Second Purse Challenge 2012

Coxy11

Hi everyone,

I had to do a major stock take today. Although I'm fairly good at writing down when I take things from Cazco, I had to go through each item in turn and record current stock levels(!)

Not as bad as it sounds, and I'm happy(?) to report that GC purse owes SP £58.83, which coupled with this months £20 and the balance already there of £40.69 means I have broken through the magic £100 barrier for the first time :j

I will transfer the £19.52 into my 3rd purse

For those starting out on the second purse journey, this has taken me 3 months. I don't go crazy like some (no offence peeps :cool:) and buy up whole shelves of items, because I don't have the space and my DH would question my sanity......

I'm off to MrT tomorrow and have made a note of new stock items to buy.

BRING IT ON LOL

MunniMuncha

Mothership wrote: »

Hiya :wave:

I hadn't realised till now we were in MAY lol.
So I've balanced my purses.

I started off with £200 total 1st Purse budget for May.

1st purse
I spent £21 on perishables, from the balance of £44.84 leaving £23.84
Total in 1st Purse £223.84

2nd Purse
25 days at £3 per day for food we ate from the freezer = £75 + £50 for items used from stock + Aprils £10.
I owe 2nd Purse £135 There was £42.24 in 2nd Purse bringing my balance up to £177.24

3rd Purse
I'm transferring the £77.24 to my 3rd Purse bringing my 3rd Purse total up to £200.94

1st Purse £88.84
2nd Purse £100.00
3rd Purse £200.94

What this means in real terms is my 1st Purse Monthly total spend is averaging around £50 per month for milk + perishables. Considering my total Grocery budget for May is £200 after paying the 2nd and 3rd purse what I owe, I still have most of that money spread over the 3 purses.
My freezers , cupboards are bulging. And I have Dr meat coming up until October.

Considering I spent £500-£600 per month before I joined MSE. I did the 2nd + 3rd Purse as well, but wasted £300-£400 per month in items we really didn't need.
My ISA's now have £5,900 in them ( not in SM's coffers as in previous years), I put £200 per month in the ISA's.
The other £200 or so had to go towards our increased utility bills etc.

I hope this inspires you all to stick with the pursing system

OMG! The penny has finally dropped (I think) - woohoo:j:j

So you work in arrears in your SP system then Mothership? Do you transfer any monies over during the month or just do it at the beginning of a new month? I used to work in arrears when I did my grocery shopping with credit card, but since I have been using cash (since starting this challenge in February) have tried not to do that, but have been finding it very difficult - so maybe that is the answer?

Thank you for your inspiration and explaining how you do it, as it really does help me (and no doubt alot of other people who SP):T:T

Mothership

MunniMuncha wrote: »

OMG! The penny has finally dropped (I think) - woohoo:j:j

So you work in arrears in your SP system then Mothership? Do you transfer any monies over during the month or just do it at the beginning of a new month? I used to work in arrears when I did my grocery shopping with credit card, but since I have been using cash (since starting this challenge in February) have tried not to do that, but have been finding it very difficult - so maybe that is the answer?

Thank you for your inspiration and explaining how you do it, as it really does help me (and no doubt alot of other people who SP):T:T

Yes I work in arrears, I transfer it over in one lump, I still can't get my head round why after I've paid what I owe I still have most of the money LOL.

MunniMuncha

Mothership wrote: »

Yes I work in arrears, I transfer it over in one lump, I still can't get my head round why after I've paid what I owe I still have most of the money LOL.

I've still not got it 100% but have decided not to question it anymore - it works and that's all I need to know:rotfl::rotfl:

Coxy11

Just back from MrT having bought some new stock

4 x [EMAIL="S@nex"]S@nex[/EMAIL] 500ml bodywash @ £1.35, buy back £2 (HP)
4 x [EMAIL="C@rex"]C@rex[/EMAIL] handwash @ 80p, buy back £1
4 x [EMAIL="R@dox"]R@dox[/EMAIL] mens shower gel @ 90p, buy back £1.25
2 x Nap light & mild olive oil @ £1.84, buy back £2.50 (HP)
8 x [EMAIL="Enritu@ls"]Enritu@ls[/EMAIL] washing liquid @ £1, buy back £2 (they smell lush)
2 x Hul@ hoops 12s @ £2.72, buy back 20p pack (bogof)
2 x Whitby prawns @ £3.49, buy back £4 (bogof)

Total stock now £184.69
2nd Purse total £89.43
3rd Purse total £19.52

:D:D:D:D:D

kerri_dfw

Loving that I haven't been to the SM in over a week veg box arrived for this fortnight full of lovely fresh veg need to start eating through the cupboards now and really should do a stocktake as I used my lovely new bedding last night so need to start paying myself £50/month for those

jakes-mum

seem to be having a right spendy week this week everything seems to be running out at once :eek: got £8 odd left till monday :eek:

Bought 2 more packs of chocolate for the kids sweet shop today but still got £23 in 2nd purse as havent seen any deals I want.

Think DH is going to take me to Mr T on the weekend as my meat slicer is here :j :j so def going to overspend on this weeks budget unless I can keep my mantra in my head . . only buy for 2nd purse, only buy for 2nd purse

chelseabun_3

Can I join in please? I think I'm getting my head around the second purse, and I have a cupboard with previous special offers which I need to go through so I can get my second purse starting total right. I've spent £39.96 from the second purse so far this month, which wasn't BOGOFs, but when I pay it back the purse will have £51.16, which I think is ok for a learner!

I was a bit confused about where the money to pay the second purse comes from (maths was never my strong point!:o:o), but reading through here it is beginning to make sense! If I use GC money to pay the 2nd purse, then gradually my GC money gets transferred over to the 2nd, and then eventually the 3rd purse! I think! :rotfl:

I'd like to do what Mothership has done with her 3rd purse, and put it in an ISA ... but that's probably a few years off yet. We're having to sell our beloved classic VW campervan, so I'll be starting to save up for another one with the 3rd purse! Even though that's a VERY long term goal!:)

Take care all
CBx

Muppet_baby

Welcome CB!

What you've said sounds right to me I still don't fully understand it all, but it seems to be working and that's the main thing!

Rosielady

A warm welcome from as well CB, I too could not figure it out when I started my 2 nd purse in the middle of Feb, and I have £46.00 in 2nd purse, £64.50 in 3rd Purse and £410.00 in stock :j, you will find that there is a great bunch of people on this thread with lots of great ideas , support but most of all friendship.