2015 Frugal Living Challenge

COOLTRIKERCHICK

morning all,


this weather is now driving me mad lol..


that's a good idea of having a list of the things you would like/need to have, so then you can keep an eye out for it in the sales, or as you say frecycle and FB pages.


At the moment I am a list of the things that are around the house, that I eventually want to take to the auction...


I am hoping that some of the things will sell, ad we will have the cheque cleared in our account, ready for start of the council tax payments.. I know I am dreaming, but it would be great if we could sell/get enough money to pay off the council tax right at the beginning of the year, so then I don't have to worry abou it then in the 'lean' months..

cw18

As you don't pay any extra on the CT bill for paying in instalments (unlike car/home insurance and road tax), I point blank refuse to let them have my money any sooner than I have to

To that end, I've just been in touch with them to change from 10 payments a year to 12. I didn't realise until a few months ago that this was possible, as they didn't advertise it as an additional option to the 1 payment or 10 instalments that were available when I set up the account for this property in 2002. OH says he likes having the 2 months off and hasn't checked to see if his council now allows 12, but extra money in the bank in Feb and Mar isn't much use to me (if it were Nov/Dec or Dec/Jan I may have stuck to 10 in case I had an expensive Christmas) so 12 smaller payments it is for me starting in April

his_missus

Hi all,


Still keeping up with the spending diary and still on budget for my grocery spends.
With a bit of creative menu planning, I managed to afford both bacon and wine (Hubby considers these as essential luxuries ) and, after buying bread and veg today, I still have £2 left. It's payday on Friday and I shouldn't need to buy anything else before then so this will be the first month I've come in under budget for my groceries

dizzytina

Nicki_Sue wrote: »

A code came through this morning for a free Kindle book (I love to read, I don't pay for Kindle books though if I can help it!). I've Adele Park's The State We're In downloaded now and ready for me to enjoy (for free) this weekend, saving 3.00.

Got some gifts for my Dad's birthday yesterday too, all 50% off from the the Leukaemia & Lymphoma Research online charity shop (sale stuff is dotted about a bit in some sections but worth looking if you do have someone to buy for).

OOoo well done i love Adele Parks. How did you get the code?

rising_from_the_ashes

cw18 wrote: »

As you don't pay any extra on the CT bill for paying in instalments (unlike car/home insurance and road tax), I point blank refuse to let them have my money any sooner than I have to

Some do offer a discount if you pay in full within a certain time so it's worth looking into if you can afford it / it's less than any interest you would earn.


I pay over 12 months - I've also heard others referring to the 2 months as 'free' months but you pay more the rest of the year so they're not really (I do get how it could be useful for say taxing the car etc which I know some people use it for)

The difference for me was about £30 / month and my budget is tight so I'd rather spread it out and pay the same each month

cw18

OH calls them 'free months' - I just called them 'months off'

My council doesn't list anything about a discount for a single payment - and I need to keep as much money in my account for as long as possible while I find some more to go into it (job hunting in the pipeline I guess!). I've not actually heard of any council that does, so perhaps it a new thing that may roll out around here in years to come?

The difference for me between 10 and 12 is about £24/month, so I considered it well worth extending the payment period

Unfortunately my road tax and car breakdown are due in January, and service, MOT and insuarnce in July. So having the money available for other uses in Feb & March has never been of much use to me

abby1234519

Hi all,

Rejoining. attempted to live frugally in 2014, once it reached my wedding it went tits up and I've lived very unfrugally since then.

But I literally have no choice in 2015, its either that or bankruptcy! My 2015 expenses -

Council Tax £988 (estimate)
Energy £900
Water £360
TV License £264 (pay quarterly till August then pay next year in full)
Landline,Tv and Broadband £540 (unfrugal however we don't go out, tv is our only entertainment, use fibre optics for online gaming Plus I have 6 months free netflix)
Mobile £1114 (no that isn't a typo!3 contracts. 1 expires October, waiting for phone back from insurers then should get £100 for it which would bring year total to £1014. Can't downgrade, have tried lots of times. OH contract will drop from £35 to £15 in December and mine will in 2016)
Gifts £300 includes our son, and all the family for christmas and birthdays. OH family are big on presents, I plan to try to make as many gifts as I can or accumulate reduced things throughout the year to create gift baskets/boxes.
Account Fee £120 (covers my breakdown, mobile insurance and travel insurance)
Car Insurance £790 (hope to reduce upon renewal in July)
Petrol £1200 use about £15 to and from work a week. allows for visits to mums and other places
Road Tax £189
Mot and Service £180
Car stuff £600 (08 plate, hope nothing goes wrong! Goes through front tyres quickly and needs tracking doing regularly)
DFS £376 (remainder of sofa payments, I don't count this as a debt as its 0% and leaves the account like a bill)
Fridge and Freezer £250 (same as DFS)
Rent £7200
Childcare £3822 (guess based on reduced nursery hours once Oh finishes college in June and so will have him home until he goes to school in Sep)

Groceries £1200 ( £25 a week if you don't include January as I have cash out for January)

Total £20396

We bring in £24326 in wages after tax. I estimate about £4500 in tax credits (universal credit from feb) and child benefit.

So there is a surplus of £8000+

But not really as our debt payments are about £550 to £600 a month. And at the moment we are struggling, as of April should be okay. Once the little one reduces his hours at nursery we will gradually start to be able to snowball debt and pay off 18k within 2.5 years.

But this all hinges on me being able to stay away from credit and live within my means, bearing in mind my means isn't that big.

So books, cds, clothes, footwear,days out are all zero budgeted. Holiday caravan at the end of August (£200 as sharing) is zero budgeted.

50% of everything I sell will go to fund the family caravan holiday. the other 50% will go to treats. Around June I will be able to overpay debt. Every spare penny from budget will go to debt, all money from selling or surveys will go towards treats. As the year progesses and money is released (ie when phone contract ends) that will go into the household savings emergency whatever you want to call it fund.

I've also budgeted £400 for a costco trip at the start of May. Don't expect to spend that but I hope to have depleted my tinned goods,toilet rolls, freezer meat etc.

Nicki_Sue

dizzytina wrote: »

OOoo well done i love Adele Parks. How did you get the code?

DizzyTina - No idea - I just got an email for it, presumably for the 19p e-book I bought the week before

maria3104

Nearly half way through Jan 2015 and my frugal year is doing OK.
Last year my household living costs were £7800 in total. No childcare costs, very low house running costs, log burner etc. Anyway last year never went on holiday, which helped. I put £3600 into 3 childrens pension.

2015 I want to do the same and also include a new GS. Am going to chop off his Dad from my list as he is now 25 and that is going to be my cut off point.

I am amazed that more people do not make this type of decision. What use is stuff? How much stuff do I need? Do people really look in horror at my little car and think I am a failure because it is not an audi Q5.etc. The few people I discuss this with are horrified and believe I should be going on a cruise, buying clothes or a buy to let for me. WHY? I am careful never to make my children feel a sense of entitlement or remove their hunger for work. I have no desire to mess with their career heads.

Are people just afraid of being different. Am I on my own with this? How odd am I? Thought this thread was my best chance of finding a like minded soul.

Bambywamby

maria3104 wrote: »

Nearly half way through Jan 2015 and my frugal year is doing OK.
Last year my household living costs were £7800 in total. No childcare costs, very low house running costs, log burner etc. Anyway last year never went on holiday, which helped. I put £3600 into 3 childrens pension.

2015 I want to do the same and also include a new GS. Am going to chop off his Dad from my list as he is now 25 and that is going to be my cut off point.

I am amazed that more people do not make this type of decision. What use is stuff? How much stuff do I need? Do people really look in horror at my little car and think I am a failure because it is not an audi Q5.etc. The few people I discuss this with are horrified and believe I should be going on a cruise, buying clothes or a buy to let for me. WHY? I am careful never to make my children feel a sense of entitlement or remove their hunger for work. I have no desire to mess with their career heads.

Are people just afraid of being different. Am I on my own with this? How odd am I? Thought this thread was my best chance of finding a like minded soul.

You should spend your excess money how you see fit and if saving for your children's long term future gives you the greatest amount of satisfaction; why not?


I have a 23 year old and a 3 year old - and having my first child in my early 20's, I wasn't as clued up to save for his future as I am his little sister. Like everything, financial wisdom comes with age. (Usually.)
I save for my little one and it comes out of my bank account by standing order every month and I just see it as a bill that must be paid.


My son (fortunately) is in a well paid job, with a good pension and is quite frugal minded and a saver... otherwise I would probably be putting something aside for him too.