Making savings before it's too late

hunters

suki1964 wrote: »

I use it as it’s quicker. Just touch and go. Seriously instantaneous, esp in lidl where their pin machines take ages

I use my phone now for everything and as said by someone further up I get cash back for every use of a contactless card along (Just had £43 added for the past few months use of contactless) with cash back for paying a supermarket. £600 plus in the last couple of years is not to be sniffed at, this includes 2% on my monthly direct debits. I check my bank app every morning and never any problems with fraud but each to their own, I love using my phone and the Tesco app where they scan a code allows you over the £30 limit and adds your Tesco club card points.

PipneyJane

tboo wrote: »

Thanks Kittie.

My sister has for the past 2 years used the cash purse technique – styled from the moneysaving goddess that is JackieO.

I tried for a couple of months but failed.

I couldn't seem to make it work as I’m paid in the middle of the month and my dds are set for the beginning – I have no chance in changing them so it’s quite bothersome working out the budget.

I can trial it again for February and see if it works this year especially knowing my sister swears by it – she has money left over and her hubby is a convert too

This brings back memories. I have a solution for you: you need a "Bills Account". You know how much your DD's are each month don't you? On payday, have a standing order to transfer that amount plus a £50 buffer to your Bills Account. Anything that is left over in your "operating account" is yours to spend.


The Bills Account is a separate cheque account that is only used for direct debits/standing orders and can only be accessed electronically (it doesn't have a cheque book or a debit card). When I set mine up, I did it "in branch" and watched them move all the DD's over. What it did was quarantine all my regular payments into one place, away from my "operating account". That way, the money couldn't be spent on other things. (Remember, bank balances lie.)


These days, our joint account is the Bills Account and, FWIW, we also have half a dozen joint savings accounts for things like holidays, garden supplies, etc. These too are quarantined. On top of that, we've both got a couple of quarantined savings accounts for things that are important to us but aren't joint expenses (e.g. my "petrol accrual account" where I set aside the money I'll spend on diesel each month. Again, if it's not in my operating account, I can't spend it). All are accessed online/via the bank's app.


We take grocery money out in cash once a month and keep it in a separate purse.


HTH.

- Pip

mardatha

We use only cash apart from a very few DDs - but I have told the husband to do this bills account thing if I die. He isn't computer savvy at all and won't be able to do online banking, so I told him to go into the branch and find a nice lady to sort it all for him

blackcatsx2

I remember in my Saturday job in BHS way back in very early 80’s that it was quite a palaver to do a credit card transaction when working on the till. There was a small multi layered docket that you wrote the amount on and then pulled this through a machine which printed the store name etc on it. Then the customer signed the docket. One copy to the customer, one to the till and one into the credit card slips box. A million miles from contactless ! I was distraught once when I forgot to get the customer to sign the docket. Still feel bad thinking about that mistake even now nearly 40 years later!

mardatha

I can remember that too, I worked in a shop then Right palaver!

tboo

suki1964 wrote: »

I changed my menus to fit around Lidl without really realising it, esp their £2 meat and fish offers.

Our Lidl (NI) , because they support NI farmers, don't really have a lot of choice when it comes to meat and veg so I just have to roll with it and learn to cook things differently. Pork pieces for example , wouldn't have been on my radar back in London, but they are ideal for Chinese cooking, same as belly of pork.

I still use Tesco for cat food ( Tescos is the only one he will eat) soap powder and head and shoulders for example, but the majority of my shopping is from lidl. Last weekend my shop was under £11 there, the week before £35, the week before that £17 with around another £20 in Tesco so far this month

Thanks
I am duly amending the menu plan and aim to try this weekend,. I shall keep a close eye out on therir range as it may have changed

suki1964 wrote: »

Banks are very hot on fraud. One card I have, Dankse Bank, won't allow two transactions in the same store on the same day. So if I shop and pay for my shopping using that card, then decide I want a packet of fags from the ciggie counter ( I've stopped now ) the card won't Work

Oh Thanks
I didn't realise there was a limit in contactless transaction
My foil pocket has arrived and I am trying to give the surplus to the family that also have these cards

moneyistooshorttomention wrote: »

When my bank needed to give me an updated debit card - they duly sent me a contactless version. I duly rang them and told them it was about to be cut up by me - and could they please send me a standard type replacement debit card.

I did duly cut up the new contactless one and duly received a new standard one from them.

Though (for anyone who doesnt want to do that) I believe one can "disable" the contactless part by cutting into a strip around the outside of the card. It "breaks the circuit" or something.

Thanks
I shall do this if and when they send me the new one

tboo

tori.k wrote: »

Have you given thought to an asda home delivery or click and collect to avoid the temptation of the extra deals. Mardatha is having great success with her delivery.

Thanks for the suggestion but I prefer to 'see' and ''touch' if you see what I mean:)

tboo

PipneyJane wrote: »

This brings back memories. I have a solution for you: you need a "Bills Account". You know how much your DD's are each month don't you? On payday, have a standing order to transfer that amount plus a £50 buffer to your Bills Account. Anything that is left over in your "operating account" is yours to spend.


The Bills Account is a separate cheque account that is only used for direct debits/standing orders and can only be accessed electronically (it doesn't have a cheque book or a debit card). When I set mine up, I did it "in branch" and watched them move all the DD's over. What it did was quarantine all my regular payments into one place, away from my "operating account". That way, the money couldn't be spent on other things. (Remember, bank balances lie.)


These days, our joint account is the Bills Account and, FWIW, we also have half a dozen joint savings accounts for things like holidays, garden supplies, etc. These too are quarantined. On top of that, we've both got a couple of quarantined savings accounts for things that are important to us but aren't joint expenses (e.g. my "petrol accrual account" where I set aside the money I'll spend on diesel each month. Again, if it's not in my operating account, I can't spend it). All are accessed online/via the bank's app.


We take grocery money out in cash once a month and keep it in a separate purse.


HTH.

- Pip

Thanks
I shall look at this method in more detail as I'm dumb when it comes to finances.
I do have 2 accounts so it may not be impossible to adapt

tori.k

Im another that was glad to see the back of the credit card imprinters, I like chip& pin I remember the first trip I did to the US not being amused with contactless that DH used my credit card the whole trip and not once did anybody look at the card or remark that it was odd a chap was called Victoria, oddly we introduced contactless and the US moved to chip&pin for security. Mine is contactless but I always use chip& pin I also have one of those Faraday cage card wallets and DH has a scan jam in his wallet.
Was lovely to drive home from work in the daylight today, evening are pulling out, hard to believe we are almost done with January

suki1964

Tori, I just slip my card in my jeans pocket :eek: