2023 Frugal Living Challenge

maryb

I’m not a financial adviser.  But there is a long article in the Daily Telegraph this weekend about a looming mortgage bombshell as  rates look set to rise even further to about 5.75% instead of peaking at 5% as was thought likely.  Worth a read although it may be behind a paywall - I don’t know if they will let you read a limited number of articles without subscribing.  

Have you looked on the mortgage free wannabe thread? 

RateTartExtraordinaire

@ladyholly the regular saver is a good rate.   It is flexible, too. The first month's subscription gets the full rate for the 12 month term. 

RateTartExtraordinaire

@nmaria You have to do what is right for you. 
I would ask these questions to decide: What are these saving for? Might you need the money at short notice in an emergency in the next 9 months to a year and do you have any more expensive debt to pay off?
If no, then I would then figure out how much I valued having a fixed return. Are you relying on the income from the savings and would value having peace of mind in the next 9 to 12 months or would you be happy to accept a lower interest rate on an easy access saver now, in the hope that banks and building societies might raise interest rates in the near future enabling you to get a higher fix later or better rate on easy access. Do you mind having to check rates all the time? Would you prefer to fix and forget for the next few months and set a reminder? Have you considered fixing for longer?
Think about tax implications: Are you in the fortunate position that you might end up paying tax on your savings over because you'll earn over £1000 in interest a year? If so, I would consider an ISA wrapper.
I'm not a financial advisor and I'm sure there are things I have forgotten to mention.

London_1

Shopping from existing stores at the moment as I'm away on holiday at the end of the month for two weeks so running down fresh food as much as possible .
Fridge is looking pretty empty and I'm only buying literally essential food stuff for the next few days. Tomorrow is my coffee morning in Dobbies so possibly some milk reduced in there as Tuesday is a good reduction day.Its a waitrose outlet in there food hall and for the past few weeks I have usually got two pints of semi skimmed for 39p which last me until at least Fri-Saturday. I don't mind black coffee either so I don't drink or use a great deal of milk.

Plenty of stuff in the freezer including bread and veg and even fruit so nothing really much to buy. Plus by using up stuff already in store I am making sure that I am able to stock rotate when I come home from my holidays .I always bring stuff back from the IoW from the farm shop locally so will be using that the first eek I am home again. lots of NSD ahead for the next week at least  

JackieO xx

willow_loulou

Very quiet here today, son is away and the neighbours are all out at work. It’s bliss! 

I shopped just for myself this week - it’s amazing how shopping for one is almost as expensive as 2 because you can no longer buy individual things or packs of 2 only 4 packs or large packs. If I’d thought about it I would have run the freezer down some! Oh well - luckily I like burgers and salad lol 😂 
More seeds on the go today and I’m using the week to declutter as I can pile stuff up and do 2 tip runs rather than needing to put everything back together. I have an eBay pile so fingers crossed! 

Frugaldom

Good evening, frugal friends. Rain finally arrived here after several weeks without so I can take a breather from carting water all over the place. There looks to be plenty growing in the developing woodland foodland at Frugaldom and I've just started stewing the rhubarb. (Made a crumble tonight to have with custard.)

All this talk of interest rates reminds me of our old interest beater challenge - anyone remember that?   I don't know, for sure, what is going to happen but it wouldn't surprise me if it eventually reached 8%  I'm sure it was around 10% when we last did the interest beaters. As the rates go yp, start watching the credit card transfer rates. I know Martin's newsletter mentioned stoozing becoming possible once more but don't forget to repay in full at the end of the free period and keep up to date with the monthly interest repayments without spending on the card.

I managed to switch my BT line to a slightly less expensive unlimited broadband package and have als been looking at mobile options. Signal is awful around us and almost non-existent at the house so no point in considering giving up the landline.

My runner beans and courgettes are growing quickly but I'm not getting time to do much else by way of food growing - I still haven't planted any potatoes and am wondering if it is worth my while, considering Tesc0 is tossing them out via Oli0 so often. My composting project fell by the wayside through lack of time and energy to turn it but now we are managing to shift bags of manure most days without needing to rot it down or compost it. Folks are taking it away to do that themselves AND leaving donations for the sactuary at the same time.

Anyone looking for a getaway to an off-grid location in rural Scotland?  I'm just not managing to fit everything I want to do into my days and need an extra pair of hands to help me catch up with it all. I'm aiming for a self-sustainable food garden in a woodland setting. Plenty of fruit, berries and, if I can get to them first, hazelnuts. I missed my chance to make the elderflower fizz but have been able to stick with the ivy leaf laundry liquid.I'm also still using up the gallons of homemade apple cider vinegar - the ponies love it.

Can anyone recommend a decent, fee free business bank account?

Debsnewbudget

our business bank account is Starling and they are great.

Frugaldom

Thanks @Debsnewbudget - I'll take a look at that one again, I think it was Tide I tried but they weren't taking on any more new accounts at the time I last looked.

I'm re-reading the old interest beater challenge as I feel it's quite relevant since we are seeing interest rates beginning to creep back up again. For anyone who wasn't arouns at the time, this is the link to the old interest beater challenge

mama67

I remember you “stoozing”
when Martin Lewis mentioned it on his tv programme the other week I thought about you doing it. 

Siebrie

DD1 (15) is in secondary school, in the 'carer' tract; she has cookery classes. A couple of weeks ago they had to think up and buy ingredients for a budget meal for 2 people for €5. Every single student went over budget, and the teacher let them! So for this summer break I asked dd1 to look for budget meals in my cookbooks and on the web, and we will buy ingredients and make those meals.