Second Purse Challenge Thread #2

A_saver_2

Help! I just don't get it! Could someone please explain?

System

Hi all, sorry I haven't been around for a while but I'm still stockpiling and I love it when I take something out of myshop! Lidl had Nesquick half price last week so I bought 6 to keep DD going She lives on that stuff!
I keep getting offers from DR but I'm waiting until they do an offer on a sirloin joint as I fancy one for Christmas dinner
As you know I don't do a 'proper' 2nd purse but every time I use something from Q-mart I pop £1 in my sealed pot which is getting nicely full and heavy it's opening day this thursday I can't wait to see what's in there! I can then treat myself!
Keep up the good work Coxy, sorry you're lonely here I'll try to post more
Rx

Mothership

Just popped in to say hi, I've been up to my eyes in it and not been near my computer. Both daughters are moving house,and my younger sister has left her husband and she's just got a flat, she has nothing. The 3rd purse has been bankrolling emergency purchases, like cookers, beds + washers etc. As one thing gets paid back its out again the same day. I've not totaled the last few months spends , But the purse has over £700 in it. Im glad I had this now more than ever. I've still not got my new fridge freezer, the plan is to get it pretty soon and give my wee sis the old one I'm looking forward to having a fish, bread and veg drawer, and maybe one for sweets.

I've been wallpapering, painting , sewing. Babysitting. And trying to help my youngest daughter clear her old house. I don't think she has ever thrown anything away.
On top of all that I had 18 months accounts to do and an ironing you wouldn't believe , my hands are blistered.

Although I'm absolutely shattered, Im so pleased that I've been able to kit out my wee sisters house and re-cycle loads of towels and bedding. And household items.

I have missed this thread. And all of you. You are all doing so well.

leictina

Hi all

I would love to join this challenge, i am going to start small (as i don't have much storage space for a stockpile). I am starting my 2nd purse off with a £50 float and i am going to add £2 a week and just you it for personal items such as shampoo & conditioner etc.....may buy a few other things if on good offers.

I am planning to "save" my 3rd purse until next christmas to see how much i save in a year (after "paying back" my start up £50):j

Billie-jo

Hi all
can I please join you. I have for a while done something similar and have got a stock totalling £108.44 with second purse of £48.12/£50 and third purse holds £8.66
I buy most of our meat from a catering butchers and pay myself back each time we have something. The original cost came out of savings and once this is paid back I shall then be adding meat money also to the second purse.
Not expecting to get any more bargains this year as freezers, cupboards, wardrobes, under the bed, and two chests are fairly packed out - but if something does show up then I can always squeeze a bit more in DH just doesnt get it but is quite happy when I produce something he says we havent got. When it comes to stocking up I find that somethings are best not mentioned to him. :rotfl:

Have read all through the thread over time and hope its going to get busy again in the new year.

Coxy11

Wow! Hellooooo everyone :j

Welcome to all the newbies to this challenge - you sound like you've got it sussed!

I've been paying back 2nd purse every Friday so I'm due to tot up my spends tomorrow. 3rd purse money is going towards our ski wear (we are going in February - first time for the children eeeeekkkkk).

Need to stock up on some more bits and bobs for my shop, so will probably do that next week as I have a couple of free days.

Will post my totals up tomorrow, just wanted to say hi really
Coxy

mossy

I have been a bit awol and kind of lost count. Mossy's Market is trapped behind a pile of stuff, including the hoover, my baking trolley and lots of carrier bags!! :eek:

rosyq wrote: »

As you know I don't do a 'proper' 2nd purse but every time I use something from Q-mart I pop £1 in my sealed pot which is getting nicely full and heavy it's opening day this thursday I can't wait to see what's in there! I can then treat myself!

I really like this idea, although it's not hardcore 2nd pursing it does still have the heart of getting bargains and saving some money! As I just buy every day stuff rather than hordes of things this might actually work for me as I'd be more inclined to put a quid in a jar! I put aside £10 a month for bargains and to be honest most of the time that would probably be plenty as I've had at least one month where I had £17 and didn't spend any of it. Hmmm this may be the way forward for MM, now I just need to dig out all of my stock!!

p.s. Sorry you were feeling lonely Coxy!!

mossy

A_saver wrote: »

Help! I just don't get it! Could someone please explain?

I am probably not the best person to try to explain this, but so that you don't feel like we're ignoring you, here goes...

Point 1:
You have a 2nd purse which you set a budget for, say for example £50 or £100. And your aim is to get that purse (float) to that figure. I call it a float because this is money you use to buy bargains and so you always want money in there.

When your 2nd purse goes over your set figure, the extra money goes in to a 3rd purse (aka money to save not spend) which you build up and use to buy something special.

Point 2:
Okay you say, but how to I get my 2nd purse to my figure (lets say £100).

Firstly, each month you put an amount in to it, this helps to build up the kitty (float). With the money in your 2nd purse you buy bargains, buy one get one free, 3 for the price of 2, half price etc! You buy things you use, but instead of paying full price for them you wait until they're on offer at the supermarket and you buy a load and put them in a separate stock cupboard (i.e not in your normal cupboards).

When you run out of said item, instead of going to the supermarket and having to pay them full price (how rude!!) you go to your own little stock cupboard and buy it back from yourself. Most people buy it back from themselves at full price. You pay yourself for the item from your normally grocery budget but put the money in to your second purse. It's then in there ready to be used to buy more bargains and so it goes on, or if you've reached your target amount then the surplus gets moved in to the 3rd purse.

The idea basically is, you buy stuff you use when it's on offer at the supermarket, thus giving them less of your money. But when you buy it back from yourself you charge yourself the full price which fundamentally keeps the extra money in your own home rather than giving it to the supermarket. And eventually with the extra money saved and making it's way in to the 3rd purse you get to buy something nice with the money that would otherwise have gone to Mr T or one of his friends!

People normally keep a spreadsheet (I think there's one on this thread somewhere to show you what it looks like) to keep track of what stock they have, how much they paid for it and how much they will charge themselves when they buy it back.

I hope that helps although it's probably as clear as mud....:rotfl::D;)

skilly

Morning all , welcome all new newbies Just nipping in to add £5.00 to my purse there is more to add just got to sit still long enough to Count up .

skilly

Meant to say that I have cleared out my 3rd purse and treated myself to a new Panasonic breadmaker 2501 so looking forward to making my own bread well it is my birthday today ;-)