Live on £4000 for a year - part 4 (Oct - Dec 2008)

Skint_Lynne

Hi,

I notice that you are all getting ready with your budgets. I don't know whether to go for allocating the monthly budget, I think it works about £330, is that correct?

I'm not that sure about allocating specific amounts to different 'pots'. I want to keep it as simple for myself as I can (as I am a simple soul:p ). So, I propose to use the 330, deduct the bills that come off of the challenge, eg, phone, gas, leccy etc, and then what I have left over is what I have to spend for the month, so for talkings sake, I have paid £150 for my essential bills for the month, I have 180 left for food, presents, clothes etc.

I am hoping that my gifts will be money neutral, so I won't spend an awful lot on these with real cash money.

What do you think guys, what works best for all of you?

SL x

cw18

I'm using individual pots, as I want to target as many of these as possible for reductions

ie.
shop around for house insurance,
shop around for phone/broadband,
reduce grocery bills (not that I think I can that down much more, especially with the way prices are heading upwards -- I'm already stretching what I used to spend in a week to a whole month, and DH used to buy 'extras' as well :eek: )

My feeling is that I have one pot, then I won't see any benefit for trimming any of these back

But, as said before, all the MSE challenges I've picked up on so far are workable 'cos we can all set our own guidelines/boundaries as long as we're all aiming for a similar goal at the end of the year (in this case, to keep within a total figure whichever way we do it) :T

Skint_Lynne

cw18 wrote: »

I'm using individual pots, as I want to target as many of these as possible for reductions

ie.
shop around for house insurance,
shop around for phone/broadband,
reduce grocery bills (not that I think I can that down much more, especially with the way prices are heading upwards -- I'm already stretching what I used to spend in a week to a whole month, and DH used to buy 'extras' as well :eek: )

My feeling is that I have one pot, then I won't see any benefit for trimming any of these back

But, as said before, all the MSE challenges I've picked up on so far are workable 'cos we can all set our own guidelines/boundaries as long as we're all aiming for a similar goal at the end of the year (in this case, to keep within a total figure whichever way we do it) :T

Exactly Cheryl,

It is best to do it in the way that you feel works best for you. I just think think that for me, it is best to work off the one pot of money, and if I have extra at the end of the month, I can adjust my total accordingly and spread it over the remaining months. It would also work in reverse, ie if I overspend, I can adjust it that way as well. So, if I have a surplus at the end of the year, I can use it to pay a debt off, because I would like to think that I would 'physically' have that money saved in an account. I might open a wee convenient account, like a post office one or something. I'll get the thinking cap on for that one.

SL x

redglass_2

nykmedia wrote: »

Thanks for that, apart from the car - that was Marru's good bit of news, I don't own a car

Sorry, Marru! Enjoy the car. Maybe I should turn the heating up a bit so my brain can function :doh:

cw18

Skint_Lynne wrote: »

I might open a wee convenient account, like a post office one or something.

To th best of my knowledge they don't do one any more I know they closed out the blue and silver passbook accounts some years ago

(must find my books/account numbers and get the £20 or so that was in them back in my own pocket! will cause much confusion as I've had a name change and three address changes since I last used -- and found -- them !!!)

Janey51

An early morning thought.

If I had any brain at all, I would have been starting my stockpile on Jan 1 2009. But by then, prices could have gone up.
I am having a mega re-organisation of cupboards to store my stuff.

Can anyone work out if cat food at 17p/100gm is better value than 2 x 950gm boxes for £4??

DawnW

cw18 wrote: »

To th best of my knowledge they don't do one any more I know they closed out the blue and silver passbook accounts some years ago

(must find my books/account numbers and get the £20 or so that was in them back in my own pocket! will cause much confusion as I've had a name change and three address changes since I last used -- and found -- them !!!)

Some of the building societies still do passbook accounts, though in some cases the interest rate are not great, and in some others, there are penalties for making withdrawals.

andromache_2

Hiya Janey,

You've got to think of the calculation as a ratio:

17p : 100g vs 400p : 1900g

If you divide both sides of the second ratio by 19, then you'll get the price per 100g.

400p / 19 : 1900g / 19
21.05p : 100g

So the £4 offer equates to about 21p per 100g, which is obviously less good value than 17p per 100g.

Hope that's clear... *hopes she hasn't made a mistake as would feel very silly*

cw18

Janey51 wrote: »

An early morning thought.

If I had any brain at all, I would have been starting my stockpile on Jan 1 2009. But by then, prices could have gone up.
I am having a mega re-organisation of cupboards to store my stuff.

Can anyone work out if cat food at 17p/100gm is better value than 2 x 950gm boxes for £4??

17p / 100g = £1.70 / kg

2x950g = 1900g
£4 / 1900g = £2.105 / kg

your 17p / 100g is the better value -- as long as the weight used for a meal is the same


ETA: I see I was beaten to it today

sophiesmum_2

Janey51 wrote: »

An early morning thought.

If I had any brain at all, I would have been starting my stockpile on Jan 1 2009. But by then, prices could have gone up.
I am having a mega re-organisation of cupboards to store my stuff.

Can anyone work out if cat food at 17p/100gm is better value than 2 x 950gm boxes for £4??

100g at 17p = £1.70 per kg whereas the other is £2 for only 950g - so the first is the better deal:D

And you both beat me to it