FEB Penny Pincher challenge
xironsongx
Posts: 145 Forumite
The challenge
The aim of this challenge is to create a list of 15 tasks that you will aim to complete in the month to help you save money or to be more financially stable.
Guidance
The aim of this challenge is to create a list of 15 tasks that you will aim to complete in the month to help you save money or to be more financially stable.
Guidance
- There must be 15 items on your list
- Each task is worth 1 "point" . You will gain an extra 5 points for completing every task at least once.
- Please update us at least weekly with your current 'point' status so we can include you in our weekly tally
- Keep track of your tasks and how many times you have done them
- There isn't a limit to how many times you do the tasks as long as it helps you to save moeny in some ways
- You can include other challenges such as the sealed pot challenge, save £1 a day etc...
- Try to mix your list up to help you avoid being stuck in a rut
- Try to join in with our chats / coffee mornings as well as our mini challenges (Which won't always be money/finace based)
- you may change your list as needed
- Post your 15 tasks from the list below & act on them throughout the month.
- You will get given a number and the members list will be posted below.
- Be sure to keep us updated with your progress so we can add your points!
Engaged 01-09-17 Wedding £519.78 (BA) £80.22 (Sp) / £5,600 £5,000 left to save0
Comments
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Tasks
- Save all change in a piggy bank
- Re-use your own bags
- Buy own-brand food
- Buy in multipacks
- Have a certain amount of No Spend Days in the month
- Only allow yourself to have a certain amount to spend on yourself
- Put 10% away into savings
- Go on a spend freeze from an un-necessary item you usually buy (eg; coffee, energy drinks, snacks)
- Use receipt hog
- Use club-cards / loyalty cards to earn points
- Use club-cards/loyalty cards to spend points
- limit take-a-ways / fast food chains
- bring your own bottle to work
- take your own lunch to work
- meal plan
- Leave your card at home
- Check bank accounts frequently
- Stop your expensive habit (drinking / smoking / gaming)
- Cancel unused subscriptions
- Avoid online shops such as Ebay
- Create a shopping list & stick to it
- Only go shopping when there is 3+ items on the list
- Search for the item cheaper somewhere else
- Set up auto-payments to savings account
- Create accounts for bills, grocery shopping & allocate money in those accounts so you don't spend that money
- Keep an expense log
- use cash only
- Use the envelope system
- Use left overs / search for cheap meals
- Walk/carpool/get cheaper travel fares
- Don't buy branded clothes / keep a minimal wardrobe
- Find cheaper/free ways to listen to music
- Find cheaper/free ways to call/text/message
- Attend free local events
- Use voucher codes
- Use only free-to-use ATMs to withdraw money
- Check use by dates and get the longest date you can find on things like bread/milk
- Do any overtime you can
- Start a side hustle
- Sell unwanted items
- Create a plan for each day to avoid mindless spending
- Keep money in a holding pot (Kids lunch money, milk when you've run out, bus fare)
- open a "save the change" account" (Lloyds bank and TSB does this)
- use up toiletries
- use up stationary
- Do surveys
- Check cheapest petrol prices before filling car up.
- Air dry
- Buy cheaper house hold cleaning items
- Create a zero based budget
Members
01. xironsongx 0 pts Engaged 01-09-17 Wedding £519.78 (BA) £80.22 (Sp) / £5,600 £5,000 left to save0
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