Spending Less in 2018 Diary

NorthernMonkey1

Hello all

I'm normally found hanging around in the Mortgage Free Wanabe board, but now I have no mortgage, I've decided to camp out somewhere else. I've decided I spend too much money on rubbish, too much money on tasteless fatty food at the work canteen, and too much money on fuel

So for 2018, I've decided I'm going to limit my spending to £80 per week. That might not sound much of a challenge BUT... (there is always a but) I have to drive from Northumberland to Manchester once a week for work, which uses about £40 in fuel. The cost of all my fuel is included in this, so really, I've got about £40 to work with.

This excludes any direct debit bills, including gas and electric, council tax (no mortgage anymore) phone and internet, but includes anything else.

The ultimate aim of this is to try and squirrel away £15k this year, or £1250 a month, which I'll direct towards a stocks and shares ISA.

Mrs_Salad_Dodger

Good luck, NorthernMonkey1.

I am in the fortunate position that I have savings so I won’t be joining you - although I do keep a pen & paper record of all my expenditure & check banking/cc statements immediately.

It is such a good idea though so I hope plenty of other posters are able to join you.

Positive vibes to your success!

Mrs SD��

Mrs_Salad_Dodger

?? Should be a smiley face!

Pollycat

It sounds like your £40 pw has to cover food.

How many in your family?
How much do you currently spend on food & entertainment and is a £40 per week budget do-able?

It's fine setting a budget but if it means cutting down so much that your life has no pleasure left, that £1250 per month you're putting away will maybe begin to grate.

SamsReturn

I ask for a receipt for everything i buy, no matter low little, and a keep a spreadsheet over the year.
Along the top are the 12mths. Then down the side are the same individul shops that you use over and over again.
It's interesting to compare, year-on-year.