Anyone fancy a 2024 savings thread?

[bingoringo4]

After January was the most skint I've ever been in my life, it's kickstarted me to be better with money and save. I'm a rubbish saver so I've bought these challenges to help me. I'm also going to be using cash instead of cards, so when I'm paid on the 23rd I will leave in my bank all the money for direct debits and a buffer for online payments. I will then take the rest out in cash divide it into 4 to use each week and what's left at the end of the week I will put into my challenges.
My goals are to save for Xmas and a holiday next January and have an emergency fund.

While I'm waiting to be paid I've sorted all my little change pots from around the house and bagged up £37 ready to take to the post office. I've also made a start on my penny saver from the change that was left and bits I keep finding around the house.

Im also having a massive clear out and listing on vinted and fb. We are a family of 6 so as you can imagine we accumulate a lot of "stuff" which is something im also working on this year.

I can't wait to see how well I do at the end of the year! Im actually buzzing 🤞🏼

It's amazing how my you can raise by selling family stuff you no longer need.
I sold my daughters old Pony Club tie, my sons scout t shirts, sleeping bag liner (for cold scout camp! ), old ski stuff etc and I've raised over 300 quid! I thought it would be hassle but it's been really easy and the house is less cluttered too!

That's brilliant! I made £400 in 3 weeks on vinted in October. I love having a de clutter it clears my head lol

Anyone?

I should sell dresses on vinted really, is it easy?

Hi I’ve just had some expensive months so I’m up for joining. I manage my money differently to you though - I find cash too easy to spend so I put all my payments on a cashback credit card every month and clear in full, it’s a useful way of knowing if it’s been a cheap or expensive month overall as I know what the credit card balance should be if I want to save x or y.

Sorry should have added I also love selling stuff too.

I have always used a credit card with a reward scheme as does DH. The cash back and points are minimal but over decades they add up. We always viewed it as a debit card so we have to have the money to pay it off by direct debit. On one holiday we had 2 nights in a Hilton and car hire for a week, I mean those points took years to save but it was effectively free, never paid interest.

Sounds like you're in a good mindset OP 🙂.

I enjoy being frugal and saving, and I've made a lot selling things on eBay over the years. I've bought a couple of things on Vinted for the first time recently, but I don't think I'd want to sell on there.

@mitogoshi extremely easy. Uploaded is quick and things tend to sell quite fast. If you've never used it make sure you choose your preferred postal service because they are all switched on. Also the bundle discounts.

Good luck

I think everyone has their own method that works for them. I see cards as not real money so will happily tap away all day 🤦🏻‍♀️ cash makes it real for me. Plus I need cash to do my challenges. Everything I make from selling aswell will be withdrawn, it's the only way I can save.

Sounds great, anything for free is worth it.

My mind set has definitely switched and I think it's because I was so rock bottom in January. It's made me value money more and I never want to be in that situation again.

I used to sell on eBay but the fees were just to high in the end so I switched to vinted. It's more convenient for me because there's a yodel drop off 200 yards from my house.

I would!!🤗🤗🤗

Welcome @Teasie123 🥰

So I took my £37 in coins to the post office today and when I got home I was speaking to my partner (we don't live together) and he said I could have his loose change pot..£105 in 20ps 10ps 5ps 2ps and 1ps. Felt a bit embarrassed walking into the post office again lol but £142 to tide me over until next week which is like winning the lottery considering I only had £20 in my purse until next Friday 😬

@bingoringo4 thanks missus! My mum, god rest her, used to save all her five ps and two pound coins. She had a fortune saved! Am so glad Ur in a nice place, money wise, ATM and it's encouraging for people here. Have went on my banking app there and added a feature that rounds up any change of transactions made and puts them in a savings account.🤗🤗🤗😁😁😁 And will defo get a change pot tom too.🤗🤗🤗

Good luck with your saving x

That’s awesome news about the extra cash! So are you saving cash or paying it in somewhere - with interest rates higher now I would get paying it in to something otherwise you’re just throwing free money away. Even a few hundred pounds will still be a couple of quid a month. So at least a free £25 for the year.

@Hollyhead I'm saving it as cash, if it's in the bank I'll spend it lol. I've tried the pots too on starling and monzo but I just transfer it back out and spend it. Im a terrible saver 🤦🏻‍♀️

Well it’s good to know your style and what works for you so that’s such a great start. No point in free money if it’s going to tempt you to spend it being there!

Just updating as It's drawing the end of the week.

So this week I've gone though all my direct debits and cancelled anything I don't need.

My monthly direct debits come to £1,008.02. I will leave in £30.00 and that's for things like car parks that don't take cash or the bin cleaner etc.

That leaves me with £829.11 to take out in cash I will then divide that by 4 = £207

My child benefit is paid weekly too at £39.90 so all in all I will have £246.90 a week.

That has to buy-

Food- £100-£120

Gas/electric £60

Diesel £30

I also get pip (£272.40) from this I will use to bulk by things like, shampoo/conditioner, shower gel, toilet rolls, kitchen roll, toothpaste, detergent/softener etc. this is so I'm not having to buy it from the food budget. Also I'm going to be saving money from this use for anything the kids need.

Every Friday I will be replenishing my purse with my weekly budget and on Thursday evenings I will be updating on here if there's anything left to add to my saving challenges.

I'm using this thread purely to keep track of how well I'm doing and if anyone wants to join in your more than welcome. Here's to a great 2024 of saving 🎉

Wow well done @bingoringo4 that sounds like great organisational skills. And it will be really motivating to see what money is left etc. What’s a bin cleaner?

One instant tiny saving I can see from your list is ditch fabric softener - I stopped using it last year and can’t tell the difference. Probably only £3 a month saved but that’s £36 a year. You only have to find another 9 small savings like that for it to be £360 a year.

On the food budget do you have a ‘beans on toast night?’ It’s very liberating from a time/hassle/cost side of things.

Hi there,

Good luck with the savings.

This Christmas also made me think we need to put aside some cash for next year. For us it's not just Christmas but our car insurances and house insurance renews around that the same time, along with wanting to take the kids out somewhere Christmassy.

If you struggle to leave the money you have saved alone in the bank I wanted to suggest Premium Bonds. I think you have to own them a full calendar month before they are in the prize draw so once you buy them there is an incentive to leave them alone so you have the best chance of winning something and you can now buy them from £25.

I need a pay day or two more to get on an even keel then I hope to start buying a few each month that we can cash in next winter.

Good luck all

Thank you. It's my wheelie bin monthly clean, only £3 but it's worth it especially in the summer 🤮

I don't buy softener that much (only when it's on offer) but I like it for the smell. Tbh I've stopped buying fizzy drinks so that's a saving there as we was going through loads.

And yes we do have an easy dinner once a week. Whether that's jacket potatoes, cheese or beans on toast (or both lol) because cooking is my most hated thing to do.

Thank you, and you too 🥰

It's a killer when everything falls at once. My car mot falls in January right in between Xmas and my DD's birthday and I pray it sails through. Actually that's just reminded me that I need to book it in for a service 😬 more expense!

Thank you I'd never even thought of premium bonds. I'll look into it.

Week 1 update

So from the £142 budget I had last week I have £7.52 left over to use for my challenges. That means I've made a start on my £1 saver, and the rest of the change ( £4.52 ) was for my penny saver. Small savings but it was with a much smaller budget.