Coco's Money Saving Diary

coco2972

Hi everyone,

I have been a lurker on the boards for ages now and feel its time I introduced myself. Hope no-one minds me starting a diary but I feel it will help me loads to see my progress and talk about money saving with you all.

I am a 25 year old IT analyst in Devon, living with my partner for 5 years now. In November 2005 we bought our first house using every last penny we had. By the time we had furnished it and paid for everything we needed to we were in a small amount of debt. Luckily we both have reasonably paid jobs and have been able to clear the debts. We have used a combination of budgeting and extra earnings, such as using Tesco points for a weekend away so we don't feel we are being deprived! Our next target is to build up some savings as I feel at the moment that we are in danger of slipping back into debt as if anything unexpected came up we have only what is in the budget each month to get us through. Eventually I want to move into overpaying on my mortgage but we are not ready to do that until we have some savings as a safety net.

So that is me, I have grown to enjoy looking for ways to save money and spend less, but still have loads left to tackle. I will post again to say what my progress so far has been and what I need to look at next! Thanks for reading

coco2972

Since May 07 I have realised that as a couple earning a reasonable wage, it is not acceptable for us to be wasting money in the way that we were. We both want to start a family at some point in the next 5 years and but feel strongly that we want to be secure before we do. I don't think we will ever have as much disposable income as we do now (once we have kids) so we need to make it work for us!

Here is a quick rundown on what we have done so far.....
Budgeting - The big one! This showed us how much we were wasting before. We budget to put money into our ISAs but I see it as a challenge to see how much more we can save per month on top of this.

£2 Coin Tin - Has been growing since 01/12/06. On its 1 year birthday it will be opened and banked, and a new one started for next year. The rule is that every single £2 coin we get goes in, no excuses! We were talking about this last week and trying to guess how much might be in there. I guessed £250 but secretly hope it is a bit more! OH guessed £400 which would be fab but I am a bit cautious. Its one of those large tins and feels about 2/3 full at the mo (although hard to tell as you can't see in!).

Mortgage Pig - At the momet more of a savings pig, although some of the money will eventually go towards a deposit on a new house (in a few years) so it keeps the name. Penny Pig enjoys the leftovers from my weekly supermarket budget, plus any extras we have.

Quidco - Have only just discovered this! Already at £13.89 for only a little effort. Planning to look at the Gala Bingo & Jackpot Joy offers later and see if I can boost that amount.

Pigsback - When I remember I enter the comps and do the CTs. But been a bit forgetful recently. Have recently got £30 of Theatre Tokens from them which will treat us to a nice evening out. That reminds me, must book something!!!

Amazon & Ebay - I have been successful here before and plan to get listing in the next few weeks to boost my totals.

I am sure there is more, but will post about it when I think of it! Things I haven't done but should include changing energy supplier (through Quidco) and checking if any other household bills can be reduced. Oh and getting better at filling in surveys, only need a few more before I can get a voucher from Valued Opinions but keep missing them! x

Lucy1982_2

Sounds like you are getting things sorted. Have you posted your SOA? Just gives us a chance to see if there is anywhere else you can cut back.

Good luck

coco2972

Monthly Incomings:

My salary - £903.00
Partners salary - £1580.00

Total - £2,483

Monthly Outgoings:

Mortgage/Rent £900
Council Tax £133
Gas & Electric £44
Water £26.50
TV Licence £12.00
Broadband £19.99
Phone £16
Food £260
Petrol £100
Life Insurance £31.88
Mobile Phones £35
Spending £260
Gym £44
Haircuts £20
Weight Loss Class membership £17.95

Total £1920.32

Leaves £562.68 of which we aim to save £400 into ISAs & 100 into an ‘emergency fund’ for those unexpected expenses. So there is a £60 buffer each month. Sounds easy on paper!

Lucy1982_2

It always sounds easy on paper!! It looks good, obviously some people would suggest that the gym could go (but if you use it that's fine by me!) As a member of Slimming World I'm all for weigh loss classes!!!

Just make sure you treat yourself every now and then as it makes the process much easier.

coco2972

Thanks Lucy, I think we made the budget to allow a few treats as otherwise I know we won't stick to it! The gym membership is definately staying - I use it 3-4 times a week and it motivates me to eat well too!

coco2972

Have been off sick from work today but managed to have a productive Money Saving day! Completed Gala Bingo offer through Quidco this morning and its already validated! Thats another £30 on the Quidco total

Also, listed a few items on Ebay and already got a bid on one of them. Hopefully that will be a few more quid next week.

Finally, been writing a list for OH to take to supermarket tonight so he doesn't get confused by the bright lights and special offers! Should be under budget for food spending this week. If only it was always this easy :rotfl:

Lucy1982_2

Looks like your getting there. I've been feeling like I've hit a brick wall, but have been trying to remember I've only go to make one more payment and the store card dies!!!!

Hope your OH sticks to the list, mine doesn't even make one! Although he pays for it so it's up to him, I just hate going round there trying to cook dinner when there is nothing to make meal with. I really need to sit down tonight and sort out Ebaying stuff.

coco2972

Well my Quidco total is creeping up, thanks in part to a small splurge on Itunes this afternoon (Within my spending budget)! Have also joined the September Grocery Challenge to help me keep track of my spending on food. I find food is the one thing I struggle to control spending on. I went to Tesco last night for just a couple of meals & storecupboard bits and spend nearly £40!! And that was with a list (although we didn't stick rigidly to it - I guess thats the key! :rotfl:)

Just made the Chicken & Prawn Egg Fried Rice from last weeks Cook Yourself Thin which was really yummy. Made a few slight alterations to please Mr Coco but we both really enjoyed it. Today was also my first day of counting my Weightwatchers points properly in about 3 weeks, so all in all am feeling quite positive about it all!

coco2972

Having read about the Lloyds TSB Save the Change idea, I have decided to do a DIY version myself. Starting from last Saturday, after every transaction goes from my account, I transfer the odd pennies into my online savings account. This has added up to £3.93 just in the last week! Its quite easy to do as I log onto my banking every evening. It is kind of my version of the change jar challenge as I don't use cash all that often. I am always after these simple ways of saving a little extra as I find them quite motivating Does anyone else do similar? Or have any other similar ideas for boosting savings like that?