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Sealed Pot Challenge!!

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Comments

  • teeni
    teeni Posts: 1,193 Forumite
    albertross wrote: »
    Suppose it depends on how committed you are to dealing with your debts. Instead of breaking into another pound/note to spend, you just use the coppers instead and therefore have more money to use to throw at debts.

    This is the DFW board, so presume the members want to get rid of their debt as fast as possible, which is why this idea (and other savings challenges) seems strange to me, it doesn't fit in with snowballing. (e.g. you have £700 saved towards a holiday, when that could be used to pay off your overdraft now, saving you interest and charges).
    true but when i pay off my overdraft i will get rid of it al together so that it can not be used again. IF I use my holiday money for that i wont have any thing for a holiday.

    I do appreciate what you are saying but I know for me it would not work. IF i paid off the overdraft i would use it again if i didn't cancel it and them i would be back to square one, and as all but one of my children live in other parts of the world, including my 16 year old son, it is important that i budget for to be able to see them regularly. By having these saving schemes I get the best of both worlds.
  • lilmissmup
    lilmissmup Posts: 6,884 Forumite
    If you don't like the idea of the challenge then why read the thread? :confused:
    Now a SAHM trying to earn some spare pennies each month
  • skint_spice
    skint_spice Posts: 13,481 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Hi Mumzyof2,

    I just realised I was aimless! so I'll aim for £200 if that's ok, anymore will be a bonus (though I don't think that'll happen). Off to feed the thing now!
    Mortgage OP 2025 £6750/7000
    Mortgage OP 2024 £7700/7000

    Mortgage balance: £35,463

    Declutter 16/244

    Money making challenge £58/400

    ”Do what others won’t early in life so you can do what others can’t later in life” (stolen from Gally Girl)
  • mumzyof2
    mumzyof2 Posts: 3,343 Forumite
    updated!!!!!!!!
    Sealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07
    Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.32
  • mumzyof2
    mumzyof2 Posts: 3,343 Forumite
    lilmissmup wrote: »
    If you don't like the idea of the challenge then why read the thread? :confused:

    LOL at you! Get in there! No messing straight to the point!
    Sealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07
    Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.32
  • teeni
    teeni Posts: 1,193 Forumite
    hi mumzyof2

    I have realised I was aimless as well, have set a figure of £600 when you are updating please.

    teeni
  • lilmissmup
    lilmissmup Posts: 6,884 Forumite
    I do put money in savings too but i can't be going to the bank with every penny i have....

    Its more of a morale thing, its more fun with people all doing it together, think it encourages some people that might not be so good at saving otherwise.

    Anyway i got another 2 £2 coins today that have gone in :)
    Now a SAHM trying to earn some spare pennies each month
  • lilmissmup
    lilmissmup Posts: 6,884 Forumite
    mumzyof2 wrote: »
    LOL at you! Get in there! No messing straight to the point!

    :rotfl:

    Its the Vodka talking!
    Now a SAHM trying to earn some spare pennies each month
  • cookie_monster
    cookie_monster Posts: 2,116 Forumite
    Hey I can't see my name on the list......Can I get a number please?
    I hate migraines.
  • mumzyof2
    mumzyof2 Posts: 3,343 Forumite
    I wouldnt go to the bank and put pennys in here and there, and i think without this challenge i wouldnt save either
    Sealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07
    Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.32
This discussion has been closed.
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