I have to make this work

mummysaver

I guess it depends on what you expect to buy with that money really? If it is just food and outings for you and oh then I'm sure you will be able to do it.

Perhaps having a monthly target would make it easier to see your savings building up? Also a change jar is a great idea, as is using real hard cash - tough at first but does concentrate the mind wonderfully!

Good luck and let us know if you need more help or tips xx

phizzimum

Hi Ches, how is it going?

in a similar sort of situation as we had a great travel opportunity come up in the summer which meant emptying our savings account! so since then I've been tightening our belts to make up for it.

i've given myself a monthly budget covering much the same as you - food, toiletries, incidentals for kids, gifts etc. I take the money out the bank on a Monday, and as others have said - it does focus the mind!

let us know how you are doing!

trixietoes

JackieO wrote: »

.I seperate my food money into one purse which I take with me when I go to the shops. Once its gone, then I make sure I don't buy anything else until the following week.I have found using this 'old-fashioned 'way of real cash actually saves me money as I can see exactly what I have to spend as opposed to just using a debit card when I get to the tills.

I do this too and it really does work...it means that I actually use the food I have already bought instead of fad buying.

Ches

Thanks for your replies. I appreciate that I am a bit better off than others who for no fault of their own are struggling. I have been there in the dim and distant past when the kids were small. Fortuneately I was able to go back to work when my 3rd child was small. Firstly in the evenings so her dad could look after her while I was at work then full time nights when they were all at school and I could sleep during the day. Then finally I was able to do 'normal' hours for the last 25years and paid into a pension fund during all these years so thats the reason I am not struggling now. I do feel for those that are though as I do feel lucky that I had the opportunity to work. Something that is denied to so many tioday.

Anyway, back to my budget. You have all made a lot of sense with your comments and already I can see where I spend more than I should. I know the concept of menu plans and shopping lists but I have become sloppy in my housekeeping over the years. Time to get back to doing it properly methinks. After all running a house is little different to running a business so the finance dept needs to be efficient doesn't it. I think the suggestion of only using cash and when its gone its gone is a sound one. I will therefore draw my £80 every Thursday and give my OH my card so I can't take out any more. The change jar is also a good one and will look out for cheap piggy bank in the charity shop. The randon spending is the one to watch I think as today while in town to pay a bill I looked into a charity shop I haven't been in before and found a Gerry Webber nearly new jumper for £6.50p. How could I not buy that? I obviously must avoid the shops completely as I can't be trusted to have the will power to walk away from bargains I don't actually need.

maryb

I'd certainly buy a Gerry Weber jumper for that price!! We never get anything like that in our charity shops. You could probably sell it for more than that on Ebay

pink_numbers

... I actually choose to live like this, so that I have security in the future. I don't feel I "struggle" at all, because it's a lifestyle choice.

foxgloves

I think the key is not to think of what you are doing as 'scrimping & saving' because you don't have to live like this. In this case, you are 'diverting' your income to pay for your holiday. That should be incentive enough as it sounds like a good one. My partner & I have nearly cleared our debts but our determination to live a careful & ethical lifestyle regarding money is if anything, stronger. We can go back to frittering money on things we don't need & get only momentary pleasure from, or we can live carefully within the budget we have set & divert a little bit of money into an emergency fund (a lot of our debts originally came into being because we never had any form of rainy day fund and then had a lot of 'rainy days'......) or to spend on a holiday each year. We now understand that it's a choice. If we want the holiday & a little bit more financial security than we used to have, then we must stick to a careful budget/lifestyle. If we want to go back to our old ways then we're choosing a return to no emergency fund, no holiday and probably the slow return of debt. As an example, I had a fault on my car recently. For the first time EVER, as far as I could remember (& I've been driving for 20 years!) I was able to pay the repair bill without sticking it on a card or overdraft. It doesn't sound like much, but it felt amazing. I spent yesterday afternoon turning Sunday's leftover beef into packed lunches & meals for the freezer and it really hit home how this part of our lifestyle is what is helping us be able to pay a car bill or have a week away. I've been a dreadful fritterer of money in the past, but I think I've come too far to go back now. Sorry this is a ramble......I just think that you will find ways to save for your holiday because that's a lovely goal to have & it obviously means a lot to you.

beemuzed

Hi Ches, best of luck! We're in a similar sort of position, as we are currently helping out our DS and family (he's been ill, is out of work, etc, etc and the one thing that causes the most stress is the rent on their London flat) So, the savings are not looking quite so healthy as when I first retired. However I realised that we actually are far better off than when I was working as all the debts were settled, and the mortgage too, so making ends meet, still supporting DS and holidays we've been looking forward to for years should still be doable. We just need to keep a strong weather-eye on where the money is going. We've had years of managing on a little, just got out of the habit a bit, so back to being stricter with the pennies for a while. Good luck - I'm sure you'll enjoy the challenge if you tackle it in that way rather than seeing it as a negative thing - more of a game to ensure that you win, rather the tempting shops out there!

Ches

Thanks Foxgloves your post is very inspirational and so true. And thanks to you also Beemuzed your post brought tears to my eyes as it is very understanding.

I have been at the freezer this morning and have made meal plans (not the days they will be eaten on though) for enough main meals until Christmas. This will give me space for Christmas meat and other goodies. I have not included a large beef joint and a leg of lamb joint which I will keep for Chrismas together with sausage and bacon rolls I bought cheap a couple of weeks ago. Looks like I will only need to buy a turkey crown and a piece of gammon for Christmas. There will also be enough left over of the current stuff that together with the leftover Christmas stuff should see us through until the end of January. I will have to shop for fridge/fresh food for breakfasts and lunch but its not looking too bad. Any money I can save from my £80 can go to restocking the freezer when it becomes necessary so I will put that in the 'change' pot. I have also a store cupboard full that I haven't looked at yet. I intend to do some baking today as I know I have plenty of flour/fat/dried fruit etc to use. I also have some manky bananas so I will use those first.

Thanks to everyone who has posted. I feel very much happier than I did before I made my original post. This could be fun after all.

Ches

It is the middle of the month and I have already spent too much this month to allow myself £80 for each of the next 2 weeks. I am afraid it will be a case of limping along moneywise for the rest of the month and starting properly at the beginning of December. As most of the food shopping has already been done for this month I should be OK to just buy fresh stuff. I will sort out the cupboards at the weekend but I am pretty sure I am ok for all the basics. I have been stocking up when it is on offer and I don't know yet how changing to a weekly budget will affect that way of shopping. Still we shall see.

I made 3 banana and 1 date and walnut cakes yesterday. They are all in the freezer. :j