would you stock up ur storecupboard or save the money?

attentionseeker1

I would save as much of the cash in the bank as possible, low interest notwithstanding, just in case you get a high energy bill or something breaks down, you have some spare. You could even save for a nice treat or holiday.

As others have suggested though, I would set aside £10 say and look for bargains on freezer/store-cupboard items in the supermarket and start to build up your reserves gradually.

sonastin

As well as all the other great advice, I'd look at "investing" some of it in things that will help your money go further in the long run, e.g.:
-a slow cooker to make yummy meals out of cheap ingredients without using much electric
-window boxes/plant pots/seeds/compost etc so you can start to grow your own veg (what you need & can grow depends on what outside space you have available)
-a bike so you're not so dependent on public transport (I'm sure you can pick something up cheap 2nd hand)
-sewing machine so you can do repairs & alterations to old clothes and make new
etc.

basically, some of the proper old-stylers use tools which cost money initially but save more once you know how to use them. If you can afford to pick up some of those things now, next time things get really tight it will be easier to manage because you're not so dependent on having to spend to get things you need.

PipneyJane

ILoveEoin wrote: »

If i could ask all you lovely ppl some advice please:)

I have started an temp job which is on an week to week contract so no idea how long i will have some extra money for....

but would u spent some of ur wages on store cupboard items or save money for when the job finishes?!

any advice, help or group hug will be very welcome:)

love

ILE XX

Congratulations. I hope it is the spark for something bigger (and permanent).

You could apply my contractor mantra:

Monday is for me
Tuesday is for the taxman
Wednesday is for the mortgage/rent
Thursday is for the emergency fund
Friday is for paying off debts/holidays/investments (delete as appropriate)

The idea is that I treat Monday's money as if it was my salary, paying as much of my living expenses from that as possible (ideally, all, including debt paydown). The rest of the money goes into separate, specific, savings "pots" to be raided as necessary. That way, it doesn't evaporate and I don't find myself with nothing left when a big bill becomes due.

I dreamt the contractor's mantra up when I was doing the VAT for a portfolio of computer and engineering contractors back in the '90's. I can't talk about basic admin rates of pay but, from my experience, professional staff who contract through their own limited companies can easily earn the equivalent of a month's take home pay for a staff job in five or six days. The rest is the icing on the cake. Smart contractors realise this.

Penny-Pincher!!

I would do a bit of both. Buy items when heavily reduced or on good deals.

eleanor73

I would personally save but keep my eyes open for yellow label bargains for food and get them if you see some good ones.
Also think about what you like cooking and stock up on useful items for those recipes. When I am in a supermarket no matter what I am getting I nearly always pick up a couple of tins of tomatoes as I use them so much. I would only do stockcupboard if the bargains were there as I have been in the situation where my freezer and cupboards were full but I had no cash for something I needed/wanted and that's not the best situation to be in.
Another trick I use is after a few pay packets see how many days you can do after payday witout touching it. It will remind you that your pay is surplus and get you to work with what you've already got in. Good luck and congrats on the job.

littlegreenparrot

Firstly, well done on the job.
I've been lurking for a few months and I know you've had a tough time, looks like things are on the up : )

I would do both, buy an extra item or two for the store cupboard every week (offers/whoopsies etc), and try to put a little bit away.
I don't know if you have a credit card, but if you do its also worth paying a little bit extra onto that every week, even a few pence will add up but you probably won't notice its missing.

I've had periods of unemployment, and I still keep a tin in the house for change. Again, you probably won't notice it's missing while your doing it. But once the work finishes it can be comforting to know you have a stash for bus fares, bread and cheese for a weeks lunches, or whatever.
I've been in the position where I was offered work and had no money left for the petrol to get there, I try to manage things better these days!

ILoveEoin

Hiya:)

Job still going (really happy, heading into my 4th week) loving the work but they not sort out my tax yet so i am down £50 a week. So after bus fares, lunch dont have anything left gutted but it get there.

i have lidl leaflet for deals until the end of the month so plan to get there next weekend & i am been careful with money so looking forward to building on my store cupboard & savings pot

meritaten

ILE - so the taxman is doing your saving for you! as the job is temp try to get this sorted before you leave! ring the tax people yourself - may help to get it sorted sooner as you are owed quite a substantial amount!
glad you are enjoying the job! any chance on it becoming permanent?

Butterfly_Brain

I would stock up as well, prices are rising much faster than wages.
I put all of my loose change into a jar - I don't notice it much but last year I managed to save £650 ( Sadly had to go on vets bills and new washing machine and a car repair bill) but it was money I didn't have to find so it is well worth doing.

TheConways

If you can "afford" to stock up your stock-cupboard, do it. Just don't let things go off (hellllloooooo Chicken Tonight circa 2006, which we found last week).

Also, organise your stockcupboard well so you can see what is available. I have a list pinned next to mine where add/subtract numbers from as I shop/use stuff. A bit of a pain, but great to see at a glance what you have.

Tins don't go off - they keep waay past their sell-buy date - but i notice jars don't always keep that well.