Live on £4000 for a year - Part 2

Frugaldom

Good afternoon folks, I have been out and in the Gala site all day, not a bean so far. I couldn't even get into my Country Club to visit the stables at one point, but have managed to lodge myself in there now. Apologies if I ignore you, it's because I'm not really there, because I'm here, or eBid, or updating work. :rotfl:

Good luck again, I need some this week! DD has confirmed my suspicions but I'm not allowed to err... tell anyone until the official announcement. OOPS! Pretend I never suspected a thing.... :shhh:

sukielou75

Hi all, I wish I had known about your challenge from the beginning, I am new to MSE, my OH has recommended it to me and it‘s just brilliant. I have just recently had the light bulb moment and I really need some help to start saving and become debt free, I have realised with all the talk of the credit crunch that the government likes everyone to be in debt (or reliant on them in some way) so they can keep us in order, they like that everyone has to work for the rest of their life to pay their debts off so we can pay our taxes. The government would hate for everyone to become self sufficient with enough money to be comfortable to get them through life without slogging their guts out every day and it would be a great poke in the eye if everyone managed it. (sorry to moan about the Gvnt it’s not just whose in charge now, they all have the same basic policies (apart from Green) I’ve only just realised what a big con it all is). I have read the " live on £4000 a year" thread all the way through from the very start and I feel that I would like to take on this challenge and more to the point I really need to take on this challenge, I now work in the public sector after working for the private sector for many years and now I am on a very low income and I can't adjust my finances accordingly and if I‘m to ever achieve my dream of leaving this rat race behind me then I need to get saving and fast, time is ticking. I know that NYK said that there would be no extra entries after 31/12/07 but I really need your help, would you be able to make this exception for me?, I have worked out that if I start now (1st of May) I would have to spend for the rest of the year £2,700, I have no children just a partner that likes good food and it's lucky I'm a good cook but I need to be more organised with meal plans as food does go to waste (which I hate). I have already started some money saving albeit a bit half a’d and that's why I have ended up here, I really like the way you all motivate each other, it's a bit like weightwatchers!!!! Even if it’s too late for me to join this year, then I hope that it will be going on next year so I can join then, I will continue to follow the thread and try to come up with some tips of my own. WELL DONE TO YOU ALL.

whitewing

Sukielou,

The rule about no new challengees joining after the end of last year went out of the window a long time ago! We're just impressed and remotivated by every new person who comes along.

Nyk will give you a number later. Somewhere someone will tell you how to work out a pro-rata target.

Well done, and if any other lurkers want to join, then come on down (the price is right!)

Frugaldom

Hi Sukielou, welcome to the 4k challenge.

The easiest way to work out your target figure is if you already know exactly how much you have spent so far of your annual allowance. If you have read the thread, then you'll be able to estimate your annual target. If you decide to go with the £4,000, then 1st May will mean you have two thirds left, equivalent to £2666.66 I'm not sure how your challenge will work, as our calculations are spread over a full 12 months, but good luck with your practice run in 2008, we'll probably all be here for 2009 as well
I'll update post one of this thread as soon as you let me know your target figure.

taka

:hello: Hi sukielou!! Welcome to the mad house :rotfl:

Off to blow my budget at the hairdressers...

sukielou75

Hi there, thank you all so much. that’s great news for me I am now ready to become debt free!!! I think I will stick to the £4,000 challenge, nyk can you help me with my calculation? I am rounding it up a bit and averaging it out (I remember reading some odd numbers can cause offence).
I have worked out my budget is: £2678 per year (366 days minus 121 days divided by 245 days times by £4,000 pounds) averaged out at £335 per month and that means on average per week (30.4 days) £77.00 (OMG!!) Does that sound right?
I will include in this all household bills, travel(incl to/from work), TV licence, groceries, mobile phone, birthday pressies, hobbies, hair cuts, clothes, dentist (arrghh!!) etc etc. I will not include rent or service charge (heating and water included in this also), holiday(if we get one), any large furniture or large appliances we might urgently need, Sky (my OH has this for sport and I would happily get rid but he’s not so keen). My real problem will be to not spend on shoes it’s the one thing I have no control over, it’s ridiculous I don’t even wear half of them.

DdraigGoch

:wave hello, Sukielou and welcome to the £4K board. It's very scary to start with [and sometimes in the middle too!] but this is a very supportive and chatty board so I'm sure it'll help. If you are really in trouble then if you take out your basic necessities re work [travel, clothes, etc], take out your council tax and rent/mortgage etc then work from thereon in you'll be saving money before you know it!

Re your OH and his love of good food, try borrowing a copy of Rose Prince's The New English Kitchen. It's a very inspiring cook book and it's the only one I know that has frugality at its heart. That way you can cook, he can eat, both to your hearts' content and you'll both save money.

Is OH on board with the debt/moneysaving? I presume he is since he's guided you here. If so, how about doing what one couple does on here - try to outfrugal each other! It's a wonderful feeling to be working with someone instead of against them so you have an advantage over some of us on the board. Some are running to keep still, some are just running and others are racing ahead, but we're all in the same race - and someone always, always stops to pick you up and get you started again when you fall over. That's what I mean when I say it's a nice place to be.

Hope that helps.

So, again, Thanks to Nyk and to all the MSErs who are on this thread, members and lurkers alike.


DG

DdraigGoch

ps If you divide £4K by 365, add up the days passed in 2008 so far, take that away from 365 and multiply the £xremaining days = amount left for 2008

I work that out to be, (£4K/365=£10.95)x(365-107=258)=2827.40 which is £2830 for the rest of the year.

If my maths are wrong, not unlikely, please correct me.

Frugaldom

Hi Sukielou75, I have just added you to the list of challengers at number 146 and a total of £2678, which will be about right, as £4000 per year works out at £76.50 per week (to cover the extra day in a leap year).

Glad to have you on board and don't forget to let us into any of your frugalising secrets. Good luck and have fun

Marru

Sophiesmum thank you so much for all your advice re the joghurt making. I got my maker already and was going to go tomorrow to Lidl (I don't have Asda near) to get milk and berries to get started BUT. I brought DD home from nursery today and she wanted to see the maker. I showed it to her and said not to put it on the floor as it will get dirty (we have two dogs and I swear that they manage to shed hair worth a dozen of dogs which I fail to keep up with). I turned my back and what did she do. Not only to dismantle the thing on the floor she ripped the polystyrene to pieces that was inside it. :mad: I was so cross I just took her to bed - no story no nothing. (Going now to subscribe to bad mothers thread). I did email the UK rep asking if they could send me a replacement thingy, fingers crossed that they can.

Better day tomorrow.

Marru

PS Welcome Sukielou75 :hello: