Has anyone else "tightened their belts" reducing monthly outgoings...
30 June 2009, 02:47 PM
#1
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Has anyone else "tightened their belts" reducing monthly outgoings...
We are trying to save up for a wedding a the moment so decided to cut down out monthly outgoings, so far I have been shocked at the amount we were paying out that we just didn't need to.
So far
Sky - reduced by £40 per month.
Both our mobile bills, £80 per month, still maintaining 100's of free minutes/texts
Credit cards protection payments X4 £60
Premium bank accounts £15 each
There are quite a few other bits and bobs, but due to, well just not being switched on with what we were paying has been costing us best part of £300 per month.
How often do you go through your bills to see if you can save a bit here and a bit there? I know I will be doing it far more often now!
So far
Sky - reduced by £40 per month.
Both our mobile bills, £80 per month, still maintaining 100's of free minutes/texts
Credit cards protection payments X4 £60
Premium bank accounts £15 each
There are quite a few other bits and bobs, but due to, well just not being switched on with what we were paying has been costing us best part of £300 per month.
How often do you go through your bills to see if you can save a bit here and a bit there? I know I will be doing it far more often now!
30 June 2009, 03:01 PM
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I think that in the current climate a bit of belt tightening, if only to put aside some dough for a rainy day, is pretty much a must for most people at the moment.
I know I am. I've just been offered a job in the academic sector, which is usually pretty secure in times of recession, but even there, people are talking about cutbacks/redundancies etc... No such thing a a secure job these days I fear!
I've cut back on the fast food, drinking and just impulse buying of DVDs, magazines etc...
One has to maintain a balance: life is for living and money is there to be spent (within reason). If you always hoard all your money at the expense of doing/having things you enjoy, I think you'd get pretty despondent very quickly.
I know I am. I've just been offered a job in the academic sector, which is usually pretty secure in times of recession, but even there, people are talking about cutbacks/redundancies etc... No such thing a a secure job these days I fear!
I've cut back on the fast food, drinking and just impulse buying of DVDs, magazines etc...
One has to maintain a balance: life is for living and money is there to be spent (within reason). If you always hoard all your money at the expense of doing/having things you enjoy, I think you'd get pretty despondent very quickly.
Last edited by New_scooby_04; 30 June 2009 at 03:05 PM.
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30 June 2009, 03:23 PM
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Well yes...as I have recently been made redundant & luckily we have some money behind us to hopefully take us through it I have been looking again at things we could trim off.
Not found much TBH as i had a phase of streamlining last year which got rid of most the wasted money items.
I suppose if things get really tight we can alter the mortgage period from 13 years back up to 20 or I could dispose of a car and use the money to pay the bills.
Luckily I would think we have quite low outgoings and as I did earn a reasonable salary we may have enough to keep going, the lavish summer holiday is not going to be so lavish this year but hey ho it won't be forever and we have not done too bad in recent years so maybe it is a good thing to have a bit of realism to the whole situation.
And bless my wife she is doing overtime to bring in some extra money.
We shall keep going lifestyle changes are not currently required {apart from the holiday} we shall see what the next 6 months bring :-)
Not found much TBH as i had a phase of streamlining last year which got rid of most the wasted money items.
I suppose if things get really tight we can alter the mortgage period from 13 years back up to 20 or I could dispose of a car and use the money to pay the bills.
Luckily I would think we have quite low outgoings and as I did earn a reasonable salary we may have enough to keep going, the lavish summer holiday is not going to be so lavish this year but hey ho it won't be forever and we have not done too bad in recent years so maybe it is a good thing to have a bit of realism to the whole situation.
And bless my wife she is doing overtime to bring in some extra money.
We shall keep going lifestyle changes are not currently required {apart from the holiday} we shall see what the next 6 months bring :-)
30 June 2009, 03:25 PM
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We have become more careful about our spending, quite prepared to do without things which are not absolutely necessary.
I don't believe in splashing it all out when things are getting tighter and spending everything that we have left or can borrow until they won't lend us any more!
Les
I don't believe in splashing it all out when things are getting tighter and spending everything that we have left or can borrow until they won't lend us any more!
Les
30 June 2009, 03:30 PM
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I agree with NS04, theres no point hoarding all your money, hoard some of it, but not all of it!
I know one guy who will almost definately die with 200k in the bank, he always says he has no money but works like a POW (but a happy one), he earns at least 50k a year, but never goes out, doesnt drink much, never goes to gigs with us, or holidays, but he says hes happy. I DOUBT IT!
Ive told him why not live a little and spend siome of it, but hes having none of it!
His wreck of an old mazda failed its mot on welding, and it was not an economical repair so he scrapped it, instead of buying a new car he now makes do with his works van, why when you earn 50k plus a year would you do that, he has no missus and he will never get one *(who likes to be picked up for a first date in a 98 vw van covered in filth), but then he says women are too expensive (no he isnt gay. I think lol).
He even scoffed at me for spending a huge amount (in his words) on a new paul smith wallet, it only holds money he says!
FFS spend some of your hard earned you sad ****!
We reckon hell be one of those crazy tw@s who leave it all to the cats home or something like that!
I know one guy who will almost definately die with 200k in the bank, he always says he has no money but works like a POW (but a happy one), he earns at least 50k a year, but never goes out, doesnt drink much, never goes to gigs with us, or holidays, but he says hes happy. I DOUBT IT!
Ive told him why not live a little and spend siome of it, but hes having none of it!
His wreck of an old mazda failed its mot on welding, and it was not an economical repair so he scrapped it, instead of buying a new car he now makes do with his works van, why when you earn 50k plus a year would you do that, he has no missus and he will never get one *(who likes to be picked up for a first date in a 98 vw van covered in filth), but then he says women are too expensive (no he isnt gay. I think lol).
He even scoffed at me for spending a huge amount (in his words) on a new paul smith wallet, it only holds money he says!
FFS spend some of your hard earned you sad ****!
We reckon hell be one of those crazy tw@s who leave it all to the cats home or something like that!
30 June 2009, 03:35 PM
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me and the missus are saving to go travelling at the end of the year. We need 8k and we are just shy of two atm.
Its less a case of tightening our belts and more maximizing what we have. Most of the savings are mine through putting money by rather than 'living in the now' and spending it. Also, I have a lorryload of crap I just don't use in the garage, that's all going on ebay next week.
That alone should nudge us over 2k, after that its only 6 to go
Astraboy.
Its less a case of tightening our belts and more maximizing what we have. Most of the savings are mine through putting money by rather than 'living in the now' and spending it. Also, I have a lorryload of crap I just don't use in the garage, that's all going on ebay next week.
That alone should nudge us over 2k, after that its only 6 to go
Astraboy.
30 June 2009, 03:41 PM
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I agree with NS04, theres no point hoarding all your money, hoard some of it, but not all of it!
I know one guy who will almost definately die with 200k in the bank, he always says he has no money but works like a POW (but a happy one), he earns at least 50k a year, but never goes out, doesnt drink much, never goes to gigs with us, or holidays, but he says hes happy. I DOUBT IT!
Ive told him why not live a little and spend siome of it, but hes having none of it!
His wreck of an old mazda failed its mot on welding, and it was not an economical repair so he scrapped it, instead of buying a new car he now makes do with his works van, why when you earn 50k plus a year would you do that, he has no missus and he will never get one *(who likes to be picked up for a first date in a 98 vw van covered in filth), but then he says women are too expensive (no he isnt gay. I think lol).
He even scoffed at me for spending a huge amount (in his words) on a new paul smith wallet, it only holds money he says!
FFS spend some of your hard earned you sad ****!
We reckon hell be one of those crazy tw@s who leave it all to the cats home or something like that!
I know one guy who will almost definately die with 200k in the bank, he always says he has no money but works like a POW (but a happy one), he earns at least 50k a year, but never goes out, doesnt drink much, never goes to gigs with us, or holidays, but he says hes happy. I DOUBT IT!
Ive told him why not live a little and spend siome of it, but hes having none of it!
His wreck of an old mazda failed its mot on welding, and it was not an economical repair so he scrapped it, instead of buying a new car he now makes do with his works van, why when you earn 50k plus a year would you do that, he has no missus and he will never get one *(who likes to be picked up for a first date in a 98 vw van covered in filth), but then he says women are too expensive (no he isnt gay. I think lol).
He even scoffed at me for spending a huge amount (in his words) on a new paul smith wallet, it only holds money he says!
FFS spend some of your hard earned you sad ****!
We reckon hell be one of those crazy tw@s who leave it all to the cats home or something like that!
Don't get me wrong, I'm not doing this to hoard money but to primarily save up for a wedding, but after that's paid for I will still be a lot more on the ball as to where my money is going. As I'd much rather spend £300 a month on beer than waste it on pretty much nothing.
30 June 2009, 03:49 PM
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Trimming bits here and there ... cut back our Sky package (only lost channels we don't watch), changed our broadband package (lower download limit but we never get close to that anyway) and changed our home insurance provider (no difference in cover)...
... but then I did buy a Z4 coupe so a lot of the good work was 'undone' ... oops.
Agree that a reasonable emergency fund is sensible and then life is for living... don't see any sense hoarding, just keep (more than) enough aside for a rainy day and enjoy the rest
... but then I did buy a Z4 coupe so a lot of the good work was 'undone' ... oops.
Agree that a reasonable emergency fund is sensible and then life is for living... don't see any sense hoarding, just keep (more than) enough aside for a rainy day and enjoy the rest
30 June 2009, 03:57 PM
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Don't get me wrong, I'm not doing this to hoard money but to primarily save up for a wedding, but after that's paid for I will still be a lot more on the ball as to where my money is going. As I'd much rather spend £300 a month on beer than waste it on pretty much nothing.
I too am getting married next year, were doing it in Mexico, so we've had a right bloody headache with all this swine flu business. Luckily my fiances dad is paying for all the dresses/ceremony/food ect
30 June 2009, 04:01 PM
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Mines not because we are struggling, its more of the "lets put away as much as we can" while things are unstable. I think this credit crunch makes you realise that you may be wasted money which would be better of in your pocket.
I too am getting married next year, were doing it in Mexico, so we've had a right bloody headache with all this swine flu business. Luckily my fiances dad is paying for all the dresses/ceremony/food ect
I too am getting married next year, were doing it in Mexico, so we've had a right bloody headache with all this swine flu business. Luckily my fiances dad is paying for all the dresses/ceremony/food ect
Lucky you, mine is going to be in Croatia, and I'm paying for all the dresses/ceremony/food etc.
30 June 2009, 04:48 PM
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I agree with NS04, theres no point hoarding all your money, hoard some of it, but not all of it!
I know one guy who will almost definately die with 200k in the bank, he always says he has no money but works like a POW (but a happy one), he earns at least 50k a year, but never goes out, doesnt drink much, never goes to gigs with us, or holidays, but he says hes happy. I DOUBT IT!
Ive told him why not live a little and spend siome of it, but hes having none of it!
His wreck of an old mazda failed its mot on welding, and it was not an economical repair so he scrapped it, instead of buying a new car he now makes do with his works van, why when you earn 50k plus a year would you do that, he has no missus and he will never get one *(who likes to be picked up for a first date in a 98 vw van covered in filth), but then he says women are too expensive (no he isnt gay. I think lol).
He even scoffed at me for spending a huge amount (in his words) on a new paul smith wallet, it only holds money he says!
FFS spend some of your hard earned you sad ****!
We reckon hell be one of those crazy tw@s who leave it all to the cats home or something like that!
I know one guy who will almost definately die with 200k in the bank, he always says he has no money but works like a POW (but a happy one), he earns at least 50k a year, but never goes out, doesnt drink much, never goes to gigs with us, or holidays, but he says hes happy. I DOUBT IT!
Ive told him why not live a little and spend siome of it, but hes having none of it!
His wreck of an old mazda failed its mot on welding, and it was not an economical repair so he scrapped it, instead of buying a new car he now makes do with his works van, why when you earn 50k plus a year would you do that, he has no missus and he will never get one *(who likes to be picked up for a first date in a 98 vw van covered in filth), but then he says women are too expensive (no he isnt gay. I think lol).
He even scoffed at me for spending a huge amount (in his words) on a new paul smith wallet, it only holds money he says!
FFS spend some of your hard earned you sad ****!
We reckon hell be one of those crazy tw@s who leave it all to the cats home or something like that!
Work to live, don't live to work. Life's too effing short!
30 June 2009, 05:12 PM
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Personally i have had to cut back quite a bit, it was either cut right back, or sack the weekend bloke and start working 7 days a week again.
Working 7 days a week tends to **** me off a bit, and it took me quite a while to find a reliable regular weekend worker, so i don't really want to bladder him
Basically, the missus now pays for most meals out and "treat" type things, to be honest, i feckin hate it, call me old fashioned but the bloke is supposed to pay for all this stuff, but times are not easy at the moment so it has to be done.
Mehhh, at least things look like they are picking back up again
Working 7 days a week tends to **** me off a bit, and it took me quite a while to find a reliable regular weekend worker, so i don't really want to bladder him
Basically, the missus now pays for most meals out and "treat" type things, to be honest, i feckin hate it, call me old fashioned but the bloke is supposed to pay for all this stuff, but times are not easy at the moment so it has to be done.
Mehhh, at least things look like they are picking back up again
30 June 2009, 06:52 PM
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I worked with a guy who's in-laws scooped £20M on the lottery....
Too thick to realise they could out splurge us all on the interest alone.
Will just split it amongst the kids/grand-kids.
DOH !
I'm currently waiting for my next splurge - a forged motor !
Can't wait, must wait, dammit !
LOL
dunx
Too thick to realise they could out splurge us all on the interest alone.
Will just split it amongst the kids/grand-kids.
DOH !
I'm currently waiting for my next splurge - a forged motor !
Can't wait, must wait, dammit !
LOL
dunx
30 June 2009, 07:23 PM
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We just don't seem to need all that much to live on which is bloody handy. So can go a bit mad now and again but still save a decent wad every few months when we pay ourselves dividends. Just don't feel the need to join the rat race and tick off all the things that seem to be "must haves" these days.
Helped being very, very skint for a long time.
Helped being very, very skint for a long time.
30 June 2009, 07:46 PM
#25
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Im just going as always at the mo,maybe a little more cautious about what im buying like do i really need it.Was out at the shops the weekend and said to a mate who was with us,look the amount of people that are still out in shops buying,car park absolutley full,even Halfrauds had a que at the till.I said you wouldn't think were actually in a recession.Noticed Halfrauds are still a rip off,Navigon 1310 satnav £219.00 in halfords,looked on the net same satnav £120.00 what a difference in price...
Doing our bit to fight the recession though
30 June 2009, 09:00 PM
#27
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just depends on what your priorities are really
we dont have sky, have a 7yr old TV, no fancy Hi Fi
no gym membership -- we just run in the country side
I have a work phone, but my wife has my old classic Nokia 6310 on PAYG
no cars valued over 10K
nothing on HP etc
rarely buy clothes
never "shop" as a leisure activity
oh -- and I cut my own hair with my trusty Wahl Clippers -- must have saved literally 10s of pounds over the years
but we do spend a fortune on food, holidays, time with friends, and most importantly our children
oh and i almost forgot, my massive mortgages
we dont have sky, have a 7yr old TV, no fancy Hi Fi
no gym membership -- we just run in the country side
I have a work phone, but my wife has my old classic Nokia 6310 on PAYG
no cars valued over 10K
nothing on HP etc
rarely buy clothes
never "shop" as a leisure activity
oh -- and I cut my own hair with my trusty Wahl Clippers -- must have saved literally 10s of pounds over the years
but we do spend a fortune on food, holidays, time with friends, and most importantly our children
oh and i almost forgot, my massive mortgages
Last edited by hodgy0_2; 30 June 2009 at 09:03 PM.
30 June 2009, 09:24 PM
#28
To be honest with the massive dip in interest rates ,we have been spending more .!!!
Been quite tight for the last year or so prior to the interest rate dropping ,due to taking a big pay cut to get a more pleasant job !!!
So now im enjoying the extra cash in my pocket .!!!
Life is for living .
For the fella who is going to die with 200K in the bank ,"tut ,tut ,tut ,what a waste !!! "
To me thats 200 K of pleasure you will miss out on
.If I croak it at -200 K then it will be job done .lol !!!!!
Been quite tight for the last year or so prior to the interest rate dropping ,due to taking a big pay cut to get a more pleasant job !!!
So now im enjoying the extra cash in my pocket .!!!
Life is for living .
For the fella who is going to die with 200K in the bank ,"tut ,tut ,tut ,what a waste !!! "
To me thats 200 K of pleasure you will miss out on
.If I croak it at -200 K then it will be job done .lol !!!!!
30 June 2009, 09:25 PM
#29
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All the best mate, me and the now Mrs cut back loads for nearly 2 years to pay for a wedding, was all worth it in the end though. We had next to no nights out, only shopped in sales etc.
Just cancelled my gym membership was costing me £30 per month
Just cancelled my gym membership was costing me £30 per month
