2022 Frugal Living Challenge

Frugaldom

Welcome to our newcomers!

Everyone needs a little moral support sometimes. Whether we are up to our eyes in debt, struggling to stay afloat, just making ends meet, or even debt free with the capacity to save, we all need to be able to take time out from the stresses of life - financial or otherwise. Its always my hope that these forums, and others like them, provide such an escape, while also offering support through being part of our frugal living community. Let's make 2022 great, despite all odds. With only 3 days remaining of this year, there's still time to join the finale of our 2021 challenge.  I will add in the link between the 2 as we update for the new year.

Are you all ready to help put more fun into frugal living? Good luck to all. Sharing is caring and we certainly all care enough to share our thoughts, hopes, dreams and simpler lives that lead us to where we want to be.

EskarinaWeatherwax

Hi everyone, I’d like to join in too if I may. I’ve been interested in frugality since I was a child and found a book on how to make your own toiletries. I’ve never felt financially stable until now - I’ve felt sometimes that being in debt meant a bit more debt didn’t matter… I’m debt free apart from the mortgage now and hope to stay so.

I’ve been following the 2021 challenge for a few months, having decided in September that I want to pay off my
mortgage as fast as I can. It’s a *long* mortgage and is due to end in 2040 and I don’t want to work for another 18 years!

I run my own business which is by turns immensely satisfying and terrifying, as contracts can end at the drop of a hat. I love the work but hate the stress and want to reduce the stress, so reducing the need for £££ seems the way to go.

I live with one 🐈‍⬛ and grow various bits - potatoes, tomatoes, beans, greens, soft fruit, herbs. No car (I’m a member of Co-wheels) but I seem to spend money like water at times. I shop as ethically as I can so it’s either cheap clothes from charity shops or expensive ones from ethical producers. I’m not much for clothes anyway.  I’m on olio, and I’ve been eb@y1ng - £335 in the last three months!

I’m great at saving and managing money when I set my mind to it, so I want being here to make me accountable. As a trial, I set a £500 limit for everything not on DD in October as a trial and that was fine. So I’m going to work out my budget today or tomorrow and I’ll come back and share it here.

I aim to pay a minimum of 125% of my monthly mortgage payment each month while also saving in various pots for Christmas, annual bills, house stuff, emergency fund, holidays (likely to be travel to house sits or camping or possibly a B and B ) 🤞🏽. I tell myself that even little bits saved regularly add up and stop the shock of big bills.

Thanks you all so much for the inspiration over the last few months. I’ve read the entire 2021 thread and while I can see that so many of you have had huge challenges, you’ve made it through. I can see your resilience and hope - thank you for sharing so generously.

natnat13

@elbree Re shared ownership - a lot of schemes now you don't have to pay rent as well so it may be worth having another look. My friend has just bought a 40% share of a house which had to be sold at a 60% discount to local people. She can't buy any more of it but it's hers, she pays no rent or service charges, just mortgage (she'll obviously have at sell at that discount if she ever moves.)

@Frugaldom My new years resolution is to be more postive, maybe we could post a positive frugal thing we've done each day or whenever we log on? So far this week I have:
- Renewed my car insurance £20 cheaper than last year
- Made 2 lots of turkey curry and 2 fruit crumbles with leftovers and frozen
- Sold some books and clothes and got more listed on various selling sites. All money made will go onto my CC debt, it's down to about £360, my goal is not to spend on it this year. It's 0% interest but I want to get out the habit of spending on it. 
- I have written my budget out which is £1200 a month for everything including a misc £200 for children's trips, clothes, birthdays etc. Sounds a lot when I wrote it down but that includes £100 a month into our wedding savings account and we also overpay into our joint bills account so when things need fixing / replacing in the house we have the money there. So I should be able to save a surplus every month, I'm going to start writing ALL my spends down!

never_too_old

Please may i join,I have £17.5 k left on my mortgage and i need to finally get it paid off.I have become a bit lapse in frugal living so 22 has to be a wake up call for me.

Saver.The.Taste

Good evening, hope all are well. Long time (3+years) lurker, first time poster and was wondering if I could join this year?  I've never really been able to hold myself to a limit but finally find myself in a position where I'm able to.  I was looking to set myself a limit of £8,000 for the year to include everything except Rent, Council Tax, and any costs associated with that.  I've loved the inspiration I've picked up here over the years and finally think that this year I shall conquer it, so let's wait and see! 

Thanks for having me!

elbree

Thanks @natnat13! I will look again, good tips. I love the fresh feeling of a new year/new month and making fresh goals. Have joined the grocery challenge for Jan and would like to save £300 a month towards a 'future' fund, outside of car/holiday/child pots etc. 

Snowy_Owl

Will be following and looking for hints and tips!!! Aiming to build up emergency fund /savings this year so all help appreciated!

makingmehappy

Thank you for the challenge @Frugaldom. I'd like to join this year.

I don't have a particular goal to aim for at the moment, that's mostly the problem, I'm feeling a bit lost with where my life is at the moment. I just know that at some point in the next couple of years there will need to be some changes in the way I'm living and working as I'm generally just not happy. I'm hoping that frugality will help me to save some money so that I can make the changes when I feel ready.

Good luck with the challenge everyone.

Frugaldom

@Frugaldom My new years resolution is to be more postive, maybe we could post a positive frugal thing we've done each day or whenever we log on?

I try not to post negative comments as I like to share my love of frugal living. Positivity and eternal optimism helps make most things fun.

Welcome to more newcomers and to long-term lurkers who have managed to step out of lurkdom to join us. If we can help make your journey to debt freedom, or to wherever else financially you are travelling, any easier then we will. Just remember that frugality is about making the most of as little as possible without tipping the balance into meanness. It isn't about self-imposed poverty it's about the freedom to choose not to spend. Frugal living is an achievement, not a punishment. 😊

WinterWarrior

What a lovely description @Frugaldom