A year of saving but maybe also spending a bit too!

Time2count

Back into the old routines, work, weekend shopping and library visit, housework et al. 
Not really got anything to be spending on which is good news! It is my niece's birthday next week so the first gift of the year to buy but the money will come from the 'gifts' pot.
I feel like I need some kinda challenge re: money. At the end of the year I allocated the annual spends into their various pots so now each month I just put the amount needed into savings ready for next December, put the day-day expenses into my general account, pay all the bills (well the DDs do that themselves) then just put all that's left into an ISA. It has got dull (ideally I'd love to be paid annually and pay all my bills annually but that's another story!). I don't think I'd enjoy any of the penny a day etc challenges as I see that as just saving the same money but daily rather than monthly. I'm not one for coffees and cakes etc and as I have a very same-y routine each week there's not much I feel I can cut out. I'm not a saint or anything, yes I'll buy the odd coke/ crisps etc, but I don't really have the spending bug. Even my idea of working out the percentages saved, well I've done it now and can forecast when I'll hit 100%, I might be out by a month or 2 as I can't predict what the savings rates will do - expect they'll be back close to zero in a year or 2 so I haven't really allowed for any interest.

Inspire me people - how do I get excited about saving?!

[Deleted User]

Personally I feel you need to keep a sense of balance. Do not let money and savings become all time consuming. Life is for living too! You seem to have your financial affairs on an even keel. Perhaps you need to develop some more interests outside of your normal routines that are not money related. Also question what you are saving for. For example retirement, a holiday, emergency fund etc….. All laudable reasons for saving. 

You do not want to become consumed with saving for savings sake as that can lead to issues too. (Just as spending for spendings sake can)
Best wishes.

Time2count

Well this is a strange thing, since creating an account and starting to post, I find myself reluctant to do so. Might be just a January thing (you know, the month is long dark and cold so summoning up energy is difficult) or could be a 'now it's a reality' thing. I used to read these boards and have replies ready in my head.

Baron Dale, I am saving in the hope that 15-18 years from now I might be able to retire early or at least reduce my hours somewhat. I think though I am possibly failing to look at the bigger picture, just waiting each month to see my savings pot grow. In terms of extra interests/ hobbies, time is my biggest problem, I am just so busy day-day and by the time I get home and had dinner etc I am too tired for getting up and going out again etc. I'm happy with my day-day life but the lack of time is probably what's driving my desire to save in order to free up time in my future. Unfortunately my job isn't something that can be done part time, and a job share wouldn't be feasible. However I don't feel able at the moment to look for something different, I feel quite fraudulent about the job I have as I often make it up (TBF no one bothered training me when I started) so I don't feel confident getting a similar role as I know realistically it is a bit beyond me. However I am learning and growing in confidence each month so that could be a possibility in a few years time.

I have set myself a little challenge for this year. I know the amount I can comfortably save, I am hoping to add an additional 25% to that by the end of the year. Plus for each additional £1 I save I will add 50p to my fun spending pot. Whether this comes from vouchers saving me money, interest earned, getting something in a sale etc or reducing a bill - all those little bits can add up and I will share them 2:1 between savings and fun times!

[Deleted User]

Many thanks for the excellent update and thoughtful comments.

Time2count

I have had my first success of the year... so this month the NI cut has taken effect in my pay, so I have added the extra to my interest payment from 1 of my savings accounts and then split it into 3. I've put 2/3rds into my savings account and the other third into my daily spends account with the plan to buy something nice for myself, even if only a couple of charity shop books or something. I have to say, it was difficult and is still playing on my mind but I plan to enjoy spending it.
Other than that it's been a reasonably frugal month, have bought 4 of the 9 February birthday gifts, and picked up a couple of things for 2 nephews who have birthdays later in the year. Card shopping at the weekend and hopefully picking up a couple more gifts while I'm out.

OnlyJealousOfBirds

Nice to hear that you've been getting some good birthday gifts! I always go a bit mad about gifts, going to try to be better this year - at least in my family they're all nicely spread out. Can't imagine having a bunch up in February, so soon after Xmas but long past the sales. Keep us updated as to how it's going and if you think of anything in particular for your fun spending pot!

Time2count

Went to the library this morning, first time this year! I plan to have a lazy day today and then crack on with housework tomorrow. 
Not spent any fun money yet, my son has a test next week so I'm thinking of taking him for a meal out afterwards to either celebrate or commiserate!
I've bought 2 more birthday gifts and all the cards. The last few are proving more problematic although that's mainly because of the distance they live and I despise having to make parcels up and post them! Quite frankly I'd be far happier making some yummy edibles as gifts but sadly that only works if you're going to see the person.

Time2count

So it's that time of year where I am desperately trying to work out the bills before the companies let me know the amounts. So far I have discovered a 16% increase in water, 8.8% for internet and mobile, 7.7% for rent, just waiting for council tax. The rent is the biggest headache, it increased £80 last April and we're looking at a similar amount. Overall it looks like I'll be paying out an extra £120-130 month more from April. Which is a shame as I had approx £40 unaccounted for in my current budget so looks like resetting the whole shebang!

All February (and March!) Bdays have been sorted and I've even been to the post office! Thankfully no more til the summer now which is a relief! 

Had a meal out earlier this week £12.39 for the 2 of us including soft drinks (I love spoons!!) 

Time2count

So I am still unable to set my budget, waiting on 3 more bills - I have worked them out with the % increase I believe but would rather get official notification before I commit to it.
The sad news is my outgoings are now around £100 more per month than this month, however I have changed the c/tax and water to 12 monthly not 10 so they are a little less per month than last year! The NI cut will also be a help.
Hasn't been a too spendy time, however had a couple of unexpected trips due to a relative being very unwell in hospital and visiting them, quite a distance so the train was expensive plus food etc but obviously needed to be done, and after all that is what savings are for. So whilst I haven't grown my savings as much as I would've liked to, I am so grateful to be in the position to have the money there and available, definitely not the position I was in not so long ago.

Skint_yet_Again

Sorry to hear about your poorly relative. Hope they are ok. Thank goodness you had your savings. I’m still waiting for my council tax bill too. Glad the cut in ni will help you.