Live on £4,000 for a year - 2009, Part 3

shaz_mum_of__2

It's not gonna be me !!!!!!!!!!!!!!!!!!!!!!(sorry nyk)

cw18

nykmedia wrote: »

OK, that's 2 so far, any offers from whoever is going to be the third?

Actually, "extending" my family is one possible solution to my financial dilema in the coming years :eek: Main obstacle to this is that I don't have a fella to "assist" :rotfl:


Been checking council tax exemptions for students, and got confused so have just given them a call. It wasn't totally clear if I'd still get single person discount once DS gets to Uni, but have been assured that (as long as he gets a certificate to prove the course is for at least 21 hours a week and at least 24 weeks a year and runs for at least one year) I will. Without the certificate she said I'm not entitled from his 18th birthday - which is in 2 weeks :eek:

So I queried what happens for the next 12 months while he's still at college and I'm still in receipt of CB. Apparently I need a letter from CB to prove the expected end date of payment from them, and then I have to send that in with a completed form to get him exempted for the next 12 months. Can't get the letter from CB until after his birthday, as I have to contact them at that point for a 12 month extenstion..... just watch them want a letter from college that we won't be able to get until September now



I also asked a couple of extra queries, and if I return to college (same restriction on course hours) I will also classify as a student for exemptions - which would mean no Council Tax at all to pay for the duration of the course :T So I'm going to have another read of the college prospectus, as a saving of £1k/year in council tax should actually cover at least a large part of the course and exam fees for those that interested me.....

SmlSave

CONGRATULATIONS
WHITEWING!!!!!!:T:T:T:T:T:T

And thanks for the recipe nyk

I didn't manage to get in front of the speadsheets yesterday, will try tomorrow as we're off to have our final meeting with wedding venue tonight

HH62

nykmedia wrote: »

HH, does your £600+ include all debt payments, bills and general cost of living or is that just the cost of living part? :eek: Are you part of the grocery challenge?

It covers everything except mortgage/rent.
I'm not on the grocery challenge, I'll have a look at it. I do spend far too much on food. I find it harder cooking and shopping for one than I did for two people, I seem to have a lot more waste.

Oh and CONGRATS WHITEWING!! :T:j

Frugaldom

Back again - someone asked me about the free cash / extra cash I earn for my cash neutral challenge and I can't find the post now to quote from it. Apologies to whoever asked, I did mean to respond earlier. In all the excitement, I forgot to reply to you.

My cost of living budget is set at £4,000 for the year for a household of 3 adults. This does not include rent, council tax or TV license (I wouldn't have a TV if I lived alone), nor does it cover anything else I spend on pets, vets, livestock, garden, special occasions like family events, holidays etc, but I do record how much everything costs so I know how much extra I need to raise to pay for my lifestyle (excluding my DD's wedding, which is a completely different budget). By earning these spends back in alternative ways, it means my actual earned income is free to use as savings. I use all of the following for generating extra income, most of it (not all of it) tax free:

Free online scratchcard & bingo winnings
Interest from savings & stoozing (taxable)
eBid sales (some taxable)
Vouchers
Cashback
Cash gifts
Premium Bonds wins - 2 wins this year, so far
Affiliate clicks (taxable)
Tax rebate
Sales or surplus freerange eggs & hatched chicks
Sales of surplus plants & home produce

I'm also a member of our local LETS group, so I'm now looking to trade/swap/exchange goods & foods rather than part with hard cash.

HH - £600 doesn't sound too bad for everything, but if you are already aware of where your overspends are, then that's making great headway. The grocery challenge is an ideal supplement to this challenge, especially for frugal recipes and bargain suggestions. Here's the July link.

We have a rather basic lifestyle that doesn't include many brand names. Trouble with that is that, as they withdraw the cheapest items, we're faced with the dilemma of how to afford the next brand up. No options for Martin's downshifting when you're already ground level. :rotfl:

Skint_Lynne

Hi everyone,

I am very pleased with myself this afternoon, I have fixed my shower all by myself. Total cost was £15, £13.50 for the part and £1.50 for a screwdriver that would fit into the small space I had to work in. So, I have saved myself £45 from the last time this needed doing, and didn't need to rely on bone idle DH.:rolleyes:

I turned the electricity off before I got on with the job, thanks for reminding me Nyk.

This is just another example of something I would not have attempted before finding this thread.

And, congratulations to whitewing and mr ww. I am so pleased for you.

I have still not got round to my housework, I am going to my mum's now, so will make a start tonight. I have visions of me running around like a headless chicken 10 minutes before my visitors arrive on Friday.:rotfl:

cw18

nykmedia wrote: »

We have a rather basic lifestyle that doesn't include many brand names. Trouble with that is that, as they withdraw the cheapest items, we're faced with the dilemma of how to afford the next brand up. No options for Martin's downshifting when you're already ground level. :rotfl:

That's one precidament I can TOTALLY relate too

It's been bad enough with the limited availability of Whoopsies since S/flds closed Roll on 9am of 13th, when Mr M opens their doors :j

Frugaldom

What's happening with interest rates? I have received letter from ISA provider (the lousy 0.6% variety) informing me that the rate has change to 2.75% But, how can they suddenly afford to increase it by four and a half times what it was? Is there something afoot that I should know about? Are interest rates on the upward turn again? Secretly hoping they shoot up to 10% but not good, I know, if you have debts or a variable rate mortgage. (Hopefully all frugalites are taking advantage of the low rates and clearing debt twice as fast.)

CW, you're usually pretty clued up on these things, what's your take on the sudden increase?

SM, an increase in the interest rates should help you recoup/neutralise some of your recent spends. :j

cw18

nykmedia wrote: »

CW, you're usually pretty clued up on these things, what's your take on the sudden increase?

First I've heard of it

Is it one of the banks the government bought into? If so, perhaps they're actually putting their weight where it should be for once, and doing something to help people who rely on savings to generate their income !!!!!

Frugaldom

I've re-read the letter and it definitely says increase from 0.6% to 2.75% AER/Gross variable and it came into effect on 13th June 2009. (I have only just received the letter today!?) Let's just say, for talking's sake, I had 100k in there, then my income from interest alone would have jumped from £600 after a year to £2,750 just like that? I don't have 100k and I do realise there are far better rates if you tie your cash to fixed terms but I like instant access 'just in case' but surely I haven't had my head in the sand enough as have missed something important in the financial markets that could cause such a risky jump? Going to log into account and see if, perhaps, the letter is a typo. Fingers crossed it isn't - the interest may just about neutralise my spending on umm.... Internet access. :rotfl:

It was Intelligent Finance, owned by Halifax, owned by Bank of Scotland, probably mostly owned by the Government? I'm a bit out of touch with who owns what within the financial world these days.

Back again - there's no misprint, June interest was almost 3 times what May was and there's been nothing paid in this year, so far. Might start my 'fill the ISA' challenge this month as it may almost be worth stoozing again soon. Here's hoping