2008 - Live on £4000 for a full year.

Mollymop5

I'm starting Jan 1st.i have Direct debits for all my bills and have worked out how much I need to leave in my account weekly to cover them.I will then transfer what is left to my other account which is what I have to "spend".I will then take my weekly grocery money out of this and only use cash to shop.what ever I have left in cash will go in my sealed pot.The little excess I have in the bank I will transfer to my savings account Monthly and use this to buy any birthday presents extras I need too and when I have enough there I will try to pay off a debt.I'd like to clear one debt by Easter, 2 if I can.That's the theory anyway.Will have to see what happens in practice
:eek: scary isn't it!

Frugaldom

mumzyof2 wrote: »

snyk u still here? just wondering if u got pm?

I am answering your PMs, aren't you getting them?

Also, check out your home contents insurance - I got quoted £52 from LLoyds TSB for a full year and have just gone through greasypalm where they are advertising a £30 cashback on contents only insurance. Remains to be seen if I'll ever get the cashback but the insurance was cheap enough and covers everything I own no problem. (Remains to be seen if I'll ever see the cashback but I'll fight for it if I have to)
Regarding the telephone calls, my sis lived in Cyprus until a few months ago and my calls to her were only 2p per minute. Check out www.dialwise.co.uk for individual country costs. I can chat to my pal in France for a penny a minute or friends in USA for the same :beer:

truthseeker_4

nykmedia wrote: »

Numbers all updated -welcome Truthseeker and FrankieM, thank you for joining

Truthseeker... can you give us a brief idea of your living situation so people understand how you can fix such a low target figure? It seems impossible to live on £1500 a year if you have household utility bills, food and clothing to pay - are you in houseshare or still at home?

OOPS! Would help if I actually remembered to include the numbers here LOL

Mumzyof2 - 84
Truthseeker - 85
FrankieM - 86

hi, well i live at home and the figure is minus rent, which includes all bills. I live at home (only 18). I won't pay all my food bill either. Don't own a car. That's achievable right? Well it's worth a try anyway! I want to pay off my debts of 3k this year.

What do i do with the number?? Sorry never done a challenge before

JustKeepSwimming_2

Hi

I'd like to sign up to this before I change my mind - it is going to be hard but exactly what I need!

I've calculated from all my bills etc (excluding mortgage,council tax & water) that I'll need over £100 per week, so I'm aiming for £100 plus my child benefit of £30.20 which gives me a round figure of £6770. I'd love to lower it but think it would then be a truly unrealistic (for me) figure!

Can I have a number please to add to my signiture? I've never had one before & I'm sadly excited...:j

mumzyof2

yes i sent u another pm nky
thanks molly and nyk for helping x

Frugaldom

truthseeker wrote: »

hi, well i live at home and the figure is minus rent, which includes all bills. I live at home (only 18). I won't pay all my food bill either. Don't own a car. That's achievable right? Well it's worth a try anyway! I want to pay off my debts of 3k this year.

What do i do with the number?? Sorry never done a challenge before

Go to the UserCP button at top of this page and then go to 'edit signature' where you'll get a pop up box that lets you type in whatever you like and it shows up underneath each of your posta. Mine has the £4000 challenge included and we each have a number so we're reminded that there will be note comparing and progress reporting Well done starting budgeting at 18 :T :T :T

whitewing

I had a no spend day today. That's all I have to report really. I am checking my online stmt each day and updating my sig when it comes on the stmt. (Therefore if a refund gets processed at any point, my amount on my sig may go down - I know how eagle-eyed you lot are). I'm very motivated. Not sure about how realistic. Good to see so many new challengees joining - don't forget that New Year's Eve is the last day you can join the challenge (if I'm remembering prev posts correctly)

Mollymop5

mumzyof2 wrote: »

yes i sent u another pm nky
thanks molly and nyk for helping x

No problem mumzy.I have replied to your PM but will be heading to bed soon.

mumzyof2

i sent one back also you have mail nyk :P

redmel1621

nykmedia wrote: »

Hi Red,

The rule concerning water rates is because the original challenge was taking part in Scotland and we don't have seperate water bills here, so it wasn't fare imposing the same amount on those living elsewhere knowing that they had an extra bill to pay. EVERYTHING (other than those items) had to be paid out of the £4000.

Since being asked to tell more about the challenge on here (I've already completed 2007 and several others prior to this) I have had to keep adding in new bits to fit in with everyone's circumstances. I confuse family allowance with child benefit, I thought child benefit was the current name for what was called 'family allowance' and everyone gets that, so long as they are responsible for children.

Hope this helps a bit

Thanks, that explains the water query....
Hey maybe Child Benefit did used to be called Family Allowance??? I'm not too sure, But it is definately not £4000 a year(I wish), never mind though...
I think I will join in but I will set my Budget at £5200 for..well see sig.

Hopefully I can keep costs low as I really want to get those debts paid off in 2008... One more Question, I am buying a PS3 in Feb:D will this come out of my budget or is this classed as a luxury/should be paying off debt item. hehe

Thanks for clarification....Oh and can I have a number.....Pretty Please:cool:

Mel x