January | Penny Pincher Challenge 22 December 2017 at 11:54PM in Debt-free wannabe challenges 121 replies 15.2K views

adventureofmemories

Welcome, Bookaholic It's so great to have you and good luck with everything :P

I need to:
* save preferablly for a new mattress (ours has gone moldy - we sweat so much ) , I need to * pay £444 back to my fiancee for the TV,Washing Machine,PS4 and curtains.
* Save £1,000 in Emergency Fund
* Save £200 for Help-to-buy ISA
* Save for wedding (once Emergency fund has been established)
* I do want to save for home items that we need (say we say one month we need to buy new lightbulbs / printer ink etc) , retirement , sinking fund - powershop, bills
* I don't want to live pay-to-pay anymore. I HATE it


What's your reasons for taking on the challenge?

Mumoffourkids

So today I have done the following
- checked bank - 1pt
- updated ynab - 1pt
- sold an unwanted toy storage unit - 1pt


My reasons for doing this is a) I want to pay off my debts asap and b) I need to be able to budget and keep on track with my spending money so I don't get stuck when paying off my debts.

iammumtoone

adventureofmemories wrote: »

What's your reasons for taking on the challenge?

I am doing this as I need to take stock of my fiances I am lucky to not be in debt but the down side to that is it makes you complacent.

I need to build up emergency savings and sort out some kind of pension payments (I am 45 so starting to worry about pension!). I also need to be prepared for a tax credit over payment next year, I had a large payrise this year and don't trust they have worked out the figures correctly so need to be prepared (if it doesn't happen then I will have extra savings )

keggsy

Hi There,

Would it be ok if I joined this challenge.

Now Xmas is over I’m focused on saving money so I can pay off a small car loan and a holiday booked in August.

So here are my 15 things....

1. Check bank account everyday
2. Do not buy any carrier bags
3. Save all £2 coins into a sealed pot.
4. Do not buy cups of tea!!
5. Take cash out and do not use the card!
6. Keep a spending diary
7. No amazon!!
8. Go through cupboards and freezers and make an inventory.
9. Meal plan and prioritise anything that I can use in the cupboards or freezers.
10. Start batch cooking and use the freezer more.
11. Open up separate accounts for Xmas and both my boys birthdays.
12. 3 no spend days a week
13. Declutter the loft and remove unwanted toys and donate to charity/ eBay.
14. Do not buy any more books
15. No takeaways in Jan!!

RhiBi

Hi, I've not posted on here for a long time but am back and determined to save money, so would love to join please. I’ll sort my list out ASAP xx

Bookaholic

I’m back with my list. I haven’t been overly Money savvy today because of the snow we’ve had overnight. I had planned to walk into town for milk but it was a little treacherous underfoot (on road and pavement) so popped to local shop where it is a little more expensive as branded (buy the double filtered type stuff as it doesn’t upset my OH who’s lactose intolerant)

My list for January
1. Have 3 NSDs each week
2. Don’t buy any toiletries - I have quite enough in the cupboard to use up!
3. Go to the library instead of buying books I want to read (on top of this read 5 books off my shelf)
4. Make a shopping list and stick to it.
5. Take lunch to work everyday (if I’m at home make something healthy)
6. Don’t buy anything on Etsy - this is one of my vices!
7. Don’t buy anything on Amazon
8. Always carry a shopping bag
9. Keep a diary of expenses
10. Add the equivalent of £1.50 minimum a day to sealed pot to save for Christmas 2018
11. No takeaways or ready meals
12. Meal plan for each week.
13. Go for a run or do a home work out each day
14. Complete surveys on Yougov
15. No buying fizzy pop or alcohol (will drink lime and soda if going out)

Bonus - Note 3 positive things each day!

adventureofmemories

Have a shopping list & stick to it , only shop when 3/5+ items - 1pt
His parents are over for a few days to spend NYE with us both and even though some things weren't on my shopping list, it was needed such as more milk & butter

Reused shopping bags - 1pt
(just waiting on receipt hog to upload today's receipt)

Pay with cash where possible - Used £20 to pay for shopping. Didn't have enough in bank - 1pt
(Will have to transfer £20 from Jan's shopping / wages into my own funds as it came from christmas money)

check accounts regulary - 1pt
Good job i did. something went weird with my bill transfers . all sorted now...hopefully

4 points today



Great list, bookaholic!
And welcome, keggsy & RhiBi

RhiBi

Here’s my list for January:)

1. Save all spare change
2. bring your own bottle to work
3. take your own lunch to work
4. meal plan
5. set a target for a specific amount of No Spend Days (3 per week)
6. Leave your card at home
7. Check bank accounts frequently
8. Cancel unused subscriptions
9. Avoid online shops such as Ebay
10. Create a shopping list & stick to it
11. Only go shopping when there is 3+ items on the list
12. Stop buying branded food
13. Give yourself a limit to spend
14. Create a budget
15. Use left overs / search for cheap meals
16. Use loyalty cards such as tesco and always put the pints on that card
17. Do a spend freeze on an item you spend a lot on
18. Use voucher codes
19. Reuse shopping bags

adventureofmemories

That's a great list!
Good luck for January!

What are you most looking forward to in January?

RhiBi

adventureofmemories wrote: »

That's a great list!
Good luck for January!

What are you most looking forward to in January?

Well it’s my 22nd wedding anniversary on the 25th and my birthday on the 27th, so looking forward to both those!

Other than that, getting my head down and reining in the spending!

Hope you’ve got things to look forward to too xx