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Balancing the budget #Finance Friday

I missed my thrifty post again this week because I had a busy day again yesterday. January for many people isn’t about bargain hunting but about financial survival. Now we are into February and just past the halfway point of winter, we need to think about winter fuel bills. We also have to think about balancing the budget and make sure no more money goes out than comes in. If we treat our finances like a business we can also watch cash flow and perhaps use a credit card to delay certain payments.

balancing the budget

Cash flow

I used my credit card to limit the amount of cash going out of my bank account last month but I’ll pay it off on Tuesday. The payment is already scheduled for one day after cash is going into my account. It costs nothing to use the credit provided by a card for a short period so you have available cash in your account should you need it. I have sold some investments and it it is easy to move cash from my investment account.

Investments

It was a fairly flat week for investments and most eyes have been on the new Trump administration and the risks posed by that. Today, my portfolio is looking a little healthier as Solo Oil makes some gains. The market makers have been playing games with the spread all week increasing it to as high as 20%. The cut today down to 6.98% is still unrealistic but people are still buying. There have been about 7 million shares bought this morning. That’s still not many and only amounts to £32,000 in value. When there is a gas show, we could see the share price soar. I’m inclined to think it could go past 1p a share and maybe as high as 6p. That would be nice!

Brexit

Brexit is still having an effect with companies like GSK benefiting a little from the low value of the pound and other companies suffering as a result. Retailers are struggling especially those in fashion and clothing importing from the far east. There will have to be some industry-wide price rises in the fashion stores or we will see some of the discounters going out of business. The likes of Next and Debenhams could have their profits squeezed this year. Matalan could have serious problems as could Primark.

Balancing the budget

I’m looking to change my car this year and so the new registrations in April could drive sales of new cars and put a new supply of used cars on the market. I’ll wait until April when I have a few bills out-of-the-way and prices will have fallen a little bit. I usually prefer to buy privately but this time I might be forced to buy from a dealer.  That gives some added protection if there is a decent warranty. I shall be paying attention to balancing the budget in the meantime so I can afford that.

Those are my thoughts on finance for this week. If you would like to follow my blog just enter your email address at the top of the sidebar or follow me on Twitter for updates. There are also links on my Facebook page.

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