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

rictus123

Evening everyone how are we all tonight? Fine quick day at work, since iv come home iv had tea, had a shower, got my relaxing gear on and now sat down to finish my can of diet coke...Payday Friday

FrankieM

Pigs trotters....yuck.....so yuck in fact that I fed them to the dog. Well I got of bits of meat first but just couldn't eat anything else....very frugal though cause now my stomach is so queasy I'm not sure when my next meal will be!

rictus123

Is anyone on this thread in debt? I know its a silly question really given what website im asking on but you never know. Id like to ask how much of an emergency fund everyone has? I know about 3-6 months living expenses is the reccomended but id like to know everyone elses take. Need to get some good saving habits now iv got the budgeting sorted!

FrankieM

rictus I have £1000 in my emergency fund but have a direct debit that goes in every month that will build it nicely...as long as I don't have an emergency

mooomin

rictus123 wrote: »

Is anyone on this thread in debt? I know its a silly question really given what website im asking on but you never know. Id like to ask how much of an emergency fund everyone has? I know about 3-6 months living expenses is the reccomended but id like to know everyone elses take. Need to get some good saving habits now iv got the budgeting sorted!

I have around £5,500 of debt and am saving to pay it off at the moment. It's a loan so the rate is fixed and it makes no difference if I make overpayments. I have £1,700 saved so far and will clear the loan as soon as I have enough. I plan to do this as soon as possible!

I aim to build up at least £1,000 in savings within six months of clearing the debt and only plan to add to this as time goes on. Hopefully life doesn't have other ideas

rictus123

Frankie, are you adding alot to it? Do you have debt? I think i might save a small emergency fund ( just "hold it" in my current account and try my best not to go below that amount unless really need to) then pay my debt off then put a bit away into a savings account, maybe an isa so i get the tax free benifits.

As for FF how soon do you think you will save that extra £3,800? At least you have a plan you know what you need to do!

grandma247

rictus it might be a good idea to think about what you would want the fund to cover. Car repairs perhaps? then decide how much you might need to find to pay for it then aim for that first. When you have that saved start adding to it for any other emergencies you might have. Small goals are easier to achieve at first then set larger ones.

lingojingo

Hi everyone, sorry I haven't posted for ages, life got in the way, but have been reading as often as I can.
Congrats to sf on getting the job :T

Am visiting DD in Edinburgh for a few days from tomorrow, hoping to get across to Glasgow to see an Uncle before coming back Friday and then going to DS in Manchester on Saturday and a friend in Leeds on Sunday, good job I got my train tickets cheaply in November :j

I had to use nearly all my rainy day savings to help DS recently, but hey, at least it was there when we needed it. Noe starting again, it takes time but is worth it.

JayJay14

Long and boring day at work (but this time next week will be starting a weeks hols:j)

Have cashed in OH's old phone, so that is just over £30 plus £4.50 from topcashback when it gets sorted out. So more towards the garden fund, OH will be buying the cherry tree in Aldi on thursday:D

chika

Hi frugallers,

Its been a bit quite here so not much posting. I've been busy trying to make money and thanks to this board discovered Amazon - I've sold 15 things in the past week and made just over £150 after fees and postage so I'm well chuffed.

I took my young charge to the petshop today and totally fell in love with the Degus. I think I may have to make some room in the budget for a frugal pet or two. I think the biggest set up cost is the cage but I'm going to use the Amazon money to cover that. I'm really excited - I can't wait to get them

It's half term/reading week here and I want to go home to Yorkshire to see my family. I might be able to persuade someone to do my hair for free too which is a bonus - In a Manchester salon I'd be looking at £80+. The savings from that will cover the cost of fuel getting there.

Hve a great frugal week everyone :-)