Being that I only started working full-time in January last year after finishing my degree, I never had a real income until then. My parents gave me a loan to pay for the deposit of my apartment, furniture and the first two months of rent (as I did not receive a full salary until the end of my second month living here). It added up to quite a bit and I am still paying them back.
Adding to that that I have on occasion skipped payments when I had too many other expenses that month, and it will still be a while until I have paid them back in full – roughly a year and a half if I make my payments every month. A little over half of my income goes to those back-payments and rent. Rent here is super cheap compared to my hometown, but apartments are hard to find so I ended up with an amazing but oversized 2-bedroom apartment.
I also have to admit that I am not really good with money. I like to go shopping, I spend too much on lunch at work (instead of cooking my own meals, I usually buy a ready-made one at the local grocery store), and when I am in Munich for the weekends, I spend too much money on eating out. And let’s not forget those nearly-monthly flights to Scotland (flights have been €70-100) plus train tickets to get myself to the airport (that’s another €40).
So while I do not have a huge amount of money each month, I could be doing loads better if I was more sensible with money. I haven’t managed to save up anything in the past 1 1/2 years.
Knowing that I want to move to the UK in just 7 short months though, I realize that I finally need to grow up and start building a small savings cushion. I do want to continue making payments to my parents at the same time, so I will not be able to save up a lot, but I want to try to put aside €100 for every month until March.
I have no idea how my job search will go and I may well move to the UK without a job lined up. While I will be living with my boyfriend, I do not want to have to rely on him for everything, so I want to be able to pay for food and other basic things with my own money.
I do know what I spend a lot of money on and where I can cut down on my spending. I have downloaded a budget app to track my income and expenses, so hopefully I will make this work. I will just have to be strict with myself and not buy everything I like.
Everything I buy now I will have to either get rid of or take to the UK in half a year will help me curb my spending. I think I will be shipping some of my things just because I cannot possibly move there with just one or two suitcases, and I will probably be able to store a few things at my parents’ house, but shipping things will be expensive so I cannot ship everything.
I have started using the app already, and I am planning to start budgeting properly in September, hopefully I will be able to save up as much as I am planning, but I am positive.