It's been a mixed month this month, what with having holiday spending money to find from the budget, although this wasn't too difficult. I tried to keep within budget for groceries and other items, but most areas have gone over budget slightly.
After an expensive August, on account of wedding/birthday gifts, September was relatively easy and inexpensive by comparison. I have, however, now started putting my mind to thinking about Xmas shopping and buying the odd small gift here and there, utilising money that I have been setting aside each month since last Xmas. This is the only way that I can afford to buy gifts, when I'm on such a low income and not working, but the budgeting has worked well and I already have enough to cover Xmas gifts this year.
The main financial priority this month, has been applying for a couple of workplace pensions, that I will reach the age to receive next month. This hasn't been a particularly easy process, but I'm looking forward to the time when they start to be paid out. I don't think I'll receive either of them in October, but hopefully I should receive something by November.
I have also applied for a 60+ Oyster card this month, which will allow me free off peak (i.e. after 9am) travel all over London. It costs £36 initially and then £18 per year thereafter, but it should be very useful to me going forward and will make having days out and about much less expensive, particularly in combination with my new National Trust membership.
It's definitely been a month of financial applications and paperwork. In all honesty, I have found all the paperwork quite complex and frustrating, but it is necessary and I guess it kind of represents a transition to a different phase of my life.
As a consequence of the above, and the fact that the savings I was using to pay myself each month have now run low, I will have a slightly lower income in October, but thanks to some dividends that came in, this won't be too much lower. I'm sure I'll manage. Once my pensions come through, I'll no longer need to use savings as income, unless I choose to, which will be a good thing.
I cashed in a small private pension in August and I'm going to use this to pay myself a little extra each month from October onwards. It should last until I receive my state pension in 7 years time. It will make a small, but positive difference to my finances going forward.
Talking of my state pension, I did find a statement that I forgot I had the other day and which projected a slightly higher state pension than I thought I was going to get, which was good news. I'm not going to have a huge income in retirement, but hopefully I'll get by okay.
As October is the month of my 60th Birthday, I'm going to try to cut down on non-essential purchases (particularly clothing) for the month and will probably continue with this until after Xmas. I know this will be quite difficult for me, as I've developed quite a charity shop habit when I do the weekly shop, but I think I have quite enough clothing for the moment. Besides, any money saved can go towards LB's birthday gift in January.
The only things I may invest in over the next few months are a new pair of trainers for the gym and some new bras, as my current ones are getting a bit scruffy. I may ask for these as Xmas or birthday gifts. I haven't got any large expenses on the horizon next month, which is a good thing, save for the allotment fees, which will be due and are usually about £35.
Instead of spending money, I'm going to try to focus on tidying up the garden and the allotment, (including painting and putting up the new greenhouse) as the season has almost come to an end, do a wardrobe changeover, so that I feel like I've got lots of different new options of things to wear and maybe do some more clothing alterations on some items I'm not quite happy with, before I put them away until next summer. This will mean that they are ready to go when I get them out again next spring. I may also try to do some dressmaking, but I've said this before and not actually managed to do any, so we'll just have to see how this goes.























