the daydream fund challenge thread

Davesnave

rhiwfield wrote: »

Davesnave/LMAC, although its very difficult to opt out of the modern world, I think you can play by your own rules part of the time. MSE certainly helps by showing how that can be done and its great that the OS/Greenfingered forums firmly point you in the direction of thrift and (partial) self suffiency.

Its when you see people falling for the advertising or the latest fashion gizmo that you realise they are on a treadmill where they have to earn, earn, earn to keep up with a lifestyle that promotes waste and environmental damage (btw that used to be me ). I worked in the finance industry for too many years and saw many self centered amoral people masquerading as bank directors, eager to take a cut of your income or savings for promises that were often not kept. Often they were less interested in protecting your finances than lining their pockets.

My tongue in cheek advice, FWIW Davesnave, is to continue to follow your own common sense, spend only what you can afford and only then when you have to! But it also makes every sense to budget wisely and put money away safely both for a rainy day and worthwhile investments like a daydream fund
)

Yes, we had a friend/acquaintance who managed our local bank and who invited us in for a 'review of your finances to see where we might help you.' Having found that we had most bases covered, he desperately offered us a loan for home improvement at an interest rate of 15%. This was a while ago when IRs were high, but not that ridiculous. We said 'If you do this to your friends, what do you do to your enemies?'

Saw him a few weeks ago and we had a pleasant chat. He'd aged a lot!

I think I'm just worried after many recentish financial crises that no matter how prudent one is, external forces can wipe out years of effort. Some people have had lousy pension deals and others have bought badly with property etc. It is so easy to get 'caught.'

A prime example is what happened last autumn where we heard that interest rates were about to fall off a cliff. On the recommendations of this site (Savings & Investment board), DW and I put all the cash we had, and were about to have, into a few fixed rate deals at over 6%. At the same time, a friend who had sold her house some time ago, dithered until it was too late. The difference between our incomes on similar amounts of money in the intervening period while renting was huge; literally thousands in just nine months. Frankly, I couldn't give a hoot about Martin's two for one pizza deals in that context!

Now we have bought again, I'm happier because I didn't like having all my resources in just 'money.' A house (and some land too!) is always worth a house, though of course where & what you buy can make a real difference, long term.

Maybe we have drifted a little way off the main thrust of this thread, but really what I'm saying is that those with Daydream Funds need to stay clued-up regarding where they are keeping them, as well as staying vigilant over the insidious temptations and distractions of everyday consumerism that you mention.;)

rhiwfield

Davesnave, I suspect we could swap a few stories but as an example, the MD of a bank I used to work, when asked for advice on a deal that was maybe a bit on the sharp side, used to say to the loan officer "thats between you and your conscience" i.e. if you can live with the deal it doesnt bother the bank.

Couldnt agree more with your remarks but, going back to topic, the gooseberry bushes (2 x invicta and 1 x hinnonmaki green) we got from wyevale have been put in the fruit beds in place of the blueberries which never seemed happy surrounded by limestone rock and we dont want plants in prime positions to be passengers. So they are now in ericaceous compost in pots and maybe we'll get a decent crop next year. We've also planted the 10 autumn raspberries to extend the soft fruit season. My neighbour has an old heap full of compost that he doesnt want so, if he's willing, we'll spread an inch or two over most of the unoccupied beds and around the fruit trees and bushes. I've been amazed at the difference in the carrot crop grown this year in a bed made from his compost that we filled this spring. It makes me even more keen to get the rest our soil in good heart and keep it that way.

Raining today so no work on the new beds which have been fully turf stripped, but have got nearly all the materials for when the weather improves so not much more to spend

LMac

Just out of interest, does anyone keep a running total on what it has cost them to become self-sufficient(ish) ?

Rummer

LMac wrote: »

Just out of interest, does anyone keep a running total on what it has cost them to become self-sufficient(ish) ?

I would be filled with horror :eek:and I doubt my OH would ever speak to me again :rotfl::rotfl::rotfl:

choille

I wouldn't be prepared to say, but it is not a lot considering I have a lot of ground that I have had to fence. The house build is ongoing.

The garden has cost me very little. I do a lot of cuttings ie Blackcurrants & gooseberries cost me ziltch, as did the strawberries.

I have a wood burner in the caravan that I got 30 years ago. I have loads of dead wood & old fence posts on the croft, so my heating costs nothing, but effort. I often cook on it too & that is how I heat water to wash & do clothes washing - so that's free. I do have a calor gas cooker too - but that is cheap to run.

The sheep do cost quite a bit in feed, hay etc - probably not cost effective, but I like them & have a supply of lamb for the freezer. My hens are needing expanded - I need to get some more. They haven't cost me too much & I have sold rare breed chickens. And of course I get fresh eggs a lot of the year. We made all the hen houses - so they didn't cost much at all.

It depends what you want, and how much you are prepared to do yourself.
I think you have to start with whatever situation you are in & make attempts with what you presently have - that way you get into the way of it. It doesn't suddenly happen when you get somewhere - well not unless you have oodles of money.

LMac

Sorry! Didnt mean to make anyone feel awkward! Just pondering what sort of figure I should aim for. Will be at least another 10 years, so guess I shouldnt worry about it yet Guess I should start practicing saving seeds and taking cuttings for now.

choille

Well prices vary all around the country & I am sure that if you are looking at a particular area & have an idea of what sort of place/land etc you want then you will have more of an idea about what it will cost you.

Rummer

LMac wrote: »

Sorry! Didnt mean to make anyone feel awkward! Just pondering what sort of figure I should aim for. Will be at least another 10 years, so guess I shouldnt worry about it yet Guess I should start practicing saving seeds and taking cuttings for now.

I am sure no one will feel awkward I just think it will be circumstance dependent. Budgets will vary based on the ideas people have and the home/land they had to start with. Like most things though, I think you could go wild and spend huge amounts or you could choose whats important and spend much less.

In the meantime though I think you are right in focusing on learning as many money saving approaches and skills as you can so that you are well equipped to make your dreams come true

Rummer

meanmarie wrote: »

Managed to put another €200 into the fund this month, don't expect much more between now and end of year, as there are several annual bills to be met....Christmas I budget for all year so that will be ok.
Marie

Great news, well done :j

LMac

Thanks Rummer I keep looking at equipment, seeds, etc and thinking Id be richer (in short-medium term) by sticking with the farmers market!