Second Purse Challenge 2012

eddi

Savvybunny2009 wrote: »

I think it's all abit confusing at the moment but I figure what we will do is If an item normally costs £4 and I get it for £2 I will charge £3. It will take longer but I figure my husband wont go for the whole shop idea unless there is incentive for him ie cheaper items.

That's exactly what I've done, because I tend to swap brands often depending on what's on offer anyway so I tend to try not to pay full price for things unless I absolutely have to ... so I've priced all my stock a bit over halfway between what I paid and the actual full cost. I don't mind as it's for my own benefit

Edwardia

I'm totally confused by this second purse system. It seems like you're charging yourselves more than the item costs and putting this in a second purse for savings. To me it seems simpler to do an accounts book and do a few basic sums.

Net income (take home pay) - total bills (you may need a stiff drink here) = disposable income. Set a food budget per week/month (whichever you prefer) and stay under budget. Shift the money saved into a savings account or use in shops.

This doesn't work if OH doesn't know the meaning of the word budget, notices spare dosh in account and goes to the cashpoint behind your back. We have a system, I save it, he spends it !

kerri_dfw

Edwardia, we have set food budgets. This is a small pot of money used exclusively for bargains, so if you see a bargain at the end of the month when you're near the end of your grocery budget you can still afford to buy it because you have the second purse for exactly that reason. You buy items back off yourself which you'd normally pay the current shop price for, and put the money back into the second purse. So next time you have more money for bargains instead of giving the SMs that money because you ran out and there isn't an offer on at the moment.

For example:
Week 1: Doris buys 2 tubs of butter on offer bogof in Mr T @ £2
Week 1: Edna buys 4 tubs of butter on offer bogof in Mr T @ £2
Week 1: Doris uses a tub of butter
Week 1: Edna uses a tub of butter and puts £1 into her second purse
Week 1 spends: Doris £2 Edna £5

Week 2: Doris uses a tub of butter
Week 2: Edna uses a tub of butter and puts £2 into her second purse. Second purse now has £2
Week 2 spends: Doris £0 Edna £2

Week 3: Doris buys a tub of butter but there's no offers so it's 1 tub @ £2
Week 3: Edna uses a tub of butter and puts £2 into her second purse. Second purse now has £4
Week 3 spends: Doris £2 Edna £2

Week 4: Doris buys a tub of butter, no offers and a price rise so 1 tub @ £2.50
Week 4: Edna uses a tub of butter and puts £2 into her second purse. Second purse now has £8.

Conclusion:
Doris paid the SMs £6.50 for 4 tubs of butter
Edna paid the SMs £4 for 4 tubs of butter but now has another £8 in the 2nd purse which can be used towards other bargains. As Doris did not have a second purse she couldn't cash in on the offers as she was having to dip into her grocery budget each week.

MunniMuncha

Mothership would love to know how to make my own pasta - the kids love it, especially when I buy it 'fresh' so to be able to make my own would be great! So please, please, please post the recipes here - thank you ! :T:T:T

MunniMuncha

kerri_dfw wrote: »

Edwardia, we have set food budgets. This is a small pot of money used exclusively for bargains, so if you see a bargain at the end of the month when you're near the end of your grocery budget you can still afford to buy it because you have the second purse for exactly that reason. You buy items back off yourself which you'd normally pay the current shop price for, and put the money back into the second purse. So next time you have more money for bargains instead of giving the SMs that money because you ran out and there isn't an offer on at the moment.

For example:
Week 1: Doris buys 2 tubs of butter on offer bogof in Mr T @ £2
Week 1: Edna buys 4 tubs of butter on offer bogof in Mr T @ £2
Week 1: Doris uses a tub of butter
Week 1: Edna uses a tub of butter and puts £1 into her second purse
Week 1 spends: Doris £2 Edna £5

Week 2: Doris uses a tub of butter
Week 2: Edna uses a tub of butter and puts £2 into her second purse. Second purse now has £2
Week 2 spends: Doris £0 Edna £2

Week 3: Doris buys a tub of butter but there's no offers so it's 1 tub @ £2
Week 3: Edna uses a tub of butter and puts £2 into her second purse. Second purse now has £4
Week 3 spends: Doris £2 Edna £2

Week 4: Doris buys a tub of butter, no offers and a price rise so 1 tub @ £2.50
Week 4: Edna uses a tub of butter and puts £2 into her second purse. Second purse now has £8.

Conclusion:
Doris paid the SMs £6.50 for 4 tubs of butter
Edna paid the SMs £4 for 4 tubs of butter but now has another £8 in the 2nd purse which can be used towards other bargains. As Doris did not have a second purse she couldn't cash in on the offers as she was having to dip into her grocery budget each week.

Thanks Kerri - keep coming with the analogies coz I think it is slowly starting to sink in :rotfl::rotfl::rotfl:

Mothership

No problem I will go and write out the recipe and post it later:) xx

kerri_dfw

MunniMuncha wrote: »

Thanks Kerri - keep coming with the analogies coz I think it is slowly starting to sink in :rotfl::rotfl::rotfl:

Well it's just a way of setting aside an amount of money so that you can buy stuff when it's cheap so you pocket the saving not the SMs When you get into it you start to see the difference honest

mooomin

I think I'm going to try this too. I do like to stock up and have a wee stockpile cupboard already

For example:

Cat #2 has "digestive issues" (and that euphamism is necessary :eek:) and the only thing we've found so far that sorted him out is Purina food at £5.49 for 800g which is 69p per 100g.

I bought 6x1.5kg bags from t'internet for £34.11 which is 9kg in total at 40p per 100g.

So, to buy a 1.5kg bag from the supermarket would be £10.35 (if my maths is right...!!) and therefore when I next open one of the bags I should pay £10.35 (or an amount I set) into Purse 2.

When I'm running out of catfood I will then use Purse 2 to stock up on it.

Is that right?!

kerri_dfw

flying_fresian wrote: »

I think I'm going to try this too. I do like to stock up and have a wee stockpile cupboard already

For example:

Cat #2 has "digestive issues" (and that euphamism is necessary :eek:) and the only thing we've found so far that sorted him out is Purina food at £5.49 for 800g which is 69p per 100g.

I bought 6x1.5kg bags from t'internet for £34.11 which is 9kg in total at 40p per 100g.

So, to buy a 1.5kg bag from the supermarket would be £10.35 (if my maths is right...!!) and therefore when I next open one of the bags I should pay £10.35 (or an amount I set) into Purse 2.

When I'm running out of catfood I will then use Purse 2 to stock up on it.

Is that right?!

Absolutely and welcome aboard I shall add you to the first page now.
Oh my look at the time, and I haven't updated the spreadsheet with the monday or tuesday SM price changes. Sorry everyone I've been doing my tax return

polkadot

I just wanted to check...Im looking at a few purchases on Shorters and I *think* Ive got the closest to the best I could find...
PG Tips 80 Pyramid Tea Bags 250g - Pack of 6=£9.53

Daz Mandarin & Lime Splash 90 Washes 6.12kg=£12.07

We normally get Daz when it comes on at Lido's but there hasn't been any in a while and I think we only have a few washes left.
PG Tips as its all DH will drink, he's downshifted on everything except his tea and coffee, and given how hard he works its the least I can do for him:)