£2 savers club (Part 3)

Buffythedebtslayer

ElJayco wrote: »

Sorry if this is going to be a stupid question but what is the purpose of these various challenges to save money when the idea is to clear debts?

I'm probably missing the point entirely but having read a lot of Martin's advice one of the things that has come across again and again is to clear debts first before saving as they will be cleared much quicker.

I'm assuming everyone in these various challenge threads still have debts this being the DFW board an all.

Doesn't that mean rather then saving money it's better used to pay off the debts?

You are right, that in terms of paying off debt the best advice is to use your savings and not save until you are debt free.

I save like this because it helps me budget. I have worked out what I need to pay to be debt free and what extra money I will need and I try to save some of that extra each week to put towards over payments at the end of the year.

It just makes me feel not so skint and it is a gimmick to encourage me not to waste money?

xx

Buffythedebtslayer

Jolly2009 wrote: »

Thanks Tea - can't quite beleive I am getting excited about this site so early in the morning??? I guess it's a sign of things to come, being a newbie I ended up on it on and off all night last night until very late.....very tired this morning.

he he I know that feeling!

Happy Christmas £2 savers!!

mickey_mouse

I see this challenge as a fun challenge and a way to save extra as a lot of the £2 may be wasted on things which aren't necessary like chocs, coffees and mags.

Merry Xmas everyone:D

redmel1621

ElJayco wrote: »

Sorry if this is going to be a stupid question but what is the purpose of these various challenges to save money when the idea is to clear debts?

I'm probably missing the point entirely but having read a lot of Martin's advice one of the things that has come across again and again is to clear debts first before saving as they will be cleared much quicker.

I'm assuming everyone in these various challenge threads still have debts this being the DFW board an all.

Doesn't that mean rather then saving money it's better used to pay off the debts?

Yes you are right, The main priority is to pay off debt. A lot of us on these challenges do use any pennies saved after a set time to pay chunks off debts...others, like me, use the like use these challenges to save and treat ourselves without adding any more to our debt amounts.... It is unfeasable to think anybody could go for x amount of years never treating themselves or their kiddies to something nice in all that time.
So in a years time I will have saved all the loose change that would normally get frittered away on sweets/newspapers etc and it will mean we can have a little break away without having to use credit cards/overdrafts to pay for it.

Mel x

hypno06

3 beauties in the tin for me today

Merry Christmas everyone xxx

Jolly2009

Woo hoo - I have my first £2 coin since joining :j OH had to pay me back some money and there just happened to be a £2 coin in amoungst it!

ratty67

Got another one today!

Happy Christmas everyone...hope you all have a fantastic day tomorrow

:santa2:

[Deleted User]

Morning, I hope everyone is having a wonderful Christmas.

DH & the kids got me a new money pot for Christmas and DH gave me a shiny £2 coin to go in it, so come the 1st of January I can start a fresh and fill it up; in the meantime I can carry on and fill the terramundi up as much as possible.

Tea
x

lellybun

Morning everyone, just a tip about the Terramundi, i emptied mine just before Christmas, but couldn't bear to smash it. So put a screwdiver in the slot and prised off the top. I could then empty it and then glue the top back on. This saved having to buy a new one and it is now ready to receive more £2 coins

lelly x

Horace

I was given another one today so my total has now gone up to £36. Can't wait to start again in January.