2019 Frugal Living Challenge

Dave_Saver

I plan on saving £13000 from my wages next year, now that my debts are gone I really think I can do that.

If I maintain that for 12 years that's £156,000. If only I had seen you first mortgage free post 12 all those years ago

grandma247

Frugaldom wrote: »

If anyone has successfully cleared all their debts but still living the frugal lifestyle saving what they don't spend - how much could you have in the next 12 years?

We are still living frugally after paying off our mortgage and debts. We have had a few earth shattering life events since then and because of the way the system doesn't work now we are supporting two of our kids who both have large families. One has a bouncing set amount that is given one week to get them to the end of the month then it comes back to us but the other is a single parent now and needs our help without paying back. We generally buy food and other necessities so they can manage the other expenses. I am always on the lookout for special offers or reduced items for them. All this means our savings are slow at growing but because of what I learned here we are able to put some money away each week even on a pension.

I haven't joined the challenge for a long time but I read daily. Frugality is now our way of life. We still enjoy life .

Frugaldom

Great to hear from you again, Grandma247! �� I'm glad your frugal ways have stuck with you over the years and it is great that you are in the position of being able to help family during a crisis. Hopefully, one day, they will find their route to financial freedom and learn those same valuable lessons of frugal living.

Dave Saver, it is an interesting fact that some of the richest people I know follow quite simple and frugal lifestyles in order to enjoy luxuries and sleep at night. On the flipside, some, in my opinion, have it completely topsyturvy; despite their apparent opulance and high flying lifestyles, the latter are just treading water in the hope they can keep up all the payments, as they actually OWN very little. You are doing a fantastic job and you obviously are highly motivated in a successful career. Have you got life ambitions you'd like to fulfil? (Mine has always been to have a bit land to enjoy and sufficient passive income to live happily)

lessonlearned

You are right Frugaldom,some of the wealthiest people do lead surprisingly modest lives. And often those who flash the cash actually have few assets, many of them are also very much in debt. I think there might be a lesson there......:rotfl:

I'm not wealthy by any means but I'm now thankfully debt free. I try to live simply but well, cutting back in some areas so I can splurge a little on things that I value or give me pleasure.

Well I'm doing ok. Managed to overpay the mortgage by £200, using what I had saved on the car insurance. Also saved £69 on paint yesterday by taking advantage of B&Qs 3 for 2 offer. Have managed quite a few no spend days. Reduced the grocery budget quite a bit but there's still room for improvement.

All in all pretty pleased with this months progress.

nannygladys

Hi Frugal,
I seem to have fallen off the wagon, not big time but perhaps lost the way a little, so from NOW Ive got back onto it and will get my head around it.
I still recycle, reuse and grow some food and mend clothes but I need to stop spending on silly little purchases that add up! (and its mainly on other people!) and watch how much 'things' cost, so my present to myself to start again is - recycling an old notebook for a new spending diary and writing down what food, clothes etc I have got so I don't go out and buy unnecessary things. Meal planning, once a week shopping and getting back to what I enjoyed doing - being frugal!!!
Nannyg

Crafty_Lisa_Hampshire

Hello all, its been a while since I have come on here. I have now caught up and can give an update. I have just been paid and I hadn't overspent. I was really chuffed with that. I haven't had many no spend days but the bits I do spend are not vast just for things like medicines and bread and boring things like that so I have decided not to bother counting the no spend days from now on. The next big expense to think about is Christmas. I don't buy for lots of people but I am trying to be a bit more "sustainable" in my choices this year. I have bought books, made a dress, and booked evening classes so far as gifts. I'm about half way through. I'm not doing Christmas cards this year and I have made gift bags and felt labels for the presents. I want to try and make myself a nice top or something, for any parties that I may be invited to, from my stash of fabrics I have and I think that will be Christmas sorted. I have managed to save £500.00 since July which hasn't happened for a very long time and that is down to getting the motivation and tips from this challenge that has helped me achieve this. I'm lucky in that I am debt free but I have never had the spare cash for holidays and fun things. I have now proved to myself that I can have a decent holiday (without breaking the bank) and put some savings away so thank you all.


It has been a real revelation to me that being frugal is also being eco-conscious and vice versa. I will personally be continuing on this journey for as long as I live.

PipneyJane

Frugaldom, I just wanted to say “Thank You” for running these challenges. I don’t post often, but I do read everyone’s posts and cheer from the sidelines.

Crafty_Lisa_Hampshire wrote: »

Hello all, its been a while since I have come on here. I have now caught up and can give an update. I have just been paid and I hadn't overspent. I was really chuffed with that. I haven't had many no spend days but the bits I do spend are not vast just for things like medicines and bread and boring things like that so I have decided not to bother counting the no spend days from now on. The next big expense to think about is Christmas. I don't buy for lots of people but I am trying to be a bit more "sustainable" in my choices this year. I have bought books, made a dress, and booked evening classes so far as gifts. I'm about half way through. I'm not doing Christmas cards this year and I have made gift bags and felt labels for the presents. I want to try and make myself a nice top or something, for any parties that I may be invited to, from my stash of fabrics I have and I think that will be Christmas sorted. I have managed to save £500.00 since July which hasn't happened for a very long time and that is down to getting the motivation and tips from this challenge that has helped me achieve this. I'm lucky in that I am debt free but I have never had the spare cash for holidays and fun things. I have now proved to myself that I can have a decent holiday (without breaking the bank) and put some savings away so thank you all.


It has been a real revelation to me that being frugal is also being eco-conscious and vice versa. I will personally be continuing on this journey for as long as I live.

Well said, Lisa. Lately, I’ve been thinking a lot about the philosophy of frugality and I’ve decided that it isn’t about not spending money or being a miser. It’s about setting money aside for the important things and ensuring that you get the best value out of what you have left to live on. Squeeze the pennies so hard that they squeak, but make sure you’re getting the best out of life while you do so. Set money aside towards that dream holiday, but also put something aside for the inevitable car repairs.

Tomorrow is payday and, tonight, I have £1.13 left in my personal bank account (aka my “Money To Live Off”). That’s not the only money I have in the bank but everything else is quarantined into separate savings pots so “not mine”. All the bills are paid for October and November’s will be covered by my salary, including topping up all those separate savings pots towards their intended goals, and that makes me feel very contented.

- Pip

BailsHE

Morning! I’m late to the party as usual 😂

I have no clue who’s in here these days (it’s been a LONG time!) but Nyk at least will know me as Bails.

I’m just feeling my way back in to MSE - I was looking for the Grocery Challenge, does that still exist? - and stumbled across this challenge so thought I’d say Hi 👋

nannygladys

Hi everyone
Well yesterday was a small spend day that was necessary. The recycling was sorted out and some bits went to the CS shop. I have stopped buying bits of 'tat' but still have a bit about the house, so I have been sorting what bits are important to me and giving the rest away for someone else to enjoy. Making butternut squash soup today as I grew a few on my lottie and they are massive!!!! nothing else planned so may do some sewing oh and weekly shopping.
Nannyg

cw18

BailsHE wrote: »

Morning! I’m late to the party as usual 😂

I have no clue who’s in here these days (it’s been a LONG time!) but Nyk at least will know me as Bails.

I’m just feeling my way back in to MSE - I was looking for the Grocery Challenge, does that still exist? - and stumbled across this challenge so thought I’d say Hi 👋

Welcome back.


November Grocery Challenge is here
https://forums.moneysavingexpert.com/discussion/6060377/november-2019-grocery-challenge