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

beingjdc

Average monthly income after tax over the last 12 months - £2200.
Average monthly spend - Rent £700, Bills £120, travel £100 other £400.
Average saved or invested - about £800.

There we go. Details if you really want them!

[Deleted User]

I'm not convinced this post has gone the way the OP expected!

OP - you surely know there's very little to cut out?!

At best stop paying for stuff e.g. insurances monthly as pay a one-off fee as this will more than likely be less...

Other than that if you're happy then good for you. I'm all for having a balanced lifestyle. Some money towards savings, other money towards one night benders, other money spent on just myself. Whatever floats your boat!

PasturesNew

Kez100 wrote: »

PN, you forgot your sofa. Thats an asset. I know it is subject to wear and tear but it would still have a value.

And you haven't included anything for wine gums.

It's not my sofa. I rent, furnished.

mitchaa

mbga9pgf wrote: »

Council tax, water rates and rent comes out as a one-er, at 500 PCM.

I do go to the dentist. My wife is registered with the NHS.


Current trade is 40% undermanned. Even if I eave at my leave point, I will be going into a job that pays me twice what I am currently on for my experience gained in the Military. Its slightly more than 200 quid mind. Everyone currently can get extended to 55 if they so choose; most cant stick any more than 16 years and leave with a pension at 38 and move into civvvie street on a hugely expanded salary. Most firms have one or two directors that are ex-mil; that is no coincidence. They love the attitude and the experience that those personas bring.

Military officer, you gave that away with the 16yrs/55 age, i guess Army, £47k income so Major in rank? If not you're either a Sq leader in the RAF or an LC in the Navy.

FSP in the armed forces, so full service of 16/22 will see you with around a 30% FSP, upto a max of 50% if you spend 35yrs in but remember that is taxable pension so likely to be majority taxed at 40% if you secure a decent job in civvy street.

What jobs are 40% undermanned in civvy street? Well i know the aviation world is, but i also know the aviation qualifications that the military offer are no use to you in the civilian aviation world.

I would be careful into thinking you can just leave the military and walk into a good paid civilian job no probs. Although some military qualities are good, (Discipline and respect) some are not so, i.e having to be told to do something before you do it, always someone above you passing menial orders down, not thinking for yourself, protected etc)

Being an officer i suppose is a bit like being in a civvy managerial position, but treat civilians the way you treat ranks below you and you will be left with egg on your face in the end, this again is another negative, you need to adapt and you need to learn that you cannot quickmarch civilians into your offices, tell them off for their sideburns or not saluting you as you walk in the door.

I have a couple of ex services officers in my work and they are as good as new. So laid back you wouldn't believe, they have obviously adapted to civilian life well but i also knew of 1 in my last job who i think still thought he was still in the services, just the way he talked to people in general, he never lasted long, luckily emigrated to Australia.

I wouldn't have the attitude that you can just walk into any highly paid job though due to you being a military officer, the real world does not work like this Dog eat dog in the real world, no more military bulls*it.

PasturesNew

mitchaa wrote: »

...you cannot quickmarch civilians into your offices, tell them off for their sideburns or not saluting you as you walk in the door.

A number of years ago I was helping a friend out in their business, installing and populating a sales database on what was then new technology: a desktop PC Probably a 386!!

It was a double glazing firm and my friend, the MD, hired an ex serviceman as his Sales Manager. This ex serviceman had come out of the services and started his own company, working from home, importing cars for service personnel, I'd met him before as I'd undertaken his typing/admin work. Things hadn't gone well for him, so he'd gone for this Sales Manager job and got it.

He held a weekly sales meeting, he'd sit at his desk and the salesmen would be round a table in front of him. He would pull a gun out of his drawer and hold it to the head of the salesman who had performed least well that week. I saw it, spoke to the admin staff and they said he always did that. There were only 2, fairly inexperienced, admin staff and they'd just bumble about their business not really having a clue about most things. They just accepted it as normal because he did it and he was a man and a manager - so it must be OK ... and he hadn't shot anybody had he.

I wasn't happy. I went straight to see the MD and let him know how unacceptable that was. The guy was sacked. The MD had no idea because nobody had ever told him, everybody had assumed that it was OK because he was a manager and therefore the MD must approve of everything he did... right?

Birdy12

I don't get it...what's the point of this thread? Mbga9pgf, what response did you hope for?

Conrad

I'm a saver, but I'm also a life liver. Money is needed to do many things. We go for walks that cost nothing, but on the other hand it's nice to spoil yourself sometimes, for example with a villa holiday, or a curry at the weekend, or skiing. Making the main foruc of existence the aquisition of cash, seems pretty bleak to me.

And I have to be honest and say £65000 in assets is nothing special these days. Many many ordinary people I know have hundreds of thousands in assets, yet they spend plenty and have had property whilst youv'e been storing cash. They don't as a rule have cash savings. Even if prices fall 35%, they will still be way ahead of you.

Conrad

I've found the military management methodology does not transfer well in civvy street.

My Dad btw was in the army until he was in his late thirties. He went into the Civil Service, so I've had a lot of exposure to military types.
Some of the toff officers really are a joke when it comes to real world managment.

Lakelady_2

I suppose its an attitude to money we`re talking about here. I hate spending money on groceries, fuel, insurances, mortgage etc all the necessities of life really. So I make sure I cut these down as much as possble but still make sure we`re well fed and warm, safe and secure.
I don`t mind spending money on holidays, meals, coffee out. Making sure the nearest and dearest get the best out of life. So I cut down on A to spend more on B.
Each to their own - but sometimes you do wonder what folk are waiting for!

baileysbattlebus

mbga9pgf wrote: »

Just interested to see if I can cut down any more...

You could always change all of your light bulbs to these ultra cheap to run ones - if you like living in the twilight zone

You could turn your heating down - and your thermostat for your hot water down

£50 a week for 2 on food could be classed as extravagant by some on the "old style" board, some on there could feed a family of 5 for a month on that - I kid you not.

I decided against posting an SOA for us - as after all the expenses, mortgage, council tax, bills, car loan, insurances etc, we have more left than the OP and partner earn. We do tend to save - but that's more by default than design. There's always money left.

We are not uber frugal - we have a nice life - we go out when we want - on holiday when we want - I spend more at the hairdressers than some people spend on their shopping. The "old style" board makes me feel totally inadequate, but makes fascinating reading - so I suppose I know what we could be doing - the spirit is willing, but the flesh...............

I thought MSE was all about getting the best value - not living on as little as you possibly can.

But on the other hand I can budget - for quite a few years when we were first married and kids were young - we had no money, large mortgage etc, and we managed - we just went without. But as things got easier over the years our spending became easier too.

Good luck in house deposit saving.