How can I save?

Catslovelycats

AliceBanned I know where you're coming from on the single-front.

And it is important that you keep up your friendships so that you don't get into a spiral of isolation. Can you talk to your friends and explain that you're on a 'debt free mission' and request that your socialising is done in different ways so that you can still see each other but reduce the costs??

Everyone here is saying what they say to everyone else who asks for advice. Please don't feel anyone is getting at you because they aren't.

I too am trying to sort out my finances and it isn't easy. I'm hoping that once things become more of a habit it won't all seem so hard.

I went to food shop with £10 to spend on essentials and came away with a saving of £1.37 :rotfl:(which is going into my savings account). Not the hugest amount in the world, but it's a start. I know my grocery shopping could be cut and understand why you might find it difficult to get your head around it all.

Do read everyone's advice. We all mean well and genuinely want to help you.

the_cat

You have had some very good advice but don't appear ready to hear it.

The fact is that you are VERY lucky to have a HA home - I too live in the south east and a 1 bed place round here is minimum £650 a month. And you can just as easily get rubbish neighbours in a private let! A season ticket is more too at over £300. Many of us here pay about £50 a month on food in total per person.

You have only a few thousand in debts and a good salary. You have choices in where you make sacrifices in your budget and it will take you only a fairly short time to clear them. My blunt but well meant advice is to stop being so negative and feeling sorry for yourself, and attacking those on here who are trying to help you. By all means pick and choose the areas to save but the inescapable truth is that in order to stop yourself getting further into debt you are going to have to knuckle down and spend less or earn more

Firewalker

Hi there,

looking at your SOA (and assuming it is a faithful record which in many cases these are not) I can say the following:

1 Food - slightly over £200 is what I spend to feed three adults and a growing up lad. Am]nd we ear well and buy high quality meat and veg. You can probably half this and spend only £100.

2) Every month you spend £100 on clothes. This do appear a bit excesive - you would do better to buy really high qaulity suff less often or wear the clothes you have. You can bring this down to £20 per month (and this is still generous).

3) What is 'other travel' - this is £225 per month.

4) You spend £100 per month on entertainment and nothing for your emergency fund. This is very unwise - split it in half. Spend £50 on entertainment and put £50 in the emergency fund.

Simply making these little changes you can save well over £200 per month. But you also should:

Pay all your debt off; and
Think of earning more from casual stuff.

Hope this helps.

Firewalker

claire16c

I understand that £24k in the south with travel costs doesnt go far I used to earn about the same, and had to pay about £350 on the train each month to get into London, plus parking at the train station £80 a month (luckily I found a road I could park on in the summer and walk to the station, otherwise Id be paying £1k a year).

If I had not been living with my DH I could never have lived on my own on that amount. But you effectively have the rent of somewhere as if you were sharing- £300 is a good price, youd be paying more like £500-600 for a room if you move to London.

I think the thing you need to cut down on is the money for clothes. i used to have to wear nice stuff for my old job, but I still managed to find nice stuff in primark and looking on ebay.

The other thing is grocery - you can definitely cut down on this if you make a food plan each week and stick to it, dont buy takeaway or readymeals on the way home etc.

Try to reduce the amount you get your hair cut.

If you can get your hair cut twice a month instead of every month and half your grocery bill, thats another £125 youd have to pay off your debts. and once youve got rid of them that frees up more money.

Catslovelycats

claire16c wrote: »

If you can get your hair cut twice a month instead of every month and half your grocery bill, thats another £125 youd have to pay off your debts.

:T:T:T

(PS: we know what you mean really!) :rotfl:

LondonGirl252

Hi Alice,

I hope you do come back and read all the responses there's a lot of good advice here giving with good meaning. No one is getting at you, I am also single and living in London and understand what you mean but there are ways of doing it. I pay over £700 in rent and bills pm and am paying £500 off my debts. I dont feel I'm missing out on life by it either there's just cheaper ways of doing it. I haven't had a holiday in over a year but that's my choice as Id rather be able to pay for it than increase my debt.

Please read the responses and take them as they were meant as you really can get that cleared very quickly if you just make a few small changes

Good luck

Cherryjack

definetly too much on food.. im spending £200.00 on 2 adults and 1 child and we have packed the house out with the stuff .. try and cut the clothing down.. just making a few changes can really mount up over the year and you will feel fantastic for it.. you really will..
If you have been spending £100 a month on clothes then im wondering if you have lots of stuff you could ebay? if your fed up of it and not wearing.. u can make some really good extra money from this and put it in your saving pot..
There's a saving pot challange on one of the threads that could be really good for you also.. pick up all the little tips on these boards and you could be flying high soon ( to an even nicer holiday destination :-)..

Keep positive and good luck

soxxxxy

Hi AliceBanned,first and foremost well done on asking for help.I am no financial expert and everyones situation is different but i am sure you will find ways of saving thanks to all the wonderful people on here.I would suggest that you take on board all the suggestions that are made,but remember you dont have to follow all the advice.Mull things over for a few days,read as many of the money saving threads as you can and just begin by making small changes,that way you are more likely to stick with it.Although i am married i do know what its like to be in on your own alot as my OH works away most of the time and my kids have grown up and have lives of their own.I find that time flies when i am on here and never feel lonely because there is always people to chat to on here and you save money at the same time,so thats a win win for me.My only recommendation would be to join one of the challenges like the save £10 a day challenge or pay a debt in 100 days. What ever you decide to do i wish you lots of luck and i will follow your thread.

Foolish_spendthrift

Hi Alice. Well done for posting. I lurk, rather than post, but wanted to offer you some encouragement.
You're obviously fed up with how your life is right now. I sympathise, I'm also a 40-something singleton working all hours and it can be hard when all the financial responsibility starts and ends with you with no support network or entitlement to benefits. The people on here are generally helpful and full of ideas, so do take time to read them and think about what's being suggested. Some forumites get by on about half your salary, hence the comment about you earning a decent amount, but I realise the general cost of living is high in the SE, and season tickets and other travel costs take a huge chunk of your earnings.
From your SOA I'd say your food bill is way too high - you should be able to trim it by at least a third, if not more. It doesn't mean you have to exist on bread and dripping - just plan your meals in advance and shop accordingly (Aldi and Lidl if you've got them - don't be sniffy about them, their quality is great). If you currently buy your lunch each day, make it instead, perhaps saving Friday as your 'treat' day. If you eat out a lot, try and re-create your favourite menu at home.
If you're commuting Monday - Friday, do you really need to run a car? It could save you a lot and really eat into your debts if you could do without it for the time being. I realise you may need one for socialising, but what's your average journey length if you're going to friends - could hiring one be better?
For socialising - what are you doing? If it's meals/drinks out, then why not try some other activities that would cost less - Zumba, walking, crafting, comedy nights, cinema...? You could meet some new friends that way and give your social life a boost.
Clothes: if you're spending that much every month, your wardrobe must have elasticated sides - cut the spending right down for now - only replace something that's worn out, and customise any other pieces you're tired off; failing that, put stuff away for a while and when you bring it out again it'll feel like having something new. I assume that your working wardrobe matters because of your job - ring the changes with scarves & other accessories and no one will notice you've had that blouse 6 months. There's a whole crafting community online with amazingly inspirational ideas.
Holiday - I'd say go without this year, but instead of being at home and feeling miserable, use your season ticket and have some days out, going to free places and events, maybe meeting friends for lunch. You don't have to spend as much and can still feel like you've had a break; alternatively, spend some of the money you might have spent on a holiday on something special for yourself, which will last longer than a holiday.
There will be people saying don't spend anything at all, but I don't think that will work for you right now. Start a spending diary, see where any spare cash is going, and just discipline yourself to pause before a purchase and ask yourself if you really need it, or just want a bit of retail therapy.
Things will get better, but only after you've addressed your budget, and believe me, once you've started to analyse it and feel like you're in control of it, your spirits will lift. Good luck.

claire16c

catslovelycats wrote: »

:T:T:T

(PS: we know what you mean really!) :rotfl:

haha whoops! :rotfl: