2017 - my frugal year

SkintTeacher

emylou wrote: »

Oh that sounds delicious- would you mind sharing the recipe please? I want to use our slow cooker more and need some inspiration!

Stewing steak 700g
30g flour
2 large onions
I garlic clove, crushed
Oil to fry the beef
500g tomatoes (I used a carton of chopped tomatoes)
Beef stock (400ml)
1 1/2 tsp paprika
1 1/2 tsp tomato puree
2 bay leaves (left these out and added dried herbs instead)
Salt and pepper (I didn't add salt cos of stock cube )
Dash of Worcester sauce

I also added a £1 vegetable stew pack (turnip, 2 carrots, parsnip if I remember correctly) to make it go further and as it was my main meal of the day I wanted to get some veg in there!

Fry off flour-coated beef with oil and then just chuck it all in together, basically.

Enjoy!

SkintTeacher

engineer_amy wrote: »

last year when I was clearing debt, it really helped me to set firm targets.
I joined "pay off all your debt by xmas 16" in December 15 and I knew the amount I needed to be debt free (except the mortgage). my monthly target then was at least 1/12th of the total. some months I paid more, some months was less, but I managed to get 100% before Christmas. I don't think I would have stayed motivated to do it myself if I didn't have a "public" target or goal. It also had the added bonus of support of other people in a similar situation.
Why don't you have a look at some of the challenges to see if any suit you? some are debt busting, some are savings goals.
And if you do yourself a statement of affairs and a budget for the coming year, you might be able to set aside a category for "Lego Fund" for any moments of weakness!

Thanks engineer Amy- I'm going to have a good think about clear goals. My cc debt is so small it's tempting to be lenient with myself but my long term goals include retiring before I get carried out of school in a coffin and clearing my mortgage quicker than the current term. I am doing the no spend day challenge currently (I elected to do 15 nsd this month and currently at 5, so not bad!)

Great to hear about people like yourself who've cleared all debt. :T

SkintTeacher

Loong day at school but just checking in to report a spendy day - I contacted the wedding dress shop and they told me they were reserving my wedding shoes for me at their sale price. I assumed this would be a bargain so I got them to actually specify and found out I could get the very same for £20 cheaper. Spent £42.50 on them and they're on their way to me now. I also put down a deposit for a flamenco guitarist to play at our wedding reception at (another £46).

Totals spent so far this month
- £132 on any non-direct debits
- £235 on wedding (as the payment to city hall for the ceremony came out this month)
- £550 to savings (proud of that one)
- £1139.67 on bills/ groceries for the entire month/ petrol

£480 in the current account - do people suggest 'hiding'this in a savings account that is easy to access? Or leaving where it is? I have no more bills or major payments to go out...
Child benefit comes in near the end of the month too at £80

SkintTeacher

Left my purse at home today and as I drove home from work I was tempted to stop and buy chocolate after a rubbish day but...couldn't! A win, win on the financial and physical diet!

Katzen

Hi ST,
Fellow teacher here. Is the credit card the extent of your debt? I'd be tempted to hide most of the current account excess in savings. I bank with first direct and have an easy access account alongside my current account. I have a direct debit into that for 1/12th of annual expenses, like MOT and Christmas but I also shuffle across any excess. That way my CA always looks pretty sparse and I'm less tempted to spend but if I need it for something, like a vets bill, I can just pop online and transfer it instantly. I'd then be looking to chuck it at the credit card come pay day.

Best of luck with everything.

SkintTeacher

Katzen wrote: »

Hi ST,
Fellow teacher here. Is the credit card the extent of your debt? I'd be tempted to hide most of the current account excess in savings. I bank with first direct and have an easy access account alongside my current account. I have a direct debit into that for 1/12th of annual expenses, like MOT and Christmas but I also shuffle across any excess. That way my CA always looks pretty sparse and I'm less tempted to spend but if I need it for something, like a vets bill, I can just pop online and transfer it instantly. I'd then be looking to chuck it at the credit card come pay day.

Best of luck with everything.

Hi Katzen,

Yep credit card debt (plus mortgage of course!) is all my debt. Great idea about putting it in savings as it does burn a hole in my pocket in the current account. But do I have the energy to go and get my little calculator thingy... *Sips gin and thinks about it*

SkintTeacher

Transferred £200 to savings so there is a contingency fund in my current account. That means most of my money is hidden but I did find myself online shopping this evening for wedding bits - although I left my basket unpaid for, thinking I'd click buy tomorrow if they still seem like good purchases.
My twin who has always been the 'saver' to my 'spender' and she was sending me perfectly acceptable budget alternatives to my high end choices! The temptation, for me, is always to splurge as soon as I have any excess money - I think piggy banking could be a good option so that I have as little as possible in my current account. I rang my bank this week but it takes 30-40 minutes to set up a new current account so I've left it for the weekend.
On the plus side, after my partner noticed that I'm making much more money -saving choices this month, he's just thanked me for supporting our little family and being so careful with money. We're both really keen to achieve some longer term goals. I'm glad he's on the same page - he is always more sensible with money than me but I do tend to be in charge of the purse strings so for the last few years whilst he's at home with the little one, we've tended to spend my way because I thought it was making me happy .
One more day at school and them I'm looking forward to another weekend of very little / no spending. I've also lost 5 kilos in my aim to look lovely in my wedding dress.

SkintTeacher

I have finally opened another current account - I am planning to transfer 'fun' money into it so I can spend without feeling guilty. I am a bit all or nothing so at the moment I feel guilty spending even if it is something necessary or that I've budgeted for. I've really enjoyed trying to have as many no spend days as possible and I'm now on 8/10. I think i might set myself a more aspirational target for Feb.

Lonire

Hi there,

I too am on a quest to have a frugal 2017. Also getting married this year. We are pretty much saving up half each. and whatever help we get from family, if that brings the cost down we will put whatever leftover to honeymoon. Somewhere reasonable. My goal is to be debt free as soon as possible and hopefully have some savings to have for married life or at least be on the right path.

I have started a spending diary, making lunches and using Martins mottos when looking at stuff to ensure I don't buy items that I do not need.

Good luck, and hope we can help each other on with the encouragement.

SkintTeacher

Sound like similar goals! We can do this!