Reining it in for 2025 - anyone with me?

[Christmasgonk]

So we’ve had a hugely expensive 2024 following an (almost) full house renovation plus extension. And we have overspent on Christmas (largely because we wanted to go “all out” this year as last year we were living in a damp and cold building site. However, we really really need to cut the spending in 2025 to build up a buffer/save for retirement.

Current plan is:

• quit drinking at least until May (when we go away) - I need to drop about 2 stone anyway;
• meal plan religiously and use as much from store cupboard as possible - we grow a lot of our own veg but obvs not much left this time of year
• stop any mindless spending, particularly Amazon habit!!!

Most of our spending tends to be on food/drink (even though we don’t really eat out anymore) so if we can cut that down we might be able to boost our savings.

anyone with me? What’s your spending weakness?

I'm in! Currently just working on a spreadsheet for next year! Realistically spending too much on wine and takeaways - trying to work out why we are normally in/close to overdraft when we have a good combined wage coming in.

By looking at these bank statements I think I can see!

Need to pay off some debt too, which is paramount. Going to need to live more frugally to hopefully reap the rewards over the next couple of years. Mortgage due re renewal June 2026 so I'm hoping these changes now will stand us in good stead for then.

I've definitely had my head in the sand. I'm loathe to look at my account online as my heart naturally sinks - I need this accountability to stay on top and sort this situation out.

Background - two children, aged 4 and 9. Husband and I in early forties - should know better!!!

Extra curricular activities paid for termly, so about to have those come out at the beginning of January. Going forward I'm accounting for these by way of putting an amount into separate 'pot' on Monzo - it will take some months to accumulate but the end result will mean we have it in readiness for the beginning of term instead of 'suddenly' having to find £600 extra at the beginning of the term.

@niki26 great that you are on the case with a spreadsheet - I am scared of spreadsheets!

We are good at putting away for bills like utilities/tv subscriptions/ house insurance but never put away for kids activities or car insurance so perhaps we should

Starting my accountable spending from Friday which is pay day - though spent 115 on a donut for DC2 (4) just now

I'm in

Had a massively expensive 2024 mainly having to financially help adult dc and some major house issues that needed seeing to.

Working my ass off to pay my tax bill that I should have saved for throughout the year but didn't quite save enough and other shit happened so once that's sorted by mid Jan we are sitting down and sorting it out

Our house bills are ridiculous but this week managed to shave £50 off the food shop which is just a ridiculous amount.

Me! I’m having no holidays next year and reducing how much I eat out! That should save me a lot

@dothehokeycokey sounds like it’s been a toughie. Hang in there until end of year and am sure 2025 will be better. I feel like “2025” just looks like a nice number.

wow £50 off a food shop is immense - good going!!!

@TwinklyRoseTurtle oh no no holidays - are you trying to get on top of debt or save for something? Good luck with your 2025 goals

Thank you! Good luck for yours too :).
I think I’ve just realised I have gradually wasted a lot of money ( I know this is fortunate in this current col) but I have literally no savings which is outrageous so I’m probably more focusing on saving and then have a big holiday in 2026!

My Amazon habit is nothing compared to the above but it's getting out out of the habit of spending on the little things. It's my equivalent of the daily coffee which all adds up.

Yep I’m in. Just need to stop aimlessly browsing and thinking ooh that’s nice.
Strictly only buying what I need not what I want or fancy.

Spreadsheets aren't anything to be scared of. It's what you populate them with that is😬

Hi, me too. Have been shocked how much I am spending in the local shop and also a bad habit of take aways because I'm stressed and tired:
Need to meal plan etc and cut down in this. Will also cut down on wine!

Oh yeah the local shop. Just popping in to buy milk coming out with a bag full.

I’m in too. Almost identical circumstances to OP, but also with the termly expenses hitting in Jan / Apr / Sep for DC (x4) swimming and music. We’re great with the headline stuff (pension / mortgage) but not so great with cash flow. Most spending is at Tesco, which I always excuse as, ‘well we need food’, but being organised with food / menu planning would save us money and reduce waste.

Great idea. I am in too!

I’d like to join too. Had a very spendy year, having just had a new roof on the house and a big ( albeit disastrous holiday).
Dd will be going to Uni this year and I’m aware she’ll need a fair bit of financial support - although we have been saving to help.
I have more clothes than I need and like others could do with cutting back on the wine spends.

Holidays are my spending weakness. I can be good for months, resisting buying Costa coffees out, turning the heating down a bit, etc etc but when it comes to holidays all this goes out the window. For the last almost two years I’ve got into business class flights so the spending has gone to a whole new level.

Yes the clothes thing is an issue of mine and shoes/boots

I went through all my wardrobes last weekend and gave away two bin bags of clothes that I've bought and either never worn or worn once maybe.

I'm shocked at myself as I used to be really frugal on spending on myself.

Anyway I've downgraded my shopping to Lidl Aldi instead of Sainsbury's and marks and Spencer's

I've downgraded my my skin care range now and actually I have loads of it so won't need to buy any for quite a while

I've changed make up brand to a slightly cheaper but still really good quality and I love it more which is a plus.

I'm checking teens clothes before they go in the wash now and have to say that's cut out two to three loads a week which is brilliant.

We all eat different food at different times in our house due to work and other commitments so we eat fresh made ready food however I'm making a massive pot of slow cooker sausage and meatball casserole for this week so there will be loads of portions and it's a lot cheaper.

Yep I plan to reign it in for 2025 but I plan to reign it in every year so nothing new there. January-March are always really good saving months for me but once winter is over it all seems to go to hell. I spend loads on the garden, that's my big weakness.

I’m in too! I’m aiming to increase savings and get rid of leftover debt. The last few years I’ve been in the habit of just paying the minimum and shifting it to new 0% deals but now I actually want to get rid of it and save for emergencies and hols etc in advance. That would feel amazing. Good luck everyone!

Great to see so many people joining! We can do this!!!

Trying to get the last lot of presents sorted before new budget starts Friday - very creative accounting but thinking we are well over budget anyway so I’d rather keep going now than wait till 20th (when presents will still need to be bought anyway) and have it bleed into next month.

so bought 6 x bottles wine yesterday for my MIL. We need to get my FIL some beers. And we also need a chicken for dinner and some bananas for lunchboxes.

both DH and I have lunches out this coming week and then we are done!!

Definitely want to have a tighter rein on my finances and have a plan to save £2025 this year.

I'm thinking of starting cash stuffing, because I am very "tap happy" with my cards, whereas I feel like handing over cash is more a mindful way of spending.

Am also taking part in a decluttering challenge so will sell unwanted items on Vinted/eBay, use up existing toiletries/makeup/fragrance rather than just buying for the sake of it.

I'm also planning to take full advantage of the offers on loyalty cards and save up as much as I can towards next Christmas.

Our mortgage is due for renewal Jan 2025 and we think it is likely to increase so every little helps.

I’m on maternity leave & also wanting to spend Christmas in Australia next year so looking to be more mindful with spending.

I’m also aiming to lose about 15kg so saving on UberEats, takeaways, coffee & cake out will also help with that.

I have zero need for clothes for me or the kids next year (except school uniform) so making a rule that if I buy an item of clothing for me, I have to sell 2 items on Vinted. If I do lose the weight, any new clothes I might need will come from Vinted funds or gift vouchers.

I'll be trying again next year but i normally last a few months then burn out. My amazon habit is obscene 339 orders this year!! which is still an improvement on 501 in 23. I just get so fed up of meal planning and not having things I like to eat in order to save money and silly things like that.

Can I join please? I'm reducing my hours at work in the new year and so need to make some adjustments. Have got started on Vinted (£20) and also started on AttaPoll (£28) (DM me if you would like a referral) and using Top cashback again (£35) in the last month. Does anyone have any other ideas of making a bit of money over the year?