2021 Frugal Living Challenge

KatyLovesCats

Good morning and Happy New Year. I have a bit of a problem. My yearly outgoings (as it stands) are higher than my incomings. I suspected they would be and there's also a lot of uncertainty with my money this year as well. I can certainly try and lower my energy & water DD's per month as I think they are set too high, I can cut down on my shopping per month (currently set at £140) I just need to be savvy with the food I already have and can reduce my 'extras' budget (which includes toiletries, cleaning products, clothes etc). When I think about it, I don't 'need' anything it's a case of want with me and this is where I've always fallen down. However, I'm no longer in a position to piddle about with money any longer so it's tough love for me now. I mentioned up-thread about that I had been offered a bank position job with the NHS, they are still doing all the bits and pieces they need to do behind the scenes so hopefully in a few weeks I can actually start doing a shift a week. That will help for sure. I'm locked into Sky and my broadband for another year and I've already tried to lower them and they're as low as they can go for now. In August my phone contract can be drastically lowered and can even sell the phone I have and get a lower priced one. As I also mentioned before, my DD turns 18 in May and the money I get for her will be gone (this is already factored into my calculations) I am not sure how long it rolls on for after she turns 18 or it just stops. I also have a bloody stupid Provident loan (I know!) that I could kick myself for taking out but it is what it is and it needs to be paid for. 

Sorry for the ramble, I just needed to get it all down. My calculations are as follows:

Incomings (as it stands) - £8088.72
Outgoings (as it stands) - £8665.72
Which equates to a deficit of £577.00
It's terrifying to look at (and think about) but I will work my behind off to get through it and hopefully very soon I'll be strong enough to come off ESA and earn more money to help me through this financial hell pit.

Nonnadiluca

Knowing you have a problem is the first step towards solving it, so you're already part of the way there. Good luck, I'm sure you'll come up with something!

KatyLovesCats

Nonnadiluca said:

Knowing you have a problem is the first step towards solving it, so you're already part of the way there. Good luck, I'm sure you'll come up with something!

Thank you any advice anyone can give as well would be much appreciated. 

YORKSHIRELASS

Hi all

Happy New Year.  So my shiny new budget becomes my guiding light today.  I have never managed to set a budget and stick to it, and I am almost 50, so this will be a huge challenge.  I think my budget is realistic though, it just requires me to rein in my unnecessary spending, and change my habits of buying stuff to make myself feel better.  I have set an amount aside for holidays though, which I feel is fairly important for us (holidays being camping trips, cooking for ourselves and having cheap days out).

The big worry at the moment is that DH is having a lot of back trouble, and he is self employed doing a job that is very physical.  Luckily I am the main earner, but we cant manage without DHs income for long.  I am hoping he can get an appointment with the chiropractor soon.

Nonnadiluca

Katy, have you tried Prolific Academic? I'd read about it a lot on these forums and signed up at the end of July and by yesterday I had earned just over £160 so am hoping for about £300 this year. DD signed up in September and has had over £80, so it's well worth doing if you have the time.

HelpNeeded15

Happy New Year to everyone, I would love to join this group. I have lurked about for many years using another user name.
I've set myself goals for the last couple of years and they have all materialized and I've been mega proud to have achieved them.
I promised myself and the kids we would manage to go on holiday, so along with my partner, we did this and surprised the kids in October 2019 which was a goal id set in the spring of 2019. my youngest had never been abroad and he was 7 my eldest hadn't been abroad since his first-holiday over 9 years ago.
My partner and i also bought a house in December 2019 and saved for a deposit.
Last year I was extremely proud of myself as I managed during the pandemic to clear my car finance of £4.5k as well as paying hp monthly.
My credit card my ex left me with of £2.5k 4 years ago, at the start of 2020 it had just over £900 left on it, I do not get any support from my ex for child maintenance as he avoids paying at all costs and now owes £14k for our children but hey that's another story.
However, I managed to do all of this by not buying unnecessary rubbish. 
Due to covid in Oct 2020 I lost my job, with the possibility looming during the first lockdown and on furlough, I started putting a sum of money aside and started buying Xmas gifts in august 2020 (just in case, and I am so glad I did).

So this year's more structured plan......
I found that my banking was a mess and a bit unorganized. So what I have done, is I have my main highstreet bank for money coming in and my personal bills going out as well as paying into a joint account for joint bills only. I have then opened an online savings app account and set up money-saving challenges such as round up to the nearest £1 and the reverse 1p challenge etc my savings pots are: for weekly Groceries allowance, weekly petrol allowance, kids clothes, etc, car maintenance, Holiday, Xmas 2021. And now a Baby pot as I am 6 weeks pregnant. I've had this account since December and it's already made a huge difference. combining the pots I have £254 saved already.
I'm hoping for a low spend in January, only buying what's needed. No takeaways, no clothes shopping more homemade meals, and using up the beauty products I've been bought for Xmas and really looking after myself.
We are a family on a low income combined of around £2500 a mth, we literally track every penny, pay all our bills first but the only difference this year is having this separate account for managing pots to be more structured moving forward. if i can carry on the low spend i will nut least my main pots that are for important things will be used appropriatly,

Happy new year everyone and looking forward to following everyone's progress,

HelpNeeded15

KatyLovesCats said:

Good morning and Happy New Year. I have a bit of a problem. My yearly outgoings (as it stands) are higher than my incomings. I suspected they would be and there's also a lot of uncertainty with my money this year as well. I can certainly try and lower my energy & water DD's per month as I think they are set too high, I can cut down on my shopping per month (currently set at £140) I just need to be savvy with the food I already have and can reduce my 'extras' budget (which includes toiletries, cleaning products, clothes etc). When I think about it, I don't 'need' anything it's a case of want with me and this is where I've always fallen down. However, I'm no longer in a position to piddle about with money any longer so it's tough love for me now. I mentioned up-thread about that I had been offered a bank position job with the NHS, they are still doing all the bits and pieces they need to do behind the scenes so hopefully in a few weeks I can actually start doing a shift a week. That will help for sure. I'm locked into Sky and my broadband for another year and I've already tried to lower them and they're as low as they can go for now. In August my phone contract can be drastically lowered and can even sell the phone I have and get a lower priced one. As I also mentioned before, my DD turns 18 in May and the money I get for her will be gone (this is already factored into my calculations) I am not sure how long it rolls on for after she turns 18 or it just stops. I also have a bloody stupid Provident loan (I know!) that I could kick myself for taking out but it is what it is and it needs to be paid for. 

Sorry for the ramble, I just needed to get it all down. My calculations are as follows:

Incomings (as it stands) - £8088.72
Outgoings (as it stands) - £8665.72
Which equates to a deficit of £577.00
It's terrifying to look at (and think about) but I will work my behind off to get through it and hopefully very soon I'll be strong enough to come off ESA and earn more money to help me through this financial hell pit.

Hi Katy, I couldn't read your post without replying. Maybe this is something your thinking about? Is their anyway your provident loan can be negotiated? or any other debts if you have any and go through citizens advise for to them to negotiate payment back? i did this and yes it did hurt my credit scoring but I have managed to pay it off over 4 years and now my credit is being built back up. It looks like you are in a bit of a predicament. Maybe if you can get a loan/credit card that has less APR maybe look into paying it off and paying the new loan/credit card. 
Best of luck hun trying to sort it out, the main thing is you've made a start by looking at it next is having a plan xx

MazzieD

Happy New Year everyone.

This morning I have been reflecting on 2020, what went well and what didn't and any changes I want to make for 2021.  Despite Covid and everything else it wasn't a bad or terrible year for me and I've been quietly patting myself on the back for all the  successes and achievements however small.  It seems to be more a case of postponing quite a lot of plans for the moment. Think being adaptable/flexible is the key until we reach whatever the final version of 'normal' is.  Probably different to what we have been used to 

Not setting any major plans or goals as there is still so much uncertainty. I just want to concentrate on being happy and healthy and to really concentrate my efforts on being frugal.  It's so nice to be amongst a community of like minded people and I'm sure it's really going to help being on this challenge.

2Scratters

MazzieD I absolutely resonate with your statement. I am quite happy with our situation, albeit DH should be shielding again, but is self employed. I certainly consider ourselves fortunate ( I am very grateful). Saved a pot for our funerals, not that we are ready for going anywhere shortly God willing. Have managed to keep savings in place, some work needs doing on the house roof which cant be completed till end of Feb!! Our fuel suppliers have each been taken over(separate suppliers) this year by the larger companies. I certainly wont be staying with the Gas supplier that has taken over. Just need to get a wobble on about more home cooking going on. No annual budget from me just doing monthly. 

lilly81

Hiya
I would like to join this challenge for 2021.
Today I have collected some free food from OLIO. 
I've made a list of what food I have in the freezer and what shelf it's on.
I've checked my energy supplier and I'm already on the cheapest one.
Tonight I'm doing my meal and writing a shopping list for tomorrow