October 7, 2008 at 12:06 am #372497
Just counted my change jar and I have $46.55 in it so I’m almost halfway there.:tup:
We are completely debt free but as I was saying to DH just the other day we could easily save double what we do now. Having a mortgage forces you to put money away each week but when it’s gone you tend to get a bit laid back about saving.
Actually I stumbled across a really easy way to cut a minimum $30 a week off our food bill. I told my 21yr old DS from now on he has to buy all his own food.:lol: He was shocked but it’s about time he learnt how to shop wisely and look after himself because one day he will move out of home(at least I think he will.:confused: )
Foxtel is going at the end of the month at a saving of $60.65 per month. I will put these savings towards extra water tanks, chook run and various other outside jobs that need to be done.
I already have an automatic debit set up which puts money into my ING acc each week but I would really like to increase that amount. I will discuss this with DH and convince him it is a wise thing to do.;)October 7, 2008 at 12:47 am #372498
Bad news Michelle – on the news this morning they said the average age ‘kids’ move out of home now is 29 :jawdrop: I find it hard to believe, but if its correct, you could have another 8 years of him 😆October 7, 2008 at 1:04 am #372499
Count me in aswell. I will try and save where i can even if it is only a couple of $$$. In the coming weeks I will be doing away with my front garden which currently as flowers in it and turning it over and putting plenty of muck in it to make it an extra veg gardenOctober 7, 2008 at 2:52 am #372500
Today I counted up the coins in my money box and took it to the bank. While it doesn’t count toward the challenge as it was money I’d already saved, my $118 in coins will now earn 80 cents in interest for the month.
It all adds up! 😀October 7, 2008 at 5:13 am #372501
I am in…….got $24-95 in my small change container so am going to go bank it tomorrowOctober 7, 2008 at 5:21 am #372502
I am SO in on this!
I was just listening on ABC radio – someone rang in on their talking point regarding saving money and suggested stopping 1 cup of bought coffee a day – in the city it costs $3.50 and that is a saving of over $1200 in a year – just for stopping a cup of coffee a day!
This is my first year of growing vegies and have chooks for eggs so I think I am saving about $30 a week roughly at the moment. I also started baking bread so that is saving about $3 a week.
Hmmm.. my committment to save this $100 – I’m pondering I might stop getting my horse shod – and go barefoot. I only ride him at home in the sand arena and on grass. It costs $109 every 6 weeks..October 7, 2008 at 5:24 am #372503
Oh oh oh – and will ban myself from any delivered dinners for a month and see how we cope. We generally order some italian or similar one night a week – will just go with toasted sangas if we can’t be bothered cooking 🙂October 8, 2008 at 1:55 am #372504
I have part of my pay go into a debit credit (I can use it as a credit card but only spend the money that’s there, it can’t go into debt) With this money I pay all my bills and living expenses except mortgage.
The rest of my pay goes into a savings account with the bank my mortgage is with. I pay a certain amount each pay to repay a debt to a relative and the remainder goes onto the mortgage.
This amount is generally 100-200 dollars above my minimum payment. Anything extra on my mortgage means less intrest so all my savings are on the mortgage. If I need extra money for something I have to plan ahead, transfer the money from mortgage to savings and then withdraw it to use it.
I will try and save more by avoiding wastage, and will be cancelling my Gym membership as soon as the 12 months are up (I got it when I didn’t have my own place and no longer need it) I am also considering getting rid of private health insurance, saving the money instead, as I have not made a claim in 6 months and there are none of the really beneficial services where I live anyhow. I will save the money instead and pay for services when I do need them.October 8, 2008 at 2:58 am #372505
Adding to your mortgage payments is an excellent way to save without the temptation to spend it. It has a double-whammy effect – you save and you also save interest which over the life of the loan, really adds up. If you have a mortgage, see if you can pay off extra $$ by increasing your regular payment by a small amount. Even if you round it up or ignore rate cuts and keep paying the same…
We also recently gave up our cable TV. We were given an antenna and bought a digital set top box (they are really cheap these days). We got cable originally because the reception here was terrible. With the set top box, the picture is very clear. The saving is about $50 per month.October 9, 2008 at 4:03 am #372506
So tempted to give up the home phone since it’s only telemarketers who ever call. That means the internet goes too though! 🙁 Then I’ll have to use my sisters internet when I have to. And miraculously there will be so many more hours in the day that I won’t know what to do with myself. Maybe I’ll even get to do some housework. That ought to save us at least $90 a month but we’re just not quite brave enough.October 10, 2008 at 1:15 am #372507
Checked out the Gym, I only have one more month so I am am sticking in for that and then stopping my membership! I won’t save money in October but I will save $500 plus next year. Next step is cancelling health insurance. I’m cautious about this, but figure if I save it really won’t make a differnce. I may look at taking out income protection insurance instead just to be safe….Any thoughts?October 10, 2008 at 12:42 pm #372508
I’m going to use this challenge to push me to set up our extra account for savings. We used to have a great system with 3 sub accounts on our main account, which meant one for bills, one for savings, and one for general expenses, worked great. But now with our new bank, they don’t have that system, but we do have an offset account, so don’t really want to open up several new accounts that won’t be offsetting our loan. However, as we technically have two loans (one land and one construction), we should be able to have two offset accounts, thus having at least an extra one for bills/savings (will have to combine them, but that should still work out OK). Will get DH to call and organise it on Monday. Then I plan to try to save at least $100 out of all the cashbacks we’ve had (bond and tax return) to start off our emergency fund.October 10, 2008 at 9:06 pm #372509
im in, i try to put something away every week sometimes its $5 sometimes its more but i will start fresh for October & as last weeks pay was in october ill start with the $30 i had put away
thanks for the challenge:hug:
another $15 added to my tin:tup:October 11, 2008 at 4:19 am #372510
When I get paid each Wednesday lunch time, I put it into our high interest account, so if I need it its just a ph call away but most of the time its left there. My son puts $125 on the table each week and $25 is for the power along with our $25 and I work out what we need for the week and try to live on $100.
The power is going really well we are down to using $15 a week as we have elec hot water system, I’m getting a surplus up, to go towards summer when we need the cooler on.October 12, 2008 at 8:40 pm #372511
Wow, Robyne, that’s really great – $100 for the week is an excellent habit.
We save on social stuff by sharing dinners with friends at each others houses. It is so much cheaper to say ‘bring a plate’ than to go out somewhere for dinner. And a dinner party at home does not need to be fancy – just a simple barbecue or a quiche and salad or something -whatever you would normally have for dinner, just shared. Everyone brings what they will drink and we have a great time.
Another way we have learned to save money is by ‘ruining takeaway’. We love Indian takeaway but I had a perfectly good Indian cookbook sitting idle in the cupboard. Over several weekends I tried out a few recipes from the book – to great success! Now I have a selection of curries for which I keep the ingredients in the house so that I can make them when we feel like it. Once you have all you need sitting right there and you have practised a few times, it doesn’t take long to get it all ready. Now when we order from the takeaway, it isn’t as good as the homemade version and knowing this stops us from ordering out. I am currently trying my hand at some authentic Chinese recipes.:tup:
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