💰My biggest expense is my mortgage, but I managed to lock in a low rate during the pandemic.
💡I prioritize experiences over material possessions, which is why I spend on activities and gifts.
🛍️I've cut down significantly on shopping for clothes, focusing on specific purchases only.
🚖I spend a fair amount on Ubers for convenience and safety, especially when traveling alone at night.
💵Savings are important to me, and I focus on big-ticket items like lowering my mortgage rate and investing.
What are the biggest expenses in London?
—For me, the biggest expenses are my mortgage, utilities, council tax, and travel costs.
Do you prioritize saving or spending?
—I prioritize both. I save a large portion every month while still allowing myself to spend on experiences and gifts.
How do you manage living expenses in an expensive city?
—I focus on the big-ticket items and try to lock in low rates for things like my mortgage. I also invest my savings for growth.
Why do you spend on activities and gifts?
—I believe in creating memories and experiences rather than accumulating material possessions. It brings me happiness and fulfillment.
How do you balance wants and needs in your budget?
—I prioritize my needs like mortgage and utilities, and then allocate a portion for wants like eating out and activities.
00:00In this video, I break down all the money I spend in a month and how I manage my expenses in London.
01:13I have fixed expenses like mortgage and utility bills, which I consider as my needs.
03:00I also have wants and spend on subscriptions, Ubers, eating out, and activities.
04:50Gifts are a recurring expense for me, including birthday and wedding presents.
05:50I prioritize saving and focus on big-ticket items that have a significant impact on my finances.
