2020 Frugal Living Challenge

Van_Girl

Hello

I may end up being a lurker, or occasional poster but I'm going to follow the challenge for inspiration. Having to get back on the horse after being debt free for several years then finding myself having to borrow to make essential renovations to the house, plus other spending which I probably could have not done.

Feeling a bit disheartened really, but hopefully I can borrow some good vibes and motivation from here!

NOLANell

Hi!

In 2020 I would like to make a large dent in clearing my debt as well as build up my savings in my LISA. I set it up in April of this year and am pleased to say I have four digits in front of the decimal point which is great.

I’m joining to hold myself accountable and hopefully get some actual results in 2020 rather than just fall flat around March (or even the end of January!).

I’m not quite comfortable talking numbers yet but by this time next year I would like to:

- Have cleared Credit Card 1 (CC1)
- Halfway clear on Credit Card 2 (CC2)
- Have cleared a couple of ‘get me by’ little loans (LL1 and LL2)
- Have made extra payments on my bigger loan for consolidation/my wedding in 2017 (BL)
- Have a least doubled my LISA balance.

I have a standing order that comes out of my bank account the day I’m paid each month for my LISA and I have direct debits for the loans. I pay my credit cards each month myself as my jobs mean my rate of pay can vary so I can pay differing amounts off each month.

In addition to this I am also hoping to do (and stick to) the ‘Penny a Day’ Challenge (save 1p 01/01/20, 2p 02/01/20 and so on) and the £1 a week challenge (save £1 01/01/20, £2 08/01/20 and so on). I have attempted these before but never really stuck to them.

I think I have really struggled before as I have thought of buying a house as this ethereal dream that will somehow just happen and it is starting to dawn on me that’s not the case. I’m really hoping this time next year I won’t be thinking about buying a house with panic and a racing pulse and I’ll have done those things above!

I’m looking forward to cheering everyone on with their goals too.

DawnW

Hello,
I will be following along again in 2020
I am retired, live with my husband and we have no debt or mortgage costs now :T Getting debt and mortgage free enabled us to retire early, so don't give up if that is your aim, because it is possible We live very well in a no waste, make do and mend, grow our own vegetables sort of way. I was looking at my 2019 spreadsheet earlier, and noticed that we will be a bit over budget (though not much) for the year, but that is accounted for by having given to charity and helped out younger family members, which I don't regret one bit!
I will set up the new budgets in good time for the New Year, and look forward to reading along and hearing everyone's news.

Someone asked about growing herbs earlier -I recommend buying perennial herbs (sage, tarragon, rosemary, thyme, bay etc) from a good nursery or garden centre, as they are far more likely to survive than supermarket ones. Do check out your local freecycle first though as they are offered free from time to time - I divide my mint every year for example, and give away lots of bits of root, and also things like strawberry plants, which grow like weeds and are happy in containers. Annuals such as basil and dill etc are easy to grow from seed - start them off on your windowsill in the spring.

Annies_too

Joining forum for first time. Living on a basic pension, I'm always looking for ways to be more frugal. I have no debts but I need establish a small emergency fund and save for a holiday.

HellyJellyBelly

Please count me in. Really need to stop wasting money. I already have a reasonable handle on managing bills but need to focus on being more frugal with the remaining areas of my life. Looking forward to the Challenge.

cersei11

Hello everyone

I would like to join the challenge for 2020. I am recently divorced so now have to pay all the bills on my own. I live with my 18 year old son who is at university but lives at home. I would like to retire in 4 years so my goal is to try and save 40k in that time. I started matched betting this year and make roughly £10 a day so try and use this money for food and going out to enable me to save as much as possible.

I have had too many holidays this year so plan to cut this to 2 year and try and save the rest.

Good luck to everyone!

Cazdaz

Hi. Really enjoyed reading 2019 posts. I'd like to start after Xmas. Need to start saving and add to clearing debts before retirement. May not post much but will read xx

EcoRichieD

Hi, I’m new here and up for the challenge, I’ve always avoided debt where possible, and think I already live fairly frugally, but we all have something to learn, so advance thanks to all posters for their wisdom.:T

IvysMom

Please may I join? My goals for 2020 is to pay off all debts (except the mortgage) and to build up my emergency fund to at least £1000.

mellb

I'd like to join please I want to pay off my credit card, build up some savings and pay for the few holidays we have planned without it getting rid of all my savings every time. We mostly spend too much on food - buying more in than we can get through, buying lunches for work every day and ordering pizza way too often! I also want to lose weight so they'll help each other