These posts were originally posted on the YNAB forums and MoneySavingForums (a UK money management site), I am moving my journals across to WordPress to have them in chronological order, and because the YNAB forums are closing as of March 2022. I’m not sure how much of other people’s words I’m allowed to copy across from one site to another, so in some sections I may summarise conversations.
So I’ve remembered that next month is company bonus month, by my calculations I should be due somewhere in the range of £300, maybe £400? I struggle to work it out post tax but that’s what I got in 2018 and 2019. In 2020 I got more, about £900 bonus, but if I recall correctly there was something else going on with my salary then, a reimbursement for underpayment? So that might be skewing the figure.
Anyway I have specific plans for about £150 of it. There some bits online I’ve been wanting to buy, I can put a bit more towards the sims games than I thought I could and buy a luxury Easter egg 🙂
A friend of mine is trialling one of those investment apps, in the style of Robin Hood but can be used in the UK, and if she gets on with it for the next month then I’ll sign up for it as well next pay check.
Day trading is basically gambling but I’ve been wanting to dip my toe in investment waters for a while (even before the whole Robin Hood/GameStop/Wall Street Bets saga). I plan to set aside £50 (well, £51 because apparently you have to do an initial transfer to set it up) from the bonus to get started. As long as I have all my other bills covered I don’t see this as being any different than buying a lottery ticket. Well, I guess I don’t usually spend £50 on lottery tickets. But I wouldn’t put in £50 every month, most normal months I would expect to put in £5 to £10 like the amount I spend on lottery tickets.
So with all of that, the investment app, the vegan Easter egg, the sims game, other miscellaneous shopping, that should be £150 total.
As I said, I’m expecting somewhere in the range of £300, maybe £400.
I’m debating what to do with the rest. My initial instinct is to dump it all into various savings categories, hurry along the savings goals. That seems the sensible thing to do. But I also want to donate a bit to charity? I read a lot on the YNAB forums about people having “giving” categories and I do have a “charity/artists” category but I’m not able to fund it consistently. I very strongly believe in the “you cannot pour from a cup that’s empty” philosophy… but I don’t know if my cup is truly “empty” anymore… but it’s not exactly “full” either… but from what I read I don’t think you ever get done funding E-Funds and other true expenses so I can’t exactly wait until I am “full”.
Anyway I have a month to think on it. And it likely depends on how much the bonus is, the more I get the easier it is to find some to set aside.
Oh! The other thing I forgot to say. My birthday came up in conversation with my family so I took the opportunity to plug my Amazon Wishlist. That sounds bad, but I want to make as easy for them to remember as possible after they all forgot last year. Now they have a literal list of things I want, and I intend to mention it in a few weeks as well to give them another prompt.