Making savings before it's too late

Ooh yes, I do hope that this will be an ongoing thread. It will help me stay on track and hopefully I can pinch some good ideas from you clever ladies.

I am a widow of three and half years standing and am just starting to find my feet, making new friends and doing a bit of tentative socialising. I am quite good at handling money as a rule but like a few of you have mentioned, my “monetary policy” has been just a tad too relaxed this year.

I have been very generous with my children but thankfully they are now well established and won’t need any more financial input from me, I can just think about my own needs (and wants) from now on.

And yes I am going to include wants, I am not going to deprive myself of life’s little luxuries and treats. I still want to be able to go on holiday and get out and about. But.......and this is a big but.......I have been a bit too free and easy this year. I’m ok, no debts but I can definitely make my money work harder. There’s plenty of fat that can be trimmed. :rotfl: After my holiday in January. I shall definitely knuckle down when I get back.

I have already checked my accounts and worked out Where I can cut back and where I can make savings but also what investments I can make. For example I am going to rejoin the National Trust. Loads of properties to visit for cheap/free days out.

One of my challenges is not to buy any clothes next year. That really shouldn’t be difficult.....I have wardrobes full, enough to open a small boutique. :rotfl: so apart from undies I am aiming to “ shop from my wardrobe” next year.

I have brac a brac and jewellery to sell and enough books to start a library, so again no more buying books. So hopefully both money saved and cash raised there.

I have also started making more use of my bus pass for trips into the city. It’s actually not only cheaper but easier than using my car. I can get straight into the city centre without having to worry about where to park and paying exorbitant parking charges. And far less stressful. Win-win.

I am going to enjoy this challenge. All money saved will go towards my next big adventure........

I am off to the Amazon in January, wahoo......all paid for. So my saving efforts in 2018 will hopefully raise enough to see me in Canada in 2019. That’s my target.

lessonlearned wrote: »

And yes I am going to include wants, I am not going to deprive myself of life’s little luxuries and treats. I still want to be able to go on holiday and get out and about.

me too, life is too short. I bought a lifetime NT pass last year and also a lifetime share on a steam railway. Yes ok I splashed the cash but was still in the mindset after my husband died `why save`. That mindset has settled into reality thank goodness, however I am going to treat myself to a new house in the near future and when I am settled again, then I will actively save, like jackieO, for holidays

I too have helped my children with cash, they never asked btw. A lot of money but no more now and going forward, I will be sensible, having finally realised that my income and savings are a finite pot. Treats will be special and saved for and that will make them even more special

Kittie, I use MS Money as well and I enter credit card items as soon as I spend them. I have a Natwest Reward account where I get a credit card which gives me 1% cash back on all household direct debits plus supermarket spending and 0.5% everywhere else. I pay £2 per month for it but it's so worth it

After I've entered the spends in the credit card account in Money I do a transfer for a future date from the account that the direct debit will come from. That means the credit card balance is always zero in Money but my current account shows a future transfer equal to the credit card payment. I update the figure every time I enter a new transaction

This means I always know if I've spent a lot because my current account balance will be low projecting forward. It also tells me that some months I am 'riding the float' (a term they use in You Need A Budget) Lots of people swear by YNAB but I couldn't get on with it, prefer Money. But it does emphasise that you should live within your means for the current period and discourages managing your cash flow with a credit card. My approach also tells me when I am doing that and it does help me to tone down my online shopping

Kittie.......Thanks for the tip about cbd oil. I tried hemp oil (which I think is more or less the same) very good but it did upset my stomach. However, I was in the middle of an IBS flare up at the time so probably not a true test. I am going to try again after Christmas now my tummy has settled again. It certainly helped with the fibro when I tried it.

The problem is Fibro and IBS are sort of “sister” ailments. If you have one you often have the other. I did read that There is a theory that IBS is in fact a precursor to Fibro......I know that I had IBS first so maybe there is something in that theory.

Anyway thanks for the link because the one you have shown is actually quite a lot cheaper than the oil I tried. I paid £33 so quite a difference. I’ll see how I go.

I have wondered about a Roomba..next time I need a new hoover I might look at those. I currently have a Henry. I bought a special booster brush which has made using it a lot easier. It glides over the carpet easily and is very efficient at picking everything up.

One of my recent acquisitions has been a smart meter. They fit them for free.. I find it has helped me reduce my energy consumption, it does make you aware of how much “juice” you are consuming.

I have today reduced the heating thermostat by One degree. Can’t say I have noticed a difference, the house still feels nice and cosy, but then again it’s not quite as cold today as it has been. I’m afraid I refuse to be cold.......it makes my fibro worse if I get chilled.

TBH although my cleaner was helpful she only did the jobs she liked.....:rotfl: I often had to go round and do the bits she ignored.

I once asked her to do the oven because I just couldn’t reach without being in pain......talk about half hearted. :rotfl: i ended up having to do it again. If I struggle again I’ll just get one of those oven cleaning companies in but I think that as long as I keep on top of things then I should be ok.

I had a shocking first six months this year......enormously stressful and I think my health just took a battering. But hopefully now that life is on an even keel again I should be able to control both the fibro and the IBS. Don’t want to tempt fate but I now feel better than I have done for a long time. Long may it continue. .