My attempt to be a super saver

snozberry

I had no idea that this board existed!

In theory, I should be a whizz at saving money but in reality I am not. I ended last year with £2k in my savings account. For some, this is a huge amount but, for me, it isn't so great.

I have a permanent FT job and I earn £32k a year. I live with my fella but we keep separate finances (my choice) and we have a little boy. We no longer have a nursery bill to pay and I have completed paying a bank loan that I once took out when we weren't living together as I was in a bit of a pickle (I once had debts around £10k but, through a lot of hard work, I obliterated it. He doesn't know and never will). I should have learned a valuable lesson from it but I didn't.

To keep myself on the straight and narrow, I have resurrected my spending diary and I have deleted the Amaz0n app from my phone. I have also joined in with a few challenges.

At this moment in time, I have £3000 in my savings account. The interest rate is rubbish btw. I used to be really good at finding the best accounts but my confidence in pretty much everything has been zapped due to me being in the wrong place at the wrong time a year ago and there being a very nasty 'man' ... I have referred myself for CBT. I was actually good this time as when I rang this time I waited until I spoke with a real, live person. Third time lucky n all!

My goals:
1. To find a better savings account.
2. To find 'quick tea' recipes. I am getting sooooo bored of whipping up the same meals!
3. Continue to declutter.

At the end of this month, I will analyse my spending diary to see where I can be a bit more savvy.

bobobski

Welcome and congratulations for starting your own savings diary!

£3k - easiest place is Tesco current account (3% up to £3k with no minimum pay in or direct debits required). You can have two of these. Similarly, TSB gives you 3% up to £1.5k and access to a 5% regular saver. Alternatively, the Nationwide FlexDirect will give you 5% for one year on £2.5k (and access to a 5% regular saver) - no direct debits but you need to pay in £1k per month (which you can immediately withdraw) and you could put the remaining £500 + new savings in Tesco. There are others but they get more fiddly with direct debits and minimum pay ins for lower interest (e.g. BOS Vantage) so if you're looking for an easy move to get you started I'd go for one of these.

CBT - good for you! I've never tried it but I have a friend with really bad anxiety who's using it and she's finding it very helpful. Well done for getting help - trust me, I know how hard that can be.

Spending less - oh yes, I'm with you here! I find regular trips to MSE.com and the forums keep me in the right mindset before I go out to the shops...

Good luck!

snozberry

Thank-you for your advice bobonski

snozberry

In the days when I was dirt poor, working part time and up to my eyeballs in debt, I:
* Had a second job
* Used to mystery shop
* Swagbucked
* Shop n scan
* Did a million and one surveys
* Eb@yed to my hearts content.
* Was on an opinions site for bup@

Now, I only shop n scan on a regular basis but I do eb@y and sell on fb occasionally.

I need to get into my old money savvy ways.

Carles_Diaz

Hello! I can't help you with anything related to bank accounts as I'm from Spain, but I can tell you a bit about spanish low cost living, which is a lifestyle more than half spaniards share.

I know your life is a bit advanced (you already have a kid), but you said you want to be a super saver, didn't you?

- We ride bike everywhere, even have public bike parkings (free bike boxes). Driving bikes saves few thousands a year. A good alternative is public transport.
- We love eating home, and look for the best deals when eating outside.
- We don't take loans. Only for house and car buying. We like to pay in cash a big part to avoid big loans.
- We buy second hand stuff, for everything, it saves you hundreds a year.
- We go to the most cheap supermarkets and buy white brands (that's why actually there are no expensive supermarkets in Spain and you can live with 800€ a month) White brands (or no-brand products) are your best friends.
- Want a new jacket? If you spend 20 euro, you will be saving a lot. It doesn't mean that it will be worse at all! Just no brand in sight, and your savings account grew a few teens.
- Cook. If you cook, it will be really cheap to eat. Rice, pasta, vegetables... are not expensive, but half prepared food is.

There is a very big etc, I think when it comes to be a super saver, you have to measure your spending in EVERY aspect of your life, not just those ones who you like less. If you don't drive a car and don't smoke, you will be a great saver, but if you 'need' too much things, it will be more difficult.

savingwannabe

Welcome to the thread. Yay to a new member. Blimey some excellent advice on here. Happy saving. We all learn from each other.:j

Ladykernow

Happy saving!

snozberry

Wow lots of comments and super helpful advice! Thank-you very much

I quite like the sound of Spanish living - could do with some of the lovely weather for a starter. It is so miserable outside! I do drive - I can't get the bus as my journey to work would be three times as long and I don't feel safe on them. I can lock my car door and be in complete control. Also, a full tank lasts a month and my car insurance is quite low.

I do the rest. We do, occasionally have take away, but very rarely and I can't remember the last time we ate out.

Goals for the week:
* As many NSDs as possible!

snozberry

Today is the last day of January and I have just calculated how much I have spent after my bills have been paid and, oh my word, it isn't great. In my defense, this is the first month in I don't know how long where I have tracked my personal spending ...

I have had 15 NSDs but I have spent £574.36. Wow! Just under £100 was emotional spending as January isn't the best of months but even still!!!! Needless to say, I need to so something about it.

I had no idea I had frittered *that* much away.

I am quite pleased with the NSDs though.

savingwannabe

Well done on NSDs. Well done on figuring it out.:beer: For years most of my spending was done on credit card and much of next month's pay packet was spoken for this reason. It was sobering when I saw how much cash I had left after my card payments had gone out as I cleared it every month. Now I am trying to discipline myself to £150 for fun and travel every month. Blooming hard but really good for moneysaving. Just think January is the hardest month as you are paying off Christmas it should get better.

jenberry

Hi Snozberry,

Sorry to hear about your struggles from last year, but well done for picking yourself up and getting CBT, very best of luck with it.

Have you heard of minimalism? There's currently a documentary on Netflix about it that inspired me to stop spending on anything but necessities. I got rid of 8 bags of clothes and clutter in October last year and have been really conscientious about my spending over the past few months. I keep a spending diary and write down every penny I spend which makes me more aware of when my spending is unnecessary. Also, there's a book out called 'One Pound Meals' on Amazon (which I think is currently a fiver). Might be worth a look if you want to expand your meal options cheaply.

Wishing you lots of luck with saving and looking forward to following your journey

Jen