18 months

coolcats

Hello all
This is a saving diary more than debt free. The aim is to have saved £10k in 18 months, so in April 2014.
To do this I plan to cut back back, sell anything we do not want or need, get the best interest for savings. At the moment I know I can save a little, cut back on food waste, meals out/takeaways, and use up stores including food, toiletres, and cleaning. I have started to sort out things to sell and hope to find more as the weeks go buy. Also to cut back on spends over christmas, as always buy too much.

With 3 growing children, its not going to be easy, esp as we always have letters from school asking for the odd £1 for this and that. And can we have always asked. I am determined we can and wil do it. Wish me luck!!!!

coolcats

Well for Oct I have sold £27 worth of bits, so a good start. I have saved £330 so again a good start. And of a spending budget of £350 I have gone slightly over, at £1.50 but normally would of been more like £50. So all in all a good start.

I'm hoping the spending budget will come in at a lot less for November. Before we would spend £400 easy and an online shop on top of that. I'm hoping to sell £50 worth of things. I'm planning to use more cupboard things to make meals, there is loads. One meal out or takeaway rather than the normal 4 or 5.

coolcats

The first few days have gone well. I've put a few things to sell, and had some interest on them. Keeping it local so not to worry about postage. If the items being collected today thats a few pounds for the pot.

Went through the high street yesturday and was so tempted to go in the bakery, but resisted. A few days ago I would of gone in and spent a few pounds. It has helped have made cereal cakes with cereal not being eatten and chocolate brought. Don't feel we have missed out on the treats.

Last few days meals have been things from the cupboard, with bits brought to be added to make the meals. This means spending has been made less so far. Will need to go shopping tomorrow for bread and milk, hopefully will spend no more than £5, instead of the normal £15.

I'm hoping for a spend of £250 for November as I know I will have a bill of £100 this month, so need to find the extra for that. That includes kids clubs, food and all essencials.

Need to keep up the good work started.

WantToBeSE

Hi coolcats,
i am doing a similar thing to you- a savings diary instead of debt free diary, although i am unemployed at the moment, so its hard and my savings are very small in comparison to yours. but every little helps!

Do you use ebay for your selling? If you are on facebook, there are local selling sites for your area and it may cut down on postage costs, as people come to collect instead

I do love ebay though, its addictive watching how many people bid/watch on your items!

*subscribed!

coolcats

I'm using a local facebook group to sell the things. At the moment I'm able to save better, not sure how long for, so while I can I'm trying to. The last few months that opportunity has been wasted though so its hard to get back into the savings ideas.

I don't smoke, drink, go out, (no where to go rather than choice), don't run a car, (although am considering if I need one and should). So its easy to save the extra.

I moved earlier in the year and got rid of loads then, I ended up making enough to cover moving cost, these are the bits that never got sorted. And realised its worth having a go at selling them, before they get taken to the charity shop.

It's going to be hard to reach the target figure, but I guess aim high is the way forward. It's not for any reason as such. Just I have very little control of other parts of my life at the moment at this is something I do have control over. If I cook a meal or get a takeaway. Spend the money or save it.

amr547

I'd love to do a savings diary. Hopefully next year

I'd sell some stuff but then I wouldn't have anything left, lol!

Good luck

WelshWoofer

An interesting project - most people are paying things off not saving. I;m trying to do the same and would love to be able to have £5000 emergency money that's strictly not to be touched.
I'm up to approx £3000 but the extra £2000 is very hard to come by!

Good luck!

coolcats

Thanks for the support.

The reason to save now is when universal credits comes in I won't get anything. At the moment I get child tax credits, I'll lose that when it changes over. So I save as much as I can now then I use it when I lose the tax credits for a few years at least.

I know I'm luck not to have any debts and with the exception of a morgage with my ex, never had debt. I'm determined to keep that way as long as possible.

I may never reach the £10k, but at least I have tried. Figure its best to aim high and revaulate after 6 months, again after the year. If £10k is well out of reach then it will come down to £8k. Works out saving £555 a month.

coolcats

I had a good day today, met 3 people and sold a few bits, got £14 there. We were going out for sunday lunch, it was reasonable cost at £18, but one thing we have to reduce as had been every week. This is the third week of not going. Haven't missed in or had the urge we must go so pleased with that. I had planned to buy a few bits in Lidi, no more than £5, but didn't do so well there and spent £8. But still pleased, last month it would of been £15 spent. So all in all very good going today.

I have an online shop coming tuesday for the month. Spent £102, but has cost me £82 with free delivery from sainburys. £10 off and £10 in necter points. So hoping thats it for spending till Thursday when we will need bread and milk, other than a little school money needed.

coolcats

Sold another thing today, only £2 but all helps, another thing going tomorrow so hopefully thats another £4. More stuff posted on fb, just clutter we don't want or need. Gradually sorting bits out.

Had to walk through the town again, easy way to get where I need to go, and again managed to resist the urge to spend. Kids had there club tonight, we pass a shop on the way, easy to pop in, but to be on the safe side purse stayed at home. Another no spending day, with the exception of milk money for school, and got credit of 10p there.
I will need to buy bread and milk on wednesday, but hoping for no spend till then.Got veg to use so thinking soup to make with that for lunch and got the online shop for the month coming tomorrow so shouldn't need much for few days. Although I never ordered bread or milk as cheaper at Lidi, but the temptation to buy more is there. Next time I need to by the bread and milk, take the temptation away.

coolcats

The selling seems to of come to a bit of stop. Need to have sort out and get photos done of new things and see what else can go.

I have managed to keep going on the bread and milk till today, which I'm impressed with. I went to shop to buy bread and milk and spent £3 on just that, even better. I wasn't even tempted to get other things, so that is good. Now hoping the next shopping won't be needed till monday, and can keep going on the same level.

Hoping that me staying so focused can carry on. Have had a letter about a school trip for oldest, will cost £75, in July, can she go, ticked for yes, now just need to add that to the budget.