Things you would do to save money

pop_gun

The toughest part about saving is no matter how much you have saved you want to be able to save more. Thoughts about a second income and ways to cut back on essential items come creeping into your head, though try as I might it's never enough. Like many of us my biggest expenditure each month is rent. I think about how much I could save if I got cheaper digs. With this thought firmly in my mind I found the cheapest rent in london was to be found on gumtree. £35 per week in a 3 person roomshare!

I know what your thinking - disgusting. And yes I agree with you. But if I could turn a blind eye to the squalor and degredation of the circumstances I could save real money. This thought is all the more appealing for the fact I work at minimum 66hrs a week and 72hrs at most. I wanted to make this 84hrs by finding a part time job but my body won't let me.

What desperate thoughts have you had when trying to save?

somethingcorporate

I'd look at long-term ways of increasing income over decreasing my quality of life to such an extent.

New qualifications, better job etc.

jimjames

Increase income or decrease costs/living expenses.

Much easier to save money by cutting costs as every pound you save goes straight into the bank. Increase your salary by a pound and depending on your tax rate you could only end up with 60p back.

Are there other ways you can cut costs without moving? Cut out the coffee from shop each day? Make your own lunch? Cycle to work not running a car?

lisyloo

no matter how much you have saved you want to be able to save more

I'm not sure how old you are, but I personally don't find it at all hard to strike a balance. This is not a dress rehearsal and some people do die at a young age.
None of us know how long we've got.
I'm not sure whether that's a factor of my age (43) but you do get to a point where you realise that TODAY is important too and you shouldn't wish your life away.
There has to be a balance between saving prudently but also some enjoyment today as you may never get to draw that pension.
20% of us will die before retirement.

though try as I might it's never enough

There also needs to be some space in your budget for enjoying today.

But if I could turn a blind eye to the squalor and degredation of the circumstances I could save real money.

What for? Do you have a specific goal that makes it worth doing this?

What desperate thoughts have you had when trying to save?

Sacking the cleaner?
Seriously you need to get some balance. This is not a dress rehearsal.

pop_gun

somethingcorporate wrote: »

I'd look at long-term ways of increasing income over decreasing my quality of life to such an extent.

New qualifications, better job etc.

In this economy?

I can only assume that's the crack talking.

pop_gun

Unless you're a fervent saver Lisaloo, who also wants to save for a house deposit by yesterday. Then you might not appreciate where I'm coming from.

I did the whole live for now bit in my teens. In my twenties I tried the whole improve your qualifications\change career nonsense. Now at 34 years of age I just want to save. My current job gives me that opportunity. I just want to make the most of it.

It's unlikely I would move into a roomshare, but it's something that would help me no end.

Anyway what crazy thoughts have the rest of you had. I saw a post on here where one poster said she used less shampoo in order to cut back on her shopping bills. I'm looking for more of the same.

RosieBee_2

Hi,

Saving money is hard work, but i have found that it does not have to be burdensome, and neither do you have to use a lot of time doing it.

saving on electrical's for example can be done using online comparison website. While its always a good idea to shop a different shops now and then to get an understanding of what is cheaper where. With so many products this can be easier if the necessary food stuffs are compared. Like milk, bread, etc.

you can use voucher websites to get savings on many other items or restaurants and any other purchases.

Also if you are saving money into a bank account, then make sure the rate you are getting is a high one. You can compare ISAs for example using comparison sites too. Here is one such site.

I hope that helps, even just a little

RosieBee

vacheron

pop_gun wrote: »

I know what your thinking - disgusting. And yes I agree with you. But if I could turn a blind eye to the squalor and degredation of the circumstances I could save real money. This thought is all the more appealing for the fact I work at minimum 66hrs a week and 72hrs at most. I wanted to make this 84hrs by finding a part time job but my body won't let me.

I agree that if you are working long hours then where/how you live becomes far less important.

I spent 5-7 years consistently working 50-60 hour weeks both at the office and on at locations while earning overtime / site supplement etc and having my accommodation and food expenses paid for by the company. I personally loved that opportunity because you can focus 100% on working / earning with minimum expenditure and can really save while doing so.

Although at the time I didn't have a reason for saving, the thought of "Making hay while the sun shines" was very satisfying.

With regard to quality of life. In the construction industry where I was working there were a lot of of english construction workers who lived adjacent to the work site in caravans with their families.
Many office staff who were unaware of their situation initially regarded those workers with pity until I pointed out that many live like this putting in massive hours and earn approximately 50-60K in 6 months with about 4-5K of outgoing expenditure. They then move back to their actual tax efficient homes in southern europe and lie on the beach in the sun for the next 6 months!

Who has the best quality of life? Or does it average out about the same? Personallly I love the idea of the on/off working approach, however I don't think the OH would approve in my case sadly.

Ken68

Am too old now, Pop, for a second or even a main job.
The way I save is identify a change of ways, make it happen for one day two days and then in about 2 weeks it is habit.
Examples, rainwater instead of bought , eat according to nutritional info on food (minimum calories, max protein) grow own food or forage, bike/bus/walk instead of running a car, never buy books, use library, insulate house then insulate more. Get to be a low user, go onto no standing charge energy tariff.
And to help you more read all of MSE, past and present. Make it happen.