I hope your all having a great summer everyone. It's that time of the month where I like to discuss my personal finance over the last month. It's been a fairly quiet month, apart from the 'man flu' I had at the start, which was rather unpleasant. Anyway, without rambling further, let look at money matters over the course of July.
An increase in Emergency Fund:
I made the decision to remove £500 from my ISA and place £200 in my emergency fund, making £700 (six months expenses). The remaining £300 has been placed in a separate account, that may end up getting used after the completion of my 'no spend' challenge, in October, which I talk more about below. I am still very happy with my ISA amount, as It remains above my 2017 goal, but I plan on setting up an automatic monthly investment next month.
Tenerife Holiday taking down a peg:
I currently have two trips in the works, one is a month-long trip across the United States, which I shall discuss later this year. The other is a more conventual trip to Tenerife. It's been a very interesting two and half years, not to mention difficult. Two years of university, my depressive period, turning to minimalism, not to mention not having been on holiday for many years. I made a £250 payment, leaving a total of £407 to pay. The holiday will be fully paid by September. How much I'm taking as spending money is yet to be determined, I reckon around £300 will suffice.
Implementation of 'No spending' challenge:
Since June, I have been on a mission to change my spending habits. I gave myself the challenge of spending money only on 'non-consumable goods', experiences, and charity; no tech, no clothing. If you wish to read more on this challenge, check out my 'No spend challenge'. Up to now, everything is fine and dandy, but I can see me having to replace some things, come October.
Pretty quiet month, this month, which I prefer. Hope you all have a fantastic and profitable August.