Moooooving back to DFW - one Fresian's continued adventures in debt-busting

mooomin

I can explain it if you like....

rising_from_the_ashes

beanielou wrote: »

Oh phew rising so glad that its not just me.

Me too!:D Honestly, I've tried but .....

flying_fresian wrote: »

I can explain it if you like....

Arrrgggghhhhhhhhhh *runs away quickly* :rotfl::rotfl:

Hopeful1

flying_fresian wrote: »

I can explain it if you like....

I did forget to add the line, that when I am ready, I would be asking you to explain it to me.....:)

psychopathbabble

rising_from_the_ashes wrote: »

Me too!:D Honestly, I've tried but .....



Arrrgggghhhhhhhhhh *runs away quickly* :rotfl::rotfl:

I kind of understand it, but I think if i tried it, I'd get so confused. Plus Mr S thinks i'm already mental....

mooomin

Hopeful1 wrote: »

I did forget to add the line, that when I am ready, I would be asking you to explain it to me.....:)

Here's how I do it....

I have one purse for my normal food shopping.
I have a second purse.

Start of the month:

Add £180 to first purse and £20 to the second purse to make up my total budget of £200.

Essentially, I buy bargains with the second purse and store them in a special cupboard, then when I need to use them, I buy them back from the second purse at a price which is still a bargain to me, but makes a small profit for my second purse.

The best example of this is my recent hairdye purchase. I normally can't find it anywhere for less than £4.49 but it was on offer in Superdrug for £2.69 per pack :j This is how it worked using the second purse system:

Bought 5 packs using my second purse fund: £13.45
Will buy as I use from grocery fund @ £4 per pack: £20
Second purse profit: £6.55

It will take five months for me to make that £6.55 profit, as I dye my hair once a month. I wouldn't normally have enough money spare in the food budget to buy £13 of hairdye in one go, but it was sitting in my second purse ready to take advantage of the offer.

I've been doing this system since the start of the year, and have already hit my self-imposed limit for the second purse of £50. Once I go over that, I put the excess into a piggy bank I've set aside. I stock up on things like beans, teabags, coffee, toiletries etc when I see them on a really good offer. I still buy them back using my food budget, but at a price that would still be a bargain for me. Last week I barely needed to go to the shops at all

Does that make sense?? It took me a while to get my head around, but now that I do get it it's great. I've got a spreadsheet which shows me how much I bought things for and how much I plan to sell them back at, which keeps me on track and lets me balance my purses weekly. If it doesn't make sense, feel free to bombard me with questions!!

mooomin

I paid my money into the bank yesterday and have done some money transfers, so my VSP is underway again with £21.07 in it, and my savings account is up to £315 I've made a small PAD to the loan which will be under £400 outstanding by the time I next get paid. I checked yesterday and there was just over £408 still to pay, so all PADs for the rest of the month will be going towards that and hopefully I'll pay it off next month after the monthly payment comes out. I will use my overdraft to do that as it's interest-free and just PAD to there until it's completely paid off. Not long to go!

beanielou

Blimey you are amazing woman

Hopeful1

beanielou wrote: »

Blimey you are amazing woman

I completely 2nd that.

Now the 2nd purse makes sense! Cheers ears. I think I'll start that in the next couple of months. Mmmm something else to think about and another list to write (i can't do spreadsheets but i CAN do a list!! )

mooomin

Morning all,

Well we had a lovely meal last night with Mr Fresian's family but sadly I think I ate some kind of dodgy prawn as I was up being sick at half two this morning I got up with the intention of going to work, but am exhausted so I'm going back to bed soon.

I got some money through this morning for petrol expenses from work and from Paypal, so have put £10 away to cover any additional fuel I need this month as I only have £44 left on my petrol card and I don't know if that will be enough to cover me until I get paid. The rest has gone to my savings (now at £330) and my loan (now under £400)

Hopefully I'll be back again later once I've had some sleep and will be perkier. Feeling like death warmed up at the moment...

DedicatedDFW

Hope you feel better after a rest FF - you take care x