Second Purse Challenge 2012

SueP19

MunniMuncha wrote: »

Hello everyone :hello:and would love to join this challenge, if I may? I think I have got the jist of it, but my problem is this. I have a cc for my groceries and petrol which then gets paid every month. It is usually way over budget :eek:but now am finally going to do something about it and I think this will help me do it. As my cc is always in arrears I don't have the cash available now as I have last month's bill to pay for - IYSWIM? So is it possible to still do this challenge and then slowly revert from using cc to using cash (which I think will take forever to transport across) or for one month only do I pay off the cc and also start this challenge in cash? Am confused and not sure what to do about this, so wondering if you wonderful people could help me.

I have got to page 7 so far of this thread and intend to read ALL of the pages, as on each page I am learning something new, but thought I would post my questions now as it will be another week before I get to the end :rotfl:

One other thing, is that I started my month last week (on 23rd) and have nearly met my budget already (did one big shop and now, hopefully, 3 little ones for the next 3 weeks - only spent £10.20 for this week) so will I have to wait until 23rd Feb to start this challenge?

Many thanks for any help you are able to give:T

Hi and welcome, I think you can do it, it's worth a try

Have you joined the grocery challenge
https://forums.moneysavingexpert.com/discussion/comment/50582045#Comment_50582045

It may well be that by controlling the amount you spend next month you can have a reduced card bill and free up cash for those store cupboard purchases, then each month only put on the card the amount that you aren't buying for your store, as the weeks roll by the amount you spend in the supers really does go down and quickly. I spent a grand total of £41 this week, I only started at the begging of Jan and I was spending an average of £95 a week :eek:

As Mrs Addicted to spending says, start small just a fiver, if you buy half price goods with your £5 cash then buy back at full price it will have doubled to £10, pick items that you know you will use frequently, like Baked Beans :rotfl::rotfl::rotfl: By the 23rd Feb you could have £10 easily to spend on your store products

Go on give it a go :j:j

Annie_99

Ok I need help..
You know I was on board with this and all excited.. I feel all in a muddle and like ive failed already..
I drew out my 100 for my shop, and 10 for my second purse (but didnt put it in at the time)
Went to Slimming world, paid 4.95 and 1.85 for the monthly mag.. Then a fiver on the way home for our chippy tea. Needed bread and milk and butty stuff and crisps.. 6.00..
Went to veg shop to stock up on fruit and veg, 8.00. I went to H& Bar with the full intention of buying stock for shop.. Bought wash powder, toilet roll, soap, etc and spent about 15 quid.. Couldnt buy stock as what I bought was what I needed to use now and i got in a muddle as was overwhelmed at buying anyway..

When i got home i got a call from my friend reminding me about clothes from the next sale for 25 pounds, her bill has now come so could i pay her..
So already ive spent 65pounds, still havent done a supermarket shop, as in filled the fridge or cupboards, and cooked for the week..
This leaves me with 45 for the above.. nothing in the second purse. Feel rubbish and have burst into tears typing this..
I truly need some sound advice how I can do this shopping lark, ive been married for 24 years and have never ever been able to shop.... Im desperate.. Gonna make a cup of tea and wait for you all!!!!!:(

kerri_dfw

Hi munnimuncher, as the other lovelies have said this isn't a monthly challenge it's a continuous one. When you can afford to buy an offer you use in bulk then start then, even if it's just buying 1 pack of beans for £1 and putting the full price back into your 2nd purse (effectively buying twice) then you've made. Start and will have a bit of money to buy your next offer with. We all have different cash flows, so some will have money in their 3rd purse before others, some have been doing it longer so have a larger stockpile to buy from.
I'm off to get olive oil today :-) I have £28 to spend so that's 3 of each type of 750ml (extra virgin, virgin, light & mild) for me :-) I know it's only one item, but it's what I need this month and buying 1 from myself will put £4. 75 back in for other offers :-)

kerri_dfw

Massive hugs Annie *hugs*
You haven't failed.
Are their any offers at the moment that you use and you could buy 1 of? Then buy it back from yourself at your own shop price when you need it?remember the 2nd purse can give you credit when you buy back o that you pay it back next month.
Remember they're not called challenges because they're easy, but because we have to change our way of thinking/shopping. Plus if you can't put anything in this month, you can put it in next month instead. There is no race here *massive hugs*

MunniMuncha

Mrs_Addicted_to_Spending wrote: »

Hi welcome to the challenge .

I think you will be able to do this without switching from credit card to cash if you want to by using a spreadsheet to keep track of things but Kerri will be able to advise you on that, as I'm not sure of the mechanics of doing it that way.

You could start it in a very small way if you don't have much budget left for this month by perhaps just putting £5.00 aside in case you spot any really good offers??

Thanks Mrs ATD, I am really hoping that I can make the change over a period of time - my problem is that I want everything to happen now:mad: which isn't a good trait to have. I did think of taking my budget out of my savings and start next month from scratch, but feel that I will feel more satisfied slowly moving from cc to cash. I have some things already that I have bought before I knew this 2nd purse even existed, so am going to spend today starting a spreadsheet with those items. Many thanks for your help and advice :T

MunniMuncha

dreamerbea wrote: »

Hi MunniMuncha and welcome - I think we will all help each other along the way. this is the first month I have ever done a budget so alas I can offer no advice on how to transition from the cc to cash - I am sure someone can help though.

Even if you can't start till later next month you can identify items you already have and what items you use a lot which can get some turnover into your little shop so you know what to start looking for and of course keeping an eye out for bargains as some offers may not end until you start IYKWIM.

Oh I nearly forgot - you could also identify where you can keep your purchases - mine are spread around the house and garage.

Thanks DB, it must have been from reading your idea last night (was late when I finally went to bed and my head was buzzing trying to get around the 2nd purse) so woke up this morning and thought of your idea, but didn't realise until now that it was your idea and not mine :rotfl::rotfl::rotfl: Many thanks for your help and advice - I now am going to start my spreadsheets:T

MunniMuncha

SueP19 wrote: »

Hi and welcome, I think you can do it, it's worth a try

Have you joined the grocery challenge
https://forums.moneysavingexpert.com/discussion/comment/50582045#Comment_50582045

It may well be that by controlling the amount you spend next month you can have a reduced card bill and free up cash for those store cupboard purchases, then each month only put on the card the amount that you aren't buying for your store, as the weeks roll by the amount you spend in the supers really does go down and quickly. I spent a grand total of £41 this week, I only started at the begging of Jan and I was spending an average of £95 a week :eek:

As Mrs Addicted to spending says, start small just a fiver, if you buy half price goods with your £5 cash then buy back at full price it will have doubled to £10, pick items that you know you will use frequently, like Baked Beans :rotfl::rotfl::rotfl: By the 23rd Feb you could have £10 easily to spend on your store products

Go on give it a go :j:j

Hi SueP :hello: What a brilliant idea - as of next month (23 Feb) I am going to do exactly that. I am also going to join the grocery challenge and kick this shopping marlarky once and for all. Between now and this month, I am going to meal plan and only try and use what I have already and once I have my shop stocked, then I will only use cash to buy from that! Sorry if I am repeating what you are saying, just trying to get it straight in my head

Thanks for your help and advice :T

mumof3plusoh

Please can I join. I have read this, re-read it and read again. Think I have my head round it.:rotfl:

I promise to try my best. Not brilliant with spreadsheets though. Any advice on this would be appreciated.;)

Got to go shopping later so will try and find some bargains.

Thanks in advance.

Mof3

MunniMuncha

kerri_dfw wrote: »

Hi munnimuncher, as the other lovelies have said this isn't a monthly challenge it's a continuous one. When you can afford to buy an offer you use in bulk then start then, even if it's just buying 1 pack of beans for £1 and putting the full price back into your 2nd purse (effectively buying twice) then you've made. Start and will have a bit of money to buy your next offer with. We all have different cash flows, so some will have money in their 3rd purse before others, some have been doing it longer so have a larger stockpile to buy from.
I'm off to get olive oil today :-) I have £28 to spend so that's 3 of each type of 750ml (extra virgin, virgin, light & mild) for me :-) I know it's only one item, but it's what I need this month and buying 1 from myself will put £4. 75 back in for other offers :-)

Thanks Kerri - I know what you are saying is true, this isn't a race but a whole totally new way of thinking about things and looking at shopping in a completely different way, but I want to be where Mothership is now - am sooooo excited, the thought of waiting for the years to pass to get to her level of expertise is killing me already:rotfl::rotfl::rotfl:

At least I have found the 2nd purse so as the chinese proverb says: A thousand mile walk starts with the first step (or something like that anyway:rotfl::rotfl:)

Thanks for your help and advice and thank you to all you wonderful people on this wonderful site:A

fozziebeartoo

I am wondering if declaring publicly here how my Second Purse Challenge is going, will help me stay on the straight and narrow.

Here goes for the 1st week:-

Float £10 into SP
Cheerios Paid £1.37 £2.75 to SP
Handwash Paid 50p £2.00 to SP
Bold Paid £4.00 £6.25 to SP
Lenor Paid 95p £3.00 to SP
Magnums Paid £1.49 £3.00 to SP
Diet Pepsi Paid £4.00 £4.80 to SP

So Second Purse now contains £31.80 :T I think that is £9.49 profit to Sallys Stores in it's 1st week of opening

Thanks again Kerri and Mothership for their inspiration :beer: