How are you saving money/budgetting?

Ken Shamrock · 29-08-2014 11:50AM

AgileMyth wrote: »

I really don't understand that. I can think of so many better ways to spend that money.

I can't i enjoy it, people enjoy different things and spend their money differently makes no odds to me what you enjoy spending your money on.

jimgoose · 29-08-2014 11:52AM

I fitted myself with an "Off" switch so I can simply store myself in the closet and power down when I am not serving the Collective Machine. 'S efficient annat, innit??

greenbicycle · 29-08-2014 12:09PM

ulinbac wrote: »

Took a year to get out of €12,000 debt, on top of cashflowing bros wedding €1,500 and about €2,000 in medical bills. Paid off the last of it on Wednesday, DEBT FREE!!

Found the only was to do this was to save using a strict budget and any wage increases and bonuses went straight on debt. Having nothing each month and maxing out my credit cards scared me too much.

To save during the last 12 months I:

- Cut drinking to every 4 weeks sometimes every 6 and didn't drink too much
- Stopped buying more rounds then I should and rounds of shots randomly
- Went out and didn't drink at times
- Had to learn to say NO when going places
- Reduced amount I spent on Xmas and birthday presents
- Reduced going out to meals with GF. We cooked indoors instead
- Stopped buying very expensive clothes
- And lastly, SAYING NO NO NO, delaying pleasure now so I can have it in the future. I am not going on 2 weekends away with my mates because I don't want to put it on the credit card. The lads know that I was trying to get my finances in order and know that from October i will be able to go on any weekends away from then on.

Some of the above will change now that the debt is gone, like buying nicer clothes and more expensive holidays. That said I have found it invaluable to have an Emergency Fund (small at the start like €500) in case something unplanned happens like car needing repair. My Emergency Fund is now just under €5k and the pressure is off. I'm cashflowing ALL of my holiday next month and never plan on being in debt again unless its for a Mortgage.

This post depresses me. I dont do any of the above (as i I dont do the things that the poster has cut back on). I probably could cut back on buying clothes a bit but what i do buy are not designer label clothes.

I always make my own lunch and bring it into work

I havent been on a holiday (even within ireland) in three years

I dont ever buy take away tea or coffee

I walk to and from work.

I do have a mortgage and that soaks up some money along with bills and general house maintenance. I only bought the house a few years ago so I didnt get some crazy mortgage before anyone says that.

I dont have any debt apart from my mortgage.

After all of that I still have no money at the end of the month :-(

qo2cj1dsne8y4k · 29-08-2014 12:22PM

I'm terrible at saving. I am terrible with Money, full stop

c_man · 29-08-2014 12:24PM

- Got off bill-pay phone contract, such a waste for my usage. Saving of E30+ a month.
- Have direct debit to a savings account which occurs day after pay day.
- Put a good bit into the Credit Union per month too (no set amount).
- Wear my dirty clothes in the shower, save a fortune on the washing machine :P

I'll be quitting smoking soon enough, so that should help...

29-08-2014 12:44PM

I put 10% of my wages into the stock purchase scheme we have at work. At least then I can't touch it for months...

I also put a good chunk of my wages into savings. And then take it out if I need to.

Also don't bother with phone contracts. Just bought an unlocked phone and spend €20 per month on credit. We have the cheapest upc internet deal at home. Don't have any TV channels, just stream everything from the internet. Buy most my shopping in Lidl. Very rarely drink, but that's what I've always been like...not trying to save money from not drinking! Don't use credit card. Still have one but my limit is €600 just incase!

Could be a lot better though. I still spend a good bit if money on clothes and make up that I don't need. And our rent is quite expensive..but everyone's is really...

Andrewf20 · 29-08-2014 12:47PM

I'm getting fairly strict about just shopping in lidl and aldi. I bought crackers in Supervalu thinking they were great value for 1 euro, only to realise they were 39cent for twice as many in lidl.

I am buying in bulk also. I have a 1kg block of cheese in the fridge. It's like a power lifters dumbbell.

I find myself cycling instead if using the car the odd time, saving on tolls and juice.

I'll admit wearing a dressing gown during the day instead of running the heating. Not good I know.

I also tend to do dinner dates with the other half with those living social deals and the like. Usually ends up about half price. Also for the odd social night out, I'll drive into town, hug a few club lemons and save on taxis and the cost of booze.

ulinbac · 29-08-2014 12:49PM

greenbicycle wrote: »

This post depresses me. I dont do any of the above (as i I dont do the things that the poster has cut back on). I probably could cut back on buying clothes a bit but what i do buy are not designer label clothes.

I always make my own lunch and bring it into work

I havent been on a holiday (even within ireland) in three years

I dont ever buy take away tea or coffee

I walk to and from work.

I do have a mortgage and that soaks up some money along with bills and general house maintenance. I only bought the house a few years ago so I didnt get some crazy mortgage before anyone says that.

I dont have any debt apart from my mortgage.

After all of that I still have no money at the end of the month :-(

Hey GreenBicycle,

Wasn't out to depress.

Curious as to how a mortgage and bills soak up so much that you have nothing left?

Have you ever written down exactly what you spend in a week? As your making your own lunch (that was another thing I left out), are you sure that you might not have bought too much house for your income or did you have loads of wage cuts etc?

Grayson · 29-08-2014 12:57PM

kylith wrote: »

Off them about three weeks myself. Don't miss them. Don't miss a smelly house. Don't miss the cough.

I was smoking 40 a day. I switched to rollies. Then gave up 4 months ago. The first month I was loaded, then the next month a load of bills came in and ever since all the spare money just seems to disappear.

Stainless_Steel · 29-08-2014 01:01PM

This thread belongs in the Cavan section.

kylith · 29-08-2014 01:04PM

Grayson wrote: »

I was smoking 40 a day. I switched to rollies. Then gave up 4 months ago. The first month I was loaded, then the next month a load of bills came in and ever since all the spare money just seems to disappear.

I wouldn't have been smoking anywhere near as much, and only ever smoked rollies, so there wouldn't have been that much of a saving, maybe a tenner a week. What didn't help was the €50 of herbal additives I was getting through every week with them.

Tarzana · 29-08-2014 01:06PM

anncoates wrote: »

Restricting the kids' diet to brown rice, tomato sauce and LIDL cornflakes.

"I spent the next three years in a POW camp, forced to subsist on a thin stew made of fish, vegetables, prawns, coconut milk, and four kinds of rice."

WILL NEVER LOG OFF · 29-08-2014 01:07PM

Spring Onion wrote: »

Don't concentrate 100% on savings, if your employer is doing well start thinking about increasing revenue...

I leave my CVs on the printer and I leave recruitment websites open on my laptop when I go to lunch. It helps get a payrise if you do it before the next pay/performance review.

Are you sure that's wise?

If my employee was leaving job-hunting 'tracks' around everyone else in the office, I'd presume she wasn't happy, and i'd be less inclined to give more responsibility, for fear of being left in the lurch.

that's in a small local business though. maybe large employers feel differently.

Spring Onion · 29-08-2014 01:13PM

greenbicycle wrote: »

I always make my own lunch and bring it into work

While this makes perfect sense, I just cant do it. I really really look forward to lunch Mon-Fri and going out to get a nice sandwich/bap/wrap/panini or soup or salad and a tasty coffee. Work would be such a drag otherwise.

Grayson · 29-08-2014 01:13PM

kylith wrote: »

I wouldn't have been smoking anywhere near as much, and only ever smoked rollies, so there wouldn't have been that much of a saving, maybe a tenner a week. What didn't help was the €50 of herbal additives I was getting through every week with them.

I will say I am a lot healthier though and although I know I could hardly afford smoking it was the health benefits that were the main reason i quit.

On tuesday I smoked something herbal for the first time since I quit. Bit worrked it might bring back cravings for cigarettes but I'm fine

To remain on topic. I started making my own lunch for work, but i found that because the canteen here is pretty cheap my savings weren't much (few euro a week) so i stopped. I switched from billpay to payg. I never order takeaway and I hardly go out at all.

I created two spreadsheets. One has all my regular monthly outgoings, the other has all my regular weekly expenses. This means that i know how much leaves for rent etc... and I know how much i spend on food etc. I then removed unnecessary items from my lists and allocated myself a weekly budget to stick to.

My only treat is 2-3 starbucks a week and a bottle of whiskey every month or two. I'll have a whiskey in the evening occasionally when I'm watching TV.

Spring Onion · 29-08-2014 01:14PM

WILL NEVER LOG OFF wrote: »

Are you sure that's wise?

If my employee was leaving job-hunting 'tracks' around everyone else in the office, I'd presume she wasn't happy, and i'd be less inclined to give more responsibility, for fear of being left in the lurch.

that's in a small local business though. maybe large employers feel differently.

Trust me, it works - if the employee is valued or "indispensable", this will work a treat. If the employee is a waste-of-space chancer then, not so much.
Actually it's really all about perception. Even if the employee know they are "average", this "trick" can show an employer that they are ambitious and value themselves. Perception is way more important than how hard or long a person works each week.

Tarzana · 29-08-2014 01:15PM

Cutting down on drinking has been a biggie for me. I literally have saved thousands in the last few years by taking this measure. But, I don't think I would have taken this measure if I also didn't desperately want to cut down the amount I drank anyway.

29-08-2014 01:22PM

Saving going really well these days.. Teaching English and doing extra work on Sundays and Thursday evening. Haven't budgeted in a long time. Won't give numbers though.

greenbicycle · 29-08-2014 01:25PM

ulinbac wrote: »

Hey GreenBicycle,

Wasn't out to depress.

Curious as to how a mortgage and bills soak up so much that you have nothing left?

Have you ever written down exactly what you spend in a week? As your making your own lunch (that was another thing I left out), are you sure that you might not have bought too much house for your income or did you have loads of wage cuts etc?

Ah god, I wasnt giving out about your post, I was more envious of you if anything! I just wish I had the option to make those lifestyle choices!

no the house is not outside my price range, maybe I am just trying to get it the way I want it too quickly and sacrificing things like holidays too much.

WILL NEVER LOG OFF · 29-08-2014 01:26PM

Spring Onion wrote: »

Trust me, it works - if the employee is valued or "indispensable", this will work a treat. If the employee is a waste-of-space chancer then, not so much.
Actually it's really all about perception. Even if the employee know they are "average", this "trick" can show an employer that they are ambitious and value themselves. Perception is way more important than how hard or long a person works each week.

maybe if there were a verifiable job offer then a counter-offer would arise, but leaving your cv in the printer seems like an empty threat, even a little hostile, and bad for office morale.

just my opinion, if it's working for you then more luck to you

Spring Onion · 29-08-2014 01:39PM

WILL NEVER LOG OFF wrote: »

maybe if there were a verifiable job offer then a counter-offer would arise, but leaving your cv in the printer seems like an empty threat, even a little hostile, and bad for office morale.

just my opinion, if it's working for you then more luck to you

Everyone should keep their CV up-to-date so printing it out from time to time (i.e. performance review time) is no harm. I don't think it would affect office morale in any way whatsoever. Do people care about office morale when they actually leave an employment? I am more concerned with making sure I am sufficiently rewarded for my work - if not, my job satisfaction suffers and I am out the door at the next opportunity.

In my experience Irish people often stay too long in one job. The big payrises come with moving to a new employment. I start looking again after 2 years unless I feel the urge to move sooner. At 4 years I sit down and seriously try to justify my position. Longest job I had was 5 years but I regretted staying so long.

holystungun9 · 29-08-2014 01:48PM

Spring Onion wrote: »

Don't concentrate 100% on savings, if your employer is doing well start thinking about increasing revenue...

I leave my CVs on the printer and I leave recruitment websites open on my laptop when I go to lunch. It helps get a payrise if you do it before the next pay/performance review.

I like your style.

Caliden · 29-08-2014 01:49PM

Shopping in Lidl as opposed to our local Tesco.
Getting meat in bulk from the local butcher.

Planning meals ahead of time and cooking enough to have lunch for 2/3 days during the week.

Swapped cars with herself as I changed job and was stuck in slow moving traffic whereas she is mainly motorway - saves us about 200 a month.

Spring Onion · 29-08-2014 01:49PM

holystungun9 wrote: »

I like your style.

Truth be told, I also leaves pictures of my arse on the photocopier.

Gandhi · 29-08-2014 01:59PM

catallus wrote: »

Hey! Come back and answer me this! Why should a man love his fetters, though they be made of gold?!

'cos in this modern, free world, that man can stick those shiny bitches on E-Bay and blow the proceeds on whatever iGadget the ghost of Steve Jobs told him he absolutely has to have this month. Not really an option for an actual, you know, slave.

Joe prim · 29-08-2014 02:04PM

I've switched almost completely from Yves St Laurent to Armani for both casual and formal wear, unless it's a really big occasion.Much cheaper, and often almost the same quality. Also smoking rollies instead of Woodbines, big savings, bud.

EunanMac · 29-08-2014 02:19PM

I've it down to a pretty fine art. The cheaper you can live, the freer and more independent you are.

What you earn is less important that what you can hold onto.

Not great for the economy, but sure the golden circle can't have it every way, i.e. permanently low wages and lots of stealth taxes and charges for the masses, while nationalising wealthy speculator's private gambling debts, while expecting people to be buying their goods and services in the Irish economy . . . it doesn't add up.

Canis Lupus · 29-08-2014 02:25PM

Spring Onion wrote: »

While this makes perfect sense, I just cant do it. I really really look forward to lunch Mon-Fri and going out to get a nice sandwich/bap/wrap/panini or soup or salad and a tasty coffee. Work would be such a drag otherwise.

I'm not a frugal chap at the best of times but I've never bothered going out for lunch except every once in a while. What are you spending? At least 5 euros 5 days a week. That's a tonne of money over the course of a year all for the sake of not making a little extra dinner each night to pop into a tupperware container or spending 5 minutes in the morning to make a sandwich.

acon2119 · 29-08-2014 02:30PM

ulinbac wrote: »

Took a year to get out of €12,000 debt, on top of cashflowing bros wedding €1,500 and about €2,000 in medical bills. Paid off the last of it on Wednesday, DEBT FREE!!

Found the only was to do this was to save using a strict budget and any wage increases and bonuses went straight on debt. Having nothing each month and maxing out my credit cards scared me too much.

To save during the last 12 months I:

- Cut drinking to every 4 weeks sometimes every 6 and didn't drink too much
- Stopped buying more rounds then I should and rounds of shots randomly
- Went out and didn't drink at times
- Had to learn to say NO when going places
- Reduced amount I spent on Xmas and birthday presents
- Reduced going out to meals with GF. We cooked indoors instead
- Stopped buying very expensive clothes
- And lastly, SAYING NO NO NO, delaying pleasure now so I can have it in the future. I am not going on 2 weekends away with my mates because I don't want to put it on the credit card. The lads know that I was trying to get my finances in order and know that from October i will be able to go on any weekends away from then on.

Some of the above will change now that the debt is gone, like buying nicer clothes and more expensive holidays. That said I have found it invaluable to have an Emergency Fund (small at the start like €500) in case something unplanned happens like car needing repair. My Emergency Fund is now just under €5k and the pressure is off. I'm cashflowing ALL of my holiday next month and never plan on being in debt again unless its for a Mortgage.

Well done

acon2119 · 29-08-2014 02:41PM

Andrewf20 wrote: »

I'm getting fairly strict about just shopping in lidl and aldi. I bought crackers in Supervalu thinking they were great value for 1 euro, only to realise they were 39cent for twice as many in lidl.

I am buying in bulk also. I have a 1kg block of cheese in the fridge. It's like a power lifters dumbbell.

I find myself cycling instead if using the car the odd time, saving on tolls and juice.

I'll admit wearing a dressing gown during the day instead of running the heating. Not good I know.

I also tend to do dinner dates with the other half with those living social deals and the like. Usually ends up about half price. Also for the odd social night out, I'll drive into town, hug a few club lemons and save on taxis and the cost of booze.

Dont be apologetic about what you do to save putting the heating on when you don't need to. its a good way of saving money and very necessary for a lot of people

How are you saving money/budgetting?

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