Living below your means

[Deleted User]

I've just come across this thread too, and as a sinlge parent on benefits I'm always looking for money saving tips. I seem to walk around with nothing in my purse all the time .I just don't know where it all goes, so any tips greatfully recieved!!!!!

Sarahsaver

Surely if you do not live 'below your means' that would mean being in debt! Simple really.

Topher

Sarahsaver wrote: »

Surely if you do not live 'below your means' that would mean being in debt! Simple really.

I don't understand your thinking with this one. The way you live, and the means you have, operate on their own but are interlinked (one needing another) So if you live beyond your means, your living would eventually lead you to debt ('cos you use up your own means and those of someone else). If you LIVE below your means, you can acrue money..... surely?
T

natzini

I'm loving this thread, it's so inspiring! OH and I are in our mid 20s and over the last year we've had to tighten our belts a lot because of my illness. I'm much better now (will never be 100%) and have a good job again, but we'll still stick to a similar budget, OS cleaning and cooking etc so that we can sell up and buy ourselves a lovely little house, pay off our debts, and once we've moved be able to afford to do the kitchen, bathroom etc (if needed) without having to resort to credit etc.

jazzyjustlaw

natzini wrote: »

I'm loving this thread, it's so inspiring! OH and I are in our mid 20s and over the last year we've had to tighten our belts a lot because of my illness. I'm much better now (will never be 100%) and have a good job again, but we'll still stick to a similar budget, OS cleaning and cooking etc so that we can sell up and buy ourselves a lovely little house, pay off our debts, and once we've moved be able to afford to do the kitchen, bathroom etc (if needed) without having to resort to credit etc.

I am glad you find this thread so inspiring, that is why I started it all that time ago.

Sarahsaver

Topher wrote: »

I don't understand your thinking with this one. The way you live, and the means you have, operate on their own but are interlinked (one needing another) So if you live beyond your means, your living would eventually lead you to debt ('cos you use up your own means and those of someone else). If you LIVE below your means, you can acrue money..... surely?
T

I understand me!

Topher

Sarahsaver wrote: »

I understand me!

Awwwww.
I'll try to.
T:D

moanymoany

August is a diff month for us. We pay our car tax and insurance, house insurances and car MOT and servicing. For the first time - and thanks to help and information from the OS forum - we have covered it all without having to pay monthly. We do pay for the car service and MOT using tesco vouchers. As we have a clubcard plus we get double points. They are enough to cover three trips through Eurotunnel and the car service and MOT. Not bad!

In the book 'The Millionaire Next Door' which is a fascinating read, most of the millionaires live well within their means and that is why they are millionaires!

ceridwen

moanymoany wrote: »

August is a diff month for us. We pay our car tax and insurance, house insurances and car MOT and servicing. For the first time - and thanks to help and information from the OS forum - we have covered it all without having to pay monthly. We do pay for the car service and MOT using tesco vouchers. As we have a clubcard plus we get double points. They are enough to cover three trips through Eurotunnel and the car service and MOT. Not bad!

In the book 'The Millionaire Next Door' which is a fascinating read, most of the millionaires live well within their means and that is why they are millionaires!

Hi

Good to hear those darn bills are coming under control. The first thing I did towards getting the bills under control was to take up a colleagues suggestion to swop the Council tax from monthly payments for 10 months of the year to having a monthly payment every month for all 12 months of the year. The Council makes people redo this each year - but it ensures that the Council tax is spread more evenly throughout the year. I have also done a bit of changing which month a major-type bill comes in - to help spread things out a bit. I arranged to pay my insurance cover in a different month - as the month it WAS due in was a higher-than-normal bills month anyway (think I probably did it by paying 10 months worth - instead of 12 - so that the following years bill came 2 months earlier - something along those lines anyway).

I think that is the basic thing to do with bills:
- have the cheapest supplier you can for everything
- spread the bills out to be as nearly as possible identical each month of the year
- pay the house insurance yearly, rather than monthly, if at all possible (as they charge quite high interest for the privilege of paying it monthly)
- I swopped from Gas Boards 3 star agreement to a "little man" locally coming in once a year to service the system (its also easier - as he knows my house so well now he can find whatever he wants straight off - and I know its coffee with milk and 2 sugars without asking him).

nicola1982_2

I rent rather than getting a mortgage - meaning I can live in the loveliest area.
I cook from scratch and buy my veg seasonally.
I stock up on condensed soup as they make the tastiest sauces.
Economy lightbulbs.
I have Sky+ (box as a birthday present) on low Sky package. I record tons of CSI so I can enjoy an evening in having a CSI night, but also get loads of films on the random freeview film channels.
I use a mini convection oven for cooking mostly - no need to preheat
I utilise all my employer benefits such as staff discount and a warehouse shop that means I get my toiletries incredibly cheap.
I shop in Lidl and anything they don't stock I'll drive over to Tesco for (and collect points).
I'm in every parenting club available.