February 2022 Money Breakdown

2022 is flying by! I feel like the older I get the faster the years go by. A new month only means one thing… it’s time to reflect on last month’s spending! So let’s get into my February money review.

February felt like a very busy month for me, both socially and academically. I literally have four weeks left of my degree – how is that possible!! – so I currently spend most of my time in the library writing essays 😅

What is a money breakdown?

I started sharing my monthly money breakdowns last month because to be honest this is the type of content I like reading. Within it, I share every single penny that came in and left my accounts during the month and share some reflections on it.

Why do I share my spending and income?

You may be asking yourself this question as you may think it is kinda weird to share this online. But the best way to break a taboo is to talk openly about it so here we are! Plus this is the type of content that I wanted to see before I went to university! 

SPENDING

I have changed it up from last month (wasn’t too keen on how it turned out!) and have broken down my spending into categories. This month was a light spending month, so I only have six different categories. 

For context – I pay rent termly (January, April, October) so that hasn’t been factored in and for transportation I use the bus (yearly bus pass bought in October 2021) or walk.

Eating out = £86.88

Honestly, I thought this was going to be much higher this month! One of my best friends had her birthday at the start of the month so we went out for a fancy meal at the Ivy to celebrate. This was worth every single penny – such a lovely evening and the food was amazing! This total also includes two other meals out with friends and any food that I brought on campus during the month – which was much more than usual!

Gifts = £20

I sent my friend a voucher to her favourite pizza place for her birthday. This came out of a sinking fund I have set up for any birthday related costs.

Social = £43.80 

This category is much higher than usually because I was invited last minute to go and see Bastille by a friend. Unfortunately, the person she was going with got covid. Considering this includes concert tickets and a hotel for the night this is not bad at all! Plus, we had a great night away.

Groceries = £19.32

Way under budget this month because I focussed on shopping my cupboards first! I had a lot of cupboard essentials already in so only needed to buy extra ingredients to make meals. Plus, I ate on campus more than usual!

Entertainment = £34.62

This can be broken down into three different purchases; £18.19 on subscriptions (Spotify and my book club), £5 for a cinema ticket for galantines and £11.43 spent on a book 🤦🏼‍♀️

Transportation = £4.80

My friend and I had to get the bus back from Preston (where we went to see Bastille) and our bus passes did not cover this area, so we had to buy tickets 😅

TOTAL SPENDING = £209.42

In comparison to January, my spending this month is much lower, but this paints a truer picture. Overall, I am very happy with my spending this month. The majority was spent on experiences which is what I value over anything else. Although I do regret the £11.43 spent on a book – it was not worth it!   

Next up in my February money review, let’s get into how much I made…

INCOME 

I think spending reports are much more valuable when income is included, as it puts it into context. As a full-time student, I get a maintenance loan to cover my living costs – this is paid termly (every four months). When this comes into my account, I split it up into various sinking funds to last the entire four months. Meaning everything spent this month came out of one of these pots. So everything I was paid in February went straight into savings. 

Bursary = £500

I get paid a bursary twice a year from my university because I come from a low-income background. However, I am fortunate enough to not need this money for my living costs, so I save every penny. This time, £470 went straight into my stocks and shares ISA – maxing it out for the tax year 🎉 The remaining £30 went into my gap-year fund which is now my saving priority.

Bank Interest = £1.05

Interest rates are still depressingly low (the key reason that the majority of my money is invested) but this is completely passive income! And as they say every penny counts.

Job #1 = £652.35

I currently only work two days a week because my course load is very intense this term! But this income is a nice boost to my savings.

Job #2 = £29.96

My second job pays out monthly – meaning that I got paid at the end of February for work I did in January. This system means that by the time I get paid I have long forgotten doing the shifts, especially because it is so infrequent. This got transferred straight into my gap-year fund.

TOTAL INCOME = £1,183.36

This was a relatively normal month in terms of both my income and spending with nothing out of the ordinary happening – well expect that last minute concert trip 🤩

So that’s it for my February money round-up! How did your month go? Were you happy with your spending? I’d love to know!

Enjoyed my February money review? Why not check out my previous money breakdowns:

2020 Roundup

2021 Roundup

January 2022