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Stretching your budget? Share tips and advice to discuss budgeting and energy saving here. For the latest deals and discounts, sign up for Mumsnet Moneysaver emails.

Budgeting

13 replies

Garlickmayo · 13/10/2023 13:17

Hi lovely people! Any advice on what we can cut out to save money. We have three teens. Both work full time but struggling financially. Thank you so much for any top tips.

OP posts:
ODFOx · 13/10/2023 13:24

Make sure that you have the best available deals for energy, mortgage, insurance, phones and broadband.
Don't get rid of anything until it's been on Facebook marketplace for a couple of weeks.
Don't drive if it's walkable.
Cut out regular small treats that you won't remember for bigger things that you will.
Check the food and recipes board for thrifty ways to fill up hollow-legged teens and save on your food bill generally.

MikeRafone · 13/10/2023 17:24

How many mobile phones are you paying for and what do they cost?
what is your weekly grocery shopping for the household?
how many cars do you have?

MikeRafone · 13/10/2023 17:26

how many takeaways do you have a month?
how many outings do you have a month?
how much is your car insurance, life insurance. building and contents insurance?

Summerslimtime · 13/10/2023 17:32

Put it all in a spreadsheet and see what's what. We pool all our money, then what's left is split in half. Apart from our mortgage our biggest outgoings are food and debt. We shop online so can easily control that outgoing and can reduce it if having a tight month.

Wolfen · 13/10/2023 17:38

Do your teens have jobs?
That would help as they could start managing some of their own expenses.
What things do you think you could save on?
Do they have bikes? I've cut down on giving them lifts and expect them to cycle themselves

We save mainly in food. things like takeaways once a month, less rubbish snacks and more filling meals if they're hungry.
Less crisps, biscuits and things like that.
Keep things like pasta salad, cooked shredded chicken, bread rolls, eggs and salad instead.
Bake cakes or biscuits using basic ingredients. These seem more filling than shop bought.

KievLoverTwo · 13/10/2023 18:56

Buy pricier household items in bulk.

I use a skin cream that costs £6, I usually always get it for £3 because I watch three places like a hawk. For about six months there were no offers to be had so when they came back I ordered 24. Same with deodorant, shampoo that is usually £7 a bottle etc.

Tin foil has gone through the roof. Do you have a booker or a macro? A few years back I basically made up a business and registered, they have never asked for proof. Our local Booker is the only place we are guaranteed crystal fresh veg and they sell some of it in vast boxes. Massive bags of mixed salads. Anyway their catering foil is something like £15-20 a box but it's big and long and doesn't tear like supermarket tat so is cost effective.

One thing the other half and I do is discuss any orders over twenty quid. Do we really need that new electronic thing that's £30 or have we been doing fine without it? We were hemmoraging money on Amazon because it's so convenient. Now we have discussions, we order a lot less.

Cleaners, I just ordered X2 five litre bottles of Ecover lemongrass, 25ml goes in a half litre bucket. I have diluted it and put it in old spray bottles for general purpose stuff like sinks, sideboards, stuff not too sticky or messy. Very cost effective.

Obviously look at any 2 for 1 deals in minute detail because supermarkets go out of their way to make you feel you are getting a bargain but actually aren't.

This is a bit extreme but I also transfer 2/3rds of our spending money for the month straight into our savings account on payday. Not only does it earn me more interest than I would otherwise get, but when I start transferring chunks over as the month progresses, we again have a discussion about it. I reckon by having to take a conscious decision to spend more money, we are probably spending a good 30-40 % less, purely because it is deeply satisfying seeing those savings grow so quickly.

Garlickmayo · 13/10/2023 22:35

Thank you so much. Love the tips about the snacks and diluting cleaning products. Amazon I do need to cut down on, too easy to order stuff. Already have the best deal on utilities. Do spend a fortune on driving unfortunately due to work as an agency nurse. Any other ideas very welcome.

OP posts:
MikeRafone · 13/10/2023 22:59

have you thought about training to do beauty procedures?
as a side line on a Saturday this might be useful income. Obviously you’d need to pay tax but 4 mornings a month might well help the bank balance

KievLoverTwo · 13/10/2023 23:08

Look at what speeds to drive at to use less petrol. The other half tells me he has seen an increase of people driving under the speed limit on motorways because it costs less money.

Kweenbee · 13/10/2023 23:11

You will get tough love but excellent advice over on the money saving expert website if you're up to it - especially the debt free wannabe board. There are some fabulous tools and tips there.

Aria999 · 13/10/2023 23:12

This is probably a non starter because it requires money up front but on the driving, if you can get a hybrid vehicle they are super cheap to run. Maybe half what an equivalent size petrol car would cost?

An old one might be ok. I have a 2013 Toyota Prius C and so far it has never broken down or needed an expensive service. (Tempting fate there!)

BertieBotts · 13/10/2023 23:14

The money saving expert money makeover is absolutely brilliant. Really worth going through that if you can spare some time.

Riverlee · 13/10/2023 23:19

Look online for a budget planner (moneysavingexpert has one ). Work out all your income and expenditure than draw up a budget plan. Factor in less frequent costs such as mot, Christmas etc and pilot money aside for these - either in separate account or draw out cash and put aside. Its not the easiest of tasks , but if you save a little each month for Christmas, then it becomes cheaper.

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