End of May Financials - Just One Day Late.

At the moment (and a lot of people in some political parties would love to stop this but they daren't try for fear of losing all pensioners votes) State Pension goes up in April because..............

"Pension increases in the UK are generally calculated based on inflation, specifically the September-to-September Consumer Price Index (CPI). This increase is applied annually in April to maintain the purchasing power of the pension, with state pensions using a "triple lock" of the highest of inflation, earnings, or 2.5%."

 My first new payment was in May, the pension increase means my state pension is now around £11,560 each year (£12,548 is the full amount. I get less because I paid reduced NI for some years). Tax free allowance is £12,570 which means almost all my Suffolk County Council Spouses pension and almost  all interest on savings will be taxed at 20%. I get an SCC pension because Colin worked for SCC for 30+ years and then died and they kindly give me a % of what he would have got. My total income puts me in between the 'minimum' and the 'moderate' for one person according  to Retirement Living Standards  and probably in a much better position than many but much 'poorer' than we would have been had Col lived. The only discount there is on anything for being alone is 25% off Council Tax. 

To be in the 'comfortable' standard a single person  needs an income in retirement of £43,900!!! Ha!!

 May spending...........

The known extra spending for May was for two birthdays and car breakdown insurance. Regular outgoings were all the usual............Food of course, Council tax, diesel for the car- just once , monthly electric bill, charity donations, broadband and phones.

Not a lot spent for things in the house - kitchen roll and foil . Garden spending was a squash plant, sweetcorn plants and two replacement courgette plants, a scoop from a car-boot sale and growbags [and I got an extra one for Son and family and gave them my spare tomato plants so they could grow their own this year]. 

Someone asked about growbags .These are they!. Much easier for me to use now - I used to buy compost and fill big pots but compost bags are heavy and emptying the pots at the end of the season wasn't easy.. The grow bags say they'll hold four plants but that would be too many in my opinion. I've put two in each and sunk a flower pot in between for watering into. 

Other purchases in May included postage stamps, greetings cards from art sale and car-boots and Aldi had their wild bird food in middle aisle with three suet blocks for £2.59 - but I shouldn't have bothered because the starlings moved in en-masse and ate one in a day. 

(R.S.P.B now say to stop feeding birds through the summer because of the harm done to greenfinches through mouldy food but I'm leaving the starling proof sunflower hearts feeder - regularly cleaned -  for the blue tits and the Niger seed - in their special feeder for the goldfinches. Son said R.S.P.B Minsmere are now only selling suet balls and blocks, everything else put away until Autumn)

And here's why I'm keeping this feeder .............baby bluetits shouting for food atop the feeding station. Mum/Dad get the sunflower hearts and feed tiny bits to the babies.

Personal spending included a hair cut - now heading towards £20 a time, Keep Moving group, a Puzzler book, the scrapbook from the car-boot sale and second-hand books from various places. I bought both dry skin moisturising cream and suntan lotion.

Total spending wasn't too bad when added up - a lot less than income - which is always the best way to be.

Small savings during May

image from google freepik

• Lots of Batch cooking to stock the freezer
• Dishwasher only used every other day
• No alcohol etc 
• No food out or takeaways and no coffees out either- unusual - not sure why but  see the 😇!
• No make up etc bought
• No clothes/shoes needed
• No flowers bought
• Reading Library books for free
• Bread loaves made in the bread-machine 50/50 white wholemeal
• No newspapers or magazines bought except for the Puzzler
• Tumble dryer not needed all month
• Random food savings from boot sale finds - 4 cup-a-soups 50p, tin corned beef 50p, 40 tea bags 50p
• Birthday cards for the future found at boot sales
• Saved £30.99 by not taking a months subs to watch the French Open tennis - and as everyone British is out plus some of the other names I like to watch - it was a good saving.
• Saved a total of about £50 by not going to the Mid Suffolk Light Railway 1940's day - it was too hot and ditto the Suffolk Show.
• Took a load of all-sorts to car boot sale yesterday and came home with £61.

Looking ahead to June which used to be  one of the months with only one known extra - the garden waste bin fee. But then last year there was suddenly £20 to pay for car tax after the goalposts were moved - it fell into the 'No Car Tax' bracket when we bought it in 2017. But this year June also has a dentist visit - on Wednesday - fear is building!

Back Soon