Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • kerri_dfw
    • By kerri_dfw 20th Jan 12, 1:27 PM
    • 4,556Posts
    • 29,115Thanks
    kerri_dfw
    Second Purse Challenge 2012
    • #1
    • 20th Jan 12, 1:27 PM
    Second Purse Challenge 2012 20th Jan 12 at 1:27 PM
    I thought I'd compile a thread for anyone wanting to start motherships second purse system as a challenge

    If you wish to sign up then state what your dream item that you will buy with your saved £'s will be and how much it costs. I will allocate you a number and as your 3rd purse grows I will update the total until you post to say that you have achieved your dream item and would like to set a 2nd dream item as your next target

    How the 2nd purse works:

    Second purse example spreadsheet

    If you'd like to do the 2nd purse challenge it's really quite simple and you can start small. You can even download a copy of the above spreadsheet for your own use, or use your own or even paper and pen.

    For this to work effectively, imagine you are two people, firstly a shopkeeper, secondly a customer. Your 2nd purse is the shop till, your 1st purse is your grocery budget, the 3rd purse is the cash office where the money is stored when there's too much in the till before being spent or saved.
    This is how the 2nd Purse works 1st Month
    Add £10. Spend £10 on offers B1G1F or Half Price.
    Your Stock is worth £20.
    You use £5 worth, that’s what you pay back, your stock is worth £15

    2nd Month
    Add £10 to the £5 you paid back, you now have £15 to spend on offers.
    Spend £15, your stock is now worth £ 45
    If you use £10 worth, and pay that back when you get paid.
    You will have £10 in 2nd Purse. £35 of stock

    3rd Month
    Add £10 to the £10 you paid back, you now have £20 to spend on offers.
    Spend £20 , your stock is now worth £75
    If you use £20 worth, and pay it back when you get paid.
    You will have £20 in 2nd Purse. £55 of stock

    4th Month
    Add £10 to the £20 you paid back, you now have £30 to spend on offers.
    Spend £30 , your stock is now worth £115
    If you use £25 worth, and pay it back when you get paid
    You will have £25 in 2nd Purse . £90 of stock

    5th Month
    Add £10 to the £25 you paid back , you now have £35 to spend on offers.
    Spend £35, your stock is now worth £160
    If you use £30 worth , and pay it back when you get paid
    You will have £30 in 2nd Purse. £130 in stock.

    6th month
    Add £10 to the £30 you paid back. You now have £40 to spend on offers
    Spend £40, your stock is now worth £210
    If you use £40 worth, and pay it back when you get paid.
    You will have £40 in 2nd Purse. £170 in stock.

    7th month
    Add £10 to the £40 you paid back. You now have £50 to spend on offers
    Spend £50, your stock is now worth £270
    If you use £50 worth, and pay it back when you get paid.
    You will have £50 in 2nd Purse. £220 in stock

    8th month
    Add £10 to the £50 you paid back. You now have £60 to spend on offers
    Spend £60, your stock is now worth £340
    If you use £60 worth, and pay it back when you get paid.
    You will have £60 in 2nd Purse. £280 in stock.

    I think this is the easiest way to show how the 2nd Purse works, you don’t always spend all money in the 2nd Purse every month. So I’ve not allowed for that, or that some of you already had a good starting stock.
    The 2nd Purse is the working part of the idea, don’t be afraid to spend this on bargains. Let it flow.
    I know some of you don’t want to PAY full price for anything, even to yourself.
    As long as you got it at a good price to start with. That’s what you’ve paid. That amount can never go up.
    Remember once the money goes into the 2nd Purse it can only make you stronger, more money , more stock = Less of your hard earned money going to the SM.
    Once they have it its lost, if you have it, whether in stock or in the purse , you STILL
    have it!

    The idea works because the money your making is going round and round, Spend £10 make £10, spend £20 make £20, spend £40 make £40. And so on. You are re-investing your savings in YOU!
    Originally posted by Mothership
    When you have a set amount in your 2nd purse, mine's £100, then you move anything over this into the 3rd purse to save up and spend as you choose

    Mothership's 2nd Purse system - check out these posts

    Please read the two posts for the weekly shop example to get a good idea how Mothership has managed to cut her weekly grocery shop using the 2nd purse system
    Motherships typical weekly shop example post 1
    Motherships typical weekly shop example post 2

    My other purse
    Purse/Bank
    tip 1
    2nd Purse
    Bogofs etc
    more info

    Useful Links
    Grabbits board
    Food Shopping & Groceries
    Shop but don't drop
    Donald Russell for bulk meat (links to motherships post) - free delivery code = win12e1530
    Camelcamelcamel to check for price fluctuations in the rainforest
    mysupermarket to check the big 5 for prices
    Just Linen discount excellent quality bedding
    When updating your amounts please put it BIG AND BOLD so I can spot it on the thread. If you spot a bargain please also put this at the bottom of your post big and bold and I'll add it to post #4.
    When giving a total please also include your number. For example:
    #001 £31.54/£242.79
    Last edited by kerri_dfw; 22-03-2012 at 9:45 AM.
    Diary: Getting back on track for 2013 and beyond
    DEBT FREE 13-10-13
    Beautiful daughter born 11.1.14
    Mortgage: £399,435.91 £377218.83
    Deposit loan from Dad: £9000£10000
Page 1
    • kerri_dfw
    • By kerri_dfw 20th Jan 12, 1:29 PM
    • 4,556 Posts
    • 29,115 Thanks
    kerri_dfw
    • #2
    • 20th Jan 12, 1:29 PM
    List of participants and the items they've bought with their 3rd purse
    • #2
    • 20th Jan 12, 1:29 PM
    #001 kerri_dfw | Beana Castle
    #002 jakes-mum
    | SOS Supermarkets | bike show tickets
    #003 eveie189

    #004 HelenPie
    | Helen's Hideaway
    #005 Mothership
    | Suzie's Cafe
    #006 Skintmum2012
    #007 eddi
    | Spend A Penny
    #008 fozziebeartoo
    | Sallys Stores £60+ of yankee candles and body shop goodies
    #009 cw18
    | NETSA
    #010 tiff

    #011 dreamerbea
    | Open All Hours
    #012 sam09
    #013 tasha7

    #014 mrs addicted to spending
    | Stock-a-lot
    #015 florenceem
    | Nannie's Stash
    #016 coxy11
    #017 always happy
    | arkwrights emporium
    #018 polkadot
    | Polkadot Palace
    #019 SueP19 | SuePees Stash
    #020 debtfreewannabe321
    | S.P Empire
    #021 ess-six | The Tardis
    #022 been counting
    #023 jarus
    #024 XSpender
    #025 p-pincher
    #026 elizabunny | KTPI Emporium| replacement oven door
    #027 luckycharlie | Maggies Den
    #028 mumwithamission | The Loft Shop
    #029 lynn2302 | Lynn's Corner Shop
    #030 WelshDreamer
    #031 Rachbc | Bizaare Bazaar
    #032 Annie 99 | BallyAnnies
    #033 bunbun2 | The old curiosity shop
    #034 keys
    #035 *zippy*
    #036 muppet baby | Muppet Market
    #037 MunniMuncher | MunniMart | Vacuum food sealer, meat slicer
    #038 mumof3plusoh
    #040 Muffin Man 7
    #041 Sunflower1227 | Suns Flower Shop
    #042 Kahunababy
    #043 Savvybunny2009
    #044 Flying Fresian crafty pens & week off spends
    #045 roguexuk
    #046 tracey12
    #047 rosielady
    #048 scrabbles

    #049 marrbett
    #050 shazzer73
    #051 NotYetMrs
    #052 acl2009
    #053 trying hard
    #054 each peach pear plum

    #055 PrincessLou

    #056 RosyQ | QMart
    #057 Little K
    #058 ChelseaBun
    #059 JillyStew2008
    #060 Maisie M
    #061 Skilly
    #062 Mossy
    Last edited by kerri_dfw; 07-09-2012 at 7:13 PM.
    Diary: Getting back on track for 2013 and beyond
    DEBT FREE 13-10-13
    Beautiful daughter born 11.1.14
    Mortgage: £399,435.91 £377218.83
    Deposit loan from Dad: £9000£10000
    • jakes-mum
    • By jakes-mum 20th Jan 12, 1:38 PM
    • 4,263 Posts
    • 41,309 Thanks
    jakes-mum
    • #3
    • 20th Jan 12, 1:38 PM
    • #3
    • 20th Jan 12, 1:38 PM
    ill join!! I want an actifry £0 / £130 (i think)
    SPC No 002 SPC(3) £285/£250 (4) £519.84/£500 (5) £768.32/£500 (6) £911.30/£600 (7) £913.23/£600 (8) £1184.82/£750 (9) £2864.04/£750 (10) £1800/£1000
    Total Wins Of 2012 = £3015.03 Wins Of 2013 = £4427.11 Wins of 2014 = £2361.97 Wins of 2015 = £1754.90 Wins of 2016 £267.98 Wins of 2017 £25
    • kerri_dfw
    • By kerri_dfw 20th Jan 12, 1:40 PM
    • 4,556 Posts
    • 29,115 Thanks
    kerri_dfw
    • #4
    • 20th Jan 12, 1:40 PM
    Current bargains
    • #4
    • 20th Jan 12, 1:40 PM
    Spreadsheet of SM offers (google docs suitable for all machines)
    I try to update this as much as possible with the current offers. There is a sheet for the current offers, a sheet for previous offers and a sheet for keeping track of average item prices.

    If you wish to update the spreadsheet with an offer you find please feel free to do so and enter as much information as possible. When recording the shop name if you could try to keep the case similar then the colour coding will kick in helping us to identify where the offer is.

    If an item is no longer available please move it to "gone off" so we can keep a track of when a good offer comes in, I will check these items every Wednesday to see if a better or similar item has come in under the radar.

    If you wish to record an item on the spreadsheet please check the "gone off" to see if the item has been on offer previously. If it has then remove from the "gone off" sheet and post on the "offers" sheet. If it's not on the "gone off" sheet then please check that it's not on the current offers sheet. If it's a better deal than a current one on there then please overwrite the current entry.

    You can filter the spreadsheet using the little arrows on the top of the column to help you search for items quickly. The items are also listed in categories so you can target specific areas of your shop.

    Hope that makes sense.

    Below I have recorded the price change days for reference.
    Going, going, gone
    Special days


    Lido (Thursday)
    MSE Lido weekly offers thread Mr C 25th - 14th feb (Wednesday)

    Mr M (Monday)

    Mr S (Wednesday)

    Mr A (Monday)

    B0*ts

    Mr MS

    Mr T (Tuesday)

    Mr W (Wednesday)

    Mr I
    Last edited by kerri_dfw; 01-02-2012 at 12:41 PM.
    Diary: Getting back on track for 2013 and beyond
    DEBT FREE 13-10-13
    Beautiful daughter born 11.1.14
    Mortgage: £399,435.91 £377218.83
    Deposit loan from Dad: £9000£10000
    • jakes-mum
    • By jakes-mum 20th Jan 12, 1:47 PM
    • 4,263 Posts
    • 41,309 Thanks
    jakes-mum
    • #5
    • 20th Jan 12, 1:47 PM
    • #5
    • 20th Jan 12, 1:47 PM
    Now I have to go buy some purses oooo I love a challenge ive just used up my stockpile of beans actually co-op had them on 2 packs of 4 for £3 and then some silly teenager brought out the packs that had 2 cans free . . . we helped ourselves to the entire crate that was back in august looool
    SPC No 002 SPC(3) £285/£250 (4) £519.84/£500 (5) £768.32/£500 (6) £911.30/£600 (7) £913.23/£600 (8) £1184.82/£750 (9) £2864.04/£750 (10) £1800/£1000
    Total Wins Of 2012 = £3015.03 Wins Of 2013 = £4427.11 Wins of 2014 = £2361.97 Wins of 2015 = £1754.90 Wins of 2016 £267.98 Wins of 2017 £25
    • eveie189
    • By eveie189 20th Jan 12, 1:54 PM
    • 299 Posts
    • 2,881 Thanks
    eveie189
    • #6
    • 20th Jan 12, 1:54 PM
    • #6
    • 20th Jan 12, 1:54 PM
    OOOH, please can I join. So far I have £0 of £150 for a new bike. It would be lovely to be able to just buy one without having to get credit.

    Ta
    Eveie
    • jakes-mum
    • By jakes-mum 20th Jan 12, 2:02 PM
    • 4,263 Posts
    • 41,309 Thanks
    jakes-mum
    • #7
    • 20th Jan 12, 2:02 PM
    • #7
    • 20th Jan 12, 2:02 PM
    Ok now I already have a question when I use an item from my stockpile can I return the original purchase price to my 1st purse for use on the next multibuy and transfer the 'saving' from not buying individually to my second purse? This way I can gradually up how much ive got in purse 1 for bargain buying, and when I have enough money my actifry would essentially be free which is my favourite cost

    Oh and an actifry is a chip fryer that uses 1tbsp of oil but still cooks like its deep fat frying them so chip shop chips without all the grease
    SPC No 002 SPC(3) £285/£250 (4) £519.84/£500 (5) £768.32/£500 (6) £911.30/£600 (7) £913.23/£600 (8) £1184.82/£750 (9) £2864.04/£750 (10) £1800/£1000
    Total Wins Of 2012 = £3015.03 Wins Of 2013 = £4427.11 Wins of 2014 = £2361.97 Wins of 2015 = £1754.90 Wins of 2016 £267.98 Wins of 2017 £25
    • HelenPie
    • By HelenPie 20th Jan 12, 2:12 PM
    • 502 Posts
    • 5,205 Thanks
    HelenPie
    • #8
    • 20th Jan 12, 2:12 PM
    • #8
    • 20th Jan 12, 2:12 PM
    Can I play, too?! I'd like a dvd player

    I suppose it's almost as though you're running your own little 'shop' and buying from yourself. I think that's how I'll need to think about it.
    Debt Free By Xmas 2013 #010 £16,660.26/£16,660.26 100% paid, DFD 25/06/13!
    • kerri_dfw
    • By kerri_dfw 20th Jan 12, 2:25 PM
    • 4,556 Posts
    • 29,115 Thanks
    kerri_dfw
    • #9
    • 20th Jan 12, 2:25 PM
    • #9
    • 20th Jan 12, 2:25 PM
    Ok now I already have a question when I use an item from my stockpile can I return the original purchase price to my 1st purse for use on the next multibuy and transfer the 'saving' from not buying individually to my second purse? This way I can gradually up how much ive got in purse 1 for bargain buying, and when I have enough money my actifry would essentially be free which is my favourite cost

    Oh and an actifry is a chip fryer that uses 1tbsp of oil but still cooks like its deep fat frying them so chip shop chips without all the grease
    Originally posted by jakes-mum
    I guess you can do it however you like The 2nd purse is the purse you do all your multibuy purchases from. So see a BOGOF for £3.99, take that out of your 2nd purse. Then put £7.98 back into your 2nd purse when they're used. Then when you get to £100 you can take out anything extra as the £100 is your 2nd purse float.

    I've put links on the first post written by mothership who explains it a bit clearer I think.

    Basically your 1st purse is your normal grocery shop, 2nd purse for your stockpile goods, 3rd purse your dream item. This is why you put £10 into your 2nd purse to start you off and keep putting £10 in a month until you reach the £100 float.

    helenpie, I see it as my own little shop too I keep my items in my wardrobe, so I have to push my way through the clothes (crowds) to get the goods hehe
    Diary: Getting back on track for 2013 and beyond
    DEBT FREE 13-10-13
    Beautiful daughter born 11.1.14
    Mortgage: £399,435.91 £377218.83
    Deposit loan from Dad: £9000£10000
    • HelenPie
    • By HelenPie 20th Jan 12, 2:31 PM
    • 502 Posts
    • 5,205 Thanks
    HelenPie
    Do you have an actual pot of money that you keep separately or do you just do it virtually?

    Sorry - I will go and read the other links!

    H x
    Debt Free By Xmas 2013 #010 £16,660.26/£16,660.26 100% paid, DFD 25/06/13!
    • jakes-mum
    • By jakes-mum 20th Jan 12, 2:36 PM
    • 4,263 Posts
    • 41,309 Thanks
    jakes-mum
    See now you knew I meant 2nd and 3rd purse not 1st and second right I think ive got it now, I pay back my 2nd purse, this is where I was getting confused as I thought 'well if I pay myself all the money when I use something im also pocketing what the item cost me in the first place so im kind of just nicking money out the food budget for something I want' makes much more sense now and ive procured a purse miss lily got as part of her birthday present . . well its been abandoned on the floor so she obviously is very attached to it that can be my 'dream' purse . . . just need one for multibuys now
    SPC No 002 SPC(3) £285/£250 (4) £519.84/£500 (5) £768.32/£500 (6) £911.30/£600 (7) £913.23/£600 (8) £1184.82/£750 (9) £2864.04/£750 (10) £1800/£1000
    Total Wins Of 2012 = £3015.03 Wins Of 2013 = £4427.11 Wins of 2014 = £2361.97 Wins of 2015 = £1754.90 Wins of 2016 £267.98 Wins of 2017 £25
  • Mothership
    Thats exactly what it is your own little shop, only you get the profits. Your also your own bank.

    One of the things I found most helpful when I first started the 2nd Purse all those years ago, was if I ever needed money for something, it was there in the 2nd Purse. It saved my neck many a time especially when my children were young and always needing something.

    Thank you for setting up the thread Kerri.

    Just a thought, why don't we list the things we buy, where we get them and at what cost at the foot of our posts so that everyone knows there's a bargain to be had ( and put it in bold).

    I check regularly for items for my stockpile. I can go into a supermarket now and walk out with the offers and any whoopsies I can use. That feels sooooooo good.

    Good Luck!

    Last Year I set up a separate account with its own switch card with the 2nd and 3rd Purse money in it. Its working really well. I put all the multi buy purchases through the checkout separately, and transfer over what I owe the purse at the end of the month along with the £10 for the month.
    Last edited by Mothership; 20-01-2012 at 2:57 PM.
    1st Purse £114.19 Monthly GB
    2nd Purse ££100
    Fridge Freezer £300 3rd Purse /£290.94
    • kerri_dfw
    • By kerri_dfw 20th Jan 12, 2:40 PM
    • 4,556 Posts
    • 29,115 Thanks
    kerri_dfw
    I should have left another post for that, then we could have a weekly offers list. I'll use post #4 for that for now and update it as regularly as I can, I am on the pc every evening at least.

    Ok post #4 setup with current offers. I've stuck on my baked beans one. I don't know of any others at the moment.
    Last edited by kerri_dfw; 20-01-2012 at 2:43 PM.
    Diary: Getting back on track for 2013 and beyond
    DEBT FREE 13-10-13
    Beautiful daughter born 11.1.14
    Mortgage: £399,435.91 £377218.83
    Deposit loan from Dad: £9000£10000
    • skintmum2012
    • By skintmum2012 20th Jan 12, 2:42 PM
    • 458 Posts
    • 2,893 Thanks
    skintmum2012
    Count me in I was going to try to do this anyway doing it as a challange it much more fun Can't really think of anything I want though :S I guess what I would really like is to spend lots on the kids at X mass so I will safe anything over £100 for them
    • kerri_dfw
    • By kerri_dfw 20th Jan 12, 2:58 PM
    • 4,556 Posts
    • 29,115 Thanks
    kerri_dfw
    HelenPie I spent £70 odd before I even knew about the 2nd purse stocking up on a few bargains so I've counted that as money into the purse, then money straight out of the purse. I have been transferring money from my bank account into my saver this week when I've used stockpile items, then when I go to lido to get more beans later, I'll move money out of the saver into my bank account to cover the cost.

    Example:
    1 pack beans £0.99 in lido
    2nd purse transfers £0.99 to first purse so I can trundle off to lido for beans
    1st purse buys beans

    eat beans
    1st purse transfers £0.64 (current price) to 2nd purse

    But if you have physical purses then you don't need to do the initial money transfer when you buy the beans
    Diary: Getting back on track for 2013 and beyond
    DEBT FREE 13-10-13
    Beautiful daughter born 11.1.14
    Mortgage: £399,435.91 £377218.83
    Deposit loan from Dad: £9000£10000
    • HelenPie
    • By HelenPie 20th Jan 12, 3:01 PM
    • 502 Posts
    • 5,205 Thanks
    HelenPie
    Sounds good to me!

    Thank you for setting this up Kerri, and thanks Mothership for sharing the idea and all the help in your other posts.

    I will start when I next do my monthly transfers on 25th (payday). Is it a bit sad that I'm excited?!


    Helen x
    Debt Free By Xmas 2013 #010 £16,660.26/£16,660.26 100% paid, DFD 25/06/13!
    • kerri_dfw
    • By kerri_dfw 20th Jan 12, 3:03 PM
    • 4,556 Posts
    • 29,115 Thanks
    kerri_dfw
    Sounds good to me!

    Thank you for setting this up Kerri, and thanks Mothership for sharing the idea and all the help in your other posts.

    I will start when I next do my monthly transfers on 25th (payday). Is it a bit sad that I'm excited?!


    Helen x
    Originally posted by HelenPie
    Nope not at all, I've got to go find some more shelves to put the stuff on now.
    Diary: Getting back on track for 2013 and beyond
    DEBT FREE 13-10-13
    Beautiful daughter born 11.1.14
    Mortgage: £399,435.91 £377218.83
    Deposit loan from Dad: £9000£10000
    • eddi
    • By eddi 20th Jan 12, 3:17 PM
    • 271 Posts
    • 1,903 Thanks
    eddi
    Ooh I'd like to have a go please Kerri. I need to get my head round the spreadsheet first... but I do a lot of stockpiling when things are on offer (people think I'm funny I'm sure). I just get a bit excitable when things I use anyway or things I can use in their place are going cheap

    I shall aim to cover the cost of my worldwide Ancestry membership renewal. I managed to get it at 40% discount and cashback last year as a new subscription but I imagine it'll be almost full whack next time which currently stands at £155.40.

    So I am £0 / £155.40 Ancestry membership at the mo

    Helpful explanation to think of it as my own little shop. Hooray I'm a shopowner. I need some shelving
    • eddi
    • By eddi 20th Jan 12, 3:29 PM
    • 271 Posts
    • 1,903 Thanks
    eddi
    #007 eddi
    Originally posted by kerri_dfw
    Awesome .... shaken not stirred Moneypenny
    • fozziebeartoo
    • By fozziebeartoo 20th Jan 12, 3:43 PM
    • 1,498 Posts
    • 12,479 Thanks
    fozziebeartoo
    Can I join please?

    Just this morning I was trying to explain the 2nd Purse to my teenage DD.....

    I was trying to explain she needed to tell me if something came out of my "store" so I could pay the 2nd purse, but I didnt do a good job explaining

    I would like to try and get £200 so I can buy a really WARM pair of posh boots for my ginormous feet next winter.....I am fed up with cheap shoes and very cold toes

    And I have never, ever had posh footwear in my entire life so that would be an entirely selfish indulgence.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

151Posts Today

1,500Users online

Martin's Twitter