2023 Frugal Living Challenge

SecondStar

Pay day today (and my birthday!) to kick off the January budget.

Bit daunting doing a single-income budget for the first time, but at least it means I only have to worry about myself spending money.

Is anyone familiar with The Budget Mom method? It’s more ‘budget’ than ‘mom’, and it’s basically a budget-to-zero method, where every £ is given a job. The basics are to separate your outgoings into categories, give each category a certain amount of £, track your outgoings by writing them all down as they occur, and also save each month towards expected expenses (car insurance, Christmas etc.).

It’s a very simple premise, and one I got great use out of but have fallen out of habit with.

Of course, there’s branded planners you can buy that have all the bells and whistles and pages you could imagine, but in frugal fashion I print off my own pages and DIY a planner.

Over the next couple of days, I’ll be refreshing my planner - taking out all the old joint budget stuff - and printing off lots of lovely, fresh, new pages, and then setting up my January budget.

I can show the different types of pages, if anyone is interested? Though I’m sure most people here already have a great understanding of budgeting!

otb666

we use a massive white wipeboard every month with all our spends on it as like everybody else need to track spending.  Good results with veg box and less washing this year.  I have a condition which means i dont sweat so really cut back on washing. (clothes and myself) Hair and skin is so much better condition. Pleased with fuel costs we have not cut back on this and have it on 24/7 at at least 18.5 and 250pm has covered 3 adults which I am pleased with.

sams247

SecondStar said:

Pay day today (and my birthday!) to kick off the January budget.

Bit daunting doing a single-income budget for the first time, but at least it means I only have to worry about myself spending money.

I can show the different types of pages, if anyone is interested? Though I’m sure most people here already have a great understanding of budgeting!

I would be very interested

My form of budgeting has slid into 'oh I didnt know I'd spent so much' so I really need to get a grip.

And Happy Birthday

BookWormNotEvenSorry

I completed my monthly budget and to be fair there is a lot of luxuries on there which can go if things get tough. My plan for the year is to stop the frivolous spending and to cut down on food shopping and gas and electric then to save as much as possible.
I was lucky enough to enter into a 2 year contract for my gas and electric a year ago and have a year left, I currently pay £122 a month and built up a nice buffer over the summer, I've just submitted my readings for December and still have £100 credit, I want to build on that credit so that when the contract ends January 2024 I should have another sizeable buffer.
My plan is to save £300 a month minimum then put aside more if I come under my budget each month or if I earn more in my second job. I work at the local hospital and also pick up at least 5-6 hours per week on the bank.

Gingerarthur

I think I commented on one post in the 2022 challenge but I was following and looking at others' comments and ideas to see if there were any other steps I could take in my own frugal objectives. All being well, I am looking to be more active in the group for 2023, and having completed a 'top-up' shop at Tesco this morning the need for greater frugality is going to be required.. For example, my wife prefers Shredless Marmalade now 90p own brand compared to Robertsons at £2 but then you Asda at 70p so stock up there coming!

SecondStar

Took my thumb out for the first time, and used my employee benefits portal to buy a gift card for Te$c0 at 4% off. I’d been thinking about it for ages, but never getting around to it. Got my first weekly shop planned for tomorrow, naturally I can’t think of anything to put on the list! It’s been a long time since I did a shop just for myself.

cw18

SecondStar said:

Took my thumb out for the first time, and used my employee benefits portal to buy a gift card for Te$c0 at 4% off. I’d been thinking about it for ages, but never getting around to it.

I've been doing this for just over a year now - ever since I discovered it was a perk that was open to us (not sure how long it had been around by then!).   I also have one for Azda, one for S@insbury, one for Half0rds, one for Prim@rk, and a general one that works in lots of stores including Ice!and (better return than their own B0nus Card) and The W0rks.    Each seems to have a different %age saving, and I only put onto them when I'm shopping in the particular store (some I don't use regularly).   Best is when you can self-scan, as I then use my mobile to top up the card to the amount needed for my shopping just before I go to a till.

What I need to start doing is checking which items at Tesc0 (directly opposite work) are on price match to A!di (closer to home, and on my walk back) on a regular basis.   If they're truly price matched, then buying at Tesc0 is cheaper thanks to my card - and I also get Clubc@rd points.

Frugaldom

HAPPY HOGMANAY! 

Enjoy the final day of our annual frugal living challenge, stay safe and we will begin again tomorrow. 

HAPPY NEW YEAR WHEN IT GETS HERE. 

mumtoomany

Hello all, welcome to all the newcomers. I've sorted the budget for next year, I think. From January, our income will be about £900 per month. This is tax credits any various small pensions. In addition we will have bits of money throughout the year, from selling lambs, vegetables, etc and a small amount from DD1 for childcare. A lot less than previous years, all three are now in school full time and DS-i-L is now based at home. 

As none of this extra is guaranteed, I shall ignore it for this challenge. 

So each month's £900, will be spent as follows:
Bills, council tax, electric, gas, phone/internet, house insurance, water, £300.
Car and travel, tax insurance, petrol, MOT, repairs, etc, £150.
Animals, feed, vets bills, etc, £100.
Savings, £100.
Food and other groceries, £100.
Christmas, birthdays, mobile phones, eating out, £50.
Other, this will include the fridge payment of £80 per month, (same price in instalments, so left the money in savings), repairs, etc, £100.

The food and groceries is only our part, I have a contribution of £120 per month from DD. 

Will be another tight year, I think. Hopefully no major repairs. This year we've had to have part of the barn roof replaced, including a-frame and perlins. 

See you all next year. Hugs to all, mumtoomany.xxx

Cas

Hi everyone, long term lurker here.

I am looking to join too.  I was made redundant in April 2021 and no longer work.  DH still works full time and we're fortunate to have built up savings although that means I'm not entitled to any benefits despite working full time since I was 17.  Our only debts are a very small mortgage and a stoozed credit card, both of which could be paid off tomorrow from our savings. 

We are fairly careful with our money having been following MSE since about 2004 and our lifestyle is modest but I feel we are too wasteful or spend money for convenience's sake.  We have a house rammed full of food and "stuff" so with me no longer working my "job" for 2023 will be to inventory all that food and stuff and gradually use it up, donate it or sell it.  In other words declutter and spend less on food, toiletries, household cleaning products and clothes.  We already money save where we can, eg downsize with brands, foraging for seasonal food (wild garlic, brambles, rosehips, elderberries, etc), making confectionary as gifts, so I will also be looking to do more of that in 2023.

Have a fabulous New Year when it comes!