Second Purse Challenge Thread #2

toni_

hi ladies, been having a quick read through and this sounds like a great idea I would really like to save some holiday spending money up for next year. I don't know what is a good amount to spend on shopping every week, there is only 2 adults and 1 1yr old to buy for, would £30 sound about right? I have quite a well stocked pantry and we grow loads of veg and have chooks for the odd few eggs.

Can someone make sure I understand this right please to start with I spend my normal £30 on shopping and anything I need that I already have in my pantry I put the money I would of spent on it in my second purse? when do I use my second purse to buy things, when I see some good offers? many thanks

EstherH

Hi Toni, yes that sounds right. It's basically what I did to start. As you build up money in your second purse, it is there for when you see bargains that maybe you wouldn't have been able to afford otherwise. As long as they will last and not go off before you use them, they are there for next time you need them and the price has gone back to normal. If you then pay into you second purse, the price the shop is charging now, you are making yourself a profit and not the supermarket. Hope that helps.
As for how much to spend, that is more difficult. Depends on your circumstances and what you are happy to eat etc. you may get some help on that over on the old style board. The grocery challenge is a good one to try. Let us know how you get on. Esther x

alibo100

Hi Toni, welcome! - sounds about right! You've put it in a really good and simple way. To be honest the actual method is very individual. I have found it very good and really common sense.

Regarding your budget that sounds good, as Esther said it is also really individual. I have £70 per week (3 adults/2 children) but I don't spend it all, I spend about £40 now and the rest is used on any extras during the week and paying my second purse.

I use the second purse for bargains, supermarket half price, reduced offers and yellow sticker items.

As for me I put another £16 in my second purse bringing it back up to £50.

skilly

Morning all, been some time since I was last here I have decided to get back into saving with my second purse if that's ok with you all. :-)

alibo100

Hi Skilly!

Nice to have you back, when did you drop off the wagon So what are you starting with?

Esther, I managed to get the Aldi vouchers, I normally miss them and as I shop in Aldi all the time its a bit silly of me! Well I got two vouchers so did a shop last Friday and then another weeks shop on Thursday (last day to use the voucher) and am really pleased I saved about £13 (due to the other vouchers in the paper). I was working out if I could do that every month I could save myself around £120 - £156 a year! Fab :j

Also I would have 2 discounted shops a month and 2-3 normal shops. I love that.

I am really pleased to report that I have now exceeded my target for my 3rd purse of £100 and now have £110! I have decided I am also going to use this for my Christmas spending money. Hopefully that will then mean that I don't have a really tight January, even though I don't tend to overspend at Christmas it still has a big impact.

EstherH

Yay Alibo, well done, that's bril! :j:T:T:j

I have just checked my second purse and it has dead on £100 in it and I now have plenty of stock again - though how much, I still don't know.
So I should soon be able to add to my third purse again.

I do need to stock up on toilet rolls and shower gel. I had A big bag of shower gel and now onto the last one, how did that happen?

I need to try and get my spends down though. Your question about how much I spend made me think again. I had been more careful last month and spent less than I had for a few months so that is good. I need to actually stick to what I decide is a reasonable amount and not draw more money out when that's gone.

SKILLY. Not sure when you stopped posting so dont know if you were on here when I joined. Was May and I have saved £121 towards Christmas since then. Hope to hear more from you, it's good to read others input.

Esther x

alibo100

Just to update, I put another £10 into my third purse so it was £128 but I took out £90 for presents so my third purse is back to £38. I've also been asked to host Christmas this year for about 11 people so I really need to do some super saving!
I forgot to add £20 top up to my second purse this month so that will go straight into my 3rd purse as the 2nd is full. All in all going quite well. I've been trying not to shop much this week I need to clear out the freezer a bit to get Christmas stuff in.

How is everyone else getting on, its been so quiet on here recently I hope you are not all getting distracted by all the yummy Halloween, Christmas offerings!!

EstherH

Hi Ali, I have seen on someone else's signature that when money's taken out of their third purse they have recorded it as money banked. Just an easy way of keeping track so that you can always see how well you have done. Just a suggestion anyway. I know that it will help to keep me motivated.

I have over the £100 in my second purse now, so will add it up and add to my third purse later or tomorrow and report back.

SKILLEY AND TONI, How have you got on this week?

Esther x

EstherH

Another £25 added to third purse and my second purse now back up to £100. Esther x

EstherH

Bought toilet rolls in FF's and added £17 to my third purse making that a total of £163 added so far.

Esther x