Pennies into pounds

nabowla

I often spend £2 per day on chocolate. Yes, I know it's bad for me and not v. moneysaving but I've got a wickedly sweet tooth

Last night I had one of those lightbulb moments. £2 per day x 365 days per year = £730 per year :eek: Just think what I could do with all that money. For starters I'm really grumpy that I can't afford to go on holiday. £730 would pay for an off-peak week in a posh hotel in Malta (flights incl) and a budget city break in Rome. I'm really, really shocked.

So I've decided to set myself a challenge. I'm going to cut out the chocolate and put the daily £2 in a holiday jar - pennies into pounds (or pounds into more pounds, in my case). It's a bit like the Pin Money Savings challenge but with one difference - cutting something out instead of looking out for bargains/vouchers/other savings. With any luck I should have enough money to go Rome in a couple of months' time.

Anyone else fancy doing something similar? Perhaps you could cut out the cup of coffee that you buy on the way to work, the packet of crisps that you buy at the garage or the chocolate bar that you buy at work? It doesn't have to be anything particularly expensive - even 25p per day soon turns into pounds that you can put towards something that you think you can't afford! It would be great to have a few people doing the same thing so that we can all encourage each other to keep it up.

frosty

What a fab idea,I think I have just become addicted to your idea :eek: I am sat here with a pen,notebook and calculator working it out, :T

no more cups of latte in starbucks= £5.00 aweek
stop buying magazines = £1.50 " "
at this rate I will be about £15.00 a week better off,we are trying to save up for a better car,so every penny helps :j

Sarahsaver

Great idea! Theres a similar thing in Glamour magazine, the 'incentiviser' which has had things such as the cost of bought sandwiches over a year = one designer handbag. Clearly I think most of us would not go for the handbag, but the holiday is definitely appealing!
You could get stronger chocolate or cheaper stuff - at the weekend I got 12 galaxy eggs for £1 off the local market :)I don't know what I could cut out, except I am going to cut my mobile contract down to the cheapest possible when I can. I don't eat biscuits or often have drinks/food out. I often am thankful I don't smoke cos that would be about a fiver a day.
Also you could pay yourself a quid every time you walk to the shops instead of use the bus, or if you go to the gym pay yourself;)

Hermia

nabowla wrote:

So I've decided to set myself a challenge. I'm going to cut out the chocolate and put the daily £2 in a holiday jar - pennies into pounds (or pounds into more pounds, in my case).

Great idea, but make sure you regularly put the money in the bank. I did this a few years ago and put money into one of those big bottles. Unfortunately, I got burgled and they took an almost-full bottle.

frugalfairy_3

We've just started doing something similar. My OH decided that he would start cycling to the station and from the station in London to work, saving him over £17 per week in tube fares alone. He also now takes teabags to work for his many cups of tea during the day saving 27p a time, they let him have hot water for free. We totted it up yesterday and we're now saving an extra £100 a month just from him doing this, which is enough to subsidise my eldest daughter's studentaccommodation in Manchester which was too expensive for her to manage alone.

Now I'm scouting round to do my bit too. Haven't come up with much yet but I'm going to be more careful with my fruit and veg buying; I've been sick for the past two weeks so most of what I bought had to be chucked away last week, a chronic waste but I just wasn't up to making soup, cooking fruit for pies etc. This week will be better!

comicmankev

I just started a similar thing at work. I tend to buy lots of sweets on a daily basis because there is actuall nowhere near at all to buy anything that resembles food.

It's harder than you think because your used to the sugar, but every time I have the thought of buying, I put a pound in the tin, and it soon adds up! (I suppose it's a bit like a swear box)

henhog

A really good idea - I have been contemplating doing the same with wine - we usually have abottle between us most week nights, and if we only had wine at the week end we could probably save about £20 a week!
I do save two pound coins - when ever I get one in my change I put it in my piggy bank. It's the old fashioned type that you have to smash open with a hammer (got it in a jumble sale for about 50p) I am going to smash it open soon as I've been saving for Xmas. Can't wait to see how much is in it!

scuzz

I did this with salsa dancing, and put the fiver in a pot every week. But when I split up with boyfriend I stopped

Pink.

What a brilliant idea nabowla, I think I'll join you and get rid of chocolate.

Pink

SuiDreams

Would like to join in, but not sure what I can give up, rarely buy snacks at all (unless really desperate), Magazine prepaid, We often go for a coffee or tea on a Saturday morning (which OH pays for) I have been trying to wean him off it with little sucess I suppose I should just try harder. Rarely have lunch out on a weekend, unless I have some Luncheon vouchers from Pinecone. Will try and think harder.

madfrenchgirl

Me too, Suidreams...

Cant think of anything really...

I dont have treats cos I follow a lo-carb diet... So treats are for OH. I usually get 5 pounds lunch allowance from my company and I buy him treats with what is left of it. We dont smoke, dont drink, only spent 110 pounds on food for 5 weeks, including the impronptu BBQs that were not planned for. I have said I would not buy any piece of clothng unless it was with gift money from my mom and stuff that really needs replacing like shoes.

argh cant think of anything!!!