2008 - Live on £4000 for a full year.

Frugaldom

Ah, 87p, don't feel bad. The challenge doesn't even start until 2008 and we've over a week of that left yet. so remove that £10 from you signature and don't even think about what's to be spent this year Afterall, you've almost saved 2.5% of NEXT YEAR's 20k!! :beer: Not many can say that. I am well impressed by that alone and don't care what others think about the final week's spending. It's what this time of year is all about. For instance - I was doing the 4k challenge in 2007 and did really, really well despite a few major hiccups. Now that I only have 11 days left to go, I've blown most of the balance (had under £100 left for the full year) in the online sales. I'm going to go count up how much of my actual 'gifts for special occasions' budget (£500) actually got spent and if there's any of that left, then I'm heading for eBid and eBay to get a few small items that will help me during my 'start a cottage industry' challenge next year. :cool:

Apart from that, if you think that buying a few magazines & extra food is bad... a few years ago I took on 3 jobs in an effort to save and pay towards the mortgage. Umm... I blew the lot!! :rotfl: Had fun, but blew the lot. Those are the most expensive memories I'll have when I'm really old

hypno06

nykmedia wrote: »

Hypno6, could you manage to squeeze another £2.76 off your debt so it looks pretty as a nice round number that ends in a 5 or a 0? :rotfl:

I wish I could.........

Buffythedebtslayer

87p I know what you mean about feeling bad, technically I earn enough money to live on easily I can't believe I have messed it up by getting into debt so much. I am really embarrassed to be honest. And I also bought two magazines the other day in Marks, we won't go in to how much I spent there. I have days when I am in the not spending money cos of MSE and then days when I forgot or get miserable or well anything really!

My statement of Affairs

500 rent to Mum
448 loan payment (consolidated all student debts and two credit cards)
330 my spending money (phone bill included )
140 pounds on savings (although I may change that, maybe halve it, I have never not been able to save and this years savings went on paying for a credit card bill and partly to pay for the new laptop)

which leaves me 282 pounds to pay extra on my loan, if I halve the savings to 70 pounds that would leave me 352 which sounds lots better.

Plus what ever I have left from my monthly spend - am going to challenge myself to just spend 50 quid a week and only spend the rest if its a birthday or vet emergency.

Ok am prepared. put me in!

I am going off to change my savings. it will be the least I have saved in years. not like it did me much good mind you!!

EDITED
right I am now only saving 80 pounds month, I must save something - vets again.
and I have given myself 300 pounds spending money. travel for work lunches included plus nights out and regular shopping.

Am I doing this right? 380x12= 4560..... I will be over, by 560 pounds. hmmm. I seriously can't rethink the savings, and I won't spend the 300 every month.......... can I still be in?

flowerofthewest

Can I join in on this please? I'm more of a lurker than a poster but would like to try this even if I can't bring myself to post very often.
I've done a quick budget and am going to try to do £4000/year by meal planning and not spending as much on junk as I usually do. (will have to start cooking from scratch! :eek:).
£4000 is based on my cash expenditure and does not include bills that currently go out by DD (gas/elec/rent/insurance/tv licence/cable).
Hope this is ok.
Fi

Mollymop5

Hi everyone and good luck.Before I join can I clarify somethings just so I get them clear in my head please.
I would be living on £4000 plus my child benefit( family allowance)
Rent,council tax, water rates and current debt repayments wouldn't be counted.
£4000 would include payments of Gas, Electric,Phone,internet,clothes,food,birthdays,tv licence, home insurance.

I just need to have this clarified before I work out my budget and decide If I can join:)

Frugaldom

Mollymop5 wrote: »

Hi everyone and good luck.Before I join can I clarify somethings just so I get them clear in my head please.
I would be living on £4000 plus my child benefit( family allowance)
Rent,council tax, water rates and current debt repayments wouldn't be counted.
£4000 would include payments of Gas, Electric,Phone,internet,clothes,food,birthdays,tv licence, home insurance.

I just need to have this clarified before I work out my budget and decide If I can join:)

The above is how I'm working it and I'll be keeping a diary if I remember to post it here each week. Hope others will too, so I can spot anywhere I go wrong and yell for help

Buffythedebtslayer - I'll add you in at £4560 as your target
Flowerofthewest - you're aim is £4000

Glad to have you both on board, welcome to mayhem

Penny2myName

76.92
Electric 6.92
Gas 18.46
Phone 6.92 (max)
tv lience 2.52
Contents insurance 4.28
Sky 4.61

Sub Total 43.71 (these are actually all done by monthly DD, to work out weekly figures i times by 12 and divided by 52)

Remaining 33.21
DD's fares 8.00/2.50 (bus winter/train-bike spring onwards)
Shopping upto remaining 25.21/30.71

what doesn't get used for shopping can go into savings for birthdays/school trips/Christmas/Easter and anything else.
I haven't included my college travel as I have that paid to me each term. Also my college trips costs have been awarded to me, so wont add that either (especially as i dont actually get to see that money)

Edit:
This is for myself, 2 children, 2 cats and a dog. Admittedly DD is a teenager but my children have always been on the tiny size from birth, so size wise two 10yr olds.

Frugaldom

Hi folks, I have just updated post 1, so if you haven't yet got a challenge number but would like one, please check there to see if your name is listed. If it isn't, just let me know and I'll add it in asap. It really is much more exciting this year with so many joining in

Buffythedebtslayer

excellent! thanks Nykmedia!

all that fiddling with my figures has been worth it!

Mollymop5

nykmedia wrote: »

The above is how I'm working it and I'll be keeping a diary if I remember to post it here each week. Hope others will too, so I can spot anywhere I go wrong and yell for help

Buffythedebtslayer - I'll add you in at £4560 as your target
Flowerofthewest - you're aim is £4000

Glad to have you both on board, welcome to mayhem

can I have a number please.Count me in