PMS Challenge - May 2007

Shortie

Lovely, thanks Queenie! I'll suss out how many jars I've got left. Woo Hoo!

scuzz

Really need my PIN money to be good following all recent holidays etc:D :rolleyes:

Good start with a cheque from YouGov for £50, which I banked yesterday.

On going pot (in cash) over £430, all cheques go straight to the bank. As yet still haven't got round to opening a dedicated PIN account, slap on the wrists for me!!!!

Queenie

No slaps scuzz - we don't berate ourselves or each other, we focus on our successes

Well done on *your* successes :T :T £430+ is just great :T

dm1465

Hello all! I have been watching this post and feeling inspired so I thought I would dip my toe in the water although not join in properly - have joined grocery challange this month and that's enough of a challange for one month. Anyway, I got myself a little jar, and when I went shopping they had my tea bags which I use on offer in Asda for £1.00 a box instead of £1.58 so I bought two saving £1.16 - which I duly put in my jar. Then I thought, I wouldn't have bought two boxes if they had been full price, so did I save £1.16 or did I spend £1.00 if you see what I mean.
I'd be really grateful if anyone could enlighten me, I'd like to join this challange next month, but need to get it straight in my head first!

dm1465

Sorry, just realised I spelt challenge wrongly all the way through that post!

Shortie

Hi dm1465

That was my first question too as I didn the same with DH's coffee - I changed his make as the one I bought was on a cheaper offer (and then bought 4 when he only uses max 1 a month )

What I was told, and it makes good sense, is that I divided the savings I made on all the jars across the amount of jars I bought. i.e. I normally buy £5 200g jars. I bought a different brand of 2 jars for £6.50 both 200g jars (I bought 2 of the offer, hence 4 jars of coffee). Per 2 jars I saved £3.50 as I spent £6.50 rather than £10. The £3.50 saving over 2 jars equates to £1.75 saving per jar and now each time a new jar gets opened, I'll put £1.75 in the jar.

I guess it can work just as well putting the whole £3.50 x 2 into the jar in one go, but I recon I'll feel more inspired to have a slow 'trickle' of PMS savings in the jar rather than a lump sum upfront and then a quiet spell.

Hope that makes sense... I can lose people when I waffle :rotfl:

Welcome to the thread.... it certainly makes you look at your shopping in a different way, and it's fab coupled with the Grocery Challenge! :T

Shortie

Sorry I never quite answered your question did I....

You *saved* 58p per pack as this is an item you would have bought anyway in your shop, and you saved it off the price you were expecting to spend. It's then just a case of deciding how you'd rather put the savings away.... in a lump sum as £1.16, or as 58p each time you open a box

dm1465

Thank you Shortie I think I get it. I am going to leave the £1.16 in the jar since it is not much money - but if they still have the offer on next time I go to Asda I shall divide it up. Also, would you include any extras, for example, sometimes I might make a cake for someone who asks for it, and they maybe give me £10.00 instead of the £8.90 it cost me to make it for example? Normally I just stick the tenner in my purse and forget about it, but the £1.10 would be a bit extra in the PMS. Cheers!

Shortie

Hmmm.. not sure about the extra money from the cake making (my first month of this challenge) but I'd be tempted to put it in the PMS jar (if you want to that is) as it's still money that you couldn't have budgeted for getting (i.e. it was a nice 'extra')

Queenie

dm1465 wrote: »

...... would you include any extras, for example, sometimes I might make a cake for someone who asks for it, and they maybe give me £10.00 instead of the £8.90 it cost me to make it for example? Normally I just stick the tenner in my purse and forget about it, but the £1.10 would be a bit extra in the PMS

Stick it in your pin money You've made a profit of £1.10 :T :T (well done btw )

I can add another 25p to my pot ... the coffee machine already had a credit in it so I ended up with a free coffee :laugh: It wouldn't be worth taking a flask, so I budget that 25p for my mid morning cup.