I'm spending today reducing my outgoings.(67 Posts)
Right. Inspired by various threads on here I'm going to sit down and cut my monthly outgoings. DH is fully on-board.
First is our Virgin deal. We don't use the TiVo properly and it cost £80 a month with broadband. We can cut that, get Now TV and use Netflix. Should save £50 a month at least.
I'm can cancel my NT membership. £100 a year. We haven't used it in years. Kids find it boring.
Doing a full freezer and cupboard trawl later. I've got more tinned tomatoes than I know what to do with.
We meal plan anyway but we can get tighter. We use Asda but I reckon abut more Aldi will save money (as long as I keep away from their bloody gardening deals). I'm going to make some 30 minute bread rolls for packed lunches (thanks to www.mortgagefreeinthree.com).
I will be going through cupboards and selling stuff on eBay. Dd often gets lovely stuff from rellies for Christmas but she's outgrown lots so will sell it.
Our mortgage provider is helping us with a new mortgage deal which will save us £30 a month too.
No meals out this month. Packed lunches as standard. We don't buy coffees out anyway.
Does anyone else have any ideas?
Bloody hell - I can't even type the heading correctly! Today I'm cutting down on my outgoings. Or, in other words, reducing what I spend
What about your utilities. If you haven't switched in years you are probably paying too much as energy prices have been falling.
Are your car/ house insurance renewals due? I saved £300 on my contents insurance last week by spending an hour on go compare.
Are you with the best utility company? Uswitch are great for comparing. I've saved £1500 in a year
Great ideas - thank you both.
We haven't checked / compared utilities in years. Would MSE be helpful in that respect?
Contents insurance due in November and tbh I haven't checked that in the last two years. Does it make a difference if I change policies before the current policy finishes, ie; are there penalties?
Money supermarket is another comparison website.
Do the MSE budget brain. Works out your budget with tips at each stage on saving money
Mse energy club is whole of market, compare the price using a seperate gas and electric supplier as well as dual fuel.
The suppliers I use were not on uswitch.
I would change insurances at renewal.
We use sits like topcashback when buying insurance for car and house, we also use it for shopping when we can. Last year we got £150 bsck on our car insurance alone and we both paid less than £100 a year for full comprehensive cover with Aviva via topcashback.
TheDrsDocMartens - that's my problem. Up until recently I don't have a brain for budgets
spendthrift but I'm trying to get better now. I'll check this out - thanks.
Peggys I'd never thought to use cash back for insurance. I use it for other stuff (when I remember) but insurance is genius. Thank you.
Use approved foods for buying things like crisps, toiletries etc. They sell stuff that is up to its display by/BBE date but not its use by date so it's fine to eat.
That all sounds great but i would just say:
Aldi & Lidl (Stores like them)
Everyone goes on about how great they are, how cheap they are,
"I saved £100 a week when i swapped to Lidl"
All true...... Depending what you buy.
If you compare the cost of items in Aldi and Lidl to Brand names or the upper scale of Supermarket own brand, yes you will save money, if you compare it to the other supermarket home brands though you may find that Asda or Tesco can work out just as cheap, sometimes cheaper as it seems Tesco and Asda have the power to do better deals (Iyswim?)
It seems to get overlooked a lot that Aldi and Lidl pretty much only do own brand, so compare own brand to own brand and you'll get a much better idea of what is better value.
When shopping, try to keep an eye on the small prices. EG: coffee.
if you look at the per Gram price on coffee as opposed to the price of the jar you can often find spending a few pence more actually saves you 20p in the long run. Same with everything, Cheese at Tesco could be £2.50 a block and Asda it could be £2.75 but the smaller price shows that Tesco is 75p per Gram, Asda is 50p per gram, so really you're better off buying the "More expensive" If that makes sense. (Obviously those figures aren't actual, i made them up )
Also, slow cookers and frozen stuff.
Slow cookers are great.
EG: Simple Bolognese.
Mince £3 for 750g
2 tinned chop toms 35p
1 passata 40p
hand ful of frozen diced onion (pennies)
Handful of frozen veg (Pennies)
Fry the mince, bung everything in the slow cooker.
first night have 2 spoons each with spaghetti.
2nd night have the remainder in a bowl with garlic bread (32p)
Total cost per meal per night about 70p each.
(This is based on the 3 of us obviously so will need adjusting if there's more in your family etc.)
Frozen veg, frozen onions, frozen peppers are all pretty cheap from tesco and can be used in lots of things.
heat a pan, chuck in a few peppers, pour over whisked egg and you have a tasty omelette snack for about 20p
Weirdly, instant mash is also a good idea to keep. It costs about 80p, serves 4, but unlike spuds it never goes off, never shoots little shoots etc so never causes waste. so if, like me, you plan a fortnightly meal plan you can still have pie and mash even 2 weeks after the shopping is delivered. (Frozen pies from Tesco £1 for 4, mash 80p, frozen veg £1 (use at most a quarter so 25p) Gravy, a few pence Total price £2ish, divided by the three of us, 67p each)
Then theres the easy peasy chicken and trimmings.
Frozen chicken strips (they're already cooked so just bung them in the slow cooker with some water)
Chuck in some veg and leave it for a few hours.
when ready to serve, thicken the water with gravy.
Serve with Stuffing and mash.
Second day have as a type of stew with crusty bread
Chicken £2, veg 50p for half a bag, stuffing i think 75p, mash 80p, total £4ish, divided by 2 days, £2ish, divided by the three of us, 70p a meal.
Other things you could do.
Go Pay as you go. Total cost per month for my phone £4 (£1 a week with EE)
EE give you things called boosts, every 12 weeks i get to boost minutes, texts or data, I currently get more than i need on all of them (but i'm no social butterfly and hardly use 10 texts a month)
Drop TV and Phone from your Virgin and get the Broadband only deal.
It cost us around £35 per month for fast internet.
Drop TV License and instead of giving BBC £12 a month use it for Now TV and Netflix. (obviously if there are things you can't live without on the BBc then this isn't a great idea)
Change Gas and Electricty and call them to check tariffs. We're on a pay and go meter system and when we moved in here we were spending £20 a week on gas alone, we called and told them and they checked our tariff, we now spend about £10 a week.
If you have a car.... Use it as little as possible. When you're sat at the lights or in traffic or anywhere else you don't move towards your destination, count to yourself and every time you reach 10, throw a penny out of the window. (in your mind obvioulsy) Do that for a week and you may find that your car has cost you 10-20p so in a month it's cost you 40 - 80p, not alot no, but it's total waste, you weren't getting nearer to your destination, you were just sat there, thats money that could have paid for 2 days worth of cheap main meals for you and your family.
(the 1p every 10seconds is just a rough guid of total cost of sitting in traffic. petrol burning, tax outlay, mot outlay, insurance cost etc. if you look hard at cars they cost an awful lot. even just sat, doing nothing right now, it's costing you money every second)
Clothes, before heading to Next to get jeans or basic stuff, check a few charity shops. Quite often you can find decent jeans and brands in them for less than a £5 per item. (I found a Monsoon coat in one a couple weeks ago, knee length black style thingy, it cost £3.75)
think i'll stop there, this post got very long, sorry.
That's a good point about Aldi vs other supermarkets, I've even found some of the things are better value in Waitrose!
Seeyou that's all very helpful, thank you! I'm not bad with checking price per 100g rather than jar/ packet cost but a useful reminder! Interesting point about the costs of basics too - I will def check that out.
I've tried a slow cooker in the past but couldn't get on with it. I need to try and re-visit that. My DM gave me her pressure cooker to try but it has no instructions
and I'm a wimp and frightened of blowing the house up.
Read the mse money makeover before you start.
Have you changed bank accounts recently? I got £250 before Xmas by switching.
And I don't mind a good charity shop forage. If I have the time I thoroughly enjoy a good jaunt around our local charity shops. I picked up a jacket recently for a fiver which I love.
My main downfall (well, one of many if I'm honest ) is the 'nipping out for milk' and then spending £25-30 on other 'bits'. Argh.
PurpleRibbons and Thatstoast - thank you. Lots of things to think about and look up.
Print out a list of your direct debits/standing orders include anything paid yearly and then try and reduce each and every one.
We also worked out that dh was spending £300 pcm , well over £3,000 a year in coffee shops. He cut it to once a day and no cake or biscuit (I batch make muffins freeze them and he takes one every day
three ). He can spend on what he likes but that horrified him. We also cut out Sunday papers and use our kindles.
Forgot to add we also channelled all the savings straight to the mortgage and cleared it three years early.
I was going to suggest swapping bank accounts, I forgot that regularly just to get the money then I swap again.
Lightening did you say £300 a month? Bloody hell. What a great saving. That's a great idea to channel savings into our mortgage. I think DH would embrace that too.
I will be making some stuff for the freezer later. Muffins etc for snacks is a good idea. I have a ton of frozen bananas which would be perfect for that.
I've been with the same bank for over 20 years. I'm always in overdraft. Would any bank take me on??
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