2017 - my frugal year

SkintTeacher

Brand new to MSE forums - don't really know how one works but I love reading the debt-free diaries of other people and over the last 3 months I've been setting myself targets. I think writing them down may well help me to stick to them.
This year I am aiming to only spend on clothes when something wears out.
Not spend all my money on lego (my weakness as my son is 4 and I use it as an excuse!)
Get married without creating any further debt.
Pay off my credit card completely (currently at £380 after 3 months hard graft)
Not spend any money on eating out until April (that's going to be tough)
Set up regular savings to both my ISA and my son's savings accounts.

So here's to my frugal year!

another_casualty

Good luck !
I thought getting married is all about expense?
Then again, I'm single
Hope it works out.

DrSqueeze

Good luck, it certainly seems you're starting in the right way with the most important part - a plan - so it's easy to see when you're ahead or behind where you need to be.

Keeping a record of what you're spending and sorting it into categories is also useful, it focuses your attention on your 'problem' areas. One suggestion I have is look at your overheads (household bills, phone contracts, insurances etc) and see if you can get cheaper deals - then use those savings specifically to reduce your credit card so you can feel the benefit.

Wish you loads of success :beer:

katy_ann

Welcome and good luck on your debt free journey! I became debt free in 2015 and my OH and I got married last year, we saved up for 2 years from getting engaged in 2014 and paid for it all and did not use any credit which felt amazing so it can be done!

SkintTeacher

another_casualty wrote: »

Good luck !
I thought getting married is all about expense?
Then again, I'm single
Hope it works out.

I'm doing it on a budget (as yet undecided) but I have booked and planned most aspects of it and so far spent £490 - having quite a bit of financial help from my mum.

SkintTeacher

DrSqueeze wrote: »

Good luck, it certainly seems you're starting in the right way with the most important part - a plan - so it's easy to see when you're ahead or behind where you need to be.

Keeping a record of what you're spending and sorting it into categories is also useful, it focuses your attention on your 'problem' areas. One suggestion I have is look at your overheads (household bills, phone contracts, insurances etc) and see if you can get cheaper deals - then use those savings specifically to reduce your credit card so you can feel the benefit.

Wish you loads of success :beer:

Thank you DrSqueeze - I always check my insurance, bills etc and my partner is very savvy with that kind of thin so doesn't let me get away with my (rather lax) ways! My phone is one place where I know I spend too much (£27 a month) and the last three months I have sat down on the final day of the month and forced myself to write down everything I've spent - categorising it by type. Basically, as I'm not the grocery shopper in my household there is no need for me to ever set foot in a supermarket and yet that is where most of my spending happens. So a bit of a ban on going over their thresholds unless with a specific list (which I must stick to) :cool:

SkintTeacher

katy_ann wrote: »

Welcome and good luck on your debt free journey! I became debt free in 2015 and my OH and I got married last year, we saved up for 2 years from getting engaged in 2014 and paid for it all and did not use any credit which felt amazing so it can be done!

Wow - well done you! :T My wedding is in...April... so I have only 4 months to save for it but how much can you spend in 4 months really?

SkintTeacher

I have spent a total of £3.50 (entertainment for little one) - despite a subscription for the local play place, it costs to take an extra adult and £1.16 for eggs in the past two days (also as entertainment for little one - baking cakes to help my colleagues through the depressing return to work tomorrow!)

I've set up a regular saver with first direct - a manageable £150 a month so as to benefit from the 5% interest as I already had a current account with them. Feeling really positive about saving this year.

SkintTeacher

I've been really enjoying trying to spend less. I read Martin's article about how supermarkets try to make you spend money last night and needed to go to Asda today - I was checking prices per kg and things that I've never even thought about before. It is incredible how you can find the same product in three different places for different prices. I stuck to my list and spent £25 in total. I'm hoping this covers all my lunches next week (which will be either juice or soup depending on how hungry I am).

Saturday was a No Spend day - went to soft play and then to my mum's. Today is a chill out and stay at home day. I'm finding frugality is a different mind-set. Rather than depriving myself, I'm feeling like I'm cheating the system.

Eg. Get an email for 30% off at my favourite shop - ignore, I don't need anything
Get asked to a cafe - suggest they come to me instead, bake something nice and drinks already available
New scheme of 'bacon butties' for break at school - ignore, I don't want to spend the extra pounds, or gain extra pounds on the waistline

emylou

HI, I'm a fellow skint teacher will be subscribing to your diary! I love the idea that instead of depriving ourselves we are "cheating the system" lol!

On_my_way

A marriage is between two people - therefore at most you pay half each!