A few things I’m doing to save money

baltiqueen

Will list and anyone else can join in with their suggestions and tips..
Here goes:
- stopped buying takeaway coffees and invested in a nespresso machine.  Have one each morning to start the day. Costs approximately 50p per pod and really decent coffee
- cut out takeaways completely - was doing this a couple of times a week. Not only affecting waistline also a waste of money as usually disappointing
- meals out reduced to a couple of times a month If that. This was once a week before. Average cost £30 a time.
- rarely go out to the pub. The risk is that I will end up buying a round which could be very expensive. May have 1-2 drinks at local sports club and I buy my own, poss once a week.
- decline invitations to most social events - the cost of taxis, drinks, presents and the possibility of buying a round means £££ could be blown in one night. Quite happy to stay in anyway.
- shower at the gym when possible. If there anyway it makes sense. 

- buying in bulk. Joined cash and carry to stock up on certain things which can be kept in the garage
- cancelled Netflix and apple music

London_1

Well done on your 'light bulb ' moment, it comes to us all at some point in our lives.The younger you are the better I'm not in the younger age group at all, probably more the other end of the spectrum, but have survived the boom and bust for many decades.This is just the latest in a long line stretching back more years than I care to think about at times.  

You sound as though you are around the age of my seven  grandchildren whose ages range from 18-32 and your savings are probably the sorts of things they would do to have more cash in their pockets, and less consumerism. Two of them are teachers and one is a business graduate. Younger people are a lot more moneywise than people think

The eldest, a teacher has decided that although he quite likes the place he lives in (Camden Town) it really makes more sense financially as his lease is up in November of his flat ,to move closer to where he works in Edgeware.
The cash he will save on his commute daily will betterpaid  for by lower rent and a bigger property.
He also said he will try to get it even lower by using his bicycle on dry days. He will still have the avaiability of going into town at weekends with his friends, but also have a bit more cash in his pocket as well.

The business graduate hasn't as yet settled on what he actually wants to do.He has a job at the moment that pays him more than enough for his driving lessons with cash left over after he has paid his Mother something towards his keep.

His aim at the moment is to get his license and a car and be more mobile.We live in an area of north Kent which isn't served very well for trandsport.

The other teacher is doing Ok finacially, but his hobby is his gym, which he really likes, and is also part of his social life as his buddies all go.He neither drinks nor smokes, and shops very carefully for his clothes. As its fairly local its not a strain on his finances and he too pays his Mother towards his keep.

The youngest is about to set off for Uni next Sunday ,but bless him he has spent to last two years working part time after school and at weekends saving towards his Uni experience.He has seen how his three brothers all managed through their time at university and already worked out a budget for the next three years , he's a very smart young man who is excellent at turning a coin or two. 

Todays young people have so many more things to spend their cash on, and be tempted by, and sensibly most of them look after their cash.

My eldest grandson lives in New York and when he moved there in 2016 with his wife it was originally for two years, but now they are settled there, and he was head-hunted by an American company, so its unlikely he will return to the UK to live for the forseeable. But being a sensible chap, and in the money sector he knows how unstable life can be, so stashes his cash for the 'just in case' scenario of a major financial crash in the markets.

The two girls are financially stable at the moment ,both married and working, and very moneywise. They all have good money heads thank goodness ,even the youngest granddaughter who for awhile, until she married, was a great lover of clothes and our local Bluewater shopping centre.But once married, with a mortgage and all that the bills entailed, she too had her 'light bulb ' moment and rarely shops for much designer gear anymore  

I think we all at some point realise that saving,which, when you are young, sounds boring and for 'old people' suddenly becomes the smart thing to do, and looking after your hard earned cash and getting the best value for it is very rewarding. 

I think you are definitely on the right track and realise just what the differance between 'need' and 'want' is which will go a long way towards your future.

Well done on seeing the 'light '  

Good luck 

JackieO xx

baltiqueen

London_1 said:

Well done on your 'light bulb ' moment, it comes to us all at some point in our lives.The younger you are the better I'm not in the younger age group at all, probably more the other end of the spectrum, but have survived the boom and bust for many decades.This is just the latest in a long line stretching back more years than I care to think about at times.  

You sound as though you are around the age of my seven  grandchildren whose ages range from 18-32 and your savings are probably the sorts of things they would do to have more cash in their pockets, and less consumerism. Two of them are teachers and one is a business graduate. Younger people are a lot more moneywise than people think

The eldest, a teacher has decided that although he quite likes the place he lives in (Camden Town) it really makes more sense financially as his lease is up in November of his flat ,to move closer to where he works in Edgeware.
The cash he will save on his commute daily will betterpaid  for by lower rent and a bigger property.
He also said he will try to get it even lower by using his bicycle on dry days. He will still have the avaiability of going into town at weekends with his friends, but also have a bit more cash in his pocket as well.

The business graduate hasn't as yet settled on what he actually wants to do.He has a job at the moment that pays him more than enough for his driving lessons with cash left over after he has paid his Mother something towards his keep.

His aim at the moment is to get his license and a car and be more mobile.We live in an area of north Kent which isn't served very well for trandsport.

The other teacher is doing Ok finacially, but his hobby is his gym, which he really likes, and is also part of his social life as his buddies all go.He neither drinks nor smokes, and shops very carefully for his clothes. As its fairly local its not a strain on his finances and he too pays his Mother towards his keep.

The youngest is about to set off for Uni next Sunday ,but bless him he has spent to last two years working part time after school and at weekends saving towards his Uni experience.He has seen how his three brothers all managed through their time at university and already worked out a budget for the next three years , he's a very smart young man who is excellent at turning a coin or two. 

Todays young people have so many more things to spend their cash on, and be tempted by, and sensibly most of them look after their cash.

My eldest grandson lives in New York and when he moved there in 2016 with his wife it was originally for two years, but now they are settled there, and he was head-hunted by an American company, so its unlikely he will return to the UK to live for the forseeable. But being a sensible chap, and in the money sector he knows how unstable life can be, so stashes his cash for the 'just in case' scenario of a major financial crash in the markets.

The two girls are financially stable at the moment ,both married and working, and very moneywise. They all have good money heads thank goodness ,even the youngest granddaughter who for awhile, until she married, was a great lover of clothes and our local Bluewater shopping centre.But once married, with a mortgage and all that the bills entailed, she too had her 'light bulb ' moment and rarely shops for much designer gear anymore  

I think we all at some point realise that saving,which, when you are young, sounds boring and for 'old people' suddenly becomes the smart thing to do, and looking after your hard earned cash and getting the best value for it is very rewarding. 

I think you are definitely on the right track and realise just what the differance between 'need' and 'want' is which will go a long way towards your future.

Well done on seeing the 'light '  

Good luck 

JackieO xx

Thank you Jackie.
Your family seem very switched on moneywise so that’s excellent.  It’s important to still enjoy life so things like going to the gym if it’s beneficial, then why not. Just cut back on waste. Cycling a couple of times a week is an excellent suggestion - I may do that this morning!
I still see a lot of people wasting money and wonder what’s going to happen to them in the future. Now more than ever I feel it’s important to be watching our finances.

London_1

I abhor waste of any sort ,in fact as I brought five of my grandchildren up whilst their parents worked, and helped with the other two as well, I drummed it into them, probably why they are money savvy.:) 

The youngsters are all inculcated to believe 'waste not ,want not' as I was as a little girl, through rationing and post-war austerity.
I agree today its even more important  to watch the cash as it has a tendancy to vanish quicker than it arrives

JackieO xx

MrsFarmer19

baltiqueen said:

Will list and anyone else can join in with their suggestions and tips..
Here goes:
- stopped buying takeaway coffees and invested in a nespresso machine.  Have one each morning to start the day. Costs approximately 50p per pod and really decent coffee
- cut out takeaways completely - was doing this a couple of times a week. Not only affecting waistline also a waste of money as usually disappointing
- meals out reduced to a couple of times a month If that. This was once a week before. Average cost £30 a time.
- rarely go out to the pub. The risk is that I will end up buying a round which could be very expensive. May have 1-2 drinks at local sports club and I buy my own, poss once a week.
- decline invitations to most social events - the cost of taxis, drinks, presents and the possibility of buying a round means £££ could be blown in one night. Quite happy to stay in anyway.
- shower at the gym when possible. If there anyway it makes sense. 

- buying in bulk. Joined cash and carry to stock up on certain things which can be kept in the garage
- cancelled Netflix and apple music

Well done you!! 

Rosa_Damascena

OP, you come from a lifestyle that is relatively comfortable and is a good start if money saving is new to you. There are some luxuries on the list - such as 50p per coffee - that many people just don't have the money for.

The problem these days is that many people struggle to provide even a basic standard of living for their families. There is little if any fat to trim and the only realistic option is a cycle of debt.

Doom_and_Gloom

We bulk buy our coffee in bean and grind it ourselves for a fresher taste, usually using the French press to brew (says it is 8 cup but we get 3 of our large mugs out of a pot). Last time we bought them the beans were £22.52 for 4 1kg bags so £5.62 a kg bag.
That means that for a full pot with 4 coffee scoops (we find this enough usually), it works out to less than 20p a pot. Doing this is much cheaper than coffee pods and in my experience much better coffee than the pods too.
We both drink a minimum of 2 large coffees a day, 3 each is usual, and I already think our coffee spend is rather high but it is something we both enjoy.

TheAble

Rosa_Damascena said:

OP, you come from a lifestyle that is relatively comfortable and is a good start if money saving is new to you. There are some luxuries on the list - such as 50p per coffee - that many people just don't have the money for.

The problem these days is that many people struggle to provide even a basic standard of living for their families. There is little if any fat to trim and the only realistic option is a cycle of debt.

The Starbucks pods (Nespresso-compatible) are worth a look. 26p/pod and just as good I would say.

It's true these are a luxury but if you do like your coffee it's a relatively affordable one I think. Mind you I like instant as well.

baltiqueen

Rosa_Damascena said:

OP, you come from a lifestyle that is relatively comfortable and is a good start if money saving is new to you. There are some luxuries on the list - such as 50p per coffee - that many people just don't have the money for.

The problem these days is that many people struggle to provide even a basic standard of living for their families. There is little if any fat to trim and the only realistic option is a cycle of debt.

Everyone’s situation is different, I appreciate that. I’ve never given any thought as to whether or not my lifestyle is comfortable or not. I guess it is compared to some but I’m certainly not well off. Even those of us with relatively good jobs are still worried about the future and how we will afford things.

Floss

I don't drink coffee so have no need of a coffee machine to replace takeaway drinks, and rarely eat takeaway or eat out so nothing to save there either.

Where I do save is by meal planning, cooking once to eat twice (or more) and only shopping once a week with a list that I stick to. I get my cat litter & dry food delivered in bulk, and buy her sachets at Wilko, Home Bargains or B&M.

If I see things I use & can store on offer I will buy them within reason - no point in storing 4 years supply of loo roll if the last year's worth disintegrates in storage.

RAS

baltiqueen said:

Rosa_Damascena said:

OP, you come from a lifestyle that is relatively comfortable and is a good start if money saving is new to you. There are some luxuries on the list - such as 50p per coffee - that many people just don't have the money for.

The problem these days is that many people struggle to provide even a basic standard of living for their families. There is little if any fat to trim and the only realistic option is a cycle of debt.

Everyone’s situation is different, I appreciate that. I’ve never given any thought as to whether or not my lifestyle is comfortable or not. I guess it is compared to some but I’m certainly not well off. Even those of us with relatively good jobs are still worried about the future and how we will afford things.

I think we are all worried about the future and even our own Government is keen to add inflationary impetus.

One thing you might consider is finding out where your local foodbank collection points are? Pasta, rice, tinned meat and fish, tinned veggies and long life fruit juice are the staples.

Essentials range are OK and often allow you to but more for the same cost. I include some baby food (gone up massively whilst choice has plummeted), on rotation, and personal hygiene bits, herbs and spice, and tin openers when they are lower price.