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2015 Frugal Living Challenge

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  • lynnejk
    lynnejk Posts: 5,732 Forumite
    Rampant Recycler Debt-free and Proud!
    What do people suggest? One positive action we have done in the last few days is arrange to switch our gas and electricity supplier, saving £19 per month. I meal plan and always shop with a list. I love a yellow stickie. What else would people suggest?
    I agree with Cheryl on this.


    Maybe if you sit down with a large sheet of paper and write down everything you spend each year. Then maybe you can have a good look and see if you can cut some things back a bit.


    Some things I do


    Buy everything I can through cash-back sites


    Never automatically renew anything such as car insurance. I always use a comparison site a month before it's due and find a cheap deal. Then, if the company I am with won't match the deal I've found then I switch. I always pay yearly as it's cheaper.


    Pay everything else on monthly direct debit as it's usually cheaper


    I have a credit card on 0% with cash-back on purchases and use it for everything. I have maxed it and keep the funds in current accounts paying interest, each week dripping back enough funds to keep the card active.


    We do not have a television subscription and just use Freeview.


    We have the cheapest Broadband package and cheap phone packages, using the WIFI is only at home or on another free site.


    I do on-line surveys and scan shopping to earn extra pennies.


    I use cheap household products - such as bleach (A*di), toilet rolls (F.Foods) and lots of white vinegar. I only use branded food products when we have tried cheaper and don't like them


    I make all our meals from scratch and am on the monthly Grocery Challenge, where you get lots of ideas, support and loads of MSE recipes.


    HTH
    Lx
    £10day.2014=3213/2015=3421/2016=3238/2017=2702/2018=498..APR=12.03/300
    GrocC.2014=2162/2015=2083/2016=218/2017=1996/2018=450..APR=17.13/200
    Bulk buy.......APR=233.76
    GC.NSD..2015=216/2016=213/2017=229/2018=39..APR=03/15
    SPC130:staradminx61..2014=1178/2015=1287/2016=4616/2017=3843
    OS WL= -2/8 ......CC =00......Savings = £13,140
  • Thank you both Cheryl and Lynne. A lot of the stuff you have both suggested I already do, but there absolutely is room for improvement. I am writing down your suggestions, I will be looking into what I can cut back on, and our financial advisor is coming over tonight to help us get ready for remortgaging in February after the new remortgage guidelines have come in. Between all of that, I hope to identify things that will help us to reduce our reliance on tax credits.
    2016 MFW no. 47 £0/£3,000
    MFiT T4 no 26 Start bal £149,294, Current bal £149,294, Target bal £134,294
    Make £2,016 in 2016 £1180.55
  • cw18
    cw18 Posts: 8,630 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    lynnejk wrote: »
    We do not have a television subscription and just use Freeview.
    I don't even have Freeview, so no TV licence either (£145 to spend elsewhere ;))
    We have the cheapest Broadband package
    I switched earlier this year to one that worked out cheaper after cashback, and have had nothing but trouble with the connection - but they won't accept it as a problem. Will be swapping back at end of minimum term when this one would have become more expensive anyway!
    and cheap phone packages
    Mine's not bad, but despite not being 100% happy with my handset I shall be looking to see if I can find a cheaper SIM only deal at contract end (March)
    I do on-line surveys and scan shopping to earn extra pennies.
    Me too. Along with cashback on groceries, they fund my DVD addiction :whistle:
    I only use branded food products when we have tried cheaper and don't like them
    There are very few things I'll only buy the brand names of, and I stock up when they're on an offer making them the same price as (or cheaper than) stores own label
    I make all our meals from scratch and am on the monthly Grocery Challenge, where you get lots of ideas, support and loads of MSE recipes
    Not quite all from scratch here, but pretty much so. We're on yellow stickered ready meals tonight as I have a big dentist appt across lunch and an opticians appt at 5pm. Means I've got q&e 'slops' at the ready when I get home with a growling stomach :D
    Cheryl
  • Frugaldom
    Frugaldom Posts: 7,139 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Hi Wombatchops, I am glad you got things sorted out with the tax credits people - I'm not sure when it becomes Universal Credit or if it already did and will soon be changed again - it all seems like a right mess to me. What I do know id that getting back off them is equally difficult! 'They' want to know every detail of why you DON'T need them and there isn't an option to simply say you don't want them! It's quite a ludicrous situation and can be very stressful while sorting it all out each and every year.


    Every year, I count up what NEEDS to be paid over the 12 months as absolute essentials and basic 'luxuries' for the household:


    Rent/mortgage
    Home insurances
    Council Tax
    Groceries
    Toiletries
    Cleaning products
    Electricity
    Gas
    Coal & Logs
    Telephone (landline)
    Internet
    Mobile phone
    TV licence
    Clothing & Footwear
    Gifts
    Transport related
    Postage and deliveries
    Household pets & vets


    I no longer have mortgage or rent to pay but I live as though I am still paying it by investing it into the Frugaldom project. My kids are up and away so anything extra also gets invested into the project, as it will eventually become their inheritance and, in the meantime, it is my work/income.


    The above all relate to the cost of living, but you would also be wise to do a cost of working spreadsheet so you can establish how much it costs you to go out to work. So many costs related to this get overlooked and, for many, the choice to stay home as a SAH parent is more cost effective. It is a fulltime job rearing kids, running a household and balancing a frugal budget around a 'normal' lifestyle.


    For moneysaving, I buy everything I can at reduced prices through cashback, doubling up by using a cashback credit card and then transferring that cashback into Amazon vouchers so it gains another 5%. Pays for gifts and luxury extras. :) There's a list of handy links in the intro posts and we have the diehard extremist frugalers in the frugal forums, where we have the live chat room for scheduled moneysaving chats. :D


    I hope some of this helps and good luck with your challenge. If it's easier to keep the tax credits then live within your own budget and save the spare cash as emergency fund.
    I reserve the right not to spend.
    The less I spend, the more I can afford.


    Frugal living challenge - living on little in 2025 while frugalling towards retirement.
  • Frugaldom wrote: »
    I hope some of this helps and good luck with your challenge. If it's easier to keep the tax credits then live within your own budget and save the spare cash as emergency fund.

    At the moment it is both easier and necessary to have the tax credits, but your suggestion is what I've been thinking about doing. It will definitely help us to transition away from needing them.

    The stupid thing is, when I go back to work, what I earn will be far and away outstripped by any childcare costs (DD1 in breakfast and after school club, DS, who is 2 and too young for pre-school or the 15 free hours, at nursery, along with DD2). However, as a family we are still better off with me working until at least April, when the tax credit cuts come in, for three reasons.

    Firstly, those tax credits that I hate will be enough to keep us going only so long as I work and put the kids in childcare. If I don't work, they will drastically be reduced.

    Second, my DS is currently in nursery because it has been costing us less than £20 per month for three school days per week, due to DH and I both getting childcare vouchers. However, whilst I have been on maternity leave, this is a benefit, and if I don't return to work for at least three months, I'll have to pay the almost £3k back. But if he wasn't at nursery, I'd lose the vouchers and possibly wouldn't ever be able to re-claim them.

    Finally, we won't be able to remortgage and get a better deal if I'm unemployed.

    I've been part of this thread from the start of the year, but I have failed miserably with my target budget. However, I will look at the start of the thread for those links. Thank you Frugaldom.
    2016 MFW no. 47 £0/£3,000
    MFiT T4 no 26 Start bal £149,294, Current bal £149,294, Target bal £134,294
    Make £2,016 in 2016 £1180.55
  • Kerry_Woman
    Kerry_Woman Posts: 3,155 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    July was an expensive month. But it was buying toiletries that I was running low on and stocked up - will last me for quite a few months and saves me doing trips to [EMAIL="W@itr0se"]W@itr0se[/EMAIL] every month for a certain item for women.


    So far this month I seem to be managing not spending as much in some areas.


    My Mum and I have ruthless with getting rid of the clutter. We have been willing to let go of some things that have been hard to get rid of. I have taken 3 carrier bags this week to the cs and some things had to be binned. I still have to take some things to the recycling centre.


    Am getting a quote on Tuesday for double glazing for the flat. So hopefully that will be done soon. That will be one thing to cross off my list as one of the things I wish to achieve. There are 2 other small maintenance things I want done in the flat this year, but these can wait until the double glazing is done. Then next year I will do other things in the flat that need doing.


    Completed a free Level 2 Nutrition and Health online course and passed all of the assignments. Have received the certificate. Have applied to do some other free online courses, but will have to wait until there is funding in the area where I live.


    Have decided to cut back the amount of voluntary work that I have been doing, so that I can achieve some goals that I want to do. Some of them are short term, long term and on going.


    Hugs to those who need them.


    Hope everyone has a nice Bank Holiday weekend.
    Frugal Living Challenge 2025 Mortgage free as of 1st August 2013
  • Hi everyone,I really need to join in,my husband is being made redundant in November and I am trying to save as much money as I can,so far I have
    Switched energy suppliers
    RAC renewal cover was £199.00......got it reduced to £109.00
    Sky was £72 a month,phoned them and it was reduced to £42
    That's for TV,line rental,unlimited broadband,multi room,free phone calls.
    Only buy food when it's down to 90 percent off at Tesco.
    Home insurance renewal was £189.00 so switched and got it for £106 and we receive £75 in M&S vouchers.slowly looking at direct debits and seeing where we can cut back,any advice would be great.thanks
  • Hi everyone,I really need to join in,my husband is being made redundant in November and I am trying to save as much money as I can,so far I have
    Switched energy suppliers
    RAC renewal cover was £199.00......got it reduced to £109.00
    Sky was £72 a month,phoned them and it was reduced to £42
    That's for TV,line rental,unlimited broadband,multi room,free phone calls.
    Only buy food when it's down to 90 percent off at Tesco.
    Home insurance renewal was £189.00 so switched and got it for £106 and we receive £75 in M&S vouchers.slowly looking at direct debits and seeing where we can cut back,any advice would be great.thanks

    Good luck happydays89. Redundancy is horrible. We went through it 3 years ago when I was pregnant with DS. But we'll done on all of your savings so far.
    2016 MFW no. 47 £0/£3,000
    MFiT T4 no 26 Start bal £149,294, Current bal £149,294, Target bal £134,294
    Make £2,016 in 2016 £1180.55
  • I am sure you have thought of the obvious, shop at Aldi, Lidl, 99p or Poundshops but also if you do an online shop, click and collect so you do not pay delivery, you can save money by not see stuff you do not need. Hope this helps and good luck.
  • Frugaldom wrote: »
    For moneysaving, I buy everything I can at reduced prices through cashback, doubling up by using a cashback credit card and then transferring that cashback into Amazon vouchers so it gains another 5%. Pays for gifts and luxury extras. :) There's a list of handy links in the intro posts and we have the diehard extremist frugalers in the frugal forums, where we have the live chat room for scheduled moneysaving chats. :D

    How do you get the 5% extra with the amazon vouchers?
    MFW 16 No 33
    2016 OP Paid/Target 2063/£2063 (100%) COMPLETE
    Mortgage Free - Apr 2016 -DONE!:j
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