FRUGAL LIVING CHALLENGE 2010, part 1. (Living on £4,000 a year)

chika

Wow I can't believe it's the end of January already. Today I got an ace S0ny flatscreen tv (the old type) and stand from freecycle so I can watch DVD's at home. This will save on cinema costs, I often just go because I am bored...

Just done my bosses tax return, its amazing looking at receipts how money can be so easily frittered away. This brings me nicely to my feelings at the end of the month. I don't have a budget - I'm a student with no set income so I've just decided to live as frugally as possible - the amount I have to live in is probably under £4k anyway but I sometimes get decent temp work in uni holidays which pays quite well. I might look into doing a fixed budget though but that's another day's job.

This month I have already paid three month's rent in advance, sorted out my car including two unexpected repair bills and I still have some cash left in the bank out of the January loan installment. I've even overpaid £300 of debt bringing the total amount to less than £2k - which seems so much more manageable when I look at the figures.

The biggest thing for me is that I've been able to leave my weekend job. A job I hated and actually paid very little. This is all down to you guys and your inspirational frugal tips, advice and general friendliness. I didn't think living well and cheaply was possible until I happened upon this challenge For that I thank you all from the bottom of my heart (you may have just saved my degree!)

cw18

DH and I used to run a similar kind of system

We each had our own CA, into which our relevant wages/benefits were paid

I then calculated an estimate on the annual bills (house and children, including grocery shopping). From this total I subtracted CB and CTC, then the remainder we split on a percentage basis (based on our salaries - so if his gross was half mine then he paid a third of the bills). Rather than him doing a Standing Order into my bank account, he pulled his share in cash and gave it to me that way - which worked well as I was paid monthly and he was paid weekly, so I had cash every week for grocery top-up shops and school dinners/snacks/trips.

We each paid our own car expenses, prescription/dental/optician charges, and controlled our own 'spending money'. Holidays were normally done so that I paid the cost of the holiday and he provided the spending money (including cost of any food bought while we were away). He paid for presents for his side of the family, and I dealt with my side (though more often than not he gave me money and asked me to buy the ones he was supposed to deal with!)

As [strike]we[/strike] I regularly overspent on bits for the kids (and not just presents - an extra pair of shoes here and pair of school trousers there soon adds up), he used to pay for minor jobs around the house from bonuses from work. Larger work/purchases we split 50/50.

The one year I kept a vague track of the 'unbudgetted' spends and how much extra we each put in, it actually calculated pretty accurately on the percentage basis.

lynzpower

nykmedia wrote: »

Lynz, I wouldn't worry about complicated budgets, it's more about how we spend to make it a frugal budget, so your challenge is more about increasing savings whilst you are in a fairly fortunate situation of having no utilities bills. You could always bank the equivalent of what it would normally cost for these things? I think that's what SM did last year, as she was in a similar situation.

I save quite hard- could have saved a lot more though last year. This year through frugal living and making more money elsewhere I aim to exceed 12k. I can only do this through having such low living costs. But being frugal definately helps- as I certainly didn't save this much last year! It will take effort, but I like it

Oh has been paying some old debts off and he owes me ( well its the house deposit savings fund- confused yet!? ) 2k. This will be paid off in a few months so then he can have seperate savings for himself. His eyes nearly popped out of his head when he realised theres a chance we can both save at the same rate this year

Ultimately, they will probably go into a house deposit, our wedding anyway, but its nice to have extra money thats "mine" should I want to do any credits with the OU or anything.

I just need to stay focused and motivated and look after the pennies and the pounds shall take care of themselves.

pink_numbers

January spent.... _pale_

In total, I spent £929.65 (of £6000 budget) :eek:

of which £503.22 was vet bills & related spending :eek:

of which £139.29 was on a yarn splurge that I really shouldn't have done...

So I spend £287.14 on real living cost...

I better get on with saving for the rest of the year...

(there just isn't enough crying emoticons to express how I am feeling about my spend)

cw18

pink_numbers wrote: »

of which £139.29 was on a yarn splurge that I really shouldn't have done...

But...

If you use some to make presents, then you can offset some money from that budget

and

If you use some to make things you can then sell, then you'll have income to offset against the cost (potentially making it money neutral)

candygirl

I've not broken my Jan spends down, as I total it all up as I spend it, and when it goes out of the bank IYSWIM:D:DIt works for me anyway;)

loopychriss

grandma247 wrote: »

Loopy chris Have you tried taking the burner out of the cooker? If you can get it out soak it in very hot water with washing soda and some sort of soap or washing powder. Then give it a good scrub making sure all the holes are not blocked.

Thanks grandma, will have to try that. I did say to hubby that we should maybe get it out, give it a good clean behind it and try and stick a needle or something down the jets in case they've got bunged up! I have had the cooker since 1992 though, so it's coming up for 18 years old (don't know how long modern cookers are supposed to last). That will be a job for hubby this week!

Tried the saucepan lid on the slow cooker... worked a treat...

pink_numbers

cw18 wrote: »

But...

If you use some to make presents, then you can offset some money from that budget

and

If you use some to make things you can then sell, then you'll have income to offset against the cost (potentially making it money neutral)

Thank you for making it seems a little bit better cw18 :T

I will be making most of my gifts this year, so yes, as a splurge goes, it's not a bad one. I could've spent that money on something that a) wouldn't give me hours and hours of enjoyment and entertainment and b) that would be useless as gifts

lyndasharp

I've been away with work for a week, so I don't think there's much chance of me catching up with posts!!!

My Jan budget is looking good, spent £899 of the £1000 so there is a bit spare for things like cutting down the trees out the front. Just had two quotes today, for the beech and the laurel it looks like it'll be around £170. I've got the price down by finding some people on freecycle who would like the wood, so although the laurel will have to be disposed of at least the big beech will be used. We tried burning the laurel last summer after it was pruned, and the fumes were horrid.

slowlyfading

Evening folks.

Just a quick update from me. i managed to go home this weekend on the train, but it was expensive - my return ticket cost £51.30 :eek: so that's obviously hiked up my total for Jan somewhat.

My total for January is £197.53 which is alright I guess. I'm pleased that it is under the 200 pounds mark, but can be much better. I'm hoping that, excluding the car expense which is deemed a necessity so I can get to my placement and therefore pass my course, February will be a cheaper month. I'm going to watch every single penny, as the car is probably going to drain all my funds anyway.

As you might have noticed, I'm not that happy at the moment. I haven't been since Christmas actually, and coming back to uni. It's not as if I'm not enjoying my course, quite the opposite, but it's being away from home, and the bf and feeling lonely all the time here which is getting to me. Just taking it week by week at the moment.

I have read all the replies but can't really remember specifics. Sorry

sf x