2020 Frugal Living Challenge

Nargleblast

I have found herbs in pots in the fruit and veg section of the supermarket, costing about £1.75 for a healthy small plant. I have bought a potted mint and four potted rosemary plants, which are all now growing well in the garden. There is a saying that if you have a thriving rosemary plant in your garden it means the woman is boss of the house.

Frugaldom

@nonnadiluca that is brilliant, well done! 👍

@willow_loulou my original rosemary bush was grown from a yellow sticker pack of sprigs that had been reduced to 10p quite some years ago. 😊 It's quite easy to grow from cuttings just stuck into pots and left to root. Likewise with most of the herbs - a sprig will root in a pot or even a jar of water. 

willow_loulou

Thanks both, will get a plant or sprigs when I pop to a shop 😁 

Bluegreen143

Have finished knitting mittens for my daughter and am now knitting a hat for my son. Determined to use up the stash rather than spend on shop bought versions! I’ve never knitted gloves with fingers but am tempted to try for my son...

Also been thinking - I want to repaint our hall and stairwell soon - it’s not been done since we moved in over five years ago and as it’s a light colour, it looks absolutely filthy and covered in marks. I wasn’t sure if we would need to hire a professional to get high up, but having googled it looks as if I may be able to do it myself with a proper edging tool. Won’t do it til next month as haven’t budgeted for the paint this month. But might be nice to get it all freshened up before Christmas. 

Bought a £1.99 pom pom maker thing at Lidl the other day. Mainly for making pom poms for the kids’ hats. But it’s occurred to me that I could make red and green (or maybe white) pom poms to use as hanging Christmas decorations which I think would be lovely both on the tree or I could use them to make a sort of bunting. I don’t have enough red and green yarn in but I’d just be using standard cheap acrylic which I could probably get from the £1 shop or similar. The kids and I have decided to make salt dough decorations and handprints for grandparent gifts this year so I’m going to make some for our own tree too 🙂

amber03

Patentgirl, you are doing exactly what I have done re retirement. Since last year I managed to sort out finances and the house with a view to retire this Xmas even tho I am 57, OH retired last Xmas. Anyway earlier this year I got fed up with all the politics at work and the management and handed in my notice and finished in June. Due to Covid has been a little bit different than I expected but loving it. Yes not had the same money to spend but also not wasting money. Picked up loads of ideas on this site that has helped as well. If in time I decide I would like a little job then I am lucky in that I can chose what I want to do.

patentgirl

Thanks @amber03 for sharing I am sure we will be fine hopefully Dh will be able to follow shortly but as you said can't see will be spending as much just feel better already knowing I have done it eventually.  We have been saving for this for years so know we have savings to dip in if needed.

willow_loulou

Well I had an unexpected expense with a sudden need for new glasses. But having been very mindful I’ve made it to my next pay day (Friday)  with 27p to spare! Blimey. I have to say I was a bit worried I may have to go over drawn before then! But I’ve nothing to pay for so I can relax. Phew. 

Need to try and build up a little reserve of £75 - £100 again as I think it’s too easy to use my CC and just add to the debt on it. I know it makes sense to pay as much off it as I can but if I need to use it and work suffers I’ll have nothing to buffer with. 

I’m tired. Being back at work is exhausting. I’d hoped to crack on with things but I will just need to pace myself 

CraftyLittleLisa

A little update from me today.  Christmas preparations are well underway.  I have made one Christmas present out of left over fabrics for my niece.  I made her some dolls clothes.  I am now knitting some bedsocks out of left over wool for another Christmas present.  I'm really pleased with how they are all coming together.  I have also made some Christmas cards out of card and more left over wool.  I'm rather pleased with how they have turned out as well considering I am not an artist by any stretch of the imagination.

Another couple of successes recently was I got a voucher for free admission into a local attraction.  I've booked a trip there for myself, my sister and her two boys for Saturday and I am really looking forward to it.  Everything is included all we have to do is take a packed lunch.  The other success was I got a £50.00 voucher for a shop of my choosing for doing surveys.  I have got John Lewis vouchers which I will put towards a new laptop which I am going to have to get before too much longer.  This one is on its way out although I'm keeping it going for as long as I can.

I did review my expenditure and budget last night to see where I was and I was pleasantly surprised in that I should hit target this month, I just need to be very disciplined with myself.  I'm allowed to spend money on Christmas presents as I have a budget for that but that is it.  I should be quite able to do that.

Bluegreen143

Well done on all the crafting @CraftyLittleLisa - sounds like you are doing amazing. I need to start organising Christmas. I’ve picked up the odd stocking filler/book for the kids from the charity shop as I’ve seen them but really need to start making things! I was going to make my own Christmas cards this week (have never done card making before but it looks fun) but I found I have a few bought cards left from last year so it’s more financially sensible to use those instead of buying supplies to make my own.

Bluegreen143

Have been considering how an annual budget may work.

I’d love to get to a 20% savings rate and live on the other 80% but I think it may be just out of reach...

Here’s some calculations I’ve done. These are minimum savings rates based on the lowest income I can expect - if Red works overtime etc or I can pick up ways to make extra money I could save more. I’ve not included the money that Red keeps in his account in the calculations at all - just worked with what I actually receive.

POST-TAX INCOME 
Minimum monthly income from Red & UC - £1,750 - £21,000 annually

Child benefit £140 every four weeks - I put this straight into my Christmas/birthdays/occasions savings pot. I think I’m going to skim 20% off this to add to my annual/irregular expenses pot just for any misc things that come up.

ANNUAL BUDGET 

BILLS (housing, car bills, utilities/internet, insurances, school fund etc) £10,800

PROJECTION OF DIFFERENT SAVINGS RATES

20% savings £4,200 - £6k to live off (£115 p/w)

17% savings £3,600 - £6,600 to live off (£125 p/w)

14% savings £3,000 - £7,200 to live off (£135 p/w)

10% savings £2,100 - £8,100 to live off (£155 p/w)

So I think beforehand I wasn’t even achieving 10% (in fact until this year we were spending all we earned), the last four months I’ve been able to reach roughly £250 savings a month which is the same amount as the 14% level (but that was with the help of additional income not just our basic). I think the level of frugality required to keep a family of four on £115 a week (for housekeeping expenses and fun spending) would just be a touch too far at least for us. Unless I can wangle more money from Red or earn more myself I think I would be setting myself up for failure. But if I could aim for the 17% savings rate & a spending allowance of £125 a week I think that could be doable with plenty of creativity, especially as it doesn’t include gifts or special occasion spending. And if I earn any extra I could split that 50/50 between wants and bolstering our savings. 

As a rough guide I was thinking of splitting our £125 a week into £100 housekeeping expenses (food, household supplies, petrol, other misc) and £25 wants/fun & clothes.

Do you think I’m on the right track with creating an annual budget this way? I’m really inspired to make 2021 a year of squirrelling a lot away as I’m so pleased how we have gotten on turning things around since July. My main motivation is to prove we can afford for me to continue as a stay at home mum or at least working part time when the kids are at primary school. I’d love to have a third child too and part of my husband’s objection is worry we can’t afford it... whereas I think if we are socking 15-20% of our income into savings each month it proves we can afford it, albeit by living frugally. But my aim is for us to continue to live frugally but not consider this a life of austerity, but rather be grateful we have the time and space to embrace what really matters to us. Time spent outdoors, gardening or walking. Time spent together and with our children, playing games, reading to them etc. Time to pursue our own creative (and hopefully money saving) hobbies. Time to build a cosy haven in our home. That’s the theory! Or perhaps after a year of mega saving we will all be going crazy 😜