Diary of a "Frugal Saver"

Frugal_Saver

Hello, I!!!8217;m back again. Fell back into old habits again but feeling determined to get on top of things again.

Debt has increased slightly, now at approximately £6k. However I still have savings and my bills have reduced slightly as LO is now entitled to some free childcare.

Biggest confession for me to make is that I!!!8217;m using my credit card for everyday spending and only making minimum payment with the occasion extra payment to make a small dent.

This morning I reviewed all my bills and realised I need to stop focusing on trying to save money (which often gets spent anyway) and set my self a budget for spending money during the month with money I have rather than the credit card so I can start reducing it.

I have 2 credit cards on 0% until Feb next year. One is at £2k, I only pay £50 a month but don!!!8217;t use this CC at all. The other one has £2,900 at 0% but the balance is £4,370.

The good news is with just over a week until payday I still have money in my account and don!!!8217;t anticipate spending much of it. I!!!8217;m hoping I!!!8217;ll be in a position to pay an extra £150 off the credit card.

I!!!8217;m also expecting money back from LOs old nursery, we moved her as we weren!!!8217;t happy for a number of reasons and I!!!8217;m due £230 back from them but they can!!!8217;t tell me when that will be. This will be my focus this week.

As I!!!8217;m typing this I!!!8217;m considering my options with the credit card which I!!!8217;m paying interest. I have savings but I can!!!8217;t decide whether to use this to pay off the interest accruing debt on my credit card. My concern with doing this would be that I would be back to having little savings and unable to cope should an emergency arise. I would also fell like I was getting further away from my dream of owning my own place as building up a deposit for a house is really motivating.

I think for now I will wait until the end of the year and consider my options before applying for a new 0% to transfer the balance to. I don!!!8217;t anticipate any problems getting another 0% card as I!!!8217;ve never missed a payment and I!!!8217;m not maxed out on either card.

For now I will focus on sticking to a budget and not using the credit card.

Frugal_Saver

Very close to spending money frivolously today. There are a few things I want to buy for the home which aren!!!8217;t necessities but would be useful and usually I would just buy them without a thought. I was close to doing this today but stopped myself when I remembered I!!!8217;ve already spent more than my new weekly budget this week.

So instead I paid more money off my credit card to stop me spending it on something else. I also changed the direct debit payment for my supermarket delivery from my credit card to my debit card. This is coming towards the end of the 6 month plan I signed up to but I think I will keep it as it has helped me keep food bills down and I!!!8217;ve been more organised with meal planning.

Frugal_Saver

Struggling to sleep well for some reason tonight/this morning. Think my brain struggles to shut down some nights and keeps me awake. Have nothing worrying me in fact it's probably the opposite and I'm trying to work out what I should be worrying about.

So debt is a bit more than it was this time last year. Savings are also slightly less but I feel more in control. I work in finance and my work are funding my studies for a professional qualification. Dealing with figures all day is making me look at my finances in a different light.

Pay day is less than a week away and I still have £300 in my account. This is unprecedented and particularly impressive considering we had a week away this month (all be it visiting family, however we ate lunch and dinner out most days). I still have a food shop to do this week (budget £60 which I stick to religiously) and a work night out (budget £50 inc food, not going to worry too much about sticking to this budget. I owe a lot to this colleague and I rarely go out. Also might not spend anywhere near this much). Credit card direct debit goes out at end of week for £50. Weekly budget is £80 so after food shopping I will have £20 to spend on topping up shopping etc. This may seem excessive but I've always struggled when I've set a smaller budget. After all this I'll be happy if I'm able to make £100 extra payment on credit card before starting a new month.

Frugal_Saver

Extra payment on CC cleared the account today but I realised my balance is still £100 more than it was on my last statement as the CC has been used instead of debit card until I had my latest light bulb moment midway through this month. As I still have plenty of money in my bank account I’ve made a third payment (maybe not even the last) this month which would take me just under the same balance as last month when my statement is due. I’ve got expenses of £77 on my CC this month to claim from work but I can’t do this until I get my statement. It’s only the second time I’ve claimed expenses but when I did it last time it was paid within a week or so. That payment will be on top of my budgeted payment next month so if I can stick to my budget I will see the balance come down more next month.

Found out yesterday that payday is Friday not Monday. We don’t have the bank holiday in Scotland next Monday but our company is based in England so we will get paid early. Doesn’t make too much difference as I still have the money for my weekly budget but always good to see money in my account!

Going to try for a third NSD of the week today. I have everything in for dinner tonight but may need to get bits for tomorrow’s dinner. Will probably order online shopping but won’t count that as a spend until the day it arrives.

Frugal_Saver

Didn't manage the NSD as I had to get garlic and onion but I can cope with 75p even though it was more expensive than if I'd bought it at the supermarket.

Remembered I should have had free cinema tickets last year when I upgraded my bank account (at no extra cost) so I thought I'd see if I could do something to make sure I actually receive the next lot on my anniversary date soon. Called up the bank and they explained I'm not due the next batch until end of September but they can resend my original ones and within seconds I had 6 free cinema tickets to use by 30th September. As someone who doesn't go to the cinema very often (average about once a year and only used to go when I could get free tickets) this is going to be challenging. Guess that could be the next few weekends sorted.

Managed to spend some time studying tonight but wish I hadn't bothered as I think I was too tired, I failed a mock test which I was confident I had passed. LO might be going to grandparents tomorrow night so that would be a better time to study. Have my first exam booked for middle of September and starting to think I might have booked it too soon. Very tempted to see if LO can spend a whole weekend day at grandparents in the next few weeks so I can focus on studying but then I feel guilty that I'm not spend time with her as I work full time and I miss her lots.

Frugal_Saver

Yet another day spending pennies. This time a grand total of £1.00 on potatoes. Doing well besides this. Food shopping is ordered for Saturday morning, usually I make lots of last minute changes the night before but won’t be able to do that tomorrow as I’ll be out so need to double check everything tonight, I alway end up forgetting something.

Not much else to post today, just need to stay motivated so I don’t fall into my old ways

Frugal_Saver

£10 over budget for my night out last night. Had a good time though and not feeling bad about it. Still £10 under weekly budget so if that's still the case tomorrow I'll take it from that budget.

Shopping arriving this morning, hoping it will last until next Sunday. Lots of housework to do this weekend which should distract me from spending money. When that's done I can do studying (providing LO can keep herself entertained for a while)

Need to look at finances to work out how much cash was leftover before I was paid and make another payment on CC. Hoping to finalise budget this week, LOs new nursery haven't been able to confirm monthly fees as old nursery haven't informed the council she's left so they can't apply for the funding at new nursery yet.

Frugal_Saver

That's the end of my first budgeted week and I've got £8.46 left. For now I will keep the money in my bank account and see how I get on over the next few weeks. Have to buy a kids birthday present soon so might put any budget left in a pot for things like this.

My plan for the shopping to last until next Sunday isn't going to work. We're low on a lot of things I hadn't realised and although I could get some things from shops nearby it's more cost effective and convenient to just get the shopping online and delivered to my front door.

This week I hope to stick to my budget and not be distracted by something that's not a necessity. Items I had wanted to get for the house will be requested as xmas gifts.

Frugal_Saver

NSD today. Not much else to report. Should be getting my CC statement tomorrow, can then work out how much debt I've cleared in a month.

Not sure if tomorrow will be another NSD. I really need to buy some stamps to post a card.

Shopping is being delivered on Wednesday when I'm working from home so need to get that organised tomorrow as this time I really need to ensure it lasts at least a week or my budget will be blown too soon. May look to delay it until Thursday evening if I can rearrange meal planner.

Frugal_Saver

NSD again. No CC statement but I'm becoming far too obsessed with checking my statements multiple times a day to see if payments have cleared.

Food shopping sorted for delivery tomorrow although still contemplating delaying it for one day, don't think there's anything I need in the shopping for tomorrow.