Simple Pound

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I’ve been working on a separate page (the menu gets a second entry!) whose only purpose will be to show a detailed overview of my financial (sub-)goals and the progress I’m making with them. Updates can be expected towards the end of every month.

At the moment it looks rather dim but let’s face it - I’m a student, I don’t have any income and I live hand-to-mouth. I have however, been keeping track of all my expenses since January this year, and by doing this I am continuously monitoring my spendings - which is a first step to actually cutting unnecessary costs.

The page shows everything from the outstanding balances on my credit card (oi, stop judging! I have already reduced this by 70% in the last 3 months…) to the progress of my emergency-fund and my ISA contribution for the tax year 2007/08.

It also shows the progress on the “unnecessary savings”, i.e. those that I don’t intend to accumulate in the long run. That includes money for travelling (I haven’t done much of that while I was at Uni - other than going home to visit my parents, so there’s definitely some catching up to do!), a car (I know I don’t need one in London - so?) and eye laser surgery to get rid of my contact lenses, which will cost me between £2000 and £3000.

Once it’s actually worth displaying (i.e. once I have a job and regular income) I’m also going to show a little graph in the side bar that represents my net worth with respect to some overall goal that I haven’t decided upon yet… Many other people dedicate whole blogs to becoming a millionaire, but I think that might still be a little far-fetched at the moment - especially since a million pounds is worth so much more than a million dollars!

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