2026 Frugal Living Challenge

maryb

I'll be following along. When we first retired we were comfortable.  We are not struggling now by any means but I find I'm having to nurse the cash flow.  So the main aim is to stay within budget and at the same time build up a sinking fund for all the one-off annual expenses so that I can then set up a monthly direct debit to a savings account so the money is there when the annual bill comes in but I have averaged the cost over the year.  This means that this year I will effectively be funding double the cost - paying the actual bills as they come in AND putting aside the equivalent amount for next year over the course of the year.  Doable but needs focus

suzeesu2000

Hello all. 

Yes, it’s time to pull my big girl pants up and knuckle down to getting control of our finances again. With the ways prices have spiralled out of control it’s time. 

Sadly we don’t have the physical ability or the space to grow our own food, I did try for several years but just wasn’t a success as we have very poor light and no room.
The biggest issue we HAVE to deal with is outgoings. 

I’m not shopping during January. We have 2 full freezers and well stocked pantry shelves so there is no excuse. The only thing I will permit is fresh bread and milk if necessary. 

I want to reduce our utility bills too. We already barely use the heating, but I need to find ways to cut our electricity bills too as that’s always the highest and I can’t fathom why.
I’ve set my goals for 2026 and will do my utmost to stick to them. 

Hope everyone has had a good Christmas. 

mumtoomany

Hello, @Chan2019. Welcome on board. Beware frugality is highly contagious. Once you start, you'll not be able to stop. Soon you'll find you are in control of your money, and it will grow. Keep posting and we'll keep you on track, hugs, mumtoomany.xx 

Chan2019

Thank you so much @mumtoomany this is the exact group I need to sort myself out. Need to pay off a credit card and build an emergency fund. Have a lovely day xxx

Rowan9

Thanks for this @Frugaldom and for all the previous challenges. I’ve read for many years. 

I am retiring from full time work in 2026. My aim is to save as much as I can before that. I’m pretty frugal but could do better! 

Char95

I'm planning a clothing no buy for 2026. Just for myself, I will buy things my kids need. But I am no longer growing, at least not upwards, don't care about fashion and already have more than I need. 

I just wanted to post it somewhere to make myself accountable. 

Changeyourlife25

This looks so good,

quick question, does the 4k a year include the food budget? So basically everything that isn’t food, rent, or bills? 4k?!!!!! 👀 

MayDogsandCoffee

I am going to be making a bit more effort this quarter (at least) I plan to leave work in the summer.  My early retirement will come in part thanks to all posters who have helped me see the light over a number of years - starting with paying my mortgage off early.  I am fairly good but tend to blow the food budget and eat out a fair bit, so need to rein that in a bit.  Although I save a fair bit I do need to reset budgets more in line to what I will have coming in from Autumn; my outgoings won't really go down as I mainly work from home, they may go up when I am not stuck in front of a screen for 8 hours a day.  

mumtoomany

@Char95, you could be amazed at how long you can not buy clothes for. Since we moved here I have bought, by way of clothing and footwear: 
A coat. Previous one was wearing out, bought before last child was born, she's now 26!
A pair of (non branded) crocs. Children's from Aldi, no VAT on children's clothes and I have small feet.
A pair of steel toe capped wellies. I had worked my way through the huge box of 2nd hand ones, left by previous owners.
5 pairs of knickers. Tesco.
4 bras. Pound shop.

All other new clothes have been gifted by family for Birthdays and Christmas. I also received second hand items from our children and other family.

Total for all the above is around £70. This is over the last 12 years. I still have wardrobes and drawers full and have yet to run out of anything.

There is a good thread run every year on here, Fashion on the Ration Challenge. Like this thread it is very friendly.

Hugs, mumtoomany.xxx 

mandy47

I didn't but any new clothes this year. Not even chazza clothes. I did get a lovely new knitted hat and a beautiful jumper for Christmas from my DD. I intend to do a "stock check" in the next few weeks and see if I can keep it up. 
Will need new work shoes at some point.