2025 Frugal Living Challenge

LiveSimply

These threads started out in 2008 as ‘living on £4000 per year’. Given that that was quite a while ago, what would the equivalent be now? £5000? And for a beginner, a complete beginner, one who has their head firmly stuck in the sand, what is a realistic first attempt? £7000?

kimwp

My "essentials" for 24-25, including organic food spend, vet bills for one prone-to-eye-infections cat, tv license, physio, clothes I didn't need to be clothed, but I "needed' to be clothed appropriately for different occasions and some tools/clothes in retrospect I regret buying as I haven't used/worn was £10,500. I've listed the things that people might not consider truly frugal. 

This amount does not include mortgage, takeaways or any food out, or anything just for fun like crafting, bird feeder, compost for the garden, seeing a show, massage, Netflix etc.

I reckon a good aim for a beginner is the state pension - basic living with some room for fun if careful, plus a good insight to how life might be as a pensioner.

LiveSimply

Kimwp, thanks. That’s a good starting point. Despite being in my 50s, I’m here, new(ish) and overwhelmed!

kimwp

LiveSimply said:

Kimwp, thanks. That’s a good starting point. Despite being in my 50s, I’m here, new(ish) and overwhelmed!

No worries! As with anything where you feel overwhelmed, take it one area at a time and plan-do-review - plan to only spend x amount, try it and decide if something needs to change for an achievable plan.

And consider a few guidelines. For example, if I see some gadget, I think - can I do most of what that does with what I have at home and, if so, do I really need the rest of the functionality? A sharp kitchen knife cuts my carrots into slices - ok, not as fine as a fancy slicing tool, but thin enough. If I'd remembered this early last year, I wouldn't have a random unused axe hanging around the house (because I can use my garden saw for any branch chopping I need to do). On the other hand, I thought carefully about a ninja food chopper, decided my stick blender wouldn't do the job and I use it every week to make hummus and salsa.

And for clothes, it has to be absolutely perfect to purchase something I'm not desperately in need of - exactly the right cut, colours etc. I've had to implement this rule as I tend to shop in charity shops and it's too easy for the low price tag and lack of choice of sizes for my friend and I to go "oh, but if you just alter this bit" and add it to the pile that so far has not been altered to fit .

Prudent

LiveSimply said:

These threads started out in 2008 as ‘living on £4000 per year’. Given that that was quite a while ago, what would the equivalent be now? £5000? And for a beginner, a complete beginner, one who has their head firmly stuck in the sand, what is a realistic first attempt? £7000?

The bank of England inflation calculator says this would be £6402 now. 

Gem-gem

@kimwp, my DH & I were having a similar conversations about gadgets. 

Why do you need:
an egg poacher when a saucepan with vinegar will do.
an egg boiler...    saucepan
toaster...   grill
microwave... stove / oven has a defrost setting

I was fuming today, my mother's credit card statement arrived today and on there was a charge from Amaz0n for £8.99 for Prime. BUT my DM had not agreed to it. She received an email a little while ago offering a free trial and then you would have to cancel if you don't want it. My DM hasn't used her computer since last summer so never signed up for the free trial. I spoke to the bank and had a quiet rant (but not at them) about how could Amaz0n be allowed to just put someone on the trial and start charging when no contract was agreed?  I have completed a form disputing the amount. They said that because Mum had her credit card details on her account they could just set it up and take the money!!!! We have ended up cancelling her credit card so they can no longer take her money without permission. (She did have Prime a couple of years ago but it was cancelled two years ago).
How many other elderly / vulnerable people are being caught out with this ?? There should be a law about companies being able to set a free trial without you agreeing to it / roll over to a subscription. Rant over. I'll get off my soap box now. 

Nonnadiluca

With people reportedly leaving Amazon in droves, myself included, they'll try anything to get our money! Really not on.

Prudent

@LiveSimply it is easy to feel overwhelmed. Even experienced frugallers have felt the shock of the cost of living crisis. Take small steps and set achievable goals. Look at your budget and break it down into small areas then decide which ones you can save on.

Also set a long term goal and work towards that. I agree that your pension would be a good starting point. Have a look at the value of your pensions now. Work on living on the state pension plus the current value of any additional pensions. That way if your circumstances change, and you can't contribute any more, then you know you will be fine in retirement. Take any surplus this creates and put into long term savings. This way you will have a buffer if you are out of work before retirement age and if you work to retirement age you have a lovely golden nest egg.

fionaandphil

Fabulous advice as always @Prudent I don't think there can be a simple amount for all, we all have different circumstances, wants and needs and are at different life stages. I think it is more about being thoughtful about what you buy, taking advantage of offers when they are available and reusing what you have.

It looks like the economy may suffer for a while so it's a good idea to have a buffer and maybe get some stocks of non perishables while prices are lower.

I've planted more veg this year and need to be better at harvesting and storing it. I sometimes feel overwhelmed when we have gluts but I need to just knuckle down and turn it into sauces or jams instead of letting the birds have it all. We are just getting to the end of last year's blackberries so I know it can be done. I'm off outside now to plant some more seeds!

Topher

I think I’m ready for Easter. I had some left over Lindt bears from Christmas after using the red and green ones, so they are set by. A*da were selling the smallest boxed Cadbury eggs for 98p each (previously £1.49), so I got each of my 2 Grandchildren a white and a caramel one (I had to dispute the white ones because of a shelf pricing error). I found a reduced egg hunt pack of small Nestle eggs (8 so 4 each) and a small (but not very satisfactory) reduction on a Medium sized boxed egg each (£2.32 each) as well as a packet of plastic eggs which I’ll fill with non-chocolate but egg shaped cheaper sweets. All the above should make up a decent basket each and comes in at pence over £5 each. My adult children and a wife as well as myself and DH won’t be having anything this year unless I can source something last minute. On the subject of disputing receipts, I noted that by going back to different counters with my receipt after finding errors has recovered a total of £8.49 this week, and a free multipack of crisps to replace a bag which had a shortfall in the contents. It irritates me that the receipt thing (pricing errors) is possible.