The Twenty Percent – August update

It’s been a while since I’ve posted an official update on The Twenty Percent. That’s not because not much has been happening. Actually, it’s the opposite. Life has been so busy that it has been hard to have time to post as much as I would like.

I’m trying to be more disciplined in my posting approach and should have more updates for you all soon.

As we all know, the cost of living crisis is gathering pace, so personal finance is going to become even more important in the coming months.

In this August update I’ll cover:

  1. Life update
  2. Work update
  3. Cost of living crisis
  4. Financial goals update
An evening out with the pup

Life update

I always used to start my The Twenty Percent updates with work. But, I’m trying to operate on a ‘work to live’ mindset rather than a ‘live to work’ one. There’s so much more to life than work, but sometimes I need to remind myself of this.

Life remains very busy. Between socialising with friends and my boyfriend, dog walks, running and work, there is little time for sitting still.

Running remains a big priority for me. I know I feel so much better for exercising regularly and eating healthily where possible. Also, I enjoy pushing myself to new limits and seeing what I can achieve.

I finally dipped under 20 minutes for 5k and set a new 10k PB of 42.45 – both times I plan on improving.

Finding ways to socialise without spending too much money remains a challenge. I’ve started meeting friends for dog walks and inviting people over for dinner or drinks rather than going out. As fun as it is to go out, it’s beginning to get too expensive to justify except on special occasions.

Work update

Work has been busy and is likely to only get busier. Luckily, I really enjoy what I do and am progressing well. I currently manage a team of five and this is set to grow very soon.

Starting next month, I am taking on a new role at my current firm – a big promotion. We’re still agreeing the final terms so I can’t say too much at this stage, but it’s going to be a big step up.

The new role requires more hours and energy than my previous role. As a result, I’ve cut down on my freelancing a bit.

I am still keeping it ticking over though. I have come to realise how important it is to have secondary income sources. Employment is insecure and things can change at a moment’s notice.

One of my favourite projects at the moment is writing for All Things Money. Ola and I share many of the same values and views on personal finance, so it is amazing to be able to collaborate with her on her platform.

Cost of living crisis

The cost of living crisis is scary. Unfortunately, it’s only going to get worse. With the warmer weather and lighter days, it is possible to reduce energy bills at the moment.

Already, I’m making cut backs in my discretionary spending to make sure I stick to my budget each month. With a tank of petrol now costing me £75, some spending is going to have to be reduced to stay on target.

At the same time, I am acutely aware I am still very fortunate. I know I will be able to afford to eat and use electricity.

It is important to me to help those less fortunate. I am organising collections for my local foodbank and donating myself too. This may only make a very small difference, but if it helps even one family eat, it is worth it.

Financial goals update

My main financial goal is still to buy a house. I believe – as long as everything goes to plan – this should be possible in the next six to 12 months. But, it’s not going to be easy. Properties are still very expensive and there is not much on the market.

Aside from this, I am getting better at not hiding from my purchases and sticking to my monthly budget much more rigidly. Using Chase has really helped with this. I think my money management skills are improving significantly.

Last month, I bought my parents a smart TV as a joint birthday present. I managed to buy this and the bracket to mount it on the wall, without going over budget. This was a really big win for me.

Don’t forget to follow me on social media @Katie20Percent to keep up to date with all my latest posts.

Did you know I offer freelance writing services and personal finance workshops and talks for schools, workplaces and organisations? I also regularly feature in the media. Get in touch via or reach out on Twitter @Katie20Percent if you’d like to find out more.

If you found this post on The Twenty Percent August update interesting, why not post a comment below? How is your month going? What are your top financial goals currently? Comment your thoughts below, I’d love to hear them!

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