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  #1  
Old 21st July 2017, 15:29
newbs16 newbs16 is offline
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Default Saving money for a rainy day.

I was just wondering if any of you have any tips for saving money.

Do you put money in to another account so you can't spend it.

Also do you set up a regularly monthly payment to another account at the start or end of the month.

Do you set yourself a budget and only buy things within the budget.

I was considering applying for a loan because I'm not overly keen on being in debt so I'd probably spend less to try and pay it off quickly and would have enough saved to buy a newer car.

Any responses would be greatly appreciated.

Newbs
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  #2  
Old 21st July 2017, 15:59
Schmosby Schmosby is offline
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Default Re: Saving money for a rainy day.

You could put it into a fixed term account so you have no access, you can get them over 6 months or 12 months and just have the money transferred into it via a standing order.
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  #3  
Old 21st July 2017, 16:20
newbs16 newbs16 is offline
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Default Re: Saving money for a rainy day.

Quote:
Originally Posted by Schmosby
You could put it into a fixed term account so you have no access, you can get them over 6 months or 12 months and just have the money transferred into it via a standing order.
Could you recommend any?
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  #4  
Old 21st July 2017, 17:39
Ronnie_Pickering Ronnie_Pickering is offline
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Default Re: Saving money for a rainy day.

started putting away £20 a week into a future car/holiday fund.
Also notably its a rainy day today :D
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  #5  
Old 21st July 2017, 21:36
newbs16 newbs16 is offline
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Default Re: Saving money for a rainy day.

^ They are really good, please bore me lol.
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  #6  
Old 21st July 2017, 21:41
flumpsy flumpsy is offline
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Default Re: Saving money for a rainy day.

^^ Coinstar charge dont they ? I shove mine in the tesco auto checkouts now. Let it all build up then have one big shop for free right when I am worrying about money.

I can most certainly help with saving money on meals, its amazing how many different meals can be made basically with the same ingredients as a base. Buy the meat when it is reduced and freeze it then make up batches of various stuff and freeze it. stuff will generally keep for 3 or more days in the fridge though. Spag bol,curry, shephards pie, chili. There are just my examples of course, and you need to get your hands on a dead horse of course.

All use the came basic ingredients so you should never have any food getting chucked away because its going off.
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  #7  
Old 21st July 2017, 22:39
newbs16 newbs16 is offline
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Default Re: Saving money for a rainy day.

^ The daysaver is always going up in price.
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  #8  
Old 21st July 2017, 23:11
Schmosby Schmosby is offline
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Default Re: Saving money for a rainy day.

Quote:
Originally Posted by BigHeavy10
4 - Meal prepping, Most will know what it is and while it works great for a lot of people it might not work for you. Really simple, Sit down and plan your meals for the next month. Cook them in one go in one day. Freeze them in microwaveable tubs or ziplock freezer bags. I'm now eating on £45 a month by doing this. That's breakfast, lunch and dinner.
I used to do this. Not only does it save money, but it means you don't have to waste time cooking every day.
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  #9  
Old 21st July 2017, 23:23
flumpsy flumpsy is offline
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Default Re: Saving money for a rainy day.

^ I did it purely because I hate waste. Money, food anything. I dont plan a month ahead but when I get to the end of a batch I look at whats left and then just buy stuff to make that into another batch of something else. Reduced mince is so easy to find and so cheap. It freezes well and can be cooked from frozen, in fact honestly I prefer it from frozen it has more texture.
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  #10  
Old 23rd July 2017, 14:44
Schmosby Schmosby is offline
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Default Re: Saving money for a rainy day.

Quote:
Originally Posted by newbs16
Could you recommend any?
I've had a look.

If you have £1000-2000 initially you can get a fixed term account for around 1.5% interest.

If not you could open a regular saver, although the regular saver does allow you withdrawal of money during the term, it does have a penalty attached, so that should deter you. Modt of the banks are offering regular savers with rates from 2-5% but the real interest would be half of that due to the way the money builds up each month.
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  #11  
Old 23rd July 2017, 15:30
Quicksand Quicksand is offline
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Default Re: Saving money for a rainy day.

Thanks...certainly food for thought. Could make a few material changes my end with the ideas being shared here.

Newbs - I put £10 away a week for myself on the thurs once bills are paid - i do internet banking and for me it controls my money usage better, certainly paying online I prefer. I have three separate accounts for different things - one for daily, one for birthdays, one for christmas and one for me. Makes me feel happier I'm budgeting better.
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