Im always on the hunt for a bargain buy! I will make something instead of buying it, i will find cheaper ways to cook meals, anything really to make my pennies stretch further. Times are hard and like everyone i have to budget. Its boring though and takes a long time to get anywhere near perfection.
As i mentioned before, 2015 is very expensive for me. My saving account is starting to become confusing with money going in and out all the time so i needed a new savings system. There is 3 main things i need to budget for this year. They are not negotiable in any way so i cant haggle these down. As well as this, i am 30 this year, big K is 13! (when did that happen?!) and there is the usual.... school uniform, christmas, summer holidays. Its an endless list but i need to budget now.
You may have seen the money saving challenges which have been doing the rounds? Ill explain them all. Firstly this is the one i am doing.
The 365 Day Penny Challenge
Its quite self explanatory (This shows dollars etc but ignore the dollar sign). You save pennies each day for 365 days of the year. Each day you add 1p to the previous days amount and on day 365, you will have a grand total of around £670! Thats alot of money and would pay for christmas for some people. The most you will put into the pot for a day is £3.65. You can start from day 365 and do this in reverse if it is more manageable. It is a great way of saving a very small amount and having a sizable sum at the end. As it is your savings, you are under not obligation to do each day. Stick what you can afford in, just be aware if you skip days it will result in a lower amount.
I must add you do not actually have to find pennies for this :D Its just the amount that is needed.
I went to the 99p shop and brought myself a sealed up tin - saving my penny change to start my first day :D The tin will need to be opened with a tin opener which i will do on day 365.
As i am saving for lots of things, i am using this to save up for them all.
I have 4 tins currently.
- Big K's savings account
- Little K's saving account
- Our savings account
- Bankruptcy fees fund. (sad i know but its alot of money for us to find otherwise)
The chart can appear confusing so i have made it super easy for you and will give you the week by week amounts and the monthly amount. As i am paid weekly it is easier for me to stick the amount required into the pot each monday rather than daily.
You could round up to the nearest £ or whole number for even more savings. Handy if you have no change :) The monthly amount is based on a 4 week month, months where there is 5 weeks will need the extra added.
The extra weeks which make up the 5 week months (i will be adding these in anywhere and crossing them off the chart)
Quite little effort on my part and breaks it up into manageable amounts. Near on £100 a month is around what i was looking to save anyway and seen as im doing this 4 times over i think i will look at doing a high day then a low day. If you print off the chart you could alternate any days you wanted and just mark them off as you go along :)
There is of course lots more money saving challenges around. I haven't worked out all the amounts as i am not doing them. Here are a few others.
Its perfectly possible to save 50p's, 10p's, 5p's, 2p's etc. Just save what you can afford. It all adds up to a sizeable amount over the course of a year :)