Saving Money

[TrueBlue]

What's your tips on saving money, what tricks do you do? Jars? Banks? Under the mattress?

I earn in my opinion a decent wedge mostly cash, don't get me wrong I put the work in but it always seems like I will save tomorrow but never today!

 

[Pubey]

Don't drink it all away. Budget, and stick to it!

 

[Benfleet A1]

Two bank accounts. One for savings one for everything else.

 

[Pubey]

Two bank accounts. One for savings one for everything else.

Yeah we have three bank accounts (and three savings account:)

Joint account - all bills/mortgage etc. Both salaries go into it. Family stuff comes out of it (food, days out, diesel etc). Savings goes out from here

My personal account - Each month I deposit money from my paycheque into here. Any personal expenses (nights out with the lads, football, clothes etc) goes from here

My missus' personal account - same as above.


We find that having a personal account each is a good way to make sure you're not completely ****ing money away on crap because it has to last a month.

The savings accounts are 1 x family savings, and then one each for the kids.

 

[Uncle Leo]

Make money work for you. If you're going to have a credit card, get one like the Santander 123. You pay a fee but get cashback of up to 3% on certain purchases. Same for their current account.

I'm sure there are plenty of others out there and I'm no brand ambassador for Santander, that's just the one I know about!

Spooky edit - as I was writing this post, I got an email from....Santander

 

[MK Shrimper]

Sadly somethings have to go when you have kids. I can't afford many trips out, either with Mrs MK or with my mates. I have to pick and choose which SUFC games I attend.

We've done away with all plastic and just take out the budgeted amount per week and live on that.

It's not great, but least I have food on the table and a roof over our head that we own - I'll be loaded when I retire!

 

[Massimo Giovanni]

About 35 years ago I started "doing" small, £10-20 per month ten year endowments. Just one a year, and a small amount such that I didn't hurt by the "saving" YET the dividends are enough for our holidays and a bit besides.
A few years I have put the money into longer, fixed term savings at higher interest.
In answer to the main question there isn't a quick way to get a savings nest egg but there are ways to organise and make it happen that don't need a lot of thought or effort.

 

[mattytheshrimper]

I have never really been able to save but since me and the Mrs found out that we have our 1st little shrimper on the way the last 4 months have been save save save. I literally have all my outgoings coming out the day I get paid, I write down how petrol/general money I need per week and have to be really tight and then I just save the rest and put it into a seperate savings account.

I am talking living on the bare basics but its for the greater good. I have managed to save a really good amount in quite a small space of time so it can be done.

Worth noting that I am saving for baby stuff, deposits for a flat and all the furniture so safe to say I have quite a lot to save for. Also worth noting that I havnt had much of a social life for 4 months and have only had anouth 10 pints of beer during that time as well as giving up smoking so I have had to make changes.

Finally, no more away games for a while :(

 

[MK Shrimper]

Matty - there must be a local Buy & Sell group for your local area on FB. You can get good quality stuff for peanuts. Kids grow out of clothes so quick so why spend £5 on one Tshirt when you can get a huge bundle for the same price?

 

[RobM]

I'd suggest - know the difference between 'need' and 'want'.

Need - food, water etc.

Want -I-phone, plasma TV etc.

Getting priorities right may be boring but it saves problems.

 

[Uncle Leo]

I have never really been able to save but since me and the Mrs found out that we have our 1st little shrimper on the way the last 4 months have been save save save. I literally have all my outgoings coming out the day I get paid, I write down how petrol/general money I need per week and have to be really tight and then I just save the rest and put it into a seperate savings account.

I am talking living on the bare basics but its for the greater good. I have managed to save a really good amount in quite a small space of time so it can be done.

Worth noting that I am saving for baby stuff, deposits for a flat and all the furniture so safe to say I have quite a lot to save for. Also worth noting that I havnt had much of a social life for 4 months and have only had anouth 10 pints of beer during that time as well as giving up smoking so I have had to make changes.

Finally, no more away games for a while :(

Shout me out if you need a car seat!

I'd try and flog you a pushchair but I see you refer to '1st little shrimper' and ours is a twin one...

 

[RobM]

Matty - there must be a local Buy & Sell group for your local area on FB. You can get good quality stuff for peanuts. Kids grow out of clothes so quick so why spend £5 on one Tshirt when you can get a huge bundle for the same price?

I'm not suggesting Matt is like this but some parents think "Our baby must have the best!"
At a week old, a child's priorities are to be clean, fed and watered, warm and safe. the label on its cot really doesn't matter. Unless it has SUFC on the side :)

 

[MK Shrimper]

I'm not suggesting Matt is like this but some parents think "Our baby must have the best!"
At a week old, a child's priorities are to be clean, fed and watered, warm and safe. the label on its cot really doesn't matter. Unless it has SUFC on the side :)

Oh I know mate, women are the worst for this :winking: But we've sold a lot of stuff for peanuts and a newborn babygrow will become too small in a matter of weeks.

I've also free-cycled a lot of MK Jnr's stuff - her old cot for example. It was in perfect knick, far too good for the skip.

 

[mattytheshrimper]

Thanks for the help guys, we havn't even thought about buying anything yet but I'm not one to shy about from a 2nd hand bargain so I will bare in mind your suggestions. Thanks again.

It is crazy how much some stuff costs though, and like some of your have suggested you can get far better deals with a bit of searching about.

 

[Napster]

Thanks for the help guys, we havn't even thought about buying anything yet but I'm not one to shy about from a 2nd hand bargain so I will bare in mind your suggestions. Thanks again.

It is crazy how much some stuff costs though, and like some of your have suggested you can get far better deals with a bit of searching about.

Boot fairs used to be good but a bit hit and miss now. Woolies used to be the best for children's stuff.

Moneysavingexpert is your friend though. More advice on there than you can shake a stick at.

 

[MK Shrimper]

Thanks for the help guys, we havn't even thought about buying anything yet but I'm not one to shy about from a 2nd hand bargain so I will bare in mind your suggestions. Thanks again.

It is crazy how much some stuff costs though, and like some of your have suggested you can get far better deals with a bit of searching about.

Oh & congrats by the way. :smile:

 

[Pubey]

I have never really been able to save but since me and the Mrs found out that we have our 1st little shrimper on the way the last 4 months have been save save save. I literally have all my outgoings coming out the day I get paid, I write down how petrol/general money I need per week and have to be really tight and then I just save the rest and put it into a seperate savings account.

I am talking living on the bare basics but its for the greater good. I have managed to save a really good amount in quite a small space of time so it can be done.

Worth noting that I am saving for baby stuff, deposits for a flat and all the furniture so safe to say I have quite a lot to save for. Also worth noting that I havnt had much of a social life for 4 months and have only had anouth 10 pints of beer during that time as well as giving up smoking so I have had to make changes.

Finally, no more away games for a while :(

Congrats Matty - I mean that.:thumbsup:

A good tip is not to buy baby stuff until the little one arrives and you actually work out what you need. We bought and then flogged quite a lot of stuff which was pretty pointless, and a significant waste of cash.

Somethings are probably worth paying what you can for though - in particular a good pram.

My missus keeps a list of things she feels our son and Baby #2 needs and uses that of a list for potential presents at birthday/christmas/random family visits. Kids grow out of toys and clothes so quick it's not really worth buying tons of stuff.

 

[MK Shrimper]

Somethings are probably worth paying what you can for though - in particular a good pram.

Though not one that's nearly £500 because some Islington yummy mummy has one. You can get a decent one for under a ton.

 

[mrsblue]

Though not one that's nearly £500 because some Islington yummy mummy has one. You can get a decent one for under a ton.

500!!!!

I know somebody who paid £1000 yes a grand for the pram,potty and one big waste.

 

[OldBlueLady]

I have never really been able to save but since me and the Mrs found out that we have our 1st little shrimper on the way the last 4 months have been save save save. I literally have all my outgoings coming out the day I get paid, I write down how petrol/general money I need per week and have to be really tight and then I just save the rest and put it into a seperate savings account.

I am talking living on the bare basics but its for the greater good. I have managed to save a really good amount in quite a small space of time so it can be done.

Worth noting that I am saving for baby stuff, deposits for a flat and all the furniture so safe to say I have quite a lot to save for. Also worth noting that I havnt had much of a social life for 4 months and have only had anouth 10 pints of beer during that time as well as giving up smoking so I have had to make changes.

Finally, no more away games for a while :(

Lovely news, congratulations. As others have said though, it does pay to look around, try googling NCT Nearly New sales and see if there are any locally. You can get excellent stuff second hand, and also as others have said, they grow so quickly that you can get away with few clothes to begin with, just a range of sizes.