2021 Frugal Living Challenge

Shopaholic_no_more

@AskYouWillGet ooh sounds interesting...gonna check this out thanks!

@pregnancy_parking thanks for the recommendations 😊
I also didn’t know Frugaldom had a website...will check this out too!

@wort I totally get what you’re saying. Here’s the thing we have two cats at present...one is from my former home and the other is from his....in the past I have never had an issue with wasted food because I used to feed my cats and if it didn’t get eaten straight away they never got anymore until it was....however, DOH thinks she’s (his cat)  going to die of starvation if there isn’t a constant stream of food for her and over the years she has got used to this, sadly. She also is a bit of a diva where he is concerned 😂....how cats play us totally amuses me! I think he kind of feels responsible for her because she came with him even though I would be quite happy to feed her the same way I feed mine....I will definitely mention the feeding times to him and go from there. Thanks 

@ldee2111 Now this is very interesting! I have wondered if I could do this in the past... have multiple accounts...do all banks do this? Can I set them up online do you think? And you have separate instant access accounts for each one? I truly love this idea and think this will help me enormously as I will be able to see exactly what I have each time in each account. 
Thankyou so much for telling me about this!! I am going to go online now and see if I can do it through my bank.
I will let you know how I got on x 

@MandM90 Thankyou.....yes I am checking out a lot of frugal YT and will do the podcasts too. You are right ....laser focus like you say which is why I think digital envelopes will definitely help me as well! 

wishus

Just an update - my dad passed away on Tuesday morning.
There has been spending, but it's all logged. 

Hughesfamily

@wishus I am so sorry for your loss. You and your family are in my prayers xx

annieb64

Wishes, I'm  sorry for your loss.

CraftyLittleLisa

ldee2111 said:

@OLaney I find using an envelope system keeps my spending in check. And I’ve found an online way that has worked for me for the past 5 years. I have set up my banking to work like envelopes.

I have a current account for all direct debits plus instant access savings accounts for:
- Food
- Transport
- Fun & frolics (eg takeaways, treats)
- Gifts
- Emergency

They are all with the same bank. I can see them every time I log in on the banking app on my phone. I can also customise the account names so they are actually called ‘food’, ‘transport’ etc.



Every pay day I transfer the budgeted amount for that month into each account like they were envelopes. I spend on my main current account, and then I immediately transfer the exact amount I spent from the digital envelope to my current.

For example, say I do a big shop on a Saturday and it costs £50.07. I will pay with my current account  and immediately transfer £50.07 from ‘food’ to ‘current’ via the banking app on my phone. Then say I do a top up shop on Tuesday spending £16.57. I pay for this on my current account and immediately transfer £16.57 from ‘food’ to ‘current’. It means I can see clearly what I have left in ‘food’ and the other accounts I mentioned, and when it’s gone, it’s gone. 

The instant access savings accounts pay terrible interest (0. 01%) but this doesn’t matter. Their purpose as digital envelopes are to help me manage my spending, not make any money.

It takes a wee bit getting used to but it really works well for me. x

Do you know I was thinking of doing this myself just the other day and now you have convinced me this is a good idea I shall  get it sorted out.  Thanks for that inspiration.

CraftyLittleLisa

@wishus - I am so sorry for your loss.

fionaandphil

@wishus so sorry for your loss, never easy no matter how much it is expected x

Kerry_Woman

Wishes - Sorry for your loss.  My thoughts and prayers are with you at this sad time.

Shopaholic_no_more

@wishus I’m so so sorry to hear about your dad. My thoughts are with you all x 

willow_loulou

I’m so very sorry @wishus xx