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  • FIRST POST
    • Coxy11
    • By Coxy11 29th Sep 12, 6:55 PM
    • 2,300Posts
    • 27,322Thanks
    Coxy11
    Second Purse Challenge Thread #2
    • #1
    • 29th Sep 12, 6:55 PM
    Second Purse Challenge Thread #2 29th Sep 12 at 6:55 PM
    Hi there,

    This is a continuation of the thread that Kerri_dfw started at the beginning of 2012.

    Please take some time to read how Mothership's second purse system works, and feel free to ask any questions you may have. We love to help

    For those following the original thread if okay with you, shall we keep a track of our totals in our own signatures? I will list the original members in the next thread. Please let me know if you wish to be removed - thanks
    Cross-stitch WIP #1: Collecting Shells by Nancy Cole
    Cross-stitch WIP #2: Pretty Little London by Satsuma Street
Page 1
    • Coxy11
    • By Coxy11 29th Sep 12, 6:59 PM
    • 2,300 Posts
    • 27,322 Thanks
    Coxy11
    • #2
    • 29th Sep 12, 6:59 PM
    • #2
    • 29th Sep 12, 6:59 PM
    Second Purse Challenge 2012
    I thought I'd compile a thread for anyone wanting to start motherships second purse system as a challenge

    If you wish to sign up then state what your dream item that you will buy with your saved 's will be and how much it costs. I will allocate you a number and as your 3rd purse grows I will update the total until you post to say that you have achieved your dream item and would like to set a 2nd dream item as your next target

    How the 2nd purse works:

    Second purse example spreadsheet

    If you'd like to do the 2nd purse challenge it's really quite simple and you can start small. You can even download a copy of the above spreadsheet for your own use, or use your own or even paper and pen.

    For this to work effectively, imagine you are two people, firstly a shopkeeper, secondly a customer. Your 2nd purse is the shop till, your 1st purse is your grocery budget, the 3rd purse is the cash office where the money is stored when there's too much in the till before being spent or saved.
    Quote:
    Originally Posted by Mothership
    This is how the 2nd Purse works1st Month
    Add 10. Spend 10 on offers B1G1F or Half Price.
    Your Stock is worth 20.
    You use 5 worth, that’s what you pay back, your stock is worth 15

    2nd Month
    Add 10 to the 5 you paid back, you now have 15 to spend on offers.
    Spend 15, your stock is now worth 45
    If you use 10 worth, and pay that back when you get paid.
    You will have 10 in 2nd Purse. 35 of stock

    3rd Month
    Add 10 to the 10 you paid back, you now have 20 to spend on offers.
    Spend 20 , your stock is now worth 75
    If you use 20 worth, and pay it back when you get paid.
    You will have 20 in 2nd Purse. 55 of stock

    4th Month
    Add 10 to the 20 you paid back, you now have 30 to spend on offers.
    Spend 30 , your stock is now worth 115
    If you use 25 worth, and pay it back when you get paid
    You will have 25 in 2nd Purse . 90 of stock

    5th Month
    Add 10 to the 25 you paid back , you now have 35 to spend on offers.
    Spend 35, your stock is now worth 160
    If you use 30 worth , and pay it back when you get paid
    You will have 30 in 2nd Purse. 130 in stock.

    6th month
    Add 10 to the 30 you paid back. You now have 40 to spend on offers
    Spend 40, your stock is now worth 210
    If you use 40 worth, and pay it back when you get paid.
    You will have 40 in 2nd Purse. 170 in stock.

    7th month
    Add 10 to the 40 you paid back. You now have 50 to spend on offers
    Spend 50, your stock is now worth 270
    If you use 50 worth, and pay it back when you get paid.
    You will have 50 in 2nd Purse. 220 in stock

    8th month
    Add 10 to the 50 you paid back. You now have 60 to spend on offers
    Spend 60, your stock is now worth 340
    If you use 60 worth, and pay it back when you get paid.
    You will have 60 in 2nd Purse. 280 in stock.

    I think this is the easiest way to show how the 2nd Purse works, you don’t always spend all money in the 2nd Purse every month. So I’ve not allowed for that, or that some of you already had a good starting stock.
    The 2nd Purse is the working part of the idea, don’t be afraid to spend this on bargains. Let it flow.
    I know some of you don’t want to PAY full price for anything, even to yourself.
    As long as you got it at a good price to start with. That’s what you’ve paid. That amount can never go up.
    Remember once the money goes into the 2nd Purse it can only make you stronger, more money , more stock = Less of your hard earned money going to the SM.
    Once they have it its lost, if you have it, whether in stock or in the purse , you STILL
    have it!

    The idea works because the money your making is going round and round, Spend 10 make 10, spend 20 make 20, spend 40 make 40. And so on. You are re-investing your savings in YOU!

    When you have a set amount in your 2nd purse, mine's 100, then you move anything over this into the 3rd purse to save up and spend as you choose

    Mothership's 2nd Purse system - check out these posts

    Please read the two posts for the weekly shop example to get a good idea how Mothership has managed to cut her weekly grocery shop using the 2nd purse system
    Motherships typical weekly shop example post 1
    Motherships typical weekly shop example post 2

    My other purse
    Purse/Bank
    tip 1
    2nd Purse
    Bogofs etc
    more info

    Useful Links
    Grabbits board
    Food Shopping & Groceries
    Shop but don't drop
    Donald Russell for bulk meat (links to motherships post) - free delivery code = win12e1530
    Camelcamelcamel to check for price fluctuations in the rainforest
    mysupermarket to check the big 5 for prices
    Just Linen discount excellent quality bedding
    Last edited by Coxy11; 17-05-2013 at 9:01 PM.
    Cross-stitch WIP #1: Collecting Shells by Nancy Cole
    Cross-stitch WIP #2: Pretty Little London by Satsuma Street
    • Coxy11
    • By Coxy11 29th Sep 12, 7:02 PM
    • 2,300 Posts
    • 27,322 Thanks
    Coxy11
    • #3
    • 29th Sep 12, 7:02 PM
    • #3
    • 29th Sep 12, 7:02 PM
    List of participants and the items they've bought with their 3rd purse

    #005 Mothership | Suzie's Cafe
    #016 coxy11 | CAZCO | KitchenAid Candy Apple Red/Ski wear for the family/Nomination charms

    #061 Skilly
    #062 Mossy
    #068 dollydog |Dolly's Emporium| 200
    #069 Billie-jo
    #070 alibo100
    #071 EstherH |Esther's Bagels|
    #072 Always after a bargin
    #073 Tenyearstogo || Freezer
    #074 lottie3000 |Cherry Corner|
    #075 fuddle |The Cupboard Store| Bed
    #076 hollieinbloom |Helen's Hoard|
    #077 tattycath |Tatty's Shop|500 for Christmas
    Last edited by Coxy11; 03-07-2013 at 3:46 PM.
    Cross-stitch WIP #1: Collecting Shells by Nancy Cole
    Cross-stitch WIP #2: Pretty Little London by Satsuma Street
    • redfox
    • By redfox 29th Sep 12, 7:16 PM
    • 14,169 Posts
    • 38,130 Thanks
    redfox
    • #4
    • 29th Sep 12, 7:16 PM
    • #4
    • 29th Sep 12, 7:16 PM
    I'll make this one a sticky now and move the old one to Gone Off.
    I'm a Board Guide on the Quick Grabbit, Food Shopping & Groceries, Shop but don't drop, Loans and Cutting Tax boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this) Any views are mine and not the official line of MoneySavingExpert.

    • skilly
    • By skilly 29th Sep 12, 7:56 PM
    • 882 Posts
    • 10,225 Thanks
    skilly
    • #5
    • 29th Sep 12, 7:56 PM
    • #5
    • 29th Sep 12, 7:56 PM
    Hi ,coxy11 thanks for starting second purse no 2 .
    27 Sealed pot challenge 3496/4706.75/5 376.74/6 645.08/ 7 861.34 /8 786.90/9610.49/10 722.03 / 11? / gold star from sue
    • AlwaysHappy
    • By AlwaysHappy 30th Sep 12, 9:08 AM
    • 1,487 Posts
    • 11,732 Thanks
    AlwaysHappy
    • #6
    • 30th Sep 12, 9:08 AM
    • #6
    • 30th Sep 12, 9:08 AM
    Thanks for starting the new thread
    I'm not a failure if I don't make it, I'm a success because I :tried!
    • ej22
    • By ej22 30th Sep 12, 2:05 PM
    • 46 Posts
    • 463 Thanks
    ej22
    • #7
    • 30th Sep 12, 2:05 PM
    • #7
    • 30th Sep 12, 2:05 PM
    Hi everyone,
    I think it has taken me the longest time to get my head around the second purse challenge, but I think I finally got it.lol

    I would like to invest 5 pounds per week, maybe 10.
    Do I write this into my signature myself and update it or do I have to tell somebody on here about it?
    Sorry, I am new.lol
    OD 0/1500
    CC 0/1300

    November 2015 challenge 56.83/200pounds
    emergency savings 0/1000
    Losing weight 0/40kg
    • Coxy11
    • By Coxy11 30th Sep 12, 2:22 PM
    • 2,300 Posts
    • 27,322 Thanks
    Coxy11
    • #8
    • 30th Sep 12, 2:22 PM
    • #8
    • 30th Sep 12, 2:22 PM
    Hello ej22 - not stalking you - honest

    If you want I can allocate you the next number on the list. Let me know what your 'shop' is called if you have a name for it hehe and what you will buy with your savings

    Coxy
    Cross-stitch WIP #1: Collecting Shells by Nancy Cole
    Cross-stitch WIP #2: Pretty Little London by Satsuma Street
    • ej22
    • By ej22 30th Sep 12, 4:07 PM
    • 46 Posts
    • 463 Thanks
    ej22
    • #9
    • 30th Sep 12, 4:07 PM
    • #9
    • 30th Sep 12, 4:07 PM
    hi coxy, nice to see a familiar face.

    My shop would be called Ebs please and I am saving up for Butlins,
    thanks
    OD 0/1500
    CC 0/1300

    November 2015 challenge 56.83/200pounds
    emergency savings 0/1000
    Losing weight 0/40kg
  • Mothership
    Helooooooooooooooo!
    just checking in
    1st Purse 114.19 Monthly GB
    2nd Purse 100
    Fridge Freezer 300 3rd Purse /290.94
  • archived user
    Hi all, No56 checking in, thanks for continuing the thread Coxy11
    Rosy x
    • Coxy11
    • By Coxy11 1st Oct 12, 2:04 PM
    • 2,300 Posts
    • 27,322 Thanks
    Coxy11
    Hello everyone - I do hope Kerri doesn't mind me starting this new thread?

    Nothing much to report except that as it's the 1st of the month, another 20 has gone into the 2nd purse, so total is 47 odd. MrW have my coffee refills on special so may well pop there after the school run/tomorrow. I want to do a small DR order to come next week - have one coming this Friday, just sausages (love them!) and beef meatballs. I might get some casserole beef if it's on offer

    Hope everyone is doing well.

    Coxy
    Cross-stitch WIP #1: Collecting Shells by Nancy Cole
    Cross-stitch WIP #2: Pretty Little London by Satsuma Street
  • scrabbles
    Hi all, just letting you know I am still here!

    Well sadly OH found out today that he is indeed being made redundant So ScrabbleStores will come in darn useful - I can eke things out for a few months, I think, without having to spend too much. The way the job situation is here it could be a while before he finds work again
    • Coxy11
    • By Coxy11 3rd Oct 12, 4:13 PM
    • 2,300 Posts
    • 27,322 Thanks
    Coxy11
    Sorry to hear that scrabbles. Not sure my stores would last that long with the gannets here! Sending (((hugs))) to you and yours x

    I went to MrW just before the afternoon school run and got 4 x Kenko refills - they are 2.92 - cheapest I've seen, usually MrT does them at 3 if they reduce them. Made the mistake of getting some in W!lko once thinking they were a bargain, then realised they were the smaller size doh!

    Off to Co$tco tomorrow so may look at their meat before committing to another DR order. I have 36 left in the 2nd purse, and have started another 3rd purse with 14 odd. What shall I buy next I wonder....

    Hope all are okay
    Coxy
    Cross-stitch WIP #1: Collecting Shells by Nancy Cole
    Cross-stitch WIP #2: Pretty Little London by Satsuma Street
  • scrabbles
    Thanks Coxy - I feel a little more positive today than yesterday I do feel so grateful for my stockpile though! Whatever else may happen, we certainly won't starve...

    Costco meat is pretty good. The best value is from buying a big hunk of meat and chopping it yourself, it also means you can cut it as thick or thin as you like (best make sure no gannets are around at this point, as they'll demand bigger portions)
    Big tip - the cheapest cut is the flank, if you cut it against the grain it's frying steak or you can slow-cook it as a joint or cube it for casserole steak. It's really good considering the price.
    • Coxy11
    • By Coxy11 3rd Oct 12, 5:10 PM
    • 2,300 Posts
    • 27,322 Thanks
    Coxy11
    Thanks scrabbles, that's good to know. I'm from the generation that only used to buy from a SM and had it all pretty packaged for me with instructions I've only in recent years been in a butcher and only then for my Christmas turkey! Sad but true.....

    Forgot to add that I also spent 3.16 from 2nd purse in MrT buying 4 x 3kg of dishwasher salt. It was on Martin's weekly email. SEL said 1.54 but I self-scanned it and it came through at 79p a bag We have very hard water so have to top up the machine about twice a week

    Coxy
    Cross-stitch WIP #1: Collecting Shells by Nancy Cole
    Cross-stitch WIP #2: Pretty Little London by Satsuma Street
    • skilly
    • By skilly 4th Oct 12, 8:36 AM
    • 882 Posts
    • 10,225 Thanks
    skilly
    Morning all, scrabbles sorry to hear about your oh :-( my oh was ill for nine weeks with out any money coming in ( Self-employed) My Stores was a god send Would never have managed without it . Been shopping bought
    6 comfort 18.00 big ones
    36 tins of pears 15p 5.40
    2 washing liquids 4
    2 cooking oils 4
    12 tins of carrots. 2.40
    So have spent 33.80 to come out of second purse . Will update in a later .
    Last edited by skilly; 04-10-2012 at 8:40 AM. Reason: Wrong price added
    27 Sealed pot challenge 3496/4706.75/5 376.74/6 645.08/ 7 861.34 /8 786.90/9610.49/10 722.03 / 11? / gold star from sue
    • Coxy11
    • By Coxy11 4th Oct 12, 1:02 PM
    • 2,300 Posts
    • 27,322 Thanks
    Coxy11
    Hi all,

    Just back from Co$tco - not such a pleasurable experience with DS1 (13) in tow. However, I was very good and got the youth club tuck that I needed, plus a nice pork belly joint for the weekend. In terms of 2nd purse I just got some cereal which was good value. Totals updated.

    Coxy
    Cross-stitch WIP #1: Collecting Shells by Nancy Cole
    Cross-stitch WIP #2: Pretty Little London by Satsuma Street
    • Coxy11
    • By Coxy11 4th Oct 12, 8:12 PM
    • 2,300 Posts
    • 27,322 Thanks
    Coxy11
    Me again

    In the past week I have been sent two emails from DR with a free delivery code, so I've taken the plunge and ordered another delivery for 12th Oct (order also coming tomorrow). This time I've ordered minced steak x 8 and beef shin x 4. This has wiped out 2nd purse, but I'm paying back for stock used every 2-3 days which means I'm winning - just.....

    Slowly getting through the stock of sliced rolls I got on ys during the summer hols. Have enough to last to half term. Also juice cartons from Co$tco have been a god send as things like that really bump up the weekly shop. Other than that it's just storecupboard bits like olive oil, cereal and loo roll that keep things ticking over.

    Enough rambling, sorry!

    Off to update sig.
    Cross-stitch WIP #1: Collecting Shells by Nancy Cole
    Cross-stitch WIP #2: Pretty Little London by Satsuma Street
  • archived user
    Me again

    In the past week I have been sent two emails from DR with a free delivery code, so I've taken the plunge and ordered another delivery for 12th Oct (order also coming tomorrow). This time I've ordered minced steak x 8 and beef shin x 4. This has wiped out 2nd purse, but I'm paying back for stock used every 2-3 days which means I'm winning - just.....
    Originally posted by Coxy11
    I love DR mince, it takes cottage pie to a whole new dimension
    My freezer's full so I can't take advantage of their offers right now but they seem to do a lot of offers so hopefully I'll be OK. As you know I haven't got a proper 2nd purse 'cos I'm too disorganised, but when I make a bulk purchase I throw the savings into my sealed pot and it's getting really heavy roll on Opening Day
    Rx
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