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Sealed pot approach - good idea for saving?
chal
Posts: 161 Forumite
I'm not entirely sure this is the best place to post this, but of all the forums this seems the best fit. Sorry if it should be somewhere else!
It seems to me that the cost of specific groceries generally don't go up much, if at all, from week to week, and at the same time there are frequently good offers (BOGOF, etc) on many things I buy on a regular basis. As part of my sealed pot challenge (and I *mean* sealed - it requires a can opener to get into
) I figured it would be a good idea to see what has been saved per grocery shop (Tesco gives you a figure for this on the receipt, and while it's frequently wrong due to how they seem to figure out their promotions it does at least show the minimum saving), take that saving and stick it in a sealed pot (or transfer that into a sealed savings account, if paying by debit card).
In theory, it's money that won't be missed because unless you factored the promotion into your budget you would have spent it anyway.
Does anyone else do this, and how well is it fitting with reality?
Thanks!
It seems to me that the cost of specific groceries generally don't go up much, if at all, from week to week, and at the same time there are frequently good offers (BOGOF, etc) on many things I buy on a regular basis. As part of my sealed pot challenge (and I *mean* sealed - it requires a can opener to get into
) I figured it would be a good idea to see what has been saved per grocery shop (Tesco gives you a figure for this on the receipt, and while it's frequently wrong due to how they seem to figure out their promotions it does at least show the minimum saving), take that saving and stick it in a sealed pot (or transfer that into a sealed savings account, if paying by debit card).In theory, it's money that won't be missed because unless you factored the promotion into your budget you would have spent it anyway.
Does anyone else do this, and how well is it fitting with reality?
Thanks!
Virtual sealed pot challenge #036 - 19/01/09-1/12/09 = £483.71/£750
Lightbulb moment: Feb. 2008
Lightbulb moment: Feb. 2008
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Comments
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Chal pop along to my thread .. the sealed pot challnege and take a look if you have not done so already. we are all saving up to dec 1st this year. Sealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.320
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Thanks - i'll repost in that thread.
Just to clarify - I posted this not to suggest actually saving in a sealed pot (I got that idea from thread titles over the last few days ) but as a suggestion for earmarking money to put in the pot.
Reposting in http://forums.moneysavingexpert.com/showthread.html?t=605703&page=179Virtual sealed pot challenge #036 - 19/01/09-1/12/09 = £483.71/£750
Lightbulb moment: Feb. 2008
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