2021 Frugal Living Challenge

Frugaldom

Everyone is welcome to join or rejoin so, WELCOME to our newcomers and WELCOME BACK to our regular frugalers. Let's see if we can make year 14 on MSE and extra special one for all concerned. Good luck, happy saving and here's to all things frugal in 2021.

scrimpandsave

Count me in frugaldom, don’t know how good
I will be but need a frugal year and you don’t know how successful it might be until you try. My main aim for the year was to do a really detailed budget, almost to the point of an audit! so I can find out where it all goes wrong. Thanks 😊 

welshspendthrift

I have been reading and following since Nov and want to try my best to be a frugalist in 2021 to pay off debt and live a more planet friendly life and be financially sorted for retirement. Will talk to OH over Christmas and will set a budget for 2021. Looking forward to the journey which no doubt will have some bumps and peaks and troughs along the way 😀

FrankieM

I'm back in for 2021....I've had my tax code changed for the rest of the tax year which means less coming into my account each month, on an already big drop in income so I'm looking to get mt my essential spending down as low as I can so that I can spend on the things that are important to me.
I'll be working on a budget of £500 a month, I don't intend to split it down particularly, just try to spend as little as possible and then sweep any left over money into an everyday savings account to cover gifts/car etc for the year.
Looking forward to being part of the challenge and the little community

mumtoomany

I'm back here for 2021. I started my budget for the year at the start of November, as on my signature, so will be carrying on and hopefully saving some money and a bit of the planet. Lovely to see all the familiar names and so many new ones. Here's to a better new year, mumtoomany.

KatyLovesCats

willow_loulou said:

KatyLovesCats said:

Hi, I’ve been a member here for many years under various names but very much a lurker and love reading everyone’s tips and what’s going on in their lives. I really, really need to re-haul my financial life next year. I’m currently on ESA and my daughter is 18 in May so I’ll lose a lot of the money I get for her and I honestly don’t know how I’m going to survive to be honest. I really want to get a job but I’m worried about whether I can cope with one with my health condition. Anyway, sorry for the long story, I’d really like to join this group and will work out a budget in the next couple of weeks for up to June. Will reassess month to month though as I simply won’t know what’s going on. Thank you all 

This was me a year ago, I was really stressed about it. So I gave myself a strict budget and paid off a large chunk of my debts including my loan 7 months early. That’s left me with some breathing space financially and I’m working Very part time (permitted work) as well as making a few bob on surveys. You will be okay, just really thrash out your budget and be mindful shopping. Good luck x 

Ah bless you, I really needed to read something like this. Thank you! x

Bluegreen143

Definitely in for next year 😁 will pop back on with my budget - I’ve set it with Red (my DH) and shared on the old thread but in case of any last minute tweaks I’ll post a final target after Christmas. Maybe I can talk Red into increasing the savings rate further 😉 

Absolutely love this challenge and slowly reading over the old ones, so inspired by the ethos of cutting back to live a more frugal, eco friendly and less wasteful life. 

In August 2021 my five year old DS starts school and my just turning two year old daughter will start nursery school most likely Jan 2022 - so this next 12 months I want to soak up my last year of having my littles at home with me all the time (DS goes to nursery part time at the moment). I want to cut back on stuff that doesn’t matter - junk food, social media/internet rabbit holes (while keeping up with inspiring stuff like MSE), wasting money trying to keep up with others, impulse shopping - so I can have the time, money and energy for the things that really do. And not to bother wasting money or time on things that don’t support our values.  

My priorities are family and friends (especially playing and doing projects with the kids), creative projects (sewing, knitting, gardening), reading, cooking/baking, looking after my body with good food/sleep/exercise. Oh and side project is learning to speak Gaelic (doing zoom classes through the local authority which are quite cheap, and using the free duolingo app). I think all that will keep me too busy to shop 😆

MazzieD

I'm definitely back in for 2021.

Finding out what I spent in 2020 in order to plan for the New Year has really helped to plan my budget

Priorities will be really working on cutting back grocery spends by getting YS meat, fruit and veg (I'm near to all major supermarkets, freezer shops and  the discounters so should be ok) and using Olio when I can.  Plans are afoot to start growing my own veg and really concentrating on using my time and money wisely.  

ldee2111

I really enjoy those blogs too @FrankieM , particularly the Frugalwoods - I’ve followed them since they lived back in Chicago and were on their journey to financial independence - I actually found reading about their journey to FI more interesting and exciting than when they finally achieved it. @Bluegreen143 I’m in my 30s too and wish I’d been aware of the idea of FI earlier but it’s never too late to start. 

For 2021 we will be be aiming to live on one wage. The anticipated job loss has arrived sooner than anticipated. Thought we might be ok until the start of the Summer but it’ll be Jan!

Anxious and scared but also weirdly feeling a bit hyped up and ready for it - maybe my fight / flight response has kicked in? 

Knew it was likely to happen and thankfully prepared for it by bulking up our emergency fund over the last few months which gives us a bit of security. EF is there to help out if one wage won’t stretch. But I really want to make this one wage thing work. It could have a hugely positive impact if we can do it. When we become a two-income household again we can get right back into paying off our mortgage early. 

Need to be in the frugal living challenge mindset more than ever. 

ldee2111

Another couple of financial independence motivational sources - theminimalists blog and check out Ytube for Dave Ramsey videos - I don’t agree with a lot of what he says but when it comes to personal finance I think he is spot on and so motivational. I think of him as a very, very, VERY extreme Martin Lewis.