Our beautiful recycled life: a patchworking income, green living, dfw adventure!

DedicatedDFW

redsquirrel80 wrote: »

It is a very strange thing to actually have money to do something with! I've not really this month having just paid the last bit of debt off, but as of next month I will suddenly have lots more available. I've still got a budget worked out though, but it's mainly aimed at being able to save lots so I've just upped my food spend a little bit, I pay £60 for music lessons strangely enough, and then I've given myself £50 for bits and pieces like books and clothes. Everything else goes to savings, some for long term and some for things like holidays and the courses I want to do. I'm not actually sure I could cope now without at least rough budgets - think the DFW habits get ingrained!

Dedicated, one of the things I did was to make a list of those things I wanted to do and roughly how much they cost, so they were either budgeted for each month (like the lessons) or I can figure out when I'll have saved up enough to do them.

The nice thing I suppose is having that flexibility, if there's something you really want/ need then you can choose to buy (or do) that and save a little bit less that month. Still feels very weird though!

Thanks redsquirrel and congrats on being debt free :j:j:j That must be a totally amazing feeling

I think i definitely like the structure of budgets in terms of knowing where the moneys going and whats needed for what

You've raised some really good points though - i think i need some money for spends / treats / frittering type things and this is separate from the money i want to use to say invest in myself - music classes , skating and courses which is again separate from the bigger treats which are holidays amd adventures - This is what i was really struggling with £60 for music classes seemed like it would take up all my spending money for the month and more :eek:

Really really appreciate your input thanks

starnac

That is a good point raised by DDFW. What would we all do with our "debt" money once it's all paid off. For us it would be put into savings as we want to buy some land and build our forever home before our children get too big. But red was right I suppose I would need to factor in some "treat" money too.

It's a good job you have all inspired me to start sewing again as I may be making 10 Victorian bonnets for the church choir soon. Why on earth do I agree to these things????????

DedicatedDFW

Thanks starnac

I should clarify that once i'm debt free i'll be a mfw That sounds like a fantastic idea with your forever home and a forever home is something i want to aim towards too Which is why i want to pay down the mortgage i have as much as possible. My income is really low and when compared income to mortgage its :eek::eek::eek: I *do* feel very lucky to have my mortgage though. Before we were spending thousands a year on rent - the rent wasn't much less than the mortgage i have now and i just got the mortgage and moved in before being made redundant (totally unexpected) - hence the debt But when i'm a mfw i'll want a bit more of a life x

DedicatedDFW

Victorian bonnets are cute aren't they? if i'm remembering the right ones You'll have to show us pics once you're done

Keiss_21

starnac wrote: »

That is a good point raised by DDFW. What would we all do with our "debt" money once it's all paid off. For us it would be put into savings as we want to buy some land and build our forever home before our children get too big. But red was right I suppose I would need to factor in some "treat" money too.

It's a good job you have all inspired me to start sewing again as I may be making 10 Victorian bonnets for the church choir soon. Why on earth do I agree to these things????????

Wow, good luck with that starnac. Search for old lace in CSs and CBs, if you don't have any yourself. I might have some up in my trunk in the loft....when do you need it? I might have to wait until DS1 gets home from uni on March 18th though. I am using his room as a craft room, and you can't get to the hatch to the loft atm!!!

Piq - I have only done some dyeing twice. Last year with the local quilting group, and a few weeks ago on my own...a bit scary, but great fun!!

Been to my evening class tonight, missed the last two weeks, but everyone was sent home last week as there was a power cut!! So we have two more sessions left, rather than one, so that's good. Looks like they covered mainly how to use Excel a couple of weeks ago...and as I have taught it before, I didn't miss much that I didn't know before

Right, off to bed now....shattered and choir singing in the morning :j:j

Pippilongstocking

Lovley lovely talk on here- DDFW you've raised a lot of really good points. I think I'm doing nowt with my wages at the moment, partly as I've a year and a half of 'not working' on my cc's (albeit not that bad but its nagging at me, and two overdrafts to get out of) - I think Red's answers (Hi there RS) were brilliant. A very clear and cool way of looking at things and other folks have given brilliant replies.

Clearly I need to set myself a budget other than 'bonios and adventures' - these need figures so thank you for making that clear for me.

Working last night too - a youth club - crafts - I'd like to say it went brilliantly but it was a bit of a mixture/muddle

I think I give folks too many choices although we were really well prepared - mind you concentration wasn't great when you combine sugar and fizzy drinks and chocolate into 9-11 year olds.

I was more suprised that the older helpers - didn't know how to sew (even a running stitch) - bit shocked at that.

Hey ho a learning experience. I'm going to look into glue that can be used for crafting fabrics (from Kirsties homemade?) and look at trying to get on a few courses to teach me more skills/how to deliver workshops within time/and for ideas.........

Karmacat

Another one *amazed* by the card, Keiss, especially that one, its really beautiful. And ever since you mentioned Dorset buttons, I've been thinking about them as being suns on a card.

I have an idea too (for you) - you're looking at business opportunities, yes? Its lovely to do handmade cards, and there'll always be a market for them, but what you *could* do is what I've been thinking about, in another arena, and make a few really, really fantabulous cards, take photos of them, and experiment with printing them out, selling them at lower cost per unit, but sell *lots* more. Eventually you could get them printed by an actual printer, rather than by you yourself, and build your own empire

I've just been thinking


ETA - Hi Pippi, just crossposted - my word, that is a shock. As to muddling - well, its all learning experiences! Did you enjoy it?

Cheery_Daff

Sounds like there's a market for basic sewing classes/repairs/crafts etc for adults too Pippi!

Interesting talk in here...

DDFW - Last year I got a full time job after working 2 days a week for years. My job is only for 2 years, and I really worried that I'd just go mad and spend all my wages, and then get used to that money, and HAVE to find another full time job straight away afterwards So straight away I bunged £400 a month in a savings account, and more in an emergency fund, and have stuck to that, and never missed it because I didn't have it (f you see what I mean!)

I also budget for big treats and small treats I have

* £70 a month holiday fund (includes days out - and means I can just book the odd weekend away when I fancy it)
*£20 a week frittering fund (in cash - usually spent on tea and cake in cafes, unnecessary things from charity shops etc )
* £50 treats fund (stays in the bank, usually goes on things like clothes, books, diesel for an extra day out, meals out etc)

Mr Daffs ain't earning much right now, so I also have a £30 'joint treats fund' - which means we can go out for breakfast whenever we like without quibbling that he can't afford it, and doesn't want me to pay for it - because I'm not paying for it, it's the joint treats fund

Ooh, and music lessons - I was having some before Christmas - I was just paying £13 for half an hour though (I did it every week, but no reason why not every fortnight).

Sorry Pippi, long rambling post - I just think it's really important to separate budgets - you don't want to find yourself thinking 'I really want to do this course but I've spent all my money on fairy cakes', or, conversely, 'I really want tea and cake but I spent all my money on that stupid course' Budgets let you make decisions in advance! (but also need to be a bit flexible...)

Will stop waffling now

DedicatedDFW

Hey everyone - once again thanks for the input on budgeting

Cheery - really appreciate all that well thought out budgeteering info Just so's you all know considering it may seem odd that i'm budgeting for when i'm debt free now when i've still a large amount owing Last month i had 7 places i owed money to - 3 overdrafts, 3 credit cards and 1 personal, by the end of this month i am aiming to have 1 overdraft, 2 credit cards and 1 personal and by then end of next month have 1 of each - an overdraft (the one i live in ) a credit card and the personal debt approx - owing then £4160 which i *could* clear in june but probably won't as i want to overpay the mortgage and 2 of these things are interest free.

My plan is to become a mfw so throwing as much as possible at the mortgage but i also realise i need to build up some 'rainy day' savings. i need to budget for car things - tax, insurance etc. - whereas with the debt repayments this sort of budgeting just hasn't been possible.

And then i want to do more 'fun' things but within a budget as i don't want to just - as you say cheery 'go mad and spend it all'

Of course in wanting to do all these things i don't want to find i can't as i paid the money off the mortgage and left myself too short.

I also want to get in the right mind-set now - and it feels right too - to think about what i will do when i'm not paying out to all these bills rather than have the joy of not having any debt to pay back but get to the end of the month and wonder where my money has been frittered away to :whistle: - especially as i'm looking forward to more tea and cake :coffee:

DedicatedDFW

Oops - sorry for the thread hijack pippi