Frugaility changed your life?

[Buddy80]

Dramatic title, but love to hear from all of us who are frugal. I adopted being frugal about 5-years ago, firstly just for fun and then when I saw how much I was saving, it just took off from there. Started as a set budget for housekeeping, baking own bread, thinking of a re-use for most things, looking at cheap or free days out. From there, it's really kind of expanded and the savings have been massive. I've kinda got lazy over the last few months, but still trying!

It is funny that your lifestyle does improve and you find yourself taking better care of yourself. As you have leftover cash, you are less likely to spend, as it's your savings! Also having more cash, you are in a position to pay for things up front, like car tax ? saving 10 odd quid a year. Another thing I noticed, which was shocking, is that I have been really careful with the electric usage (heat is by gas). I started turning things off at the plug socket when not in use, etc. As you may know, some appliances use a lot even when switched off. Anyway, I got my electric bill the other day and we had saved £150.00 last winter.

But, it's not all about buying the cheapest. As a rule of thumb, I tend to buy cheaper where it is a disposable item, like value shaving foam, but will spend more on better quality meat.

Any others?

Oooh, I didn't know that the OU did a course on personal finances! Brilliant

To the other posters, I can appreciate that my OP did sound a little too OTT. Sorry about that! I too have been skint in the past (for years!) and I can appreciate how it came accross as patronising.

Mousey84, I never could do the spending diary. Just didn't get around to it, which is stupid as it would have saved me so much in the long-term. Same with meal plans, although make a lot of meals with leftovers. Good move on the loyatly cards. Puts me to shame as I never did take advantage of triple points, etc. You seem to be really on the ball with it all. In regard to the best buy tables, I could never really get my head around that...part of the reason is I figured that the rate would change anyhow. But, the Halifax account, is that a current account?

The course is DB123. OU is great - havent paid a penny yet. Have got financial support for three out of four courses so far - the other was too few points to qualify, so I paid for it with....tesco clubcard vouchers!

Halifax Reward Account is a current account. If you had £500 you could bounce it through the account(s) twice and thats the £1k met, and £10 earned. Id leave it in each account for 2 business days just to be sure.

If you can be bothered to make the effort, open 3 (the max you are allowed) and bounce the money through each and then into an account with a high interest rate until the end of the month. New customers to A+L, should look at the premier direct account - pays 6% for a year. If you sign up for it, go through quidco.com to earn £50. First direct offer £100 for switching to them (direct through them, not through quidco), but you need an income of about £23k to qualify.

Halifax also have a 5% regular savings account - if you can pay in over £25 per month without fail and wont need to withdraw within a year, its the best savings account at the minute, that I know of.

Theres also ISAs to think about. Think top ISA is about 2.5% but since you dont pay tax, its worth it.

If you can save longer term, they have fixed longer term isas with good rates too.

Oh, and re Tesco, If you can put the £1k in a Tesco Instant Access Account on October 5/6 and withdraw it on the 8th (and continue bouncing) you will get 500 points, with £20 in deals. Money just needs to be in account on October 7.

Hope that helps

Oh, and alternatives to spending diary could be
online banking - debit or credit card and using the card for everything you can. All you expenditure will be listed. I do this (as well as diary) but you could review once a month. I also have £5 a day cash on me for smaller purchases, like milk and bread. I write those small spends in the diary, and the change from the fiver goes into a piggy bank thats lodged into my account at the end of the month.

Even better, if you chose a cashback card like amex platnium or something like tesco or nectar credit card you can earn money back on your spending

WOW. I think you should have been the OP . Quick post as I need to dash...

Btw, have you ever read The Tightwad Gazette? Some tips are extreme, but it's very good for re-using things and the letters from people who's life it has changed are pretty inspiring.

Ill have a look

A fab book (Ive read it a few times)is Your Money Or Your Life by Joe Dominguez and Vicki Robin. Inspirational stories and a good plan for financial integrity (Im following it) Their website is pretty dire but have a look here

I think I need to get a job doing this... or just get a life

All this is fantastic. You sound really well informed. Do you have a specific goal? Ours was immigration to Canada. But, as I did more, the greater the savings. We also rent, so at the moment, making some savings there. Thanks for the book recommendation.

What a lovely goal! I have family in Vancouver and would love to go. You say was your goal. Have you moved now?

My goal is to own a smallholding outright and be as self-sufficient as possible. When I started saving, aged 16, I was on target for owning some land outright by the time I was 25 (though, rather naively it was based on the prices of land when I was 16!). But along came my DD and 7 years of raising her alone - now Im 25 and only really starting to focus on saving again and prices have shot up so unlikely to be able to buy without a large mortgage for a very long time.

But I do focus on smaller chunks of time. I have monthly, 6 monthly and yearly challenges for myself.

This years challenge is to declutter and generally live more simply. All my stuff wont fit into the tiny thatched roof, chocolate box cottage I will be buying

I've been profligate and I've been frugal and profligate is definitely more fun. I imagine frugal by choice can be fun in the same way that people enthuse about their new clean living diet and how they don't miss chocolate fudge cake in the slightest. It's the joy of smug. But there's a difference between (a) not turning the heat on to save a few quid, putting those quid in the bank and feeling pleased with yourself and (b) not having enough money to turn the heating on, being cold and not having a single penny left at the end of the week. (b) isn't fun.

Not read all of the thread, but to answer riven

GHK institute said that after one year of buying a standard priced bread machine, an average family would have paid for in not buying loaves at the shops.

I paid £5 for mine in a charity shop.

Buddy, you say you have a housekeeping budget but you've never used meal plans?

Hope this is not patronizing but this is one of the easiest ways to save money, and I always thought the first thing anyone does who wants to cut back.

A good way to start is to write a list of the meals your family likes to eat, then rotate the list fortnightly/monthly/whatever suits you.

I find the book 'How to feed your whole family a healthy, balanced diet...' useful. I flick through it on a Wednesday, jot the week's menu on a Post-it, then order the stuff online to arrive by Friday.

It's not only cheaper, it's such a liberating feeling to know every day that the evening meal is sorted and you only have to make quick dashes for milk, extra veg etc.

I'm sure there's menu planner on here as well, but I've never got around to looking at it.

Our lady: I know, I know I really should. Just got back from the library so could have picked up a book all about it. It's on my to-do list.

Really need to give myself a kick to start back on some of this, hence the thread. Some of the responses have been really inspiring. When I get a proper chance, I will write out a few hints of my own.

Mousey84: We are still in the UK, getting to the final hurdle with getting our visa. Its very exciting, but at the same time very nerve wracking. We have 3-years on this visa to get ourselves out there, before it expires. Yes, we are mad...we won't know anyone out there . Fantastic with your goal, if you know all this at 25 and have been saving since 16 and rasing a son - WOW! You'll do very well.

Riven Im sorry to hear that you are struggling and it was not my intention to upset you at all. The book is probably aimed more at those who do spend un-necessarily,

I will not pretend to know what Im talking about when it comes to medical care or renovations. Ive had a (very quick) read at the information on bio-feedback machines and they do seem very interesting How often would your daughter need to use it? Could it be leased, even if just long enough to see if it is useful)? Are there grants? If its portable, and not need on a daily basis do you think there would be enough demand in the local area to see if there is interest in a co-op to buy one?

My family is frugal through choice. DH and I have our own business and we are well paid but as with any self employment, there can be lean times where there isn't much work about. I do see where Buddy is coming from.

It can be enriching if it isn't the only option. For instance, I use the library a lot now and have got to know some lovely people through this locally, whereas I used to get my books from amazon. But I can understand that it isn't much fun if you can't do anything else. I have been there.

Hey I killed a thread. Hooray for me

sobs

Oops spoke too soon. Happy to revive it :O

This thread has been on my mind alot and made me pay attention to stuff that i do out of habit now, that are "frugal".

I chatted to my wee bro about electric usage - full kettle and excess poured into flask for later vs only boiling what you need, how much it costs to boil kettle etc (hes doing a degree in engineering..of some sort)

I need one of those electricity monitor thingys though. Was chatting to a friend about electric yesterday and her bill is the same as mine despite having 6 people in her house (just me and dd but Im a CM so at home a lot)

We lived in a flat up until may last year, and our electric usage TRIPLED when we moved here (i wasnt even working from home then). Its a bigger place but theres still only two of us - tv isnt on more, pc not on more etc etc. Only difference is the electric shower. I dont get it.

Hmmm, tricky with the electric usage. Couple of suggestions (which you've probably tried)..do you switch off the plug itself? As some appliances can still take elec even when switched off. Also, as for electric...you may find this website handy www.electricity-guide.org.uk/tips.html

As for me being frugal...i've kinda fallen off the wagon. Last month, I saved all the receipts for a months worth of food shopping and it came to over £300.00. Really need to get back on track. I really do.

Just one more...do you have a toy library in your area? I have tried it, very good for larger or more expensive toys. Got something for my son he loved when at group..got it home, he didn't look at it!

I even pull the plugs out of the wall! (except sky which is on all the time) Always have done. Maybe my neighbours are swiping my electric!

Did you include toiletries in the grocery bill, or it that just food? try using mysupermarket.com - you can compare prices very easily, and add to or take things out of the trolley til you meet your budget price. For tesco, tuesday delivery is cheapest i think. And getting it delivered means you dont impulse buy as easily. Def worth £3.50

2. look for online money off /double points/free delivery offers posted on websites/forums. Ive never placed an order and not used some sort of code.

Mousey, do you have an electric immersion heater? They chew through electricity.

Hi mousey, thats for everything. My normal budget is £150.00. Btw, have you tried Poundland/99p stores, they are very good.

Flock - I do have an immersion heater, but after living here 18months I only just found out how to turn it on (need to flick two switches in different parts of the house!)

Buddy - I dont have any pound shops handy, and since I dont drive, Id prob spend more to get there than I would save!

There is a discount food store 10 mins walk from our local tesco though, and I do try to shop there first, but its very very hit and miss (like poundstretcher I suppose?). However, once I managed a whole fortnights shop, minus fresh stuff, in there for about £8, but it was all planned on the spot, as stock changes so often. Added bonus is that profit goes to charity.

PS Have you tried spending diary of any sort yet?