2018 Frugal Living Challenge

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  • spudsmum
    spudsmum Posts: 584 Forumite
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    I've finally sat down and done my budget today. On paper we should have loads of money but the reality definitely does not measure up.

    After taking off essentials (mortgage etc) our budget has come out at £10,400 for the year (£867 per month) - does that seem crazily high?

    I know I've seen a lot of posts where people have budgets of £4k or £5k but I just cant seem to get anywhere close :( Our food spend alone is £70 per week or £3640 per year!

    Hey ho. Will not be downhearted. Will jusy try to shave money off this where I can to divert to debt payments.
    Total debts £21050! :eek: now £10941. 76. Total extra income made in Jan22 £109. 27 Feb 22 £45.25 Total extra income made in 2022 £154.52 Aiming for debt free at 45 - 41 months to go!
  • DawnW
    DawnW Posts: 7,440 Forumite
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    spudsmum wrote: »
    I've finally sat down and done my budget today. On paper we should have loads of money but the reality definitely does not measure up.

    After taking off essentials (mortgage etc) our budget has come out at £10,400 for the year (£867 per month) - does that seem crazily high?

    I know I've seen a lot of posts where people have budgets of £4k or £5k but I just cant seem to get anywhere close :( Our food spend alone is £70 per week or £3640 per year!

    Hey ho. Will not be downhearted. Will jusy try to shave money off this where I can to divert to debt payments.

    People's budgets will vary according to their circumstances though :) If you are a couple with children, you are bound to need more than, for example, a single person would :)
  • Moll
    Moll Posts: 445 Forumite
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    After taking off essentials (mortgage etc) our budget has come out at £10,400 for the year (£867 per month) - does that seem crazily high?



    Our budget is roughly the same as yours for the year / In fact its slightly higher , Onwards and Upwards, . as you say we'll just have to shave it off where we can . We can do it , especially with all the help and ideas from everyone on here x x x
  • sinkorswim2018
    sinkorswim2018 Posts: 140 Forumite
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    Does anyone have a link to the spreadsheet mentioned? thanks.
  • spudsmum
    spudsmum Posts: 584 Forumite
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    DawnW wrote: »
    People's budgets will vary according to their circumstances though :) If you are a couple with children, you are bound to need more than, for example, a single person would :)

    Thanks Dawn,

    Yes, we have three kids (including two still in nappies and growing faster than their clothing can keep up) so I guess thats where a lot of the money goes.

    Its just hard not to compare yourself to others and wonder why you're not doing as well as they are. Must remember everyonr's circumstances are different :o
    Total debts £21050! :eek: now £10941. 76. Total extra income made in Jan22 £109. 27 Feb 22 £45.25 Total extra income made in 2022 £154.52 Aiming for debt free at 45 - 41 months to go!
  • spudsmum
    spudsmum Posts: 584 Forumite
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    Moll wrote: »
    After taking off essentials (mortgage etc) our budget has come out at £10,400 for the year (£867 per month) - does that seem crazily high?



    Our budget is roughly the same as yours for the year / In fact its slightly higher , Onwards and Upwards, . as you say we'll just have to shave it off where we can . We can do it , especially with all the help and ideas from everyone on here x x x

    Thanks Moll,

    Good to hear its not just me! Being positive I'm hoping a larger budget gives me more scope to shave things off.

    I'm hoping I can get it down bit by bit and funnel the savings towards my debt.

    You are completely right - with the support on here we will do it x
    Total debts £21050! :eek: now £10941. 76. Total extra income made in Jan22 £109. 27 Feb 22 £45.25 Total extra income made in 2022 £154.52 Aiming for debt free at 45 - 41 months to go!
  • Fizzyisbusy
    Fizzyisbusy Posts: 16 Forumite
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    Hi All!

    Well, as I said before, Its been expensive month for me, and February also is looking tricky, not as bad as January though!
    So, my plan going forward is to note the bills etc that have come in these first two months of the year and try to incorporate that knowledge into saving rest of year! Its been a bit of a blow to realise my good intentions have been scuppered by my own lack of knowledge, but hey ho, on we go!

    Loving this challenge and spreadsheet as its totally got me thinking and seeing whats going on.:j

    Hope everyone is ok and enjoying a little bit of sunshine even though its very cold here in the Cairngorms!

    Fizzyisbusy
  • Frugaldom
    Frugaldom Posts: 6,939 Forumite
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    Tanya12345 wrote: »
    A...if I am organised and mindful...

    Organisation and mindfulness - two of the greatest things we can have and both are totally FREE. You're doing great in even acknowledging these powerful moneysaving tools. :D
    spudsmum wrote: »
    ... I know I've seen a lot of posts where people have budgets of £4k or £5k but I just cant seem to get anywhere close :( Our food spend alone is £70 per week or £3640 per year!

    Guilty as charged, but my £4,000 budget (£5,000 including council tax) came about as it was all I had after paying bills and repayments, so after many years of practice and the arrival of total debt freedom, all I really need now is food, shelter and energy. I budget £1 per person per day for groceries and it still works if I batch cook, avoid 20% VAT goods and adapt the diet to fit in with current offers and trends. It's a lifestyle choice that sticks after a while and allows all other money to go on much better things, of which I have many. :D
    sinkorswim2018 wrote: »
    Does anyone have a link to the spreadsheet mentioned? thanks.

    In the very first page, posts 1 and 2 are the intrductions and challenger lists, there's a free link to the simple spreadsheet. :)
    I reserve the right not to spend.
    The less I spend, the more I can afford.

    Frugal living challenge - living on £4000 in 2024
  • Frugaldom
    Frugaldom Posts: 6,939 Forumite
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    With the end of the month looming, this week can seem like a windfall if salaries hit the bank and you're still revved up on optimism, good intentions and some spare cash left over. (Don't be tempted to blow it on a celebraory takeaway or night out, though.:o) Congratulations to all who have made it this far - many may have already forgotten their good intentions until their next financial crisis, but that is NORMAL.

    It can take many months of careful budgeting, number crunching and note keeping just to establish even an idea of where all the money goes each week / month / year - give it all time and keep notes of every penny in and out so you are eventually controlling your household budget instead of allowing it to control you. Financial freedom isn't just freedom from debt, it is an entire lifestyle choice - choosing to be mindful of your personal spending and not being bullied into buying or paying for goods and services that are not contributing to your ability to stay alive. ;) Lifestlyes in any way, shape or form are NORMAL.

    It's the basic difference between needs and wants... if we focus all of our attention on what we need for survival while budgeting to make our survival comfortable and convenient wherever possible, then we know there will always be space for cutting down further in preparation for the future. Worrying about the future with the potential for letting it get you down is NORMAL.

    Children cost a fortune - nappies, food, formula (if you use it), and then it scales up as they grow. Mine are now 28 and 30, I have 4 grand children so far and trust me, the cost never goes down, it only ever escalates. Being prepared for that wasn't something I had even contemplated when I first set out on my journey. But it's NORMAL. :)

    So, in conclusion to this waffle, I'd just like to say that all things relating to how you think, feel or act are NORMAL. Money isn't evil - we all need it - it is how we deal with it that can set us free from debt and on the path to a better future. You may encounter many others who see the frugal lifestyle as weird, odd, eccentric, crazy, mean, self-imposed misery, but all of us participating in this challenge or partaking of this lifestyle (it is no longer a challenge when it's your lifestyle) are all in it together. We are NORMAL! Even if we are rescuing, reusing, recycling, renovaing, reclaiming or repairing what others consider rubbish. :T:j:beer:;):D

    Sorry for the waffle but I love the frugal lifestyle. Whenever anyone tries to cast a shadow over it, we need to be there for them, to help them understand that they can be normal, too. :rotfl: Welcome to the wonderful world of frugaldom.
    I reserve the right not to spend.
    The less I spend, the more I can afford.

    Frugal living challenge - living on £4000 in 2024
  • sinkorswim2018
    sinkorswim2018 Posts: 140 Forumite
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    Well said Frugaldom, and thanks for the reply (spread sheets). I think I'm going to make it on budget and I haven't missed out, just made different choices. Felt quite smug in my £4 dress at work today (CS) and my beautiful Hobb's dress when taken out the other day (Fleabay).
    For me it's about maintaining my lifestyle for less... allowing me to clear those credit cards and then get some jobs done on the house.
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