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basic budgeting / money saving tips

danih
Posts: 454 Forumite

Hi
I am excellent at sticking my head in the sand about my spending habits. But we are trying and struggling to get a morgage, so reluctantly digging the sand out of my ears and trying to focus myself.
All ideas much appreciated!
Thanks
I am excellent at sticking my head in the sand about my spending habits. But we are trying and struggling to get a morgage, so reluctantly digging the sand out of my ears and trying to focus myself.
All ideas much appreciated!
Thanks
:j got married 3rd May 2013 :beer:
0
Comments
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i think the best thing to do is keep records of everything you spend for a few weeks so you can see where your money goes and where you could cut down.0
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I second the spending diary but as well look at things like:
1. Where you shop for groceries and what you buy? Consider downsizing a store or brand. Don't cut out all quality either look to cook from scratch rather than paying for some other person to de-seed a pomegranate (for example).
2. How often do you go out? Could you cut back on this? Try free events, cheaper venues or times. Most restaurants and bars have happy hours or mid day offers etc.
3. Do you buy convenience foods for work or a lot of take ours? Try making things at home to take with you, that smoked saom and cream cheese bagel you spent fifteen minutes and £5 on with a drink at the local cafe could easily be less than £1 and no time wasted either.
4. Take a look at the various calculators on here, and if you really need to cut way down post a statement of affairs for some of our more seasoned members to advise you on cost cutting right down to the gone if needed.
5. Make sure you make the most of apps like my supermarket to get the best deals, take advantage of points, shops like aldi, vouchers (both morrisons and aldi frequently run vouchers in the press).
6. Toiletries for me is a big one; I curse the fact I never knew about aldi hair dye for years. I absolutely love it and it's saving me in real terms a few hundred pounds a year.
7. Ditch brand loyalty unless it's for something that is specific. (Obviously don't mess around if there's say a skin problem and you or your family need something specific!)
I think that's all my addled brain can come up with at the moment but I'll edit later if I can think of anything else. Actually one thing, take it all a step at a time. Don't go from a three course gourmet meal with moet every night to beans on toast and water!!! It is okay to take it slowly and is much more manageable that way.
Remember you've got all the support in the world for any questions or just venting here on MSE!
Xxx0 -
check you are getting the best deals on things like gas electricity phone
look at what you are paying are paying for anything you don't need t things like a gym membership you don't use often satellite or cable tv
when shopping try dropping down a brand so if you use luxury try using normal if you use normally try value brands you might not like every thing but if you find a few items you are happy to use a cheaper brand it will save you some money with some things i mix so i will make a full box of branded soap powder with a box of value.
if you use buses get on and off a couple of stops further away if you are using a bus twice a day say to and from work the savings in fares will add up over a month.
cut out things like eating out or takeaways.
i see some of them have already been suggested sorry0 -
May I add try shopping at your local butcher, baker, greengrocer and market, you only buy what you need because you are not dazzled by the supermarket shelves crammed with all sorts of junk.
Set a budget for all household expenses.
Meal plan and always write a shopping list, only take cash so you can't impulse buy.
Cook from scratch
Grow your own veg if you haven't got a garden you will be surprised what you can grow in a window box or a few pots on the windowsill.
Wilko's are selling off their seeds for 10p a packet at the moment which can be used next year and you can still grow salad leaves from seed up until September or longer indoors.
Make eating out or takeaways a once a month treat.
That is all I can think of to add to the previous two excellent postsBlessed are the cracked for they are the ones that let in the light
C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
Not Buying it 2015!0 -
I miss wilkos
none that I know of in Northern Ireland, used to live close to one when I was at Uni, it was great!
One of the few good things I do is the basic brands, quite happy with value brands for most stuff. OH can't tell the difference as long as he doesn't see the packaging
I am working on a budget for this month - payday is tomorrow. I've never made much of an effort with budgeting before. its going to b a tough month, not looking forward to it, but its got to be done.
Will write all spends down too - I might scare me enough to keep me focused!
We could both do with losing some weight - losing those takeaways several times a week, and daily chocolate and crisps will have a double positive impact.
thanks for the tips so far - keep them coming!:j got married 3rd May 2013 :beer:0 -
I miss wilkos
none that I know of in Northern Ireland, used to live close to one when I was at Uni, it was great!
One of the few good things I do is the basic brands, quite happy with value brands for most stuff. OH can't tell the difference as long as he doesn't see the packaging
I am working on a budget for this month - payday is tomorrow. I've never made much of an effort with budgeting before. its going to b a tough month, not looking forward to it, but its got to be done.
Will write all spends down too - I might scare me enough to keep me focused!
We could both do with losing some weight - losing those takeaways several times a week, and daily chocolate and crisps will have a double positive impact.
thanks for the tips so far - keep them coming!
I have been trying to save money and lose weight also. 3 months ago started using an app on my phone called 'myfitnesspal' to track calories and realised how ridiculously large my portions were. Have halved the portions of most stuff now and surprised how much weight I have lost and how much further food goes. Highly recommend.
Spending diary is a great place to start. Also work out your hourly rate at work and whenever you want to buy something work out how long you will need to work to pay for it. Do I really want to spend a weeks wages on the latest new fangled gadget that I don;t really need? Very sobering.
Look at your budget as a constantly evolving thing, don't stress too much if your a little out for the first month or two just adjust until you get something that is liveable.
Good Luck0 -
Ive moved this to Debt free wannabe, you can post up an State of affairs and get advice on your spending
Hi, we move threads if we think they’ll get more help elsewhere (please read the forum rule) so this post/thread has been moved to another board. If you have any questions about this policy please email [EMAIL="forumteam@moneysavingexpert.com"]forumteam@moneysavingexpert.com[/EMAIL].A little nonsense now and then is relished by the wisest men :cool:
Norn Iron club member #3800 -
Try and live like a miser for two months.
Dont buy anything unless you really really need it. Skip haircuts and hairdressers. Walk to shops rather than drive, even if it is a long long walk, the exercise will do you good. Buy no clothes when you have something to wear that isnt worn out. Think about selling your car(s) (If you can get by without a car, just hiring one when you really need one saves loads and loads). Buy cheap brand food for sandwich meals, and make those sandwiches last for as many days as you can. It is summer, go out on foot and find food to eat, blackberries, plums, apples, use them to fill a hole.
Borrow books from the library. Read them, keep the TV switched off to save money on electricity.
Question EVERY penny that you spend. I mean EVERY one.
Then after two months, look at your bank account, see how much your spending has fallen in the last two months compared to the two months this time last year.
Living frugally will teach you to live frugally. It is practice for the real thing. You will find out what things you really miss, and which ones you thought you needed, but dont so much. We all get stuck in our ways, a different approach will let you see new possibilities.
And save you money.
Keep it up, and you might not have to live so frugally in the future.0
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