Thread for the Uber Frugals..... Complete an SOA and lets see how we compare...

milkybars

It seems like other than whats already been pointed out regarding dropping internet, get rid of mobile phone, stop TV liscence and sell TV, ration packs instead of supermarket trips... there's no where else to cut back on that would improve your sparkling SOA. A change in focus may be required...

Maybe you could have a check to see your savings are in a high paying account (tough at the mo I know). Also weigh up paying off student loan versus saving (pm me if you want a spread sheet that works out student loan annual statments projected into the future). Depending on which student loan type you are on, with the current low saving interest rates, you might be well off paying it off or atlead making a few voluntery payments.

In addition there's the up your income board... mystery shopping on leave maybe?!

Mr_Matey

Hi mbga9pgf,

I doubt you can cut that much more off your spending, but you have £58k in cash. Depending on your time-frame for buying a house it may be wise to consider investing some of this.

Perhaps you should visit a financial planner, although that may cost you money

Conrad

mbga

I have to carry out a detailed budget planner with some clients, and I have to say they NEVER get thier projections right.

The most common ommisions are;

Lunches / garage snacks
Presents / wrapping paper / christmas crackers / selotape / cards

Monthly allowance for tyres, anti freeze, oil and other repairs
Vets and pets
Videos, music - many have large collections, yet they tell u they dont spend on these!

Sun cream, zit cream, savlon, medicines, plasters
Parking costs
Books - for example from airports

Repairs to washing machines, hoovers, lightbulbs, lawn movers etc
DIY - people always spend more than they think

Fuses, shoe polish, vitamins, batteries (a big cost for families)
Child swimming / footie / other classes

Chemicals - they often forget the occasionals such as carpet stain remover, drain unblocker, descaler, weed killer


Now, the usual response I get to this is along the lines of "but theyre only occasional, I dont count them", but all these things add up, and they have to be paid for so should be allowed for in monthly budgets even if they are only needed once per year or two.

Lunches, magazines, parking, confectionary and thier like are often completely ignored in budgets.

Repairs eat up a lot of dosh also, but again people always underplay this one.

mbga9pgf

Cheers. before I can plan, I suppose I need to know where I will be in 12 months, so might go back and review what I though I was spending. You are right though, I have not had one month where I have underspent what I estimated!!! Suppose its human nature.

LittleMissAspie

This thread is confusing. I thought one was supposed to be sensible with money and not waste it. Not borrow and make sure there are enough savings for redundancy. Have a big deposit and pay off mortgage asap. That's how I was brought up, to be sensible and do the right thing.

But now nearly everyone is saying you should buy clothes every month, spend a whopping £50 a year at the dentist, go on holiday every year, buy treats and presents etc.

It's like you're damned if you spend and you're damned if you save.

mitchaa

LittleMissAspie wrote: »

It's like you're damned if you spend and you're damned if you save.

Balancing act, you only live once.

weezl74

Hi there,:beer:

If you wanted to save even more cash, then you can take your grocery budget way down lower than it is. You may not want to look into it, but there are lots of threads on the old-style board which would help you halve or even quarter your monthly spend on food.:D

HTH,

Weezl x

zarazara

Hi Weezl *waves* been missing your input recently. The 50p a day til xmas was a fab thread, even that pigs head brawn...............................

nobblyned

You and your wife could save more money on groceries by slowly eating each other.

chewmylegoff

mitchaa wrote: »

Balancing act, you only live once.

and your teeth don't grow back.