2012 Frugal Living Challenge (Part 1)

ClaireT13

Hi

Can I join please? Need to replenish £12,000 savingsre before I can start on my ultimate goal of being mortgage free!

Thanks
Claire

jammy_dodger

dizzybee wrote: »

hi,
can i jump on board please,
i really need to get a grip in 2012 just got a over payment due from carers allowance for the grand total of £7432.55.after managing to get debt free in 2011 i want to clear this has quick as possible i have agreed to pay back £300 per month but am planing to make extra money from e bay,amazon,surveys etc as well has living has frugal has possible, so first off will walk to and from work each day,look at cutting the shopping budget again,give up smoking.this wont be easy but will gii will have a chat with the doctor.

hi dizzybee just saw you want to stop smoking theres a fabulous thread on dfw diaries heres the link https://forums.moneysavingexpert.com/discussion/2957492

it has been invaluable to me ans so many others

jd x

Erme

JIL wrote: »

:xmassmileI did the secret santa a few years ago and the budget was £10. I bought a lovely gift for my £10 for the person I had. When I opened my gift in front of everyone I opened a mug with a flower on it. I knew full well they were £2.50 in the local shop, I could not help feeling a bit short changed. I was told it was the thought that counts by the person who I suspect bought it.

Erme I am not in lots of debt, just trying to watch my money a bit better as I have less income due to cutting my working hours due to being poorly and have children who have been/at uni and they have cost a small fortune.

Interesting to you say that...so what's the target expenditure for this thread? My gripe (apart from the social probs) is one of the target expenditure being too low...I think 2 years ago it was 4K regardless (bar rent and council tax) or something...which for me is simply unachievable...

But yeah makes sense you joining if you've got a drop in income and like you've put the dear ones through Uni etc..

Sorry you've been poorly....

Blessings

E

silaren

I would like to join in.

My main financial goals for 2012 are to pay off my credit card bill and then build up my savings again. Luckily, I'm waiting on a tax refund that will help me pay off almost half.

As a long-term goal, I'm also considering paying off my mortgage early so that I can live mortgage-free.

I'm not sure if I can live on £4000 a year, I think it's something to aim for though. I want to get to the stage where I'm not worried about my financial situation. Where I don't feel like I'm living hand-to-mouth and that my lifestyle is not a challenge.

I have a feeling this might be more about perception. As long as I see it as an adventure and a growing/learning opportunity rather than a necessity that keeps me from being out on the street, I think I will probably be okay. Carrot rather than stick, I think.

chika

Erme wrote: »

Interesting to you say that...so what's the target expenditure for this thread? My gripe (apart from the social probs) is one of the target expenditure being too low...I think 2 years ago it was 4K regardless (bar rent and council tax) or something...which for me is simply unachievable...

E

There isn't a target amount - as it says on the first post its about establishing how much you need to live off and make savings where you can. It used to be 4k but hasn't been for a long time. This year I'm going to try and live off 8k but I'm single with no dependents, It may be higher than some but there are certain creature comforts I like and I must have at least one foreign holiday! It may be much higher for someone with children. We are all different hence the freedom to pick and choose what we do.

Now please don't take offence but there is no need to "gripe" about that. If you don't like the idea you don't have to do it. Also this has been done to death but I really think this isn't the place to be filling with negativity about previous experiences you have had. I've said it before and I'll say it again, these threads are some of the nicest and supportive I personally have ever seen on the internet and I think the posters here don't have a nasty bone amongst them.

I hope everyone has a great 2012 and achieves their frugal goals no matter what we have to do to get there.

mooomin

chika wrote: »

This year I'm going to try and live off 8k but I'm single with no dependents, It may be higher than some but there are certain creature comforts I like and I must have at least one foreign holiday! It may be much higher for someone with children. We are all different hence the freedom to pick and choose what we do.

Ooh heck, I think mine will be higher than that. I support myself, Mr Fresian (can't work due to mental health issues) and two cats. I could live more frugally, but there are certain things I like to have as well such as cable telly

I'm going to download the Spreadsheet of Wonder today and try and get my budget fixed in my head. I expect I'll be back later sporting a large budget and a headache

Savvybunny2009

Hi, I have only just stumbled on the thread and would love to join in if I may? The next few years we have big plans but will need money to do what we need to and of course cutting costs can up you income so to say than actually adding income (sounds like a famous Martin line).

May I ask where to start please? Is there a spreadsheet to use?

TIA

Buffythedebtslayer

There is a spreadsheet of wonder?

Where's that then????????????

*attempts to work out budget on fingers, runs out of fingers, eats icecream*

chika

I need to sit down and do my budget too FF. Is this spreadsheet amazing? I'm frightened of spreadsheets! But if it's going to help me actually get some savings then I'm all for it. Realistically I think I'm going to have to figure out a way to earn more income in order to get some savings. I'd quite like to overpay the balance on my car (bought last year in a totally non frugal moment!).

mooomin

Look in the "Handy Links" bit on the first page and you'll see one called My FREE Spreadsheet.

It's amazing