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2008 - Live on £4000 for a full year.
Comments
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sigh (looks at nyk) :PSealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.320
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if iam correct 4,000 to live off , birthdays, xmas (i have park and i pay £10wk for 45wks to get £450 xmas vouchers for 2008) do i count this?
anyway worked it out 4k to live off means £333.00 a month round about. whatever i have left out of £333.00 a month (not inc bills that amount isnt) i will put in my piggy..how about that? how does that sound? think i have correct idea tell me if im wrong?
In your budget, count everything except rent/mortgage and council tax/water rates. You do not count the cost of essential work related travel, such as the 2k mentioned by the op earlier.I reserve the right not to spend.
The less I spend, the more I can afford.
Frugal living challenge - living on little in 2025 while frugalling towards retirement.0 -
what about electric/debts/gas?Sealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.320
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what about electric/debts/gas?
Everything gets counted in. Start with a balance of £4000 in your signature on 1st January and deduct it as you spend it. I think that will be easiest
This is the toughest financial challenge I have ever taken part in and I've been doing them since 1999. 2008 will be my second time around doing the 4k challenge.I reserve the right not to spend.
The less I spend, the more I can afford.
Frugal living challenge - living on little in 2025 while frugalling towards retirement.0 -
so i do include my debts in the 4k? but not rent..i dont pay council tax and my rent is only about £130 a month (i get it paid for) and also till april my rent is free as i have paid it upfront 6monthsSealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.320
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The whole point of the challenge is to pay off debts in a methodical manner. If you are budgeting on the £76.50 per week then anything you have over that should be used to pay your outstanding debts before you think about putting it into savings. Once you are debt free then everything extra over the £76.50 can be used to save and earn interest. If you pay £10 a week to vouchers then that has to be from the £76.50 I bank £10 a week off mine for presents, so it'll work out the same in the long run. This really is a toughie!! LOLI reserve the right not to spend.
The less I spend, the more I can afford.
Frugal living challenge - living on little in 2025 while frugalling towards retirement.0 -
I am interested but a little confused...... take out rent/council tax/water rates and that is it? All other bills inc birthdays, Xmas, hols, clothes, food etc all comes out of the £4k?'We are all in the gutter, but some of us are looking at the stars' - Oscar Wilde0
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SarahNeedle1872 wrote: »I am interested but a little confused...... take out rent/council tax/water rates and that is it? All other bills inc birthdays, Xmas, hols, clothes, food etc all comes out of the £4k?
You got it! :beer: 4k is for ALL essentials. As a holiday isn't really an essential, that would be taken from your savings and could be one of the reasons you take part... to save for a holiday Live on 4k, bank an extra 5k and jet off to Florida for a few weeks 
I reserve the right not to spend.
The less I spend, the more I can afford.
Frugal living challenge - living on little in 2025 while frugalling towards retirement.0 -
omg il be quitting b4 i have even started lol so 76.50 a week i have coming out 5pound gas 5pound elec, food say £25, 3.25 water. rent (april) 32.50
so thats £5.75 left woohoo not including debts BUT i dont pay rent till april woohoo so it wil be more
il give this challenge a go tho#
we starting 1st jan?Sealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.320 -
oh so i dont count my debts like catalgues , cc's in this?Sealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.320
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