Second Purse Challenge 2012

HelenPie

tracey12 wrote: »

I am also doing the grocery challenge and used to find it hard to find a balance between stocking up with second purse and then going over grocery budget.

What I do now is buy any bargains with second purse and don't include that figure in my grocery budget until I actually use the product. For example my girls love R*binsons blackcurrant and it is half price at the moment at £1.82 for 1.75L so bought 5 bottles so if this was included in my grocery budget would have been £9.10. So now if I use 2 bottles this month I would only include £3.64 in this months grocery budget and the rest would be included in next months grocery budget as and when it is used.

When I add the cost to the grocery budget I only add what I paid for it and not the full cost. But when paying back my second purse I pay back the full cost so my purse has maximum profit.

This way you can still bulk buy with your second purse but are not penalising yourself by putting your grocery monthly budget over.

I hope this makes sense.

Tracey

What I do for the grocery challenge is include the £10 per week that I transfer to second purse as money spent on groceries. Then anything that is bought from second purse, the money just counts as a bank transfer. Clearly you need the extra money in your grocery budget to be able to transfer, but you haven't actually "spent" the money, just moved it. I hope that makes sense! Here's an example for 1 week:

Grocery shopping: £35.72
Transfer to second purse: £10 (i.e. deposited for the purpose of buying bargains)
Second purse spends: £8.50 i.e. bulk purchases for "stock"
Purchases from second purse shop: £19.75

My grocery spend would be just the first two: £35.72 + £10 = £45.72

I chose to count the £10 rather than the £8.50 of spends to smooth things out (for times when there are loads of bargains and times when there are none). Also because that is what I physically take from the grocery account. The £19.75 was just a transfer so I don't count that I have spent it (in fact, I have saved it )

I hope that helps. x

jakes-mum

fozziebeartoo wrote: »

Thanks jakes-mum! :T

So if you bought something worth £3 for £2, you would pay 2nd Purse the £2 and put the £1 profit in 3rd Purse.

I can see that might work well for me!

Yep thats exactly what im doing Its quite nice to see the £25 ive 'saved' in my 3rd purse even though my 2nd purse is empty and actually owes the grocery budget £51 makes me feel like im getting somewhere . . . like I said im impatient :rotfl:

rachbc

HelenPie wrote: »

What I do for the grocery challenge is include the £10 per week that I transfer to second purse as money spent on groceries. Then anything that is bought from second purse, the money just counts as a bank transfer. Clearly you need the extra money in your grocery budget to be able to transfer, but you haven't actually "spent" the money, just moved it. I hope that makes sense! Here's an example for 1 week:

Grocery shopping: £35.72
Transfer to second purse: £10 (i.e. deposited for the purpose of buying bargains)
Second purse spends: £8.50 i.e. bulk purchases for "stock"
Purchases from second purse shop: £19.75

My grocery spend would be just the first two: £35.72 + £10 = £45.72

I chose to count the £10 rather than the £8.50 of spends to smooth things out (for times when there are loads of bargains and times when there are none). Also because that is what I physically take from the grocery account. The £19.75 was just a transfer so I don't count that I have spent it (in fact, I have saved it )

I hope that helps. x

Just a transfer from where to where? I could be dim but where does £19.75 come from and go to? I would count it as spending from the Groccery Budget - but I'm spending it it in my shop not in Aldi

In my way of doing things

£10 to SP to purchase stock - I buy £20 worth of stuff BOGOF
£60 Grocceries Budget
£50 of groceries budget goes to Aldi
£10 gets spent buying stock from SP shop

At the end of the week I have spent my groccery budget BUT I also have £10 back in the SP PLUS £10 worth of stock to buy at another time. I 'reinvest' that £10 into more BOGOF stock for the shop - I now have £30 worth of stock in my shop.

Week 2
£60 Groccery Budget
I have so much stock in my shop I only spend £40 of my GB in aldi and the other £20 from SP shop.

At this point I can either reinvest my £20 buying more stock or put £10 into the 3rd purse and buy £10 of stock or all £20 in the 3rd purse.

Ok that is a gross simplification but that how I work it

HelenPie

rachbc wrote: »

Just a transfer from where to where? I could be dim but where does £19.75 come from and go to? I would count it as spending from the Groccery Budget - but I'm spending it it in my shop not in Aldi

In my way of doing things

£10 to SP to purchase stock - I buy £20 worth of stuff BOGOF
£60 Grocceries Budget
£50 of groceries budget goes to Aldi
£10 gets spent buying stock from SP shop

At the end of the week I have spent my groccery budget BUT I also have £10 back in the SP PLUS £10 worth of stock to buy at another time. I 'reinvest' that £10 into more BOGOF stock for the shop - I now have £30 worth of stock in my shop.

Week 2
£60 Groccery Budget
I have so much stock in my shop I only spend £40 of my GB in aldi and the other £20 from SP shop.

At this point I can either reinvest my £20 buying more stock or put £10 into the 3rd purse and buy £10 of stock or all £20 in the 3rd purse.

Ok that is a gross simplification but that how I work it

I think it goes back to the fact there is no right or wrong way of doing it. That's just what works for me. Yes, for my personal accounting, I need to have the extra in my account to transfer to second purse, but I don't count that as part of my grocery budget because it hasn't gone (nor will ever go!) to the supermarkets And if things get financially difficult, it doesn't really matter if I can't transfer to second purse - it's just a form of savings, iyswim.

rachbc

HelenPie wrote: »

I think it goes back to the fact there is no right or wrong way of doing it. That's just what works for me. Yes, for my personal accounting, I need to have the extra in my account to transfer to second purse, but I don't count that as part of my grocery budget because it hasn't gone (nor will ever go!) to the supermarkets And if things get financially difficult, it doesn't really matter if I can't transfer to second purse - it's just a form of savings, iyswim.

Yeah - its definately reassuring to know that there is a little stash of cash as well as a stash of food. I do see your reasoning and def agree is what ever works for you

MunniMuncha

Thank you everyone for your replies,:T they have gone some way of me trying to get to grips with the ins and outs of 2nd pursing - maybe I am just over analysing it and getting myself confused, instead of just going with the flow! :rotfl:

So please can I ask one more question::o do you only use your 2nd purse for things like BOGOFs and half price items, or do you use it for reduced items too - ie, bacon reduced from, say, £3 to 50p. Would you buy the bacon out of your 2nd purse and then buy it back at a higher price (if not using original price) from your GB? Or do you just spend 50p from your GB?

Thank you once again for all your patience with me in trying to understand 2nd pursing. Can't wait til the day when I can be like Mothership and it just comes naturally - no thinking at all involved:D

kerri_dfw

Does anyone else absolutely love doing a stocktake each month? I've realised that it's my favourite bit I work out what I used last month then take that off my GB for the month, or this is my new plan. I need to learn to budget better as I currently don't have a GB that I stick to.

MunniMuncha, I only have bulk-buy items in my shop. The non-organic items are all bought when on offer, whereas the organic items are bulk bought so they work out the same price as normal non-organic items.

SP-wise, I love that I have loads of food I can have pasta, cous cous, crackers (no cheese though boo), bake a cake, make some flapjacks... ooh must get butter out so I can make flapjacks. No purchases for me today, but I need to find a l1dl tomorrow so I can get some more loo roll, actually I'll get my HM to buy it next seeing how her fiance uses it all!

If anyone sees any offers on cloudy lemonade, please let me know. I can't drink the non-cloudy stuff anymore.

Coxy11

Just to add my twopenn'th to the debate on how this 2nd purse works....I buy BOGOFs, half-price, rtc items for my shop.

I pay back what I'd be prepared to pay eg. I very rarely buy branded goods but I got some Ne$tle cereal the other day, so will buy it back at roughly the MrT price I usually pay for cereal. It was a BOGOF deal so will still net a profit for Cazco.

I pay my 2nd purse every few days for what I've had, and this money comes out of my cash GC, but I still hold the money

Went to C00p today and bought Hein$ ketchup x 2 (570g top down) @ £1.50 each, and 2 packs of 4 MArz bars at £1 a pack. The ketchup I will pay back 2nd purse at cost, but the choc will be paid back at 50p per bar.

Sorry for waffling on and hope that makes sense to someone out there in 2nd purse-land

rachbc

MunniMuncha wrote: »

So please can I ask one more question::o do you only use your 2nd purse for things like BOGOFs and half price items, or do you use it for reduced items too - ie, bacon reduced from, say, £3 to 50p. Would you buy the bacon out of your 2nd purse and then buy it back at a higher price (if not using original price) from your GB? Or do you just spend 50p from your GB?

IF its something I buy regularly then I pay for it from 2nd purse - today I bought 4 blocks of grueye for 55p each and will buy them back at £1.50 (less than rrp but still good profit). I also got reduced tapas meatballs and a bulb of fennel which won't come out second purse but are just nice extras


HTH

kerri_dfw

Does anyone remember what the bicarb mixture for cleaning the oven door was yesterday on superscrimpers?