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

Skint_yet_Again

Somehow it’s 1st October already and definitely chilly. I’ve had my heating on several times just for a short blast to warm up and that’s after wearing 2 jumpers and a fleece throw! 

Time2count

I've had the heating on quite a lot - son currently not working and it does get chilly up in the sky! However the gas cost for September only came in at around £27 which is better than I'd hoped (£8 a month over the summer) so I'm not too concerned. We do keep a spare duvet on the sofa for snuggling and put warm socks/ dressing gowns on etc before resorting to the heating.

I always get quite excited on the 1st as am paid at the end of the month and then the 1st all the d/ds come out so I can see what I'm left with. Have moved things where they need to go and ready to start the new month.
Had a pay rise due in April, finally got it yesterday complete with backpay so treated myself to a couple of puzzle mag subscriptions which will start at the end of the month. For around £90 I'll be getting 2 different puzzle mags a month for 13 months so quite reasonable I thought. Slightly cheaper than buying from a shop and conveniently will arrive through my letterbox!

Time2count

And another month has passed, only 2 more left this year!
I'm in a bit of a quandary at the moment. There were certain pots that were always physical pots (old jam jars in reality). For the past few years they've been virtual pots/ savings accounts which is useful in 2 ways number 1 I can earn interest on them and number 2 makes it easier when buying online. However with savings accounts starting to lose interest I've closed several pots to move the contents to a more generous account and now need to start keeping track of what's in there. I will make a new spreadsheet later on but also will do a paper version as that's what makes me happier.

Skint_yet_Again

I keep records of virtual pots on my phone but also keep paper records just in case. You never know when technology is going to fail you 😉

Time2count

Indeed you don't SYA!
I have made a spreadsheet and printed 2 copies so I have the best of both worlds. Life was simpler before chasing interest rates! If only inflation didn't exist, I could have multiple accounts, 1 for each category of spending/ saving and just crack on 😂 especially as you're now allowed to name your accounts. 
I am considering not bothering with chasing interest rates next year especially on the monthly savers. Yes 6.5% sounds nice but when you can only pay in so much a month it doesn't really work out with much more than putting all the savings in 1 place at 5.25%.
What I really would like is going back to my physical pots but that really is cutting off my nose to spite my face when I think of the amount of interest I'll be getting this year. Whenever I want my money as cash I think of that 😉

Already received my first notification of an increase come April, only £1.60 a month but still that's nearly £20 over a year. I believe my rent will be going up 2.7% and obviously council tax - they're the biggies.
When I know all the increases I'm going to work out the £ amount over a year and then see if my interest matches/ beats it - that will at least make it seem easier lol.

Skint_yet_Again

I agree with you Time2count about the monthly regular savers. I have trickle fed mine from 2.5% account to 6% account but it may have made more interest if I had put the whole lot into my 1 year bond at 5.11%. Good idea to compare the interest to the increase in bills. 

Time2count

So an hour on the phone to Sky this morning (currently with Virgin) and they're happy to take my broadband, phone and TV account, will pay my early exit fees and charge me £17/ month less than I pay at the moment. Next month my discounts on virgin end so the bill was going up by £25 so overall I'm going to be very happy with my sky price!

[Deleted User]

Are your savings in various accounts or in 'virtual' pots within one account. Just being curious!

Time2count

Hi Lord Mattenly,
I had various different accounts plus virtual pots within those accounts so I could quite clearly see the 'gifts' balance or the 'travel' balance etc. Sadly with the interest rates going down I have decided to push most of the money into the highest 2 savings accounts (1 is easy access for the pots I use regularly; the other is a limited access for those pots that I build over a year but only need to access once in that time eg hone insurance) but that means keeping track of all the balances for each category. It is made slightly easier as I always spend either on my credit card or with cash so can take my time to sit down twice a month and balance things out on my spreadsheet.

Skint_yet_Again

Well done on your bb savings Time2count. My bank interest rates have just gone down apart from the 6% regular saver which has stayed the same.