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

Blairweech

2TR - Thankyou so much for posting, I was only thinking about you last night. What a wonderful post, actually had me in tears. I am truly pleased that your Mum is out her coma, and I hope she improves every day now x x

lyndasharp

2TR, that's great news about your Mum and I'm sending my best wishes to you and your family.

SM, hope all your personal stuff is sorted soon.

cheerfulness4

2TR - that's marvellous news. I'm so pleased for you all and hope she's feeling better each day.

NYK - I use most types of cheese in my quiches that I freeze, including Edam, which is one of my favourite cheeses. You should be fine.

Going to assess the stock cupboards again and make a plan to run down the foods that need using up before the end of the year and make a list of foods to refresh the pantry ready for January.

Already assessed the toiletries dept and must have soap to last for a year or more.

Having decided that I'm on a 'no new clothes' challenge next year, I've been sneaky and bought a few bits in the sales online over the last month. Taken advantage of cheap as chips deals that rival Asdas in price so very pleased. A budget of £25 has me now restocked down to underwear.

Have 3 lots of fabric and a couple of patterns that I bought earlier in the year so I'll use those as and when I need for new bits.

CW - Really love your monthly spreadsheet updates, as the other updates that people post. It really helps a newbie such as myself to get a sense of how to make this work next year.
Getting very excited about starting now. :j

thriftylass

2TR my best wishes for your mum and your family. Having been through tough times recently I can relate to how stressful and worrying it must have been. I hope your mum will make a good recovery.

grandma247

2TR I am so glad your Mum is improving. The human spirit is far stronger than any of us really imagines. Make sure you get enough rest as you will need your strength later.
Regarding savings I think your experiences will spur a few of us on to start saving for emergencies. We have not been able to up to now but by January We should be in a position to increase our tiny bit of savings on a regular basis even if the economy has not improved or gets worse. That is all thanks to this little group of people so thanks to everyone for your help and suggestions over the last year or so.

sophiesmum_2

cheerfulness - i was checking out my toiletry stash a few days ago and did a top up of most household toiletries using the remaining points I had on my boots card. I reckon I have enough of nearly everything now to last most of next year, except for stuff like toilet rolls. Will be looking out for c0stco's next good offers on the paper products as they come around regularly.

Frugaldom

Good morning frugang

2TR, that is excellent, nae miraculous, news concerning your mum's turnaround and I am sure that with all the support she has from you and other family she will fight every set back in similar fashion. Let's hope that her progress continues.

Thanks for the OK on the Edam, cheerfulness, I almost didn't buy it but then compared the 80p to the £1.20 next best offer and opted for one of each. I should have enough for a quiche and for grating over hm pizzas at lunchtime today.

I just ventured onto the ISA Vs Pension debate on MSE and wish I hadn't! Boy, those guys can argue and they all seem to be RICH! :rotfl: I got as far as the recommendation to submit a pension 'rediction' from HMRC/DirectGov and then gave up after that as I am still no wiser. Looks like I'll have the equivalent of £95 (current value) to live off when I'm entitled to state pension in the year 2030, so that's almost £19 (or almost 25%) more than I spend now! :rotfl: I am going to be so rich! Not sure how I'll pay the rent, though! :eek: So, if I keep saving my £15 per month in my tax free bond and can fill an ISA every year (assuming they allow us to keep our ISAs) then that could give me a sprending spree pot of around £100,000 by the time I retire. I wonder what that will buy in 2030?

cw18

2TR - glad to read your news

SM - sending ((hugs)) your way

Nyk - I was going to say that if you're not on much more than the State Pension you'd be entitled to Pension Credit and Housing/Council Tax Benefit. BUT they'd count your savings against you, so anything about £6k that you've squirreled away would have to be used instead!!



Pensions is something I've had to assess this last week. My new job would give me access to another pension scheme, for which I expect to get the details during induction. But (even if the employee contribution is only 5%) I'm not sure I could afford to after I lose CB, CTC, WPA and the dependants pension (from the occupational scheme) next September.

So I've done a quick tot-up of what I already have.....

widows pension already in payment, which will continue unless I 'shack up with' someone or get married again - £3200 pa
1st preserved company pension (at 60) - rough estimate £4k pa (plus a lump sum up front)
2nd preserved company pension (at 65) - (mostly final salary, partly money purchase) forecast 2 years ago was £4,700 pa
AVCs from 2nd company pension (at 65) - ??? money purchase scheme, and the last 2 statements have had huuuuge errors on them. Still waiting on an answer
3rd preserved company pension (at 65) - ??? but practically worthless. Only paid in for 15 months
State pension (at 68!) - £5k pa

So an estimated income at 68 of almost £17k....... so I'm already better off in retirement than I am now, which means I can't see the point in crippling myself by paying into another Sure there's a chance the State one could disappear (or have the goalpost moved again), but the £12k at 65 compares favourably to what I've had for the last 12 months...... and it should only be providing for me, rather than me and DS I know there's an issue with inflation, but my widows pension and final salary schemes (!!!!!!) are inflation proofed (safely for the WP and first FSS and to some extent with the second FSS).

I know you get tax relief on pensions contributions, but as they've removed the NI reduction I'm very tempted to say 'sod it' and not bother - mainly as I've proven I can survive on less than I'd ever have imagined I could, which is mainly thanks to this challenge :T

bails

Pah! I've just had a quote back from my dream venue...and it's ridiculous! :eek: I've already knocked a grand off at a mere glance, and now I'm going back to trim it even further. I admire their audacity but little do they know they're dealing with a seasoned 4ker :rotfl:

Will catch up with everyone's posts once I've whittled it down to less than this whole trip is costing, for a start! :eek::rotfl:

andromache_2

Yay 2TR, thank you so much for letting us know; I'd been wondering how you were doing - must admit I teared up a little bit as well reading your post I'm SO happy for you and your mum Take care of yourself xxx