you will do it, as you see your savings growing and your plan working it will spur you on. It really does work having a set budget, and as you will be able to adjust the phone costs etc in time, then you'll be able to tweak the budget even more. Hope the book is useful too.

[@BudgetFoodieUK]

Thanks carol xxx

[@clairescooking1173]

Really inspiring!

[@BudgetFoodieUK]

Thanks lovely Claire x

[@dulciesen5053]

Really enjoyed your video! I would query the 'tenant insurance' - I'm a tenant and also a Landlord - there is no legal requirement for you to insure your landlord's property (if that's what this is?) - that's what the deposit is for. When we signed up for our tenancy they attempted to pressurise us into purchasing this insurance but it's not necessary and you don't have to have it.

[@BudgetFoodieUK]

I managed to find another cover for tenants at just £5 a month instead of £15, think it covers me if I do something stupid like leave the tap on and flood the place x

[@GinaBertolo]

Health insurance is never a luxury. I live in New York (and am a nurse) and pay a reduced rate of nearly $600.00 per month for mine (single coverage). It kills me every month to pay it but it’s well worth it just in case it’s needed. That’s a great budget you have put together!!!

[@BudgetFoodieUK]

Omg $600! Xx

[@Amanda-pv9kz]

Great plan!!! You can do this!

[@BudgetFoodieUK]

Thank you my sweet! Xx

[@rachel79934]

It's so great to see you starting your budgeting journey! Don't make your budget too restrictive or you might really struggle to stick to it. There are loads of KZbin budgeting channels for ordinary people. I would really recommend Budgets and Dreams and Budget with Ira from a couple of years ago. Don't forget that you will need to budget flexible expenses too e.g groceries, household cleaning etc as well as things like car insurance and maintenence . ❤

[@BudgetFoodieUK]

Thank you I will look those two up and thank you so much for the excellent tips! X

[@paulamccarthy8197]

My kitchen does get like that 😂

[@BudgetFoodieUK]

Glad I’m not the only one!

[@kamaldeepjohal9372]

Mine too

[@mumthings]

Oh love that kitchen is not that bad! Mine looks that bad by lunch! Good for you getting your finances sorted. I'm terrible, I create great plans an beautiful spreadsheets then never open them again.

[@BudgetFoodieUK]

Pans and dirty plates everywhere 😂 I really hope I stick to it xx

[@Gary_Luke]

A budget is a great first step to sorting out your finances 👍 Next step is to keep a record of all your expenditure each month so that you can keep yourself on track. Good luck!

[@BudgetFoodieUK]

Good plan Gary! 💪 xx

[@paulamccarthy8197]

I know it’s nice to own your home but it’s a massive stress and commitment I’m sure I’d want to, I’d rather have a fun time with it and live a little, even for a short while and decide then :) I’ve had a mortgage previously it was a massive stress

[@BudgetFoodieUK]

Yes that is true and also getting a loan/mortgage for £200k scares the living daylights out of me

[@sisterdube6235]

GOOD JOB

[@BudgetFoodieUK]

Thank you sister xx

[@created4tomorrow]

Perhaps calculate how much interest you might save by paying off the SmileDirect loan early. It might be worth it to do so with the first month's ~700 surplus. It looks good getting it all on paper!

[@BudgetFoodieUK]

Great idea! Xx

[@LittlePinkPiggy1]

I have always been thrifty but I still never had enough money. Then many years ago I actually started budgeting down to the last penny and it was an overnight game changer. My husband retired when he was 53 and I gave up work at the same time. We paid off our mortgage and live on his pension. I don't believe we would have achieved this without budgeting for years beforehand.

[@BudgetFoodieUK]

Wow!! This is total inspiration xx

[@Frugal-Sue]

I would look at your business paying your health insurances, obviously get accountants advise. If you run the business and are off sick, your business suffers, so its a business expense possibly. Also, i would get the business to pay a proportion of your mobile phone and Broadband. Without them, you cant run your business when working from home. Of course, those all depend on whether the business has the cashflow.

[@BudgetFoodieUK]

Good idea Sue x

[@debradavis4771]

Well done you what a great start to your financial plan. May I suggest that you look into some detail of a few direct debits. I promise you that it is so easy to get carried away especially as a single woman with the fear factor of what if? Are you getting good value out of your tenants insurance for £240 a year. What do you get above contents cover for your belongings? I pay about £80 a year for a very comprehensive contents policy. I would also look at Petplan for £198 a year I recently cancelled mine because it is not good value. I can buy worm tablets for £5 a year clip his claws clippers cost £6. Get flea treatment when and if needed. Well done on the internet. Good Luck you have made a great start I am good with the finances and dreadful with the food budget.

[@BudgetFoodieUK]

Ok good ideas here! Will look into xx

[@BudgetFoodieUK]

Debra you are amazing I just reduced my tenant contents cover to £5 a month down from £20 a month! My pet plan doesn’t run out until Sept but I have put a note in to cancel it xx

[@barbarahughes6009]

Does the $250 savings include entertainment eg eating out once in a while,movies,coffees,drinks with friends,books etc if you leave nothing for ‘fun’you are likely to feel very deprived and down after a while.I think the winning game is to have some “mad’ money every week.I doesn’t have to be much.

[@BudgetFoodieUK]

Yes I think it needs to Barbara like you say so I don't go mad! Xx

[@goodlifeliving1667]

Agree with Barbara you need fun / personal money say £25 spend on whatever you want

[@BudgetFoodieUK]

Yes defo xx Barbara has the wisdom! Xx

[@jvp9703]

How can one person make all that mess in a kitchen? 😅 Anyway I think it's great that you're putting a new life plan into action. Wish I was making your kind of money. I don't have anywhere near as many outgoings and could save £1500 a month on that. Assuming you want to retire by 66, and you save up a nice chunk of deposit by 45, you've still got plenty of time to pay off a mortgage. Would be nice to have rich parents who can leave us with a free house, but life isn't that easy for most of us!

[@BudgetFoodieUK]

I know I am a nightmare in my kitchen always so messy! Xx hopefully I'll be ok in the future as long as I get a handle on the finances zx

[@SolihullSarah72]

Don't forget to include toiletries and cleaning products in your monthly budget X

[@BudgetFoodieUK]

Oooh yes almost forgot those, good shout! X

[@goodlifeliving1667]

You may also want to include rolling budget maybe space or pot for clothing/ shoes and accessories.

[@BudgetFoodieUK]

Yes excellent plan! X

[@LazieJane]

I’m going to have a go with the book . £1 on vinted (4.94 with post) . What’s the spine clinic ? I too have a lot of problems with my spine. I was being treated privately through health insurance with work but I’m self employed now and NHS is oh just do some exercises…

[@BudgetFoodieUK]

I found tjr same with NHS, the only time things improved was when I went private to thr noreoxh spine clinic. They were excellent, I got an x ray within two days, started going twice a week, then once a week, then once s fortnight now once a month. I see an osteomyologist and it's changed my life x

[@andreahall6007]

What's your marketing buisness? Nice to see a budget plan xxx

[@BudgetFoodieUK]

It's called Nurture Marketing and it's in Norwich x

[@joannetaylor2596]

You said at the beginning of the video your earnings don't attract Nat insurance or tax. Do you pay national insurance as this gives you entitlement to a state pension and Employment support allowance if you are not able to work due to ill health.

[@BudgetFoodieUK]

I pay £375 a month personal tax on my monthly dividend plus I have insurances aka critical illness x

[@paulamccarthy8197]

I need to do this but I’d not be left with much after everything, what brand of cat food do you use

[@BudgetFoodieUK]

It’s defo worth doing x

[@goodlifeliving1667]

What's does £39 bupa get you? Private gp?

[@BudgetFoodieUK]

Yes see here www.bupa.co.uk/health/health-insurance/comprehensive The only thing I use NHS for now is repeat prescription every two months for my Sertraline x

[@rosemarie-karma]

I'm about to lower the tone...am I the only one who thought the .00 written, looked like lil testicles?😮 My problem with having a lump saved to maybe buy multiple items was that I'd overspend. I now Cash Stuff and am managing far better. I think our employment contract ends today, Sunday, (security), but our actual employer has not given official notice 😡 However I have cash stuffed my bills, etc, so I'm okay for at least a month. I'm interested to see how you get on with the book. Result with your Internet.

[@BudgetFoodieUK]

Hahaha that is hilarious! Love ya xx

[@Mark-jb1fj]

Wow tax avoidance at its finest

[@BudgetFoodieUK]

I do pay tax my personal tax bill just came out at £4500, which I take out of my income, and I also pay circa £10k a year corporation tax (20% of everything) plus VAT