Old-style "spend To Save"

ceridwen

Have now pretty much got everything/done all work on house that I intend to do at present - so I'll have some spare income :T at last. It wont be that much - as I am in a low-paid job (so pick up less than £1,000 per month) - so not enough to go wild with if I wanted to!

I would like to make best use of this - I dont want to just fritter it away on consumer goodies (I have enough to be going on with - and to spare:D ). The "simple" solution would be to just plain save it - and that would, on the face of it, be a good idea and I could do with some savings because retirement isnt now huge amounts of time away and I would like to save it to supplement the even lower income I will have then (and the increased prices I anticipate we will all have) - but I feel too much at risk of unemployment between now and retirement to take the risk of having any more than a token amount of savings (with the extremely low capital limits).

Hence - its best to spend it - but I want to make sure its all spent usefully - which is where old-style "spend to save" comes in.

To date - I've "spent to save" by paying off my mortgage and debts and I've done what I can to make my house more fuel-efficient (doubleglazing, thick floor coverings for insulation purposes, etc) - so I've used spare income so far to cut my basic living costs.

I'm wondering what else I can usefully spend this money on to save myself further on these basic living costs.

Growing loads of food on an allotment is obviously the first thing that comes to mind - but allotments are scarce as hens teeth here. So scarce that one cant even get on a waiting list for them. Back to the drawing board for other ideas then.

Can I pick everyone else's collective brains on what "spending to save" they think I could do?

This isnt just of personal interest I feel - as it looks uncomfortably like we are all in for a major Recession shortly - so a bit of collective "battening down the hatches" seems advisable in case.

A lot depends on peoples personal circumstances:
- if I had a bit of unwanted land next to my garden I could try to buy it to extend the garden for extra foodgrowing (not possible for me)
- if I had spare space in my house (even a cellar or garage) I could rig up fluorescent lights and start growing a bit of food indoors under those lights by the Square Foot Gardening method (got the how-to description) (no spare space for that)
- spend money learning practical skills I could use myself and maybe make some extra money with (me and practical skills - the only practical skill I am ever likely to have is cooking)
- if I do have to buy anything getting something of "lasting" quality (really only two things left to get - a replacement sofa and replacement chest of drawers - so will get last for decades type sofa and last for centuries type chest of drawers - so not much scope for that idea).

Thats me plumb out of ideas for usefully using that spare money - all other suggestions welcome.

(NB: I've already thought of cutting my workweek back to 4 days - so as to have extra spare time - but that would impact on my already low pension I am due for - so not feasible).

(Oh well - at least its better having this financial dilemma than the one I've been used to for years - of how to "rob Peter to pay Paul" and whether I am going to have enough money to last the month - LOL.

whatatwit

My grandma used to have a largish garden, which was quite overgrown. She came to an agreement with a neighbour, who tended the garden and used it as an allotment, the deal was that he gave her some of the veg etc that was grown.
Would that be possible for you?

ubamother

replacing electrical goods as needed with the most efficient ones available? window boxes for expensive herbs/saladings? find a course that might help hone existing skills - cooking etc into marketable ones?

skintscotslass

I think investing in a course is a great idea. Could you do something like dress making/curtain making? I'm just thinking that if people are looking for ways to cut down on expenditure, they maybe would prefer to get a local person to do it for (presumably) a more competitive price?

ravylesley

you say that cooking is your speciality.How about setting yourself up in business for home catering/party catering.It wouldnt cost much for a small advertisement in a local newspaper

Lesleyxx

lil_me

Catering from home for business use is a minefield the requirements for food safety are above what many have the facilities for at home.
Childminding/babysitting can be a good way of making extra money

I don't always find buying more expensive items which are supposed to be better quality cost effective, I've bought new/expensive/quality items in the last few years and had nothing but problems. My parents old dryer lasted 30 years, my new one which cost a fortune hasn't even lasted 3!!!

the_cat

Do you have any space for extra storage?

With prices for food almost certain to keep rising, would it be a good option to stockpile some tins/pulses/toiletries. Get a second freezer maybe and stock up on goods there also? It would help you greatly if you held a decent stock of basic foods if the worst were to happen and you did get made redundant.

Gena

I've been thinking about this lately (I like the phrase "spend to save") as I know that by this coming September our household income will go down and expenditure up....we've already said we'll have to get some money back that we'd put into the mortgage.:(
I have the option of saving like made until then to prolong the inevitable mortgage-increase for as long as possible, or do some of this "spend to save". It sounds like we could still do some things you've already done, so I'm afraid I can't think of any new ideas for you sorry.

Bargain_Rzl

Cooking is a good idea. I have no outside space so can't grow my own, but I can cook, and my colleague's just been allocated an allotment. We are in the early stages of striking a deal - he grows it, I cook it for his freezer, he pays me and I get to keep some of the ingredients for myself :T

janb5

Bargain rzl did you used to be on a competition website as I seem to recognize your name? If not just ignore me!

Mariel

This might be a silly idea - I don't have much of a clue about these things but could you put extra money into your pension?