PH Debt-free wannabe thread!
Discussion
HandsomeBob said:
I guess it depends on how you view freedom, for me it's doing what I love and choosing to work those hours when I could take the day off and do nothing but what's that going to do for me?!
When times are hard you knuckle down - you don't need to spend money to have fun a nice walk in the park with your wife and kids kicking a ball about can be a lot more fun than days out here and there or gifts an meals out. When debt is cleared or down to tolerable levels then full yer boots
Just ran a credit check score and was scored 1/5. This is serious cause for concern.
How does everybody live cheaply? I simply cannot do it.
I've recently graduated and I'm earning £16k a year . Not a lot.
I have 3.5k of Student Overdraft I need to clear.
In my hand I get £1141 each month.
From this I pay.
£350 Rent (This includes bills e.t.c)
£40 for my phone
This leaves me £751 for the month.
I want to be out of debt as quick as possible (seeing as my OD is interest free at present).
Trying to put £350 a month towards it.
Leaving me £400 a month to live on. £100 a week. This should be more than enough (I'm walking distance to walk - although I take the car!).
I think it's going to be a case of living on 80p cuppasoups and just walking everywhere for a while.
I tend to find that my wages last half the month. And the last two weeks are a struggle. My folks tend to help me out around week 3/4 of the month (£150 or so). I'm fed up being skint/in debt. I don't think I'd mind being skint as much if I was in the black.
Tips appreciated!
How does everybody live cheaply? I simply cannot do it.
I've recently graduated and I'm earning £16k a year . Not a lot.
I have 3.5k of Student Overdraft I need to clear.
In my hand I get £1141 each month.
From this I pay.
£350 Rent (This includes bills e.t.c)
£40 for my phone
This leaves me £751 for the month.
I want to be out of debt as quick as possible (seeing as my OD is interest free at present).
Trying to put £350 a month towards it.
Leaving me £400 a month to live on. £100 a week. This should be more than enough (I'm walking distance to walk - although I take the car!).
I think it's going to be a case of living on 80p cuppasoups and just walking everywhere for a while.
I tend to find that my wages last half the month. And the last two weeks are a struggle. My folks tend to help me out around week 3/4 of the month (£150 or so). I'm fed up being skint/in debt. I don't think I'd mind being skint as much if I was in the black.
Tips appreciated!
Welshbeef said:
That is a low wage for a graduate. We pay non graduates. 18-20yo £18k+ that said they are good calibre individuals.
However the wage is what it is.
I know. I think it's low even for Accountancy. Granted I'm in Inverness. But living costs aren't particularly cheap here.However the wage is what it is.
UpTheIron said:
Walk to work.
Do you smoke? If so, stop,
Do you drink? Drink less.
Write down everything you spend in a month, work out what isn't necessary and start from there... granted it was 15+ years ago, but I had similar income and outgoings (rent, running a car, food) and I coped.
Don't smoke.Do you smoke? If so, stop,
Do you drink? Drink less.
Write down everything you spend in a month, work out what isn't necessary and start from there... granted it was 15+ years ago, but I had similar income and outgoings (rent, running a car, food) and I coped.
Drink - Prefer to drink in the house. Usually end up in the pub though.
Bohally said:
Just ran a credit check score and was scored 1/5. This is serious cause for concern.
How does everybody live cheaply? I simply cannot do it.
I've recently graduated and I'm earning £16k a year . Not a lot.
I have 3.5k of Student Overdraft I need to clear.
In my hand I get £1141 each month.
From this I pay.
£350 Rent (This includes bills e.t.c)
£40 for my phone
This leaves me £751 for the month.
I want to be out of debt as quick as possible (seeing as my OD is interest free at present).
Trying to put £350 a month towards it.
Leaving me £400 a month to live on. £100 a week. This should be more than enough (I'm walking distance to walk - although I take the car!).
I think it's going to be a case of living on 80p cuppasoups and just walking everywhere for a while.
I tend to find that my wages last half the month. And the last two weeks are a struggle. My folks tend to help me out around week 3/4 of the month (£150 or so). I'm fed up being skint/in debt. I don't think I'd mind being skint as much if I was in the black.
Tips appreciated!
I'm sure you could trim the mobile bill by quite a bit.How does everybody live cheaply? I simply cannot do it.
I've recently graduated and I'm earning £16k a year . Not a lot.
I have 3.5k of Student Overdraft I need to clear.
In my hand I get £1141 each month.
From this I pay.
£350 Rent (This includes bills e.t.c)
£40 for my phone
This leaves me £751 for the month.
I want to be out of debt as quick as possible (seeing as my OD is interest free at present).
Trying to put £350 a month towards it.
Leaving me £400 a month to live on. £100 a week. This should be more than enough (I'm walking distance to walk - although I take the car!).
I think it's going to be a case of living on 80p cuppasoups and just walking everywhere for a while.
I tend to find that my wages last half the month. And the last two weeks are a struggle. My folks tend to help me out around week 3/4 of the month (£150 or so). I'm fed up being skint/in debt. I don't think I'd mind being skint as much if I was in the black.
Tips appreciated!
Bohally said:
Welshbeef said:
Its possible but its only £40 anyway PCM so not much to save it in entirety.
Contract is till Apr 2014 so stuck there. Will be cutting it down come April though.Bohally said:
Very true. I believe I am due a pay rise in January (after first set of exams). Even earning 20k would make a huge difference!
Have you gone onto fixed energy deals? Fuel fuel discount DD discount?Do you use the nectar points or clubcard to maximise your discounts?
Do you use quidco for your purchases?
Do you change your clotes often? As in buy new stuff if so make them last two years or say one more year than you currently change them at.
Have you tried switching all your food shoppjg to own label - you may find everything you buy is fine or some things not so good in which case switch back to the brand.
Try online grocery shopping - make a shopping list derived from your daily meals. Cook big batches then freeze them it will reduce costs.
When things you use are on big promotions - which have long use by dates lets say beer buy a years worth yes you take a hit in cashflow but you gain in savings down the line which you will certainly use.
Buy shower gel and hand wash etc in huge bulk as in years worth when on silly cheap deals
When you think about going out for a meal with friends instead invite them round to your and you cook you will spend much less than if you paid for it if out you'll gain a new hobby plus they will bring some plonk too.
When you host a BBQ or go round to someone else's make your own burgers (dead easy and much tastier).
Another one is use freecycle seriously its brilliant. We have used it for ages saved a fortune and basically its stuff which others are literally going to bin. The best one we have had is a 26 inch petrol mower.... Free (also a god send for kids toys). We donate stuff back to it too things we no longer need.
Go camping holidays you'll save a fortune over hotels and I'd say unless its raining its so much more fun and memorable.
Good luck and enjoy.
Welshbeef said:
Have you gone onto fixed energy deals? Fuel fuel discount DD discount?
Do you use the nectar points or clubcard to maximise your discounts?
Do you use quidco for your purchases?
Do you change your clotes often? As in buy new stuff if so make them last two years or say one more year than you currently change them at.
Have you tried switching all your food shoppjg to own label - you may find everything you buy is fine or some things not so good in which case switch back to the brand.
Try online grocery shopping - make a shopping list derived from your daily meals. Cook big batches then freeze them it will reduce costs.
When things you use are on big promotions - which have long use by dates lets say beer buy a years worth yes you take a hit in cashflow but you gain in savings down the line which you will certainly use.
Buy shower gel and hand wash etc in huge bulk as in years worth when on silly cheap deals
When you think about going out for a meal with friends instead invite them round to your and you cook you will spend much less than if you paid for it if out you'll gain a new hobby plus they will bring some plonk too.
When you host a BBQ or go round to someone else's make your own burgers (dead easy and much tastier).
Another one is use freecycle seriously its brilliant. We have used it for ages saved a fortune and basically its stuff which others are literally going to bin. The best one we have had is a 26 inch petrol mower.... Free (also a god send for kids toys). We donate stuff back to it too things we no longer need.
Go camping holidays you'll save a fortune over hotels and I'd say unless its raining its so much more fun and memorable.
Good luck and enjoy.
Cheers for the tips. I think it's a case of just trying to be as frugal as possible until salary goes it. It isn't half demoralising though!Do you use the nectar points or clubcard to maximise your discounts?
Do you use quidco for your purchases?
Do you change your clotes often? As in buy new stuff if so make them last two years or say one more year than you currently change them at.
Have you tried switching all your food shoppjg to own label - you may find everything you buy is fine or some things not so good in which case switch back to the brand.
Try online grocery shopping - make a shopping list derived from your daily meals. Cook big batches then freeze them it will reduce costs.
When things you use are on big promotions - which have long use by dates lets say beer buy a years worth yes you take a hit in cashflow but you gain in savings down the line which you will certainly use.
Buy shower gel and hand wash etc in huge bulk as in years worth when on silly cheap deals
When you think about going out for a meal with friends instead invite them round to your and you cook you will spend much less than if you paid for it if out you'll gain a new hobby plus they will bring some plonk too.
When you host a BBQ or go round to someone else's make your own burgers (dead easy and much tastier).
Another one is use freecycle seriously its brilliant. We have used it for ages saved a fortune and basically its stuff which others are literally going to bin. The best one we have had is a 26 inch petrol mower.... Free (also a god send for kids toys). We donate stuff back to it too things we no longer need.
Go camping holidays you'll save a fortune over hotels and I'd say unless its raining its so much more fun and memorable.
Good luck and enjoy.
Bohally said:
Cheers for the tips. I think it's a case of just trying to be as frugal as possible until salary goes it. It isn't half demoralising though!
Thing is yes your salary is going up but the things you buy are going up by the same rate and having a low salary means that your total salary uplift could be absorbed by these increases. If you were on say £100 k and a low % uplift you'd cover all the cost rises ie your inflation and still have cash left over but earning low wage can mean you have nothing or less than nothing left over ie effective pay cut - this is what the unions chant out about the public sector 1% payrises they are not real payrises as inflation is net £ higher so in effect pay cuts ..
Welshbeef said:
Thing is yes your salary is going up but the things you buy are going up by the same rate and having a low salary means that your total salary uplift could be absorbed by these increases.
If you were on say £100 k and a low % uplift you'd cover all the cost rises ie your inflation and still have cash left over but earning low wage can mean you have nothing or less than nothing left over ie effective pay cut - this is what the unions chant out about the public sector 1% payrises they are not real payrises as inflation is net £ higher so in effect pay cuts ..
Plus by the time I can retire the state pension age will be around 103. Happy days If you were on say £100 k and a low % uplift you'd cover all the cost rises ie your inflation and still have cash left over but earning low wage can mean you have nothing or less than nothing left over ie effective pay cut - this is what the unions chant out about the public sector 1% payrises they are not real payrises as inflation is net £ higher so in effect pay cuts ..
okgo said:
£350? I think we can safely say that, yes, living costs are LOW there.
£700 a month up there should be more than enough, just buckle down.
In comparison to down south, yes! I've made a bit of plan/budget today. Got a bit of extra income (expenses!) this month, so figure that if I put a load towards it this month. Then Just pay £230 a month all of next year, I'd be debt free by Xmas 2014. That is the plan...!£700 a month up there should be more than enough, just buckle down.
All these ideas to save money are great and chip away a few pounds here and there but the easiest way is earn more, put some effort into job applications IMO. Obviously be cautious of the "grass is greener" syndrome, I've been stung with that once but found the easiest way to increase your salary when young is chop and change jobs going for a pay increase every time.
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