Second Purse Challenge Thread #2

EstherH

Hi Bubbs,

It's what works for you that's important.

For me it is the money that I can put away as savings that is the incentive. So rather than just using my stores as and when I need them, I buy pay myself for what I use. I just have a tub and I chuck the money in but at a price it would cost me if I was buying it from the shop. Or, at a price I would be happy to pay if I don't want to pay full price. Then once I have built up an amount for me to be able to buy more for my stores if I see a bargain, I put the rest away in a tin for Christmas.

If I didn't use this system I would just fritter the money away in my purse. It's a way for me to save. It wouldn't work for some people but it does for me.

Esther xx

AlwaysHappy

I'm the same EstherH, I buy things that I will use when I see them at a good price, and then buy them back at a mid way point so its a win win, and save the difference. My oh doesn't get it, calls it playing shops, but I have saved a fair bit so far doing this so I'm not complaining.

EstherH

Hi AlwaysHappy,

I read in a Shirley Goode book (probably in the 80's), the principal of paying yourself for your savings. So if you use a voucher for 30p off pay yourself 30p. It all mounts up. So if I get an aldi voucher for £5 off a £45 spend I put the £5 in a pot too. Or if I manage to spend less on a present than I was going to etc. for instance there's ten percent off today type thing. I can't always afford to do this, but it does all build up. I save this separate from my third purse money so that I can see what I am saving from each.

I've just had a £10 off a shop though and can't afford to put the £10 away at the moment, so don't always do it, but as a well known brand likes to say: "every little helps" and in this case it really is me that is helped.

Esther xx

bubbs

EstherH wrote: »

Hi Bubbs,

It's what works for you that's important.

For me it is the money that I can put away as savings that is the incentive. So rather than just using my stores as and when I need them, I buy pay myself for what I use. I just have a tub and I chuck the money in but at a price it would cost me if I was buying it from the shop. Or, at a price I would be happy to pay if I don't want to pay full price. Then once I have built up an amount for me to be able to buy more for my stores if I see a bargain, I put the rest away in a tin for Christmas.

If I didn't use this system I would just fritter the money away in my purse. It's a way for me to save. It wouldn't work for some people but it does for me.

Esther xx

Hi
Thanks for answering me, price guarantee works for me but i could then put the money in a separate pot i gess when i need something, worth thinking about

EstherH

Hi Bubbs

That's fine then, if you're happy with the way,you do things then why complicate it. If you think that by having a go at this, it will help then try but if not don't worry about it. I have pots of money all over for this and that. It would drive others crazy. I never use credit cards, some use them for the cash back they get, but though I've thought about it as a way of getting a little more free money, I'm not sure that I wouldn't end up overspending and not be able to pay it all off. Wouldn't do for us all to be the same would it?

Esther x

AlwaysHappy

EstherH - regarding the vouchers - that's exactly what I do - great minds must think alike!!! I get a real buzz from it.

EstherH

Hi AlwaysHappy,

It's great to be able to see the savings growing. Before I started doing this I didn't seem to have any money left at the end of the month but now there is some tucked away in my pot.

I've just noticed in my signature that in 13 months I have saved just over £500 in my third purse. £237 which I spent last Christmas and I have £271 in there now for this Christmas. I'm even more impressed with it now. That's not including the money from vouchers etc that I have put away separately.

Esther x

AlwaysHappy

Wow EstherH, just goes to show doesn't it - I think it is absolutely brilliant.

EstherH

Hi is there anyone still about? I've been stocking up again and have plenty of non dairy milk, teabags, coffee and loo roll to name a few things.

I need to keep focused though as I have found that I am forgetting to pay my second purse for things that I have bought for stock like extra meat and fish. Also I am not always noticing when family uses things. I need to renew my commitment to this.

Esther x

[Deleted User]

I have a slightly different way with two purses I have a 'normal' purse with a float of about £20.00 per month in (this is my Happy Cash Stash') for any treats that I fancy or perhaps something for my grandchildren.

Then my second purse has £60.00 that is used for groceries and nothing else. As in the 1960s ,once its gone that's it until the 1st of the next month .

July I did so well I had enough to buy some groceries this morning from left over 'July 'money' and the money that's left in my purse will do me until I go on holiday on the 15th of this month.So I haven't had to draw my monthly £60.00 for August.Mind you I do have quite a large store of food in the cupboards and fridge freezer and have only shopped on two days during July.

By cutting back on actually going near the shops, I have certainly stopped 'frittering' it away.