Frugal Living Challenge 2011 - part 1

SandraScarlett

What a wonderful thread, and what super ideas! My DH and I are pensioners, and good at stretching the pennies, but you're never too old to learn. May I give you my recipe for a really cheap, warming and filling soup?

After removing all the "good" slices of meat, I boiled the turkey carcass for a couple of hours (I do this at non-Christmas times too, with chicken), stripped every vestige of meat from the bones when cool, then added the meat to the stock with all the left-over cooked veg, plus some fresh veg, a couple of chicken stock cubes, and some generous handfuls of egg vermicelli.

Cook this for about 10 - 15 minutes, and it's lovely. The pasta absorbs a lot of the liquid and is so filling. I stored portions in the freezer, and we still have enough for lunch till the end of the week, so that's been lunch for a fortnight. If it's really cold, a few home-made dumplings will keep the extra chills at bay!

xx

OCD

lynzpower wrote: »

you could post your soa here or on the dfw board, we could take a look ?

Thank you. Here is our SOA:

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 1711
Partners monthly income after tax....... 1050
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2761

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 525
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 36
Gas..................................... 0
Oil..................................... 0
Water rates............................. 17
Telephone (land line)................... 15
Mobile phone............................ 30
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 7.5
Groceries etc. ......................... 200
Clothing................................ 25
Petrol/diesel........................... 105
Road tax................................ 23.83
Car Insurance........................... 63.75
Car maintenance (including MOT)......... 29
Car parking............................. 6.4
Other travel............................ 70
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15.33
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 13.6
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 25
Haircuts................................ 19
Entertainment........................... 70
Holiday................................. 120
Emergency fund.......................... 0
Total monthly expenses.................. 1504.33


Assets
Cash.................................... 0.01
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2400
Other assets............................ 0
Total Assets............................ 2400.01

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,761
Expenses (including HP & secured debts). 1,504.33
Available for debt repayments........... 1,256.67
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 1,256.67

Personal Balance Sheet Summary
Total assets (things you own)........... 2,400.01
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 2,400.01

Created using the SOA calculator at make sense of cards
Reproduced on Moneysavingexpert with permission, using Firefox browser.

As mentioned earlier - I find is shocking and somewhat disheartening that our transport costs are so high. The amounts above are for the two of us living in one household. They are a combination of figures from my budget and my partners budget. My figures are accurate and based on actual past spending. My partners figures are based on allowances made for items each month, and are probably over-estimates of monies spent.

Entertainment includes membership of a sports society, which I attend frequently and which I certainly get my money's worth compared to paying for each visit (34 pounds total).

Holiday costs seem high while I am going down the list. We have family who live abroad, who we budget for to visit every year (plane tickets, insurance, food etc. while there).

I would love to reduce costs where possible. It is satisfying to know when you are not overspending, over paying for something and not wasting unnecesarily.

Erme

itsallinthemind wrote: »

Must be, all the Thervadas I know are very frugal(still generous though):D

What's 'thervedas' out of curiosity.....sorry still (despite the espresso and 1/2 a nap) half a zombie and it's so cold and wet I don't want to go out again...in fact cold even indoors (half the planet below me must be at the sales LOL) though it says 21 on the thermometer so maybe it's just me from getting wet

So tired am reluctant to post on my daily agendas thread even though I've done okay and hoovered the bedroom this am (that took some doing - hasn't been hoovered for donkeys) - though suddenly I have an extra wardrobe of coathangers which have come from I don't know where :rotfl: and have found more jobs to do another day - sorting out bank statements - what fun LOL

Puddleglum wrote: »

DD cheerfully informed me that she had found a dead nit this morning.:eek::eek::eek::eek::eek::eek::eek::eek::eek::eek: We got rid of them a few months ago and some how I always manage to delude myself into thinking that they won't come back. It's regular torture with the nit comb here plus tight plaits. When I reach the end of my tether we use chemicals but they don't really work IMHO.
:eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek:

Edit to add. Cheap hairspray helps alot as well.

I feel for you with plaits. I too have long hair (it's part of my calvinism) and it can be awful at times to keep in good nick. I used to go really frugal on the hair cuts and even went a year without going to the hairdressers - but in the summer I found a good hairdresser via a voucher site and even though I don't get vouchers for her anymore she does such a good job of my hair (about £34 last time for a Cut and blow dry) that I think she's worth it. I only go every 4 months anyways. I know you're 'supposed' to go more often than that but my hair really doesn't need it...about the 4 month mark though split ends start to appear

OCD wrote: »

Hello, I am new to this site - but already think it is wonderful. I found this thread from a recommendation from skint_chick over on a £5k a year challenge thread.

I aim to spend no more than £5K (excluding rent and council tax). This may seem easy for some of you experienced money savers - but I think it will be a starting point ( a challenging one). When I have achieved it I hope to reduce the amount.

My motivations for this are increasing the amount I can save and reducing wastage. I think we already live fairly sensibly but there is room for improvement - and no better way to try than to set a target.

From the first post in this thread I already do the following to try and live frugally:
Spend within your means
Set a proper budget
Houseshare
Shop via cashback sites but always price compare
Buy reduced items in stores only if you need them
Stockpile & bulk buy
Batch cooking
Make the most of charity shops
Join Freecycle or other similar waste awareness and recycling associations
Card & gift making
eBay trading

I do not plan to use any of the other methods, so will need to maximise savings and income via the methods I listed that I already use.

One thing I have noticed while budgeting is just HOW MUCH TRANSPORT COSTS.
I agree that use of a car is a luxury but I am thinking of ways to cut this down. I can reduce usage by using public transport, but I will find it hard to get rid of it completely as I need to make a journey which is not possible via public transport. sharing a car would be great

Does anyone know where I can post an SOA for people to look over and maybe suggest ways of reducing outgoings?

We are making a large batch of lasagne later - looking forward to it.

I can't really advise to re posting a SOA but it sounds reasonable. I have one major whoopsie which the oldies will know about but the newbies won't that I'm ashamed of but working towards getting rid of so hence my challenge is 5k...this is for me as a singleton minus rent and CT.

To do this I have no sky, cashback mobile etc. and cut back where I can (to allow for the whoopsie...only way). I have my weaknesses. I'm not perfect and have a disability but I'm working on making my whoopsies more economical.

You may not succeed this year but don't be downcast if you don't....learn from it, dust yourself and try again.

This forum is HUGE so like there's a place for everyone to fit in in every circumstance and every stage of life..that's what's so great about MSE ...

So yeah welcome newbies from a slightly older (and hopefully wiser) newbie

E

rainbowcattail

Hi all

I would like to join please although I will probably be more of a lurker than a poster and try and use this thread to keep me on track. I will work out our budget over the next week hopefully. Unfortunately this year we have to replace the bath room (the shower is about to blow up I fear and we have now put it off for 7 years it is becoming one of those things that cannot go on much longer) and we have to rewire the house as it is getting unsafe. The bath room we are intending to buy in the sales as we managed to save £5k last year, I am really hoping this will cover most of it. The rewiring Im not sure how to fund yet, savings from this year and overdraft hopefully. We dont have any loans (bar the mortgage) and I am trying to avoid taking any out. On the plus side we are also intending to grow our own veg this year and we are on the waiting list for an allotment. Well I am, Mr cat_tail thinks I am mad.

Mr cat_tail is currently on board with the new frugal outlook especially as it looks like I may be made redundant this year. Apart from working out spendings and changing suppliers if necessary Im not sure where to start. A monthly meal planner? How do you work out gas and elec if you pay quarterly (sorry Im not good or logical with this sort of thing) I will read all the links in the first post.

EFC - I hope your cat is feeling better, something similar happened to our cat a few years ago and luckily the insurance covered all of it as it was expensive.

thanks for the inspiration all

xx

OCD

I've just realised I put 184 per month for medical costs!
That should be a year.
This makes our monthly expenses = 1504.33
1504.33-council tax and rent (600) = 904.33.
904.33/2=452.17
453x12=£5436

Therefore, based on our current budget, we would not be able to achieve the 5k challenge individually.

Need to make some reductions somewhere.

shebrett

Mooloo wrote: »

I havent sorted out the budget yet, but hoping to do so soon. I will probably fall off the wagon at some stage as I did last year. But the ethics of saving are now routed deep. I still say no to things that I would once buy. However I do buy magazines when I am bored.! Oops.
Spend a lot on Childrens comics for DGD too.! Must do better this year.

Edit. I have not been able to save the spreadsheet Cheryl as I dont have a proper Microsoft Office, only Microsoft Works Task thingy. So I will have to do it all the hard way! I had managed to enter my figures in, and apart from Rent it was already coming in on £12,000 plus. So I really will have to be rethinking, as I know that due to getting Taxcredits for my son, my council will eventually catch up with my reassed claims (I have told them of my changes in circumstances, but they still havent sorted it out). My rent is £95.67 a week, plus I will have the back log to clear which will go back to September! when I was in the other house! at £500 a month rent.
My Car is Poorly sick, and the budget for the repair of that is really unknown!

Hey Mooloo, I don't have the microsoft office package either. I use AceMoney Lite, a freeware program ( http://download.cnet.com/AceMoney-Lite/3000-2057_4-10208687.html?!!!!!mncol;1). It allows you to set up 2 accounts and you can put in a load of categories and your budgets for each etc. Then you just enter bills as they come up and the program can give you reports on pretty much anything. You can be as detailed or keep it as simple as you like. It also lets you follow stocks/investments and link to you bank if you want but I just use the budget and bills section.

There is a version that lets you set up more accounts if you have several banks but this free version is enough for me. Thought it might come in handy for you.

PS: Cnet is a safe download centre in case you are wondering and the link takes you to the page that tells you about the program you decide when there if you want to download or not

kittiej

Can I join the live on £4000 a year please?

Things are going to be even tougher this year I fear

OCD

wow kittiej.
i've got alot of respect for you being able to do 4k a year.
I would love to know how people do it.

I am going to take a look at the old style boards for some recipes as I suspect alot of people are reducing costs through sensible use of groceries.
If a family can spend 100 less per month on groceries, that is a 1200 pound a year saving straight away.

chika

Mooloo wrote: »

I havent sorted out the budget yet, but hoping to do so soon. I will probably fall off the wagon at some stage as I did last year. But the ethics of saving are now routed deep. I still say no to things that I would once buy. However I do buy magazines when I am bored.! Oops.
Spend a lot on Childrens comics for DGD too.! Must do better this year.

Edit. I have not been able to save the spreadsheet Cheryl as I dont have a proper Microsoft Office, only Microsoft Works Task thingy. So I will have to do it all the hard way! I had managed to enter my figures in, and apart from Rent it was already coming in on £12,000 plus. So I really will have to be rethinking, as I know that due to getting Taxcredits for my son, my council will eventually catch up with my reassed claims (I have told them of my changes in circumstances, but they still havent sorted it out). My rent is £95.67 a week, plus I will have the back log to clear which will go back to September! when I was in the other house! at £500 a month rent.
My Car is Poorly sick, and the budget for the repair of that is really unknown!

Hi there,

Have you tried downloading Open Office? It's compatible and similar to office and best of all free, can't get much more frugal than that! http://www.openoffice.org/

jo70mo

I'm using open office and it seemed to open the spreadsheet for MS2007 just fine. Have been using it and all seems to total and add up fine.
Jo x