What cut backs have you made recently?

[TheRainMaker]

Just saved £55 a month by reducing our Virgin services down to internet only.

We were paying for TV channels and a phone line both of which we have not used for years.

My mobile is up next month and this will be the first time I won’t upgrade (just don’t need to) saving £39.21.

Edit, binned off apple+ at £5.00 a month.

Edited by TheRainMaker on Friday 17th June 19:04

[paralla]

I work in an office in the heart of London. Every day I see all my work colleagues eating £8-£10 lunches from Itsu/Pret/wherever. There is a kitchen at the office with a fridge, coffee machine and microwave. I make my own lunch and take it with me to work every day.

I often say to them “this is why I’ve got a Porsche GT3 and you haven’t”.

[BorkBorkBork]

paralla said:

I work in an office in the heart of London. Every day I see all my work colleagues eating £8-£10 lunches from Itsu/Pret/wherever. There is a kitchen at the office with a fridge, coffee machine and microwave. I make my own lunch and take it with me to work every day.

I often say to them “this is why I’ve got a Porsche GT3 and you haven’t”.

I read earlier that in the US, nearly 40% of those who earn over $250k live wage to wage. I suspect it’s similar here.

It’s about time we had monetary policy that encouraged people to save more. This obsession we have with owning property doesn’t help.

[bitchstewie]

paralla said:

I work in an office in the heart of London. Every day I see all my work colleagues eating £8-£10 lunches from Itsu/Pret/wherever. There is a kitchen at the office with a fridge, coffee machine and microwave. I make my own lunch and take it with me to work every day.

I often say to them “this is why I’ve got a Porsche GT3 and you haven’t”.

Lunches is something that's always baffled me.

Spend £10/day on lunch and that's £2500/year.

Chuck that in a compound interest calculator and then tell me whether you'd prefer eating out every work day of your working life or retiring early with an extra half a million in the bank.

[hotchy]

BorkBorkBork said:

paralla said:

I work in an office in the heart of London. Every day I see all my work colleagues eating £8-£10 lunches from Itsu/Pret/wherever. There is a kitchen at the office with a fridge, coffee machine and microwave. I make my own lunch and take it with me to work every day.

I often say to them “this is why I’ve got a Porsche GT3 and you haven’t”.

I read earlier that in the US, nearly 40% of those who earn over $250k live wage to wage. I suspect it’s similar here.

It’s about time we had monetary policy that encouraged people to save more. This obsession we have with owning property doesn’t help.

I wouldnt call it an obsession I'd call it being sensible. Own your own by retirement and financially you will be comfortable. Add in a £600 bill a month (or whatever it'll be by then, probably in the thousands when I retire...) suddenly your pension goes a long way or you can suddenly retire well before your passed your sell by date so can actually enjoy it before you hit the care home age, and by then who cares.

Take now for instance. Ones still paying rent will feel these new price hikes. Ones who don't are the ones you'll see pottering around the garden centres having a good time ill keep my obsession thanks.

[DT1975]

We had a slight domestic yesterday. It was 25 degrees, full sun with a nice breeze and the missus had the tumble dryer going...wtf ?

Softening the towels apparently at 900w an hour....which is better than the 3kw version she wore out a few months ago.

[bad company]

No cut backs as such but I do grumble more about the cost of stuff. I am an old git now so I reckon that’s allowed.

[red_duke]

Nickbrapp said:

I had £9.50 one week for saying something was missing when I actually had it. Suckers.

You must be so proud

[gotoPzero]

Rough monthly saving in ( )

Shopping at Aldi for a lot of food / drink (£100)
Turf off hot water in the evenings (£30?)
Turn off electric UFH (£100?)
Cutting takeaway down by half (£40)
Reduce giff gaff to lower package (£8)
Cancelled Netflix (£10)
Take packed lunches to work more often (£20)
Driving with a lighter right foot (£20)

Edit to add a few more things I thought of

Edited by gotoPzero on Sunday 19th June 09:08

[bad company]

BorkBorkBork said:

I read earlier that in the US, nearly 40% of those who earn over $250k live wage to wage. I suspect it’s similar here.

It’s about time we had monetary policy that encouraged people to save more. This obsession we have with owning property doesn’t help.

So if none of us own property who do we rent from?

I’m retired and very glad that I paid a mortgage while working so I can live rent and debt free now.

[PistonHead007]

thepeoplespal said:

richardxjr said:

Sold the third car Boxster, trimmed everything so I can salary sacrifice as much as poss into pension. It helps that I can start drawing down the tax free bit from March though if necessary.

I thought if you draw on your pension, the maximum you can save into it afterwards would be £4,000 a year, I'd certainly look into that before drawing on your pension unnecessarily, especially if you are trying to put in as much as possible and ?company is doing the same.

The annual allowance doesn't drop if you ONLY take tax free cash, or buy an annuity or start a DB income. If you take an UFPLS or drawdown withdrawal then you're busted down to £4,000 apart from DB schemes where you still have the £40,000 allowance.

[Jamescrs]

I've swapped my supermarket shopping to Aldi, saves me at least £20 a week and me and the family have been pleasantly surprised by the food quality there.

I've definately cut down the miles I drive for leisure, day off work today and I'd normally go.to the coast for the day but instead I've stayed local which has the knock on effect of saving the money I would have spent when I got there.

I've been through my wardrobe and realised I've easily got enough clothes to last me the rest of the year so.ive made a pact with myself im not buying any clothes for the rest of the year which will prevent impulse purchases.

I'm.still happy I won't be changing my cars for cheaper options I considered getting a cheaper daily but I don't really need to and there's nothing jumping out at me so.ill keep my BMW 240 and suck up the fuel costs. I've also got a Boxster in the garage but come October I'll SORN it and store it till next year, no real hardship and it won't be getting sold.

[BorkBorkBork]

hotchy said:

BorkBorkBork said:

paralla said:

I work in an office in the heart of London. Every day I see all my work colleagues eating £8-£10 lunches from Itsu/Pret/wherever. There is a kitchen at the office with a fridge, coffee machine and microwave. I make my own lunch and take it with me to work every day.

I often say to them “this is why I’ve got a Porsche GT3 and you haven’t”.

I read earlier that in the US, nearly 40% of those who earn over $250k live wage to wage. I suspect it’s similar here.

It’s about time we had monetary policy that encouraged people to save more. This obsession we have with owning property doesn’t help.

I wouldnt call it an obsession I'd call it being sensible. Own your own by retirement and financially you will be comfortable. Add in a £600 bill a month (or whatever it'll be by then, probably in the thousands when I retire...) suddenly your pension goes a long way or you can suddenly retire well before your passed your sell by date so can actually enjoy it before you hit the care home age, and by then who cares.

Take now for instance. Ones still paying rent will feel these new price hikes. Ones who don't are the ones you'll see pottering around the garden centres having a good time ill keep my obsession thanks.

All the wealth in this country is stored in assets that can’t be unlocked until older generations die. It’s the reason housing is so expensive, including rental property.

And this idea that we should be wage slaves during our most productive years to pay for an overpriced asset is ridiculous. And then, when we finally retire, we can somehow consider ourselves lucky that for the last couple of decades of our lives we can live mortgage free. Most people should be renting, and rents should have caps.

As I said, we’re obsessed with property in this country. It’s a very dysfunctional relationship.

[BorkBorkBork]

bad company said:

BorkBorkBork said:

I read earlier that in the US, nearly 40% of those who earn over $250k live wage to wage. I suspect it’s similar here.

It’s about time we had monetary policy that encouraged people to save more. This obsession we have with owning property doesn’t help.

So if none of us own property who do we rent from?

I’m retired and very glad that I paid a mortgage while working so I can live rent and debt free now.

I don’t know, who do the Germans rent their property from?

[DT1975]

BorkBorkBork said:

I don’t know, who do the Germans rent their property from?

Housing associations and local authorities. I think the UK is slowly steering back towards that but not by choice. I'm also certain that if market conditions were right many more Germans would like to actually own their property than rent.

[TCX]

MitchT said:

No holiday since 2019.
Eat out a max of about four times a year.
Take-away a max of about four times a year.
Drink a modest amount of alcohol about once a month.
Don't do nights out. Introvert so don't miss it anyway.
No pay TV whatsoever.
Cancelled gym membership.
Walk everywhere I can. Car only did 280 miles between its last two MOTs.
Boil kettle to wash up - 3.5 minutes to boil instead of immersion heater on for 20 minutes.
Two out of a possible eight light bulbs installed in the lounge.
Heated 150w fleece throw instead of using electric storage heaters.

Just need to get the OH to cut down her time in the shower!

I pray my dying words aren't..'i wish I'd put 3 instead of 2 light bulbs in living room'!
Seriously life does not have to be that grim even under current circumstances

[Rob_125]

We can't really cut back any more as I'm tight af.

We have 4 panels on the roofs, so dishwasher and washing machine only get run at peak light hours.

I cycle 7 miles to work and then home every day. Mrs runs around in her 1.2 fabia shed.

Generally shop in lidl. Joint income is probably pushing 90k. We will be okay, but I can see how some are going to get unstuck very quickly, if their lifestyle was pushing on their expenditure.

We already use a flask for coffees on walks, but might be more inclined to use this more often.

I currently put £400/month into a s&s isa and 15% salary into my pension, so there is a bit of meat on the bones if things get really bad.

[NewNameNeeded]

wong said:

I plan my meals for the next few days in advance BEFORE going to the supermarket. Together with creative use of leftovers, we hardly have any food waste. Surely the supermarket is cheaper than Hello Fresh.

Doing it your way it definitely would be. But we just don't have the time and previously had very little inclination to plan ahead like that. We've tried and it just never works that way for us, so Hello Fresh has been a big saving for us - money and TIME.

[wong]

NewNameNeeded said:

wong said:

I plan my meals for the next few days in advance BEFORE going to the supermarket. Together with creative use of leftovers, we hardly have any food waste. Surely the supermarket is cheaper than Hello Fresh.

Doing it your way it definitely would be. But we just don't have the time and previously had very little inclination to plan ahead like that. We've tried and it just never works that way for us, so Hello Fresh has been a big saving for us - money and TIME.

I'm retired, so have lots of time. Wife cooks for 4 days, I cook for 3. So we each get a break from cooking. Go to the supermarket twice a week.

[PostHeads123]

I got two cars one being my tip run car so ditched that as tax and insurance was £65 a month. Also now make sure lights etc turned off. My gas / elec and council tax alone is £727 a month