Second Purse Challenge 2012

kerri_dfw

rachbc wrote: »

mumwithamission wrote: »

Hi everyone . Can't quite get my head around buying stuff back at full price, still seems too much to take out of my grocery budget (perhaps I'll have DFW312's lightbulb moment eventually ).

This is the bit I don't get - If I do this I can see my first purse/ grocerries budget for the month running out of money as I am using it to 'buy' stuff from myslef at a price I would never really paying the shop. For example beans at 65p for a single can - I would never buy a single can of beans - I would always buy a multi pack.

It all just seems complicated but that could be me! Surely an easier way of doing it is just to put the money you 'save' buying in bulk asiade when you buy - so beans are usually £1.80 for 4 but on offer at £1 - -buy 10 and put £8 in a savings pot?

It's your shop so you can set the prices to whatever you choose I am going for current shop price so I can see what I'm saving against the SM. Currently beans are £2.55 for 4 in Mr T and Mr W, which is where I shop the most so I have set my shop price to the same to be competitive with the SM.

There's no hard and fast rules, the jist of it is to buy in bulk and keep the saving.

jakes-mum

Goooood mooooooooooorning :wave:

got absolutely nothing to update you with but you know how much I love to post :rotfl: to those that are saying about the cost of buying stuff back from your self, the way im working it is (with the help of kerri's wonderful spreadsheet) im taking the current price for the sized item I have bought to work out my 'shop price' eg as I would never buy a single tin of beans, I only buy in 4 packs or more, I am taking the usual price of a 4 pack of beans and dividing it by 4 to get my single tin cost. I am also only including items that I would normally buy whether on special or not so I really AM saving money from stockpiling at a bulk buy cost.
I've actually always bulk bought anyway, but out of the money in my purse and not at a huge quantity because I couldnt afford it on my monthly budget, to build up a purse specifically for deals means if baked beans are on offer I can buy 10 - 20 packs of 4 tins which should last until the next supermarket puts them on offer, rather than 4 packs that last 4 weeks and I then got buy 4 packs at the standard price until another SM put them on special. The other side is of course that I wont then 'reward' myself in the SM with a nice chocolate cake/fancy pack of biscuits etc because ive done so well with all my bargains

rachbc

kerri_dfw wrote: »

rachbc wrote: »

It's your shop so you can set the prices to whatever you choose I am going for current shop price so I can see what I'm saving against the SM. Currently beans are £2.55 for 4 in Mr T and Mr W, which is where I shop the most so I have set my shop price to the same to be competitive with the SM.

There's no hard and fast rules, the jist of it is to buy in bulk and keep the saving.

I do really like the idea but am just mulling over how to make it work for me - I might be flexible with the rules! Just thinking I might do it with yellow sticker stuff too...buy it form my 'second purse' then buy it back - be good to see the savgings grow and can always adjust if i find I am spending too mcuh buying stuff from myself!

SueP19

rachbc wrote: »

This is the bit I don't get - If I do this I can see my first purse/ grocerries budget for the month running out of money as I am using it to 'buy' stuff from myslef at a price I would never really paying the shop. For example beans at 65p for a single can - I would never buy a single can of beans - I would always buy a multi pack.

It all just seems complicated but that could be me! Surely an easier way of doing it is just to put the money you 'save' buying in bulk asiade when you buy - so beans are usually £1.80 for 4 but on offer at £1 - -buy 10 and put £8 in a savings pot?

I was just the same as you, I really counldn't see how it would work for me but it does.
I buy once a week from my store, so instead of buying a can individually I will buy a pack of 4 on Friday..........my store is the first place I pay out of my grocery budget. I think that bit is very important, if I run out of something I will add it to the "buy from my store" list for next week. I have 2 items on it already as hubby pinched a deoderant unbeknown to me :mad: I figured this way I would not be nipping to the supers and by adding to next weeks list I have stopped myslef getting cash out to pay me back By paying myself first I then have to be precise about what I buy from the supers, so it stays within a set amount each week (the grocery challange)

What I have found is the cost of the food (foods not available in my store....yet) left over has reduced each week in price

I would give it a try with a few items first, as mothership said in her post go for things that you use every week, for me it was dog food and tea (hubby drinks gallon of it)

Mothership, I am very surprised that a thread has not been started before, it's genius (ta again Kerri)
I have to tell you all, a couple of Fridays ago I explained it to my mum, who said in that tone "yes dear, I will have a go" Yeah I thought.
To my utter shock, this Friday when I asked her how it was going, I was expecting a vague muttering from her, she proudly told me she had £8 in her second purse :eek::eek::eek:

rachbc

ok I'm persuaded - I'll start next month

Annie_99

Hi All,
Ive been reading the 2nd purse and GC threads and think they are superb!
We are a family of 3 adults and a 4 year old and my shopping is usually about £80. I also spend a fiver on slimming world a week.. I have 400 pounds a month for shopping but seem to run out of money somehow or am muddled and confused about how to manage it.. Some may know me that I have bad dyslexia and dyspraxia.. This is why im muddled :rotfl:

Now here are the questions.. Do I draw out the 400 and put that in purse 1. Then put 10 pounds in purse 2 and use that for my shop, then when I use an item, I pay out of my purse 1 to purse 2 for what I have bought?

Please be patient with me!

kerri_dfw

Annie,

My GC budget is £100 for next month, but I'll add £10 to my 2nd purse.
So...
1st purse: £100
2nd purse: £10 + remainder from this month

Buy 1 tin of beans from stockpile
1st purse: £99.36
2nd purse: £10.64 + remainder from this month

The best way I've explained it is the shop one:
Shopkeeper has a float (£10 a month up to £100)
Shopkeeper buys stock and sets prices (bulk buy and record what you will charge)
Customer goes to shop and buys product from their grocery budget.
Money goes into the shopkeepers till (2nd purse)
Shopkeeper has over £100 in their till, so moves excess to cash office (3rd purse)

luckycharlie

OMG I am in such a muddle now but I'm going away for a week so when I get back will sit down (for a day or more:rotfl::rotfl:) and really read this until I understand it. I have been told I am special does that explain it :rotfl::rotfl:

see you next week relaxed tanned and ready to go :rotfl::rotfl::rotfl:

XLC2

rachbc

Annie - my undertsanding is that you use your second purse to bulk buy bargains/ reduced/ special offers - these become your 'store'. You use your £400 for your usual shopping and to 'buy' stuff from your 'store'.

So you buy 4 packs of beans on offer for £1 each form your £10 (your second purse now has £6) next week you 'buy' a pack of beans from your store for the retail price of £2 from your £400 - (you second purse now has £8) You have 3 packs of beans in your 'store' and 1 pack in your cupboard.

Hope thats right....

Annie_99

Its making sense now.. dont know whether to have 100 pound in my purse 1, rather than the whole amount of 400 as it may be too much to deal with.
So from my 100 pound, do i move 10 pound over to my 2nd purse thus leaving 90 in purse 1,

Hmm how shall i manage this please.. in a muddle in my head!