Catcherupper's spending and savings diary

Catcherupper14

No spend day yesterday.


Today I will have to get a couple of perishables, and perhaps a book on CD from the library if I go that way.


I have finally decided that I will stop collecting loose change in various pots around the house, and will gradually use what I have. It in 1p, 2p, 5p and 20p denominations, and as I rarely go to the bank they just mount up until I can. I think I only have about £25 in coins anyway, so I'll just put a few in my purse each time I go out.


I always keep a few pounds in pound and 50p coins so I will leave them in case of emergencies.


I have finally sorted out what my starting balance was for this month - the way my bank account shows monies in and out is different from the way I record it.


I had over £100 starting balance. Today that goes into a savings account.


As I am checking my finances almost daily, I should be able to transfer funds that I have put by monthly for things like home and car insurance in good time to make those annual payments. I have an easy access account for these items. As soon as I have paid one, I will put any excess into longer term savings (I hope I've over-estimated everything slightly).

Catcherupper14

I "banked" my contents insurance and magazine subscription in my easy access account yesterday, ready for when the next payment becomes due. Otherwise it was a no-spend day.


I am getting to relish these.


I need to meal plan and stick to it if I'm to succeed in the grocery challenge. I have been too disorganised this week.

Catcherupper14

My progress report:


This week I have all my meals planned and my dinners prepared and in the freezer - so far this has been very helpful as I don't have to spend lots of time thinking about what to eat and shopping for things I haven't got in. It also means I'm not nipping to the supermarket for one item and coming back with 20.


I'm saving money by not going to the shops so often. I hope to meet my target in the grocery challenge of £160 this month (some people can feed a family on that, but I have been very extravagant in the past).


My only "unnecessary" spending lately has been for Christmas gifts from my savings. This year some friends and I are buying small gifts as a one off as we no longer work for the department and are having a reunion - I put £100 by for this purpose.


I will start Christmas shopping proper in December - I have money saved for this purpose.

Catcherupper14

So far this month I've managed to spend considerably less than last month.


Grocery spending is definitely down and I've had to throw very little away - egg shells, used tea bags, peelings etc (although some people on the old-style board use peelings too).


All my main meals for the month are prepped and in the freezer - soup ready for lunches. I don't feel that I've compromised what I eat in any way - it's all good quality produce, prepared in a healthy manner which will help me lose weight.


I have spent very little of my "outings" money so far (but have a meal out today) so i'll have a good holiday savings pot which can go into short term savings for the moment.

Catcherupper14

My travel "pot" is still pretty full (just a petrol spend at the beginning of the month).

Originally I thought that leftover money could go towards buying a new car. (In 5 years I will have £6000 if I save £100 a month).
Changed my mind to make saving this money a priority, so I will put this £100 into my ISA each month until the ISA is full. At that point I will re-assess.

I also need to put by about £30 a month for car insurance. This will go into short-term savings until I have a reasonable pot.


I've now diaried to do a three-monthly check to see if I am getting the best return on my saving.