Tuesday, 30 August 2011

It's coming down

I am mighty pleased with myself today, I have managed to save enough money to make an extra payment on my mortgage. I was in a position to pay this in January, but as you know I had to put the money towards a new car. Now, after much scrimping and penny pinching I can write this cheque.

Still a bit more left to pay, but it's coming down slowly. Every month I check my bank statements, I know exactly what I have coming in and going out.

Some people might poo poo my ideas about money saving, but they work. I know the majority of people who read my blog understand my lifestyle, because a lot of you are leading similar frugal lives, but I don't know one single person who cuts everything down to the bare minimun as I do. Every penny I spend has to be accounted for, there has to be a good reason for me to open my purse. Of course I allow myself some treats as you know, but they are things that are important to me, and I save up for them. All other times I spend nothing at all.

I have lots of no spend days, I don't go out of the village, I keep myself busy round here. I have stopped going in the local shop, before I was always popping in for a bar of chocolate or a packet of crisps, not any more. We have two pubs which I never go in, we have a Chinese takeaway which I never use, and we now have a Coffee Shop which I wouldn't dream of using when I can walk two minutes home and make a drink in my own kitchen. There are such a lot of things which I have stopped buying.

I am off camping at the weekend with a group of walkers, I don't know what they will think of me when I don't join in paying for rounds in the pub. I shall explain that I can't afford to, and I am happy just to pay for myself. If they think I am being stuffy then that's tough. I shall pay for my pitch, take my own food for breakfast and the day's pack up, and buy a meal in the pub at night. I shall join in with the fun and merryment, having only one or two drinks. I don't need loads of alcohol to have a good time, good company and a good laugh are more important, and that's free. Toodle pip.

22 comments:

  1. Well done! Enjoy youself camping , hope the weather is good.
    Jane x

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  2. take no notice of the people who 'poo poo' your ideas, they do not have to find the money to pay your bills.secretly they are probably envious of your initiative and willpower. well done.

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  3. I think this business of paying a round is ridiculous. It's a way of showing generosity that you really don't want to do! I really hate it. You also drink far more than you want to. I think it is a man thing.

    I have started putting the hot water on manually now rather than having it on the timer. If we've not used much the night before it doesn't go on until the next night. I managed to fathom out my complicated timer.

    Enjoy the camping and I hope the weather keeps DRY for you.

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  4. Since I either do not drink at all or drink one drink, I refuse to pay for rounds. Just don't drink each time they order even if someone offers to pay. I keep my own finances and allow others to worry about their treats. But,my friends never do that anyway. You are in a position to bike and walk places without being mowed down by a car or semi. I don't have that option. And, I don't have the physical ability right now.

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  5. Buying rounds is ridiculous! I've never been much of a drinker and would rather just buy my own...if I'm going to treat it's by inviting friends to my house...

    I am working my way towards being more frugal every day...wish I could have you in charge of my purse strings!

    Hoping you have lovely weather for camping...I'm lucky to be in one of the dry parts of the USA...

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  6. Good for you! We sensed a job elimination earlier this year so I made a concerted effort to save whatever I could to eliminate a small home equity loan against our mortgage. On 2 relatively modest salaries, and while raising a family with 4 children, I paid off $10,000+ this year on that loan, totally eliminating that debt. Job loss did happen, and it's such a relief not having that hanging over our heads. Still have a car note (0% interest BTW!), and a mortgage that will be paid off in 3 years. I see the light at the end of the tunnel, it's a great position to be in!

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  7. I agree with the others - I cant believe in this day and age that folk would buy rounds. In the days (a hundred years ago) when I went out to lunch with friends we all asked for separate checks so we just paid for our own lunch.
    I spend a lot of time at home; have a big veggie garden, today I am drying tomatoes, I will have enough frozen to last until next March, they are wonderful in sandwiches and on fish or chicken or mixed into pasta. - I find that saves so much money. I dont wander round garage sales looking for something to spend my money on and next year I am planning a no- spend year just for fun.
    I do think that a mainly vegetarian diet really saves money - I dont often eat desserts either - expensive and I certainly dont need the calories.
    I am always amazed at what you achieve on your very modest income.
    Kudos !!

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  8. When I used to go out, I would drink soda water at 20p a glass. People (men!) were incredulous that I could be relaxed and enjoying myself without a "proper drink". So fair play to you Ilona, it's perfectly possible, as you know.
    Have a brilliant trip and well done for chipping away at that mortgage.

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  9. Sounds like a brilliant strategy. Have a great time!!

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  10. Wow! That's a significant amount to be paying done and it's only down to your incredible ways that you're able to do this.

    I'm often put into difficulty in social situations when everyone is spending up large and just expect everyone in the group is OK with that. Most of the time, everyone is great about it and laugh if off. If they think any worse of you because you speak up, then "whatever"!

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  11. Congratulations this is wonderful x

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  12. Hi, Ilona - I do so admire you, like many of your followers. Facing husband`s redundancy this year, and still trying to sell our over-large house after 3 years, we will be taking a further rung down (maybe that should be up) the frugal ladder - a worrying time, but trying to be positive and see it as an opportunity (ARRGH). PS just spent a week on a campsite in your neck of the woods - Lincolnshire, anyway. Lovely county. x

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  13. Hi Lynn. Hang on in there, it might seem pretty daunting when you are faced with an uphill struggle, but try not to lose sight of the long term plan. One thing you can do is to think that all the people who want your money are the devil, and you need to think of ways to outwit them. Make it your challenge not to be beaten, set yourself little goals. The only way to save money is to not spend it. It is an opportunity, your opportunity to become a winner.

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  14. Hi Mathew. It's amazing how many people look down on you when you stop spending. They just don't get it. I feel sorry for them, because it's they who are getting sucked in, they who are handing their lives over to others. Those who live by their own rules and accept responsibility for their own decisions, will be the winners in the end.

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  15. People can be mean sometimes though. When we were putting every penny away for our first house deposit, work expected us to bring cakes in for everyone on our birthdays. Well we brought some in when OH had his,(OH didn't even work there any more) and not on mine and there was much pettiness as a result.
    Fantastic to be able to put a whole thousand towards the mortgage and it is really worth much more taking interest into account.
    I think it is easier to pare things down to the minimum when it is just yourself. My son was aghast when he found kitchen towel in the washing machine but the strong stuff washes just like jcloths so why not?

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  16. fantastic, not only your attitude to spending, but the over payment, it really does make a difference to the mortgage balance, I am constantly juggling little pots of money with my 3 to feed, but it works for me, and I am getting better at taking my own food everywhere, it saves a small fortune when you have kids, let alone just for myself

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  17. hmnnn...feeling a bit guilty lately for spending on wants--as opposed to needs. definitely need to incorporate your thinking: "there has to be a good reason for me to open my purse." well said! enjoy your camping, MQ!

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  18. Stick to your guns on the spending side, as you are the only one that knows how to balance the books correctly. Whoever is put out by you not joining in the rounds of drinking does not need to be your mate. Enjoy the camping. I keep fingers crossed for decent weather for you!

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  19. Mortgage interest is calculated on a daily basis therefore the fewer days you owe them the less interest will be charged. If you made a standing order for £83pcm additional payment to Santander the annual amount would be the same as your £1K cheque but your debt would have reduced more because each month you'd have been charged £83 worth less interest. Just a thought :O)

    Jane
    Rattlebox

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  20. Thank you for that info Jane, I am not clever enough to work that out, maths being my worst subject. I do like the satisfaction of saving up and handing a cheque over the counter. Makes me feel that my money saving has paid off, and I am in control, rather than them taking the money from my account.

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  21. That's great, I bet you felt pretty chuffed when you handed over the cheque. I like reading posts about your moneysaving and what you've achieved etc, very inspiring. Was watching a programme on ITV last night about pensions etc, and how people aren't saving enough for retirement. I was sitting thinking to myself, Ilona would show them a thing or two. Here's the link to the programme.

    http://www.itv.com/itvplayer/video/?Filter=269426

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  22. Ilona, a standing order isn't like a direct debit. YOU set it up, say how much for, say when it's to be paid, weekly, monthly, every 2/3/6 months etc and you can cancel at any time and start one up any time. If you did that then every time you make a change which means a small regular saving - like your pet insurance for instance - you can add that sum to your standing orser, it's truly astonishing then how all the small sums add up to substantial savings.

    Or you could spend it on drink, drugs and rock n roll of course :O)

    Jane
    Rattlebox

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