View Full Version : Are you planning on making spending cutbacks?
Reading on the BBC news (http://news.bbc.co.uk/1/hi/business/7329796.stm) that 70% of households are planning on making spending cutbacks in the coming months. So is this you?
I know that I will have to with my current attempts to re-mortgage being hamnpered by a disctinct lack of good deals and higher rates being given out instead on those that are still available. This will definately eat into what spare money I would have otherwise spent.
Luckily at the moment for me its not to the point I cannot afford to spend if I wanted, but its so worrying with the whole situation (including possible effect on the job market too) that I need to actually start saving heavily and building up a bigger buffer on my mortgage just in case.
For me this means I will not be replacing my TV, will be spending the minimum on my house I can (just new fence panels and not a full landscaping of the back garden for example).
If everyone does this, of couse its going to be a knock on too with people stopping spending etc, but that's covered in carious other threads.
So the question is have you already or are you plannin on cutting back on spending given the current "credit crunch" and rising prices etc?
I have to re-mortgage in August.
Not sure what effect it is going to have - I'm getting married in August as well, so will have two incomes which should help with any mortgage increases. (don't currently live together)
I have however cut spending drastically in the last year, and can see this in my monthly bank balance being higher and higher every month.
I was supposed to by a new television, and have held off, also a Nintendo Wii, but I held back, and also a TV for the bedroom, but again, I have held off as I don't NEED it.
For the next few months, I need to do some small bits of work around the house, so I think any spare money will need to go on this stuff, like bricks for a new wall in place of the crappy fence (which me and my brother will build) etc...
The TV stuff can probably wait until after the wedding, when hopefully we might have a bit of spare cash through gifts - however I can see us wanting to save most of this.
Personally I believe with all this stuff in the media etc....which are constantly mentioning saving, price increases, doom & gloom - it has a self-fulfilling prohecy, as when people constantly get bombarded with it, they subconsciously spend less. I bet if the news reports were more positive saying everything is alright, and everyone is buying, then it would obviously have the opposite effect, and people would think, if everyone else is buying - I will buy too, and worry about it later.
So in answer to your question - I am spending less - but only down to the fact of all the speculation, otherwise i'd probably carry on ignorant to the fact.
DeadYankee
04-04-2008, 10:10
I took out a 10 year fixed mortgage last year so I'll only significantly change my ways if there are huge increases in utility bills
Not really.
All my wages go into overpayments and savings - so we pretty much live on OH's. At the moment, we still have enough without going into mine, even with the increases in pretty much everything.
We're not big spenders anyway so it's not going to affect us much.
Johnny Vodka
04-04-2008, 10:13
No, but I'm a careful spender anyway. :D I'll just be doing the usual stick-to-what-I-can-afford.
I've had to re-mortgage and I'll be paying less than I do currently. I'm coming off a variable rate (which shot up due to rate rises) on to a fixed rate.
I think that people that have a joing mortgage and a realistic level of borrowing and spending are the ones that are ok.
Myyself being single I have to pay everything from one salary so this is where its most worrying for me, should I lose my job I would be totally stuck!
My re-mortgage despite being for ~13k less the payments will be remaining the same or possibly higher it seems than my current fixed rate deal :|
On a similar topic then, how many weeks/months worth of essential payments (mortgage/rent, utility bills, food etc) do most people keep in savings?
No - I'm about to move house and have the money put on one side to buy soft furnishings and a few extra bits of furniture I want. Fortunately I had my mortgage all sorted before the reduction in deals we've seen in the last week or 2.
cjanderson
04-04-2008, 10:18
Am spending less, due to current job worries - but that means like Kryten says, deferring things like a new tv (only £500 but not exactly essential and current 28inch is fine).
we all seem to be drinking like fish at work now, so no cutting back there, and there will be a heck of a lot of leaving do's in the future!!
Johnny Vodka
04-04-2008, 10:20
I have a reasonable amount stuffed away in an ISA, which could be used in an emergency. Ideally, though, it will eventually supplement my pension.
My job (I think) is safe, if not spectacularly well paid.
I don't live a life of luxury, but I seem to have enough money to do most of the things I want (even if it means getting girls to pay 50% on dates ;)). In fact, my problem is more lack of time than lack of money!
charlie angel
04-04-2008, 10:20
I'm due to remortgage in August too, so am hoping that one or two deals might appear again before then (no breath holding here though). Just about to have a baby too, so that'll put a crimp into the 'spare' money fund.
On a similar topic then, how many weeks/months worth of essential payments (mortgage/rent, utility bills, food etc) do most people keep in savings?
I try to aim for 3 months. Not always easy though.
On a similar topic then, how many weeks/months worth of essential payments (mortgage/rent, utility bills, food etc) do most people keep in savings?
When we were overpaying (with Northern Rock) we were putting half my wages into the overpayment and half into savings. Sounds a lot but we pay for everything outright, so new car, any house stuff etc came out of savings.
Now we have a tracker offset so all goes into savings to offset the mortgage. We are currently saving for a conservatory, and nearly have enough for the price quoted. We need a bit more to be kept back in case of emergencies, so are waiting a couple of months.
OH is not convinced we are making the best of the money we put away so it going to explore other accounts (higher interest) and overpayments. We are lucky in that OH got assistance for 10 years when we moved, so we get some money towards the mortgage. When we first took it out it was 5 x his salary (NR - you can see why they went under) and without the assistance (which they didn't seem bothered about) there would have been no way we could afford it on his wage alone. Now it's about 3 x joint and we've reduced the term from 30 to 25 years with overpayments :)
In specific answer to your question, I would like at least 3 months put away in savings.
not because of the credit crunch but we are cutting back at the moment simply because we have other priorities now and there will be a lot of very big bills in the next few months.
over the year we'll probably end up spending what we normally do only it will be on things like prams and nappies rather than holidays and nights out.
10 year fixed mortgage (although it is massive) we are a bit skint at the moment but to be honest thats the after effects of moving, new dishwasher and a new washing machine... so we have to be "sensible" for a while...
We have an amount of shares come in every year and that pays for the niceties, holidays etc so it isnt all doom and gloom for us :)
Hmm, 3 months seems way too low to me in the current climate, I was thinking more 6-9 months minimum, and I know that is where I aim as an absolute minimum!
I'm always wanting to reduce my spending :lol:
If it wasn't for all the HD firesales I would have only bought one 'regular' DVD this month. Oh, and there is the HMV Enchanted with the extra disc... I would have bought two discs this month including that one, as it is I received 11 HD ones this morning!
Mind, my HD collection is almost complete now so I'll be stopping that soon.
Our childcare bills are due to drop quite a bit this year as our youngest starts school in September.
PS remortgaging in Feb 09.
cjanderson
04-04-2008, 10:28
think i have a few years worth - having no full time partner means no one else to fall back on.
has proved handy if i really hated a job - could resign with nothing else to go to. And handy if made redundant. Or got knocked up and had to have a year off :D Just gives you options.
Surely though mortgage overpayments are a form of savings? in that you could remortgage and release the money in 3 months if you really needed it.
I'm two and a bit years into a five year fix. I now earn more than I did when I took out the mortgage, and work is busier than ever - at the moment I have no reason to reduce spending. If anything things will get easier once I've done the first pass over my house and decorated all the rooms and finished the garden.
I do have friends who only took out two year fix rates that are ending soon - and its looking a little bleaker for them; however they're in the same situation as me regards their jobs.
i think we have a little over a months worth at the moment which worries me a little. we wont touch that if we can help it but we have almost no capacity to save until around october of this year. it wouldnt bother me as much if i didnt have a 5k credit card bill to pay off in august.
Am spending less, due to current job worries - but that means like Kryten says, deferring things like a new tv (only £500 but not exactly essential and current 28inch is fine)
I guess that's my main fear, if my job was totally secure with constant salary and pay rises/bonuses then I would not be bothered, but its that uncertainty that is really making me cut back on spending and look into savings (of one form or another). My bonuses should I get any and my credit card cashback will be paying for my holiday in May and my new fence and a shower pump, but outside that I'm halting anything not essential (without turning into a hermit or destroying my way of life).
I currently have Sky Digital (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=75) movies that I am tempted top drop to save another 17 quid a month, not a lot but as I have 100's of unwatched DVD's I do not see the point in keeping the movie channels for the couple a month I watch!
Car running costs are becoming stupid too, but I refuse to sell this car as the depreciation of such cars in the last 6 months has been horrific and makes it stupid to sell it.
Surely though mortgage overpayments are a form of savings? in that you could remortgage and release the money in 3 months if you really needed it.
Only if houses do not drop and mortgage deals are still available! I never count them as guaranteed savings unless they can be taken back without remortgaging (e.g. and offset mortgage).
Johnny Vodka
04-04-2008, 10:37
I'm always amazed by the things some people seem to think of as "essential". :D
I've got 2.5 years left on my very pleasing fixed rate mortgage and cut up all credit cards 2 years ago, so live on what we can afford. I don't have a need to cut back as I know how much money is left over each month and don't use any credit so if I want something hefty I have to save for it.
Currently things are okay, but when my fixed rate finishes I'll look again, I've only got a small mortage anyway (20% of my house value) plus every so often if I get a lump of cash I overpay to bring it down more.
I do not count sky as essential (and would cut that if needed), but for me my car is, my fence is (a good gust and it will come down!) so they have to be done. Things like landscaping, new TV, new bathroom suite etc are not essential so get delayed.
splobber
04-04-2008, 10:40
Hmm, 3 months seems way too low to me in the current climate, I was thinking more 6-9 months minimum, and I know that is where I aim as an absolute minimum!
I keep around 3 years essential expenditure in savings.
Not making any major cutbacks. Might drop my phone contract to a £15 a month tariff. I also want to get rid of Sky Movies, so will probably nob that off as well, although I don't know if I can do that with Sky HD.
Nah, I'm in the fortunate position of not having to worry about my financial situation (at the moment, at least), so no changes planned.
DJBenson
04-04-2008, 10:45
We have already cut back a fair bit this year already...we have gone down to one car, are both due to cancel our mobile contracts and have ditched Virgin TV. We also make mega savings by using Vonage VOIP in conjunction with www.saynoto0870.com so very rarely pay over £8/month for unlimited calls.
I sat down and worked out my credit last night - and my outgoings for credit alone were over £300 - add to that the cost of running the house (bills, mortgage, council tax etc) I was spending 80-90% of the income before any luxuries (hell - diesel is classed as a luxury these days).
I spoke to my loan provider who have consolidated my loans and credit cards on a 7.9% deal over 5 years so my credit outgoings have been slashed to £140/month.
Having a wedding to contribute to exactly 12 months from today, I am happy I made the decision. I am currently in a seconded position at work which will hopefully lead to a permanent (and much better paid) role.
I thought I'd struggle to get another loan deal with the "credit crunch" going on but as I am in good standing with both the loan provider and my credit card providers it wasn't any hassle at all.
The other half has the scissors ready to cut up the plastic - and good riddance too!! :P
cjanderson
04-04-2008, 10:47
I currently have Sky Digital (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=75) movies that I am tempted top drop to save another 17 quid a month, not a lot but as I have 100's of unwatched DVD's I do not see the point in keeping the movie channels for the couple a month I watch!
i dropped the movies recently, realised it was ages since i had recorded anything off them, as i have a
LOVEFiLM Rental (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=17) rental anyway.
but would not get rid of sky normal - £18 a month for a good lot of tv is a lot cheaper than even one night out (though thats another thing i would not give up)
having a spending freeze when you don't buy new games/clothes/books is a not bad idea every once in a while - just means you watch your old ones, finish off your old games, dig out things you had forgot about.
and using up everything in your freezer/store cupboards - why i keep buying fish fingers and peas i have no idea!! you get some weird meal combos but at least it gets rid of the old "just in case" stuff.
I keep around 3 years essential expenditure in savings.
That would be very nice, and I guess if I included the mortgage overpayments if I remortgaged then I am close to that, but in real terms right now I am at around 12 months.
I spoke to my loan provider who have consolidated my loans and credit cards on a 7.9% deal over 5 years so my credit outgoings have been slashed to £140/month.
http://news.bbc.co.uk/1/hi/business/7330083.stm
Glad you got a realistic rate and are actually using it for the right thing. I hate those stupid daytime TV debt consolidation ad's, so misleading and most have stupid fees on top of the high APR etc.
Glad to say I have nothing really on my credit card, I spend around 4-5k/month on it but its 95% expensed most months (last month and this are exceptions as paying for holiday).
mr starface
04-04-2008, 10:56
We are going to have to pick another mortgage when ours is up later this year so will have to see what deals are available.
Would like to cut back spending but with a wedding in August costing a fortune and then expensive honeymoon next year its just not going to happen.
Am hoping after that we can start to pay off some of the huge loan/credit card debts we have as they do sort of worry me but not to the extent that I stop doing things that cost cash as life is too short. We are both on a reasonable income and in secure jobs too.
pompeyfan
04-04-2008, 10:57
I have no savings, but stopped using credit cards a year ago and only really buy the bare minimum these days. I don't drink or smoke and the only real luxury items I allow myself are the odd DVD, computer game and Sky but haven't bought a computer since October, don't buy DVD's until they're in 2 for a tenner promotions or cheap boxsets and Sky Sports will be going straight after Pompey's last live game this season and will ditch movies at the same time.
having a spending freeze when you don't buy new games/clothes/books is a not bad idea every once in a while - just means you watch your old ones, finish off your old games, dig out things you had forgot about.
I only ever buy clothes in sales. Now I've discovered Mantaray and John Rocha do shirts in XXXL I've bought a few in the Debenhams sale.
It's the shoulders I have problems with, not the gut! :lol:
As for books, I discovered around 5 newish Stephen King ones in my local CoOp for 1.99 each. So I'm sorted for the year there.
neilalford
04-04-2008, 10:59
Feeling reasonably comfortable, so no plans to make any major changes at the moment, my job appears to be fairly secure at the moment (as much as any job is these days) and I can comfortably absorb increases in my monthly costs without too much trouble.
Got about a year left till my fixed rate mortgage comes to an end, so hoping things will have calmed down a little by then, also should have a reasonable LTV ratio (unless house prices really plummet) as currently at about 50% LTV, so that should help.
Don't seem to be spending that much on luxuries at the moment anyway though, only buying a DVD or two every month, not so long ago it was more a like a DVD or two per week (or possibly per day!)
douglasb
04-04-2008, 10:59
Maybe you could save money on food and get down to a size L? ;)
I only ever buy clothes in sales. Now I've discovered Mantaray and John Rocha do shirts in XXXL I've bought a few in the Debenhams sale.
It's the shoulders I have problems with, not the gut! :lol:
As for books, I discovered around 5 newish Stephen King ones in my local CoOp for 1.99 each. So I'm sorted for the year there.
Clothes etc are one place I have anadvantage as I spend a fair amount of time in the US so do most of my shopping there when on business so can save a fortune, same goes for buying books etc. But having said that I will be cutting back on them, I need some more T-Shirts etc for my holiday but that is about it then for at least the rest of the year!
MetalGearAl
04-04-2008, 11:02
If I don't spend it all, this disposable income will just get bored :)
Though I guess this year I'll be getting driving lessons and possibly think about buying a car, so 2008 might herald the introduction of one of life's black holes of money expenditure to me :(
Maybe you could save money on food and get down to a size L? ;)
Will that make my shoulders smaller? :lol:
Johnny Vodka
04-04-2008, 11:04
I always buy DVDs in sales. I don't think I'd ever buy clothes in sales having seen the stuff River Island and Next wheel out.
Clothes etc are one place I have anadvantage as I spend a fair amount of time in the US so do most of my shopping there when on business so can save a fortune, same goes for buying books etc. But having said that I will be cutting back on them, I need some more T-Shirts etc for my holiday but that is about it then for at least the rest of the year!
Yeah, you can save a fortune on clothes and books in the US - especially if someone else is paying for the ticket for you :thumbs:
Besides, the clothing you took with you and you don't pay VAT on books anyway :n0rty:
cjanderson
04-04-2008, 11:06
If don't spend it all, this disposable income will just get bored :)
how can you say that :eek:
Mine could win £1m on the premium bond. Or plunge downwards like a dixons share. or invest in exciting asian pacific unit trusts. it has more fun than i do :D
I always buy DVDs in sales. I don't think I'd ever buy clothes in sales having seen the stuff River Island and Next wheel out.
I don't buy in either for myself, not being a snob but they just don't fit me.
Next sale is good for kids stuff, if you can find something that doesn't have !!!NEXT!!! plastered all over it.
Oh, and believe it or not John Lewis is pretty good for kids clothing sales as well :thumbs:
The best thing I ever done to cut down on spending is take my own sandwiches to work. That and go for a cheap '2 for 1' pub meal (with the wife) before doing a supermarket shop (you buy less when you're full).
i dropped the movies recently, realised it was ages since i had recorded anything off them, as i have a
LOVEFiLM Rental (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=17) rental anyway.
but would not get rid of sky normal - £18 a month for a good lot of tv is a lot cheaper than even one night out (though thats another thing i would not give up)
Just dropped them, down to 21 quid a month (have all the entertainment packs) so that was painless (they didn't even try to offer them cheap to me to keep me on them). Today was my payment date too so I'll get a 17 quid refund making my next one just 4 quid!
I know its not a lot, but 18 quid a month for something I am not using seems stupid to pay it, so am happy to have this removed (will be curing it when there is something I want to watch though I am sure :D ).
DJBenson
04-04-2008, 11:12
Glad you got a realistic rate and are actually using it for the right thing. I hate those stupid daytime TV debt consolidation ad's, so misleading and most have stupid fees on top of the high APR etc.
The very reason I approached a reputable loan provider (Alliance & Leicester) of whom I had previous dealing with. I would not approach any of these companies that pray on people who have fallen into debt - they should be banned :mad:
One part of me is gutted to have had to extend the loan (it was due to close in January 09) but looking at my outgoings made me want to cry. I feel a helluva lot better today as I now have approximately 1/4 of my salary to save/spend/invest as I see fit.
cjanderson
04-04-2008, 11:13
its what martin lewis calls a Painfree saving - you don't notice its gone and your getting no real benefit from it anyway.
Like cancelling old DDs that your not using or that unused gym membership :suspect:.
He says do things like getting cheaper deals on gas/elec and mortgage and insurance as thats an easy win (no change in service you are geting, just cheaper). then cut back on the luxeries if you need to do more savings.
He says do things like getting cheaper deals on gas/elec and mortgage and insurance as thats an easy win (no change in service you are geting, just cheaper). then cut back on the luxeries if you need to do more savings.
Need to check USwitch.com (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=85) etc for possible gas and elec savings, but not sure I'll save in insurance as car is pretty good and house is unbeatable (but always check) because I travel so much most house insurance policies will not cover you if you spend more than 30 days away in a year! Mine is just 30 days at a time which is good for me. I always have kept on top of those things as its easy and really doesn't cost anything but has a potential to save a decent amount.
I have no car loan (paid off last year in anticipation of needing to re-mortgage - seems it was a good move!) and no CC debts or other loans so its jst down to saving in other ways now.
douglasb
04-04-2008, 11:28
Time, perhaps, for a new DVDF money-saving tips and hints thread?
i've been making ~£100 a month on eBay (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=44) buying stuff and selling some stuff on at a profit - it's pretty easy money for me but involves a little work, but I can make nearly £15 profit just by packaging something up with some instructions and sending it off - it's not bad. I'll soon get tired / run out or be unable to obtain stock, but so far i have enough stock and don't mind for it to continue (p.s. It's nothing dodgy). Might look into what other stuff I can sell to make a profit. Looking for other easy ways to increase my monthly income - maybe I should start a thread!
eBay (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=44) will be getting some of my stuff put on it soon, along with the classifieds here for DVD's I want to get rid of etc.
I've been on a training wage since uni, so have eaten into savings rather than saved anything significant. Wages have just shot up significantly, so looking at investment/savings options at the moment, and trying to re-budget appropriate to the market conditions. Currently rent, hence am slightly concerned about whats going on in the housing market with regards to available housing stock etc.
cjanderson
04-04-2008, 11:39
eBay (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=44) will be getting some of my stuff put on it soon, along with the classifieds here for DVD's I want to get rid of etc.
better prices on
Play.com (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=2)
I have about £500 there now, as it costs 5% to take out i may see it as free money for a free tv once i know about job. :suspect:
2nd jobs are good ideas for some - i do focus groups (pay £50 for 2 hours discussion ) and mystery shopping pays for meals out with mates/free cinema trips, so doesn;t make money but does save it.
MetalGearAl
04-04-2008, 11:40
how can you say that :eek:
Mine could win £1m on the premium bond. Or plunge downwards like a dixons share. or invest in exciting asian pacific unit trusts. it has more fun than i do :D
That's money already invested and being made use of though, I mean the other stuff that is waiting to be spent :)
oh - I also went through some bank statements recently - discovered that 2CO were charging me twice a month for my Newsgroup Subscription (yes it is an essential) so I queried it and it looked like I had accidently signed up to two accounts, one which remained opened since June 2006. 1 email off to Astraweb and they noticed the inactivity on the account since the duplicate account and refunded me $205 - so it helps to frequently check those bank accounts to ensure everything is hunky dory!
As for savings - 6 - 9 months - wow! I don't have that - I think I have about 3 months is all I have saved. Once the other half moves in, i'll know what position I will be in then with regards with how much to save every month etc...at the moment, I have everything in a current account - so need to transfer some of that into the ISA that I have - should have really put some in before April 1st. doh!
cjanderson
04-04-2008, 11:43
you can do it today/Sat - 5th April is the deadline (would have to be with your own bank at this late stage i imagine - then transfer later on)
you can do it today/Sat - 5th April is the deadline (would have to be with your own bank at this late stage i imagine - then transfer later on)
Need to setup my payment for next years to leave my bank on Sunday (bank with cahoot and ISA with Abbey so will be next day hopefully for payment in). 3600 more in tax free savings will be a nice boost (along with the interest it will gain this tax year).
you can do it today/Sat - 5th April is the deadline (would have to be with your own bank at this late stage i imagine - then transfer later on)
Can I call them - i'm in Germany at the minute. Probably not much point, the other half has an ISA already plus with mine that should be more than we can save in the next year anyway.
I'm just too lazy.
mbuckhurst
04-04-2008, 11:50
I cut back my spending 6+ years ago when the company I work for went bust (4 days after joining them too), from that point onwards I decided to put all my spare cash into paying off the mortgage. Roll forward 6 years still working for the same company, I have no mortgage and a house big enough to cover all eventualities and absolutely no cash flow worries whatsoever. It did mean that the garden got turned into an allotment, and we did start to look like the good life and Marmite sandwiches can become quite boring, but for a couple of months I paired my cost of living to practically nothing.
One of the big advantages of pouring £2k into mortgage overpayments (that was the limit for our mortgage) is that you get used to not having the money, so now there's no mortgage I have £2k a month available that I no longer think about spending, this was a massive boon when my son arrived, since the other half could give up work without worrying about the financial side. Also, with all the spare cash generated with pairing our expenditure, we've managed to accumulate we've got over 5 years worth of cost of living in savings.
Without debt I find today I can afford to deal with any eventuality and can buy anything I want at anytime, but there's no longer a desire to buy much because I got used to questioning the need before the want.
mike
I am... but that's only becasue I blew £1,000 while drunk at the new Hustler strip club in Croydon last week! :cry:
I wish I was joking! :(
Me + Drunk + Strippers + Bank Card = Bad Idea! :brickwall
Psycho :nuts:
Just Passing
04-04-2008, 11:55
I am... but that's only becasue I blew £1,000 while drunk at the new Hustler strip club in Croydon last week! :cry:
I wish I was joking! :(
Me + Drunk + Strippers + Bank Card = Bad Idea! :brickwall
Psycho :nuts:
:lol:
I am... but that's only becasue I blew £1,000 while drunk at the new Hustler strip club in Croydon last week! :cry:
I wish I was joking! :(
Me + Drunk + Strippers + Bank Card = Bad Idea! :brickwall
Psycho :nuts:
next time you have that kind of idea, call me, i'll talk you out of it, wire me £500 and your still £500 up. :thumbs:
NicolaUK
04-04-2008, 12:01
I am... but that's only becasue I blew £1,000 while drunk at the new Hustler strip club in Croydon last week! :cry:
I wish I was joking! :(
Me + Drunk + Strippers + Bank Card = Bad Idea! :brickwall
Psycho :nuts:
:eek: Nutter :lol:
next time you have that kind of idea, call me, i'll talk you out of it, wire me £500 and your still £500 up. :thumbs:
The thing was that I've been thinking about buying a PS3 but couldn't afford it. I could have bought 4! :cry:
Psycho :nuts:
Have started cutting back now, not that I have much spare income at the moment. Now looking at the other half going back to work full time, it will be more childcare but hopefully we'll have a bit more to play with. Just done the whole Gas/Electric thing, but getting her to stop spending so much on people's birthdays etc is a struggle (apparently I'm trying to control her, no sweetheart I'm trying to keep a roof over our heads)
Johnny Vodka
04-04-2008, 12:13
I am... but that's only becasue I blew £1,000 while drunk at the new Hustler strip club in Croydon last week! :cry:
I wish I was joking! :(
Me + Drunk + Strippers + Bank Card = Bad Idea! :brickwall
Psycho :nuts:
For that kinda money, I would have expected a good lot of charlie too.
ive gone onto PAYG since contract ended so saves quite a bit as wasnt using it enough.
sold lots on Amazon UK (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=8) in the last year and generally cut back on dvd's and games, buying fewer renting dvd's instead of buying films i watch once and waiting for sales.
also keeping better eye on my tube journeys to claim for any delays as pay too much for travel and starting to annoy me! not many so far but looking back over the past few years i reakon i could of had up to £50 at least which i just didnt bother about.
Mattie F
04-04-2008, 12:23
We've tightened our belts big time, mainly because I took a permanent job close to home which halved my income (I was contracting before). Wife is also moving from locumming to salaried so it will be very tight for a while.
Gas bill has been getting ridiculous but I'm in the process of "u-switching" which will apparently save us £880 per year.
Mortgage is pretty big (big house in fairness) but thankfully at 4.83% fixed for another 3 years. That's interest only mind - paying it off will have to wait.
Then there are school fees, council tax etc. and to top it all I find out in the budget that my car tax will be increasing by £90p.a. in 2010.
So, it's sandwiches to work and generally spending as little as possible - especially on those wastefull things that can add up over a month.
It's surprising how much you can save when you try and if you go to the supermarket in the right frame of mind. For example, you can easily spend £1 on a single packet of posh hand-fried crisps (as I've done in the past) but I managed to get 48 packets of Walkers crisps (2 x 24 multipacks) in Tesco for £3.08! No pain there as they're not cheapie/horrible crisps and they'll last for weeks. I'll even admit to buying a 2ltr bottle of cider in Tesco for £1.67 and it wasn't too bad - again you can easily spend more than that one one small bottle of real ale.
I guess the worry is that there are a number of things that we need to do to the house which will cost a few grand - new heating system etc - but we haven't got a lot of spare cash about to get them done. It's a bit of a catch 22 in some ways as if we did put in a more efficient heating system then the monthly gas bills would be a lot lower.
I don't know - I reckon I may have to go back to contracting at some point if we want to get the hefty mortgage paid off.
Hmm, 3 months seems way too low to me in the current climate, I was thinking more 6-9 months minimum, and I know that is where I aim as an absolute minimum!
I have no savings what so ever. My wife and I both earn a reasonble amount each month, but by the time we've paid the mortgage and bills etc, there is nothing left at all. Luckily, we don't have any loans or massive CC bills (our limits are set at £400), but we don't follow fashion or go out a lot, but my wife is doing baby sitting to give us extra cash for when we go away to Devon next week (only a caravan,not a hotel). If the brown stuff hit the fan, I could cut down on pension payments (currently have one work one and one personal one), various insurances etc, but I don't know how other people manage to put so much away in savings.
We have just switched our gas/elec to save some money, but it only wiorks out at about £180 for the year. Was looking at one of the First Direct mortgages, but prevaricated for too long and missed out :-(
I've just fixed my mortgage for 5 years at a lower rate than previously paying :nuts:
Have enough savings to keep me going for a good few months (incl mortgage payments) and my Missus brings in a few grand per year from her business.
Only thing we have yet to decide on is the holiday this year. We may not go anywhere exotic and spend the dosh on new furniture/doing up the house.
stillill
04-04-2008, 12:57
Am cutting back on getting a mortgage, no point throwing the money down the drain. Renting instead (rent costs less compared to the interest I'd pay) as the growth in asset value is decreasing it seems sensible.
Have cut down on the amount of food I buy for the house. Instead my employer provides fruit in the morning (brekkie) and GBP6 for lunch, so I can get a massive salad that keeps me going all day for that. Only buy a few essentials for weekends.
Been buying jeans etc on eBay. Generally not boozing as much. Have more money in the bank, but that's going to get stolen off me by Gordon at some point I shouldn't wonder. We'll join the Euro so they can devalue the pound.
Mortgage is pretty big (big house in fairness) but thankfully at 4.83% fixed for another 3 years. That's interest only mind - paying it off will have to wait.
This is the madness we are seeing thanks to Labour and Gordon Brown. (Not an dig at Mattie - sounds like lots of spinning plates, understandable. When do you foresee being in a position to pay the capital?)
For that kinda money, I would have expected a good lot of charlie too.
He wasn't dancing that night... :D
Psycho :nuts:
pyrogena
04-04-2008, 13:26
I'm cutting back in a major way as come October I'm going to be "unemployed" for 5 years. My degree makes it practically impossible to get a part-time job during term time and holidays are filled with mandatory non-paying work placements. The lovely (!) government will throw some money my way in a mix of grants and loans as I'm classed as independent and bloody poor! Going to be working like crazy this summer to build up savings.
I think even if I was working I'd be cutting back and getting rid of non-essentials, all looks a bit shaky out there at the moment. Perhaps now is the best time to be going back to university! Either way I plan on learning from the experience, money wise, and learning to manage funds better. When there isn't much, it really makes you think.
I have no savings what so ever. My wife and I both earn a reasonble amount each month, but by the time we've paid the mortgage and bills etc, there is nothing left at all.
Was looking at one of the First Direct mortgages, but prevaricated for too long and missed out :-(
Could not cope with that level ouf outgoings to income personally, I'd be too worried about what would happen if lost a job or had an emergency need for something for house/car etc.
As for those FD mortgages, I was all set for applying for one too, really ****** off that they removed them!
Mattie F
04-04-2008, 14:34
This is the madness we are seeing thanks to Labour and Gordon Brown. (Not an dig at Mattie - sounds like lots of spinning plates, understandable. When do you foresee being in a position to pay the capital?)
Well the plan was to pay off some big chunks whilst I was contracting but then the offer of a good permanent role at a place 10 minutes from home came up and I decided to give it a go.
It’s that balance between having more time with the family and earning 50% less – most contracts would mean spending 2+ hours a day commuting instead of the 20 mins I spend now.
Also, although contracting brings in a lot more money you can end up out of contract for periods (in 2006 I went 10 weeks without a contract over the summer). At least with the permanent role the mortgage interest always gets paid.
The other factor in repaying the mortgage is my wife’s job. She was hoping to get a (GP) partnership but they are becoming thin on the ground as existing partners are tending to not take on a new partner when one retires these days as they’d rather share the extra cash out between themselves! However, she’s at a nice little village practice at the moment and the one partner (guess that makes him a sole trader) is due to retire in 5 or 6 years time and, from what I can gather, he’ll happily hand the reigns over to her (she practically runs the place anyway) so at that point we should see her income go up substantially.
To be honest I have a bit of a blasé approach to mortgages. We owned our last place for 8 years and I only did that on an interest only basis, simply paying back the original loan out of the profits when we moved. I do appreciate, however, that there is an element of risk in that approach and that the loan has to be repaid at some point if you are going to stay in that house after you stop working.
One things for sure, if we are unable to secure a similar or lower mortgage deal at the end of the fixed rate term then I’ll probably be forced back down the contracting route, if I haven’t taken that route already due to the lure of the extra money, the absence of office politics and the avoidance of the performance management palaver.
pyrogena
04-04-2008, 14:35
Here's a question - I will have the ability to get an interest only mortgage (lovely First Direct), which will be cheaper on monthly outgoings than renting. Would you take the plunge and buy now or wait another 12 months to see what happens with the market?
I'm not concerned about only having an interest only mortgage, as compared to renting it's the same(i.e. rent you not paying off any capital!) - but there's the chance of having *some* equity at the end of it all. If I was to buy my long term goal would be to keep it at the end of 5 years and then rent it out.
Hmm, not sure I would do that at the moment because of possible negative equilty, but as you must already have a decent deposit to get a mortgage at the moment you may avoid that. You should always have a plan to pay off the capital though!
If you buy near the uni and can get a good deal you may be able to rent out rooms (get a lodger) that may help too?
BeelzebubUK
04-04-2008, 15:23
errr I'm intending to buy a new (2nd hand) car and a new plasma TV in the next couple of months. Single and have a large mortgage but work (IT contracting) is good with a long term contract at the moment.....but obviously thats never certain.
For the last few months I've been overpaying my mortgage so together with the payment holidays and savings I could probably go without work for about 4 months. I probably will hold off getting the garden landscaped this year though.
hookbeak
04-04-2008, 15:28
I have no savings what so ever. My wife and I both earn a reasonble amount each month, but by the time we've paid the mortgage and bills etc, there is nothing left at all.
Yup, us too. In fact pretty much everyone i know. I'm always surprised when threads like this come up just how much some people manage to put away each month - i guess they just earn a lot more than us (and maybe don't have 2 kids which cost a fortune!)
*If* we didn't have the kids we'd be a lot better off - childcare alone is 450 quid a month. I reckon my kids easily cost me £600 a month. Worth it though :)
Mr Flibble
04-04-2008, 15:35
I'm the same as hookbeak and JimLin - I work full time, the wife part-time but we're lucky as Mrs Flibs mum takes care of my 18 month old lad whilst she is at work, childcare costs an absolute bomb.
A company car helps as well, we do have savings, but not to the extent of people on here, and we don't live flash lifestyles either to be honest, we go on holiday rarely, and at weekends don't go out either - a saturday night tends to consist of staying in to watch a DVD or telly, and cooking at home rather than going out to restaurants etc. I'm happy enough though, but wonder how some people, especially first time buyers, ever get on the ladder - we were lucky and bought before the housing boom.
no, I've realised how hard it must be to have dependents and own a house etc. but as a single renter in a shared house on an above income I still end up with plenty of play money, though I am trying to save more rather than waste it on my CD addiction.
I do feel sorry for those with families and responsibilities who are going to be hit when the **** hits the fan as it surely will but it's clear that so many people spend above their needs and have a NOW NOW NOW mentality.
BeelzebubUK
04-04-2008, 15:53
but it's clear that so many people spend above their needs and have a NOW NOW NOW mentality.
I used to do that and I'm thankful at the time I could scrape enough together to buy my first house. I remortgaged it after 6 months and paid off every other debt and since then (about 6-7 years now) have not had credit for anything and don't intend to.
It still doesn't deter me from being buried with all my worldly goods and dozens of slaves when I die though :thumbs::lol:
Mr Flibble
04-04-2008, 15:56
I very much have a 'do I need it or do I want it' mentallity these days though! The days of getting stuff on impulse from the bargain forum have long gone!!
pyrogena
04-04-2008, 16:59
Hmm, not sure I would do that at the moment because of possible negative equilty, but as you must already have a decent deposit to get a mortgage at the moment you may avoid that. You should always have a plan to pay off the capital though!
If you buy near the uni and can get a good deal you may be able to rent out rooms (get a lodger) that may help too?
Unfortunately I'm an unsociable git when it comes to renting out rooms - done it in the past and I hate it. :D
Plus the only thing I could afford would be a 1 bedroom flat, so that knocks renting out the window anyway!
I plan to sit down with a financial adviser type chappy when I get home and go over all my options. Certainly negative equity is something I'm wary of, but my thinking right now is that I know 100% I would be owning the property for at least 5 years so even if there's a crash, it should start to turn back around within that time frame. Maybe...:lol:
I don't plan to change my spending habits. I'm normally quite on top of my finances so apart from doing the norm, nothing will change for me.
I think the 70% figures are taken from a small market sector and I do not think this gives a good representation of the country as a whole. We have a broad cross section of pppl here and I would be far more inclined to believe the results of this poll than any other one
Alisonsvilla
04-04-2008, 23:45
Yup, us too. In fact pretty much everyone i know. I'm always surprised when threads like this come up just how much some people manage to put away each month - i guess they just earn a lot more than us (and maybe don't have 2 kids which cost a fortune!)
*If* we didn't have the kids we'd be a lot better off - childcare alone is 450 quid a month. I reckon my kids easily cost me £600 a month. Worth it though :)
don't you get working family credit-my son only pays a small amount for quite a lot of childcare.
Oh yes-and for me he pays nothing :lol:
SheepDip
05-04-2008, 10:16
For various personal to me reasons, the current economic situation's meant some things we thought we'd be able to do, we won't (Things like savings scheme tied up to shares - erm - won't be cashing THAT in just now :nuts: ).
For us, we've been able to have a few nice holidays over the last few years, it won't be happening this year, but no big deal. If push comes to shove, we could still I guess afford say a week in a caravan at chavsville in Scarborough ;)
Bit worrying as I've put off some house things till this year - but can't be helped. The money isn't there -so we won't spend it.
For a while I've had the attitude that you only live once, as long as it won't put you out on the street or in bad debt - you might as well spend and enjoy yourselves. I also work with accounts and am not totally stupid when it comes to finances :lol: so yes - we are deffo cutting back.
what are the current mortgage rates in the UK? i've just refixed half my mortgage at 8.69%, standard variable is about 9.09% :eek:
what are the current mortgage rates in the UK? i've just refixed half my mortgage at 8.69%, standard variable is about 9.09% :eek:
What? They are around 6% here and long term fixes can be had below that!
Alisonsvilla
05-04-2008, 13:41
For various personal to me reasons, the current economic situation's meant some things we thought we'd be able to do, we won't (Things like savings scheme tied up to shares - erm - won't be cashing THAT in just now :nuts: ).
For us, we've been able to have a few nice holidays over the last few years, it won't be happening this year, but no big deal. If push comes to shove, we could still I guess afford say a week in a caravan at chavsville in Scarborough ;)
Bit worrying as I've put off some house things till this year - but can't be helped. The money isn't there -so we won't spend it.
For a while I've had the attitude that you only live once, as long as it won't put you out on the street or in bad debt - you might as well spend and enjoy yourselves. I also work with accounts and am not totally stupid when it comes to finances :lol: so yes - we are deffo cutting back.
by that you must mean reighton Sands:lol:
If you are serious-I know a chap who rents one-it's in first class order (it's for his disabled son) and I have stayed there the last two easter's running.
What? They are around 6% here and long term fixes can be had below that!
so stop your whinging then the lot of ya ;)
we've got inflation problems here (just hit 4% - that's what you get for having a labor <SUP>(sic)</SUP> government), so base rates are being jacked at present.
still about £140K worth of mortgage as well :(, but i do get paid ****loads :thumbs:
hookbeak
05-04-2008, 16:46
don't you get working family credit-my son only pays a small amount for quite a lot of childcare.
Oh yes-and for me he pays nothing :lol:
sure do ! 2 pence a week. Seriously.
http://news.bbc.co.uk/1/hi/business/7347298.stm
Seems that a fair number of people are cutting back! Only food sector saw any rise in sales (which seemed to really help Tesco (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=79))
AdminSpod
15-04-2008, 08:49
Well, I'm on the Barclays Openplan mortgage which is a tracker based offset mortgage. As long as interest rates stay down there's no problem and all of my pay and savings effectively get mortgage rate interest.
I've already cut back to try to get the mortgage paid off sooner. Our original 18 years mortgage started late 2003 should be reduced to about 10.5 years by overpaying and offset, assuming base rate stays below 6%.
I just applied for an offset too (although offsets savigs only not current account :( ), but my original 25 year mortgage from 3 years ago I hope to pay off in another 4 years or less if I can (well at least have the offset there for it). The rates are not too high so its a good time to be overpaying and building up equity.
Very interesting thread.
I have not made any decision to cut back spending, will probably continue as we are. Would like to get to get some more saving under my belt for a possible move later in the year. We moved into the current place around Christmas time and the whole place needed gutting, so that took up a fair wedge of cash. We are fortunate that there is no mortgage on the place so have been pumping our previous rental costs into a savings account.
DarthPearce
15-04-2008, 10:32
I remortgaged about 9 months ago so got a pretty decent fixed rate 3 year deal (sort of wish I'd gone for 5 years now though!) I'm not planning to make any spending cuts but I have been living well within my means. My biggest increase in expenditure seems to be fuel (especially diesel) at the moment whereas it's mortgage for lots of you but I think that's because I got on the property ladder at the right time.
Mr Flibble
15-04-2008, 10:48
Without a doubt our biggest expenditure is on fuel for the car! Although a friend of the wifes was telling her how the price of liquid gas has shot up through the roof recently as well.
You hae to start looking at things thinking 'what other luxuries can i cut back on' but to be fair, we don't have that many!
NicolaUK
15-04-2008, 11:04
Although a friend of the wifes was telling her how the price of liquid gas has shot up through the roof recently as well.
We're on LPG and it is hideously expensive - we've been here for 5 years and originally it was almost double the price of mains gas but now closer to 3x.
We've cut our gas bill by using an oil filled rad to supplement the central heating which doesn't need to be on for that long.
Other than that I don't think our spending cutbacks have been planned as such, things like sandwiches for work we've always done as we don't do salt and pretty much anything pre-packed is rammed with it. There's no way I'm giving up holidays but again we use miles so tend to get a freebie after time. We used to buy a lot of DVDs but only buy must haves now, no double dipping in the case of HD/BD - it's quite funny to see people buying up tons in the fire sales, something I'd have done maybe 5 years ago but have no interest now (exception being Heroes which was a must have). Clothes we tend to buy pretty much everything in US, I have a clothing background and knowing what things cost put me off spending here - I do have a soft spot for Art shoes though :lol:
DVDWotcha
15-04-2008, 16:22
I always try and keep a lid on unnecessary spending but to be honest those savings pale into insignificance beside the money spent on doing up my house. One budget overrun can wipe out any savings made.
I was quite pleased to haggle 500 quid off my double glazing installation but the following week got a bill for 1200 quid overrun on exterior renovation. :cry:
carpettile
15-04-2008, 16:23
i am going to start making cutbacks in my spending, increase in fuel costs alone are starting to hit my pocket, those of you that i normally buy from on the forums will have noticed that im not buying anywhere near as much as i used to, so a bit of belt tightening is in order for me.
ive cut my mobile off and scaled back my tv package, But it was a false economy cutting my phone off as its surprising how much you actually "need" to use it so now im getting caned on payg but at least i have no big bills coming in.
Ive drastically cut back on smoking and a pack of 20 lasts me over a week and i buy beers to drink inside if i fancy a swift one.
I also try and withstand the temptation to buy fast foot when out and about and instead try and add the saved money to proper food shopping.
Im trying to save on gas and electric as for a 3 bed house its over £150 a month which in my eyes is to much.
Although my cutting back has some bad side effects like my missus smoking more and spending more.! god weve had a few rows. Save more and she spends more.
Cheeky swinehund
neilalford
16-04-2008, 08:25
Im trying to save on gas and electric as for a 3 bed house its over £150 a month which in my eyes is to much.
:eek:
I pay about £50 for both for a 3 bed house, and I'm expecting to get a refund later in the year due to overpaying (plus £80 for paying for both by DD), so £150 sounds way too high!
I pay around 60 quid a month for both in my 3 bed. 150 does sound a lot!
Mr Flibble
16-04-2008, 09:07
we're moving to a 4 bedroom house, new build, so hopefully it'll be less than what we pay at the moment, as the house should be insulated a lot better than our current house, built in 1850! We just have storage heaters at the minute, which eat money, but don't seem to chuck out much heat!
Helllo gas central heating :D
my gas is around £30 a week just over i reckon and thats with hot water on all day and heating on for a few hours in the morning and then maybe 5 hours in the evening.
we do how ever cook by gas, and electric is at least £10 a week
Why is your hot water on all day? If that is the case you could probably save loads getting a combi boiler!
just paid a £100 electric bill (3 months) and awaiting my winter gas bill, which I reckon will be around £150 - any less then that will be good. So combined that will be ~£80 a month for gas + electric.
This is me living in a 3 bedroom house on my own. Dread to think what it will be like when the other half moves in, in August.
Just bought a 22" LCD (thanks bargain forums) for my bedroom for £229, and am currently pricing bricks, in order to build a wall in my front garden in the coming weeks as I intend to tidy up the patch of feeble grass and shoddy fence that is there - which will be another £200 - £300 probably.
Add to that a mortgage renewal, which will probably have a setup fee, and then my rates bill of £490 has just arrived.
In the last week though my ebay sales have really increased, giving me some extra welcome income, however stocks are dwindling and I can't seem to find replacements. Should be £500 profit there in current stock though.
On the whole though - I am only spending money on stuff that I have always planned to spend money on anyway.
Why is your hot water on all day? If that is the case you could probably save loads getting a combi boiler!
hot waters on all day as people work part time in the house and bath and different hours.
Although a plumber told me it doesnt cost that much more anyway as he explained it like this.
If youve got a kettle full up it takes say 4 mins to boil, if you then 30 minutes later boil it again it will take like 30 secoonds as its still hot. If you get my drift?
Just looking at a new contract phone now.
hmm got turned down by 02!!LOL wonder why unless its to soon after cancelling my old phone, doubt it some how. Never had problems before, maybe they really have tightening up credit now! PANTS
Not sure why they would do that, mobile companies are usually the happy to give credit to anyone!
As for your boiler, seems a little weird to me though, but as mine stays hot for around 2 days off of 1 hour of heating I guess it may be true!
Quick bump for this. Anyone changed based on the rising costs of various things? My spending has gone up but involuntarily (e.g. car and house repairds) but other spending has gone down a little where I can to compensate.
Doing my best to keep down the discretionary spending & get rid totally of my O/D and Credit cards (although in total this is not a particularly large amount and I could pay it off now through savings).
douglasb
13-05-2008, 13:42
Cancelled a couple of magazine subs. Taking my lunch to work instead of buying stuff in town. Really isn't anything else to cut back on.
no. we're spending less because i dont drink now but thats it. i suppose its different for us because we dont really use our car so i havent really noticed anything changing bill wise.
Cancelled a couple of magazine subs. Taking my lunch to work instead of buying stuff in town. Really isn't anything else to cut back on.
Thats one thing I'm not doing a good job of, reducing that expenditure...due to being out a lot/temptations of summer.
Should probably cut out the coffee now the weather is hotter but I'll probably just end up buying coke instead.
Thinking of setting a cash budget per week to spend on these things and getting that out every 7th day or similar.
snow-munki
13-05-2008, 16:06
nope spending as per normal...... acutally think i've started spending more recently, more treats for myself and the g/f :)
Shold hopefully get a decent payrise this year so will probably go up.
Just Passing
13-05-2008, 17:37
Nope, seem to be spending more and more - it's the cost of living that is forcing the involuntary spending increase though. My electric & gas are both up. My grocery bills are up. My car insurance has gone through the roof (because of an unsettled non fault accident!) Diesel costs have got out of control. The list goes on...
Phoenixetta
13-05-2008, 20:01
I have almost no day to day expenditure. My lunch costs £1.05 a day, can't make it myself for that! I don't have any utility bills because they're all included with my rent so I spend about £20 a week after my rent on food & entertainment, plus £5 a week in petrol.
We can't make any day to day spending cutbacks as we don't spend anything as it is. Instead, my wife is going to work 4 days a week rather than 3.
Masanevre
13-05-2008, 20:16
I've managed out goings of £130 rent at home and the mobile bill of £35. I'm no longer having to pay fro travel to work and bring pack lunches to work. I'm very lucky and probably not grateful enough.
So looking at the poll results people seem to have money to burn! more people are carry on at same rate and maybe think about upping there spending? Fair play they must be doing well!
I'm trying to make cut backs as only one income at the moment and this month we are off on holiday and I've ordered some front pads (180 notes) and new front tyres (250 notes) so it's been a tight one.
Keep on putting the fuel up Gordo and kill my pockets a bit more.
been aiming to get my work lunch in at below £2 per day - I know everyone says that making your own sandwiches is cheaper - but i'm a lazy sod, and things like bread and ham would end up going off when i get lazy and i'd waste money as i'd just end up buying lunch in work at £4 - £5 a go sooooo...............
I have been popping into tescos on the way home from work and been picking up some sandwiches in there for around £1.20, or a pasta / tuna salad thingy for around the same price. These then go in my fridge for next days lunch.
I've been buying their bars of chocolate in packs of 5 for 69p. Then 24 packs of walkers crisps are around £1.30, and also bring in a yoghurt which is around 40p.
Not too bad, and usually more enjoyable than the muck they serve in our place.
Transport - I have to get two buses to work - i've become anal (ooeerrrr) about buying bus journeys on the multipass card, as you save 40p per journey by buying your journey's in 10's. So in a week i save £8 by using the pass over paying for individual journeys.
Too scared to check my bank balance!
So looking at the poll results people seem to have money to burn! more people are carry on at same rate and maybe think about upping there spending? Fair play they must be doing well!
But read the poll.
I have already made spending cutbacks and will continue keep them at the same level
and
I plan on making (more) cutbacks to my spending
Those added together make up over 60%, only ~40% have said they have not already made cutbacks and intend to stay as is or increase.
cjanderson
14-05-2008, 07:39
been aiming to get my work lunch in at below £2 per day - I know everyone says that making your own sandwiches is cheaper - but i'm a lazy sod, and things like bread and ham would end up going off when i get lazy and i'd waste money as i'd just end up buying lunch in work at £4 - £5 a go sooooo...............
I'm the same, too lazy or if i do make them in advance, they are gone by 11am :suspect:
But i now go and buy the bread and a deli dip (tescos and morrisons do this, assume most supermakets do, i have the tuna mayo version) - that lasts for 2-3 days in the fridge so makes 3 lots of sarnies and the fresh baguette is only 30p or something.
Noting down for a few months what you spend is usually revealing, each thing may not cost too much but if you buy coffee every day thats £2 or £500 a year. Which may or may not be worth it to you, may be the highlight of your day or just something you do without thinking and it would be more of a treat if you did it once a week.
I need to stop buying books. not sure anyone needs 20 :eek: that i bought last month (even if they all cost a max of £2 and i got 5 for £1 one day)
following on from a bargain forum thread, need to change elec suppliers again, Atlantic have gone from being the cheapest for the last 5 years to suddenly 20% rise. So time to change for me :D
splobber
14-05-2008, 07:51
You've got to pick a pocket or two.
New bump for this, given current conditions I am moving more into the heavier cutbacks, which given I have to spend money on repairing my fence (still! - although given todays gales here it may be soon) is proving difficult.
I am expecing interest rates to go up next month because for some reason people seem to be spending more despite the increased costs of fuel and food etc!
So short of selling my car and trading for something smaller (not going to happen as its value has taken too much of a hit due to the increased fuel and tax costs) I am not sure where else I can save money! My income tax has gone up substantially this year but my salary has not, government approved mileage is barely covering actual cost per mile of just the fuel on my car so I am making losses there (just spent around 500 on maintanence this month and have insurance, MOT etc very soon) and my household bills are going up not down.
So I ask where are people getting all this money to push up consumer spending? Either people are getting the pay rises I am not or something. From the reports it was not increased spending on credit.
splobber
22-06-2008, 09:07
Grim. :(
How's the second home purchase in Florida coming along btw?
:nuts:
Still on track for next <s>year</s> decade if the world sorts itself out and I get a massive pay rise :nuts: So pretty much no chance right now other than the option of selling up and just moving out there (don't want to do that). At the moment I am not convinced that house prices either side of the pond have dropped to their bottom yet anyway :D
When this thread first started I voted "No, I will continue spending the same or possibly increase my spending"
However, with the rising cost of food and fuel (especially fuel for me), I would now vote "I plan on making (more) cutbacks to my spending".
Just Passing
22-06-2008, 09:54
I am expecing interest rates to go up next month because for some reason people seem to be spending more despite the increased costs of fuel and food etc!
Isn't it pretty much a case of everything is costing more so spending has increased as a result? Catch 22? I'm not sure people are buying more, just spending more on the things they usually buy. I know a few people who work in retail and they all say that it is "dead" and that was certainly my perception in the shops on the weekend too.
We all know the inflation figures are fudged to hell. If the Government claim 3.3% I'd bet that the REAL inflation figure to you & I (excluding the fudged items like new TVs, Smoothies, Digital media etc) is about 8 or 9 %.
One important consideration too is that the increases in fuel, whether it be transport, gas or electricity increase the cost of everything we do because industry have to pay those increases too. I think there are a lot of price rises in the system that are still to filter through yet.
I voted NO to cutbacks too and, still not really thinking about doing anything different.
Need to start thinking about the house extension soon so may have to stop buying a few things.
I managed to get my mortgage sorted out at 5.29% for the next 5 years recently so that is something in my favour. We still run 2 cars (although I only drive mine once a week at most :nuts: ) but have noticed the fuel prices now in the Missus' people carrier.
I suppose the other thing is that I have been so busy this year at work I have hardly spent loads but we are unlikely to have a big overseas holiday this year as it's too late to book and flights to the Far East seem a bit of a rip off at the moment.
So petrol, food and electricity have gone up. I do not drive so have not noticed that directly. Now I buy food over the internet it is cheaper than before as I buy less rubbish which seems good at the time. Since giving up smokes at the start of the year that has helped on the wallet.
IIRC, reports yesterday said spending was up 3% ?? I guess that was down to the hot weather, people spending on BBQ, outdoor stuff and camping stuff.
Watched something the other day which seemed to indicate more people selling old tat in their houses on ebay and carboots. Then using this money to buy other tat. Or perhaps everyone just sprouted kids to get tax-credits and spent that instead?
I thought interest rates would only go up if it was credit that was spent. If its "old" money, as you indicate, then this should have no affect on interest rates?
Mr Silly
22-06-2008, 10:00
When this thread first started I voted "No, I will continue spending the same or possibly increase my spending"
However, with the rising cost of food and fuel (especially fuel for me), I would now vote "I plan on making (more) cutbacks to my spending".Same here :(
DVDWotcha
22-06-2008, 10:04
I am expecing interest rates to go up next month because for some reason people seem to be spending more despite the increased costs of fuel and food etc!
The main inflationary pressure at the moment is from food and fuel. But a lot of the food price rises are likely transport costs so fuel again. We've really got to look at sourcing locally produced foods.
I was shopping yesterday and I just refuse to buy Braeburn apples from New Zealand. Just one of many examples.
unrealnils
22-06-2008, 11:34
I dont have a mortage and rent is cheap in sheffield so i dont need to make spending cutbacks really , but then i should do if i ever want my own place ........
andybhoy
22-06-2008, 12:35
I started cutting back last september, but have been unable ot build my savings due to somne big bills. Am cutting back more - and will have to cut back by about 40% if my job goes in the next few months (but will be ok, as savings, redundancy, JSA and poss mortgage payment protection) means I could have a year to find a job.
Now, I know a lot of people are hitting reply already to tell me off - no, I have no intention of taking my time getting a new job - and i'll take something unsuitable and not paid well enough, as soon as I can get something. But just KNOWING I can live for a year, helps a lot. When this all kicke doff, it looked like I'd have less than 2 or 3 months.
cjanderson
22-06-2008, 13:36
Now, I know a lot of people are hitting reply already to tell me off - no, I have no intention of taking my time getting a new job - and i'll take something unsuitable and not paid well enough, as soon as I can get something. But just KNOWING I can live for a year, helps a lot. When this all kicke doff, it looked like I'd have less than 2 or 3 months.
I think your being very sensible. we've had 3-4 months at my work when not knowing who is keeping their jobs or not. Knowing that if it happens, you will be okay for a while with savings etc, makes the whole process a lot less stressful as you don't have the money side to worry about so much. And its happening at more and more companies and i can't see it ending anytime soon. having an emergency fund is just common sense if you can manage it.
and hopefully it won't take a year to find a new job :)
I think your being very sensible. we've had 3-4 months at my work when not knowing who is keeping their jobs or not. Knowing that if it happens, you will be okay for a while with savings etc, makes the whole process a lot less stressful as you don't have the money side to worry about so much. And its happening at more and more companies and i can't see it ending anytime soon. having an emergency fund is just common sense if you can manage it.
and hopefully it won't take a year to find a new job :)
I agree, I have kept aside around 12 months of money for when I lose my job and have to look for another, and to offset a lower wage potential in a new job for a while if I have to take something much lower. My only problem right now is not being able to put much more towards that fund or a retirement fund or my mortgage :(
hookbeak
22-06-2008, 13:47
i have about 15 minutes worth of money if i lose mine. Like most people.
Spooky_uk
22-06-2008, 13:53
15 minutes? luxury, we'd be lucky to last 2 minutes in that event :( one can oly hope that things turn the corner sooner...
I could not let myself be in that state. To be honest when I lose my job I'll probably move back to my mum's and rent out my house to hopefully cover most of the mortgage stretching my savings even further. It would be an inconvenience but would stretch my savings much further. Obviously that is not an option for a lot of people but still the savings surely is for most to at least 3-4 months built up over a while?
I dont really have much in savings. Im in a position where im in social housing (was best for the growing family at the time), so rent is very cheap. I dont personally drive, and the missus doesnt drive far anyway. My job pays well enough to cover any rises in fuel etc. and there is plent of work to go round.
Ive learnt how to budget since our little un was born is if anything its business as usual
Hmm, driving and mortgage are the killers really for me, that and rising flight costs are going to hit my job security hard! I am re-mortgaging to a reasonably lower mortgage than my current one but because of higher interest rates I'll be paying about the same per month :|
...........government approved mileage is barely covering actual cost per mile of just the fuel on my car
is that the 40p per mile that has not increased since 2002?
It's not enough to cover the real costs anymore unless you drive a cheap on fuel old car.
We are given the choice of either a hire car fully paid for or use your own at 40p / mile
Saying that I still might use my old Hilux @ 30 mpg for some up and coming business trips. £40 per 100 miles will make me £20 / 100 (ish) :D
Yep, 40p per mile!
I do hire cars sometimes but the company just looks at what is cheapest to them not me :|
started cutting back here now
went to Asda this week to do the weekly shop - pretty depressing, and yet not noticebly cheaper than Sainsburys
have also cancelled my Giganews subscription (Virgin Media's own free newsgroup server ain't so bad) - might have to give up V Media totally soon and go back to Freeview and (shudders) ADSL
got a Sodastream & Breadmaker for my birthday, so saving a little there too
Yep, 40p per mile!
I do hire cars sometimes but the company just looks at what is cheapest to them not me :|
Buy an old banger diesel and use 50% Veg oil and turn upto work in that smelling of chips, they will soon send you out in a hire car then :D
started cutting back here now
went to Asda this week to do the weekly shop - pretty depressing, and yet not noticebly cheaper than Sainsburys
Try Lidl / Aldi and Iceland, then you can moan about depressing :lol:
internetuser
22-06-2008, 18:39
I do not know how people will cope soon, my and the wife live within 4 miles of work, and drive a 1.2 and a 1.0 car (we did have a big family 2.0 car but that had to go,due to petrol and other running costs) Public transport goes no wear near work, or is a 60 minute bus ride....
So fitting 2 kids in a corsa and micra is fun now, but it was the only cost sensible option. Lost a bomb on the mondeo as well..... Public transport,hmmm, I can metro into newcastle with kids and wife, but its about 3 quid each for us, and about 2 quid for the 7 year old... nearly a tenner. Car is still cheaper and easier currently...
Gas and electric has gone up from £60 to nearly £120 a month in 3 years (not counting the odd silly bill due to a faulty system)
Childcare is £245 a month for the 2 year old (2 days a week) and 60quid for the 7 year old. Wife could go back full time, but then child car for 2 year old goes up to £600 ish for the 2 year old and £150 ish for the 7 year old.. for hardly much more money and alot more stress....
Mortgage is going up £200 at least in Sept.... Least we have a good wack in equity in it currently
Food, well I do not need to start on that, we did buy bean for £1 for 4 tins, its now £1.20 for the same 4 tins.. this is in weeks not months.
Not sure how we will pay it all tbh.... changing jobs is an option, but for the extra it will cost in fuel it may not be worth it, and the floss of flexable working
When we were single it was easy, had savings and emergancy money, soon gets taken up with a family.
hookbeak
22-06-2008, 19:24
Obviously that is not an option for a lot of people but still the savings surely is for most to at least 3-4 months built up over a while?
I doubt it. Kids cost a bloody *fortune*, they eat and need clothes and childcare and you need heating on because you can't freeze the poor little buggers. before we had kids i had money left every month easily - now i finish every month overdrawn.
Still, only 16 months till the youngest starts school - that'll save about £300 a month in childcare...
I'll be making serious cut backs if i book 2 return flights to Las Vegas tomorrow.
[QUOTE=internetuser;8095126]my and the wife live within 4 miles of work, Public transport goes no wear near work, or is a 60 minute bus ride..../QUOTE]
So, about an hour to walk or a 20 minute fairly leisurely bike ride. It's another option if you need it.
internetuser
22-06-2008, 19:47
[QUOTE=internetuser;8095126]my and the wife live within 4 miles of work, Public transport goes no wear near work, or is a 60 minute bus ride..../QUOTE]
So, about an hour to walk or a 20 minute fairly leisurely bike ride. It's another option if you need it.
the problem is I work across sites over a 12 mile area. And she meets clients off site most days. we car share some of the time.
The other problem is the kids and the english weather. walking is not really realistic when they need taking to school and childcare.
Phoenixetta
22-06-2008, 19:55
Currently living within walking distance of the job I'll begin in September, which will save a packet in fuel costs. Problem is boyfriend lives an hour away so ideally we'd get something in the middle but fuel costs are kind of putting that one on the back burner. I don't really know what to do about buying a house at the moment, not sure whether to get in there or to see how the market goes.
degeneration
23-06-2008, 08:23
I've been looking at my outgoings and bill wise I'm absolutly fine, but I have been spending more each month than I earn, eating into my overdraft. I've got about £6,000 on my overdraft and CC, so its time for me to stop spending and clear this debt.
Its almost been out of sight, out of mind, especially where the credit card is concerned.
To be honest, I think its gotten worse since I've had the car as I haven't changed my spending habits from when I got the car last August.
Not overly worried at the moment; am on significantly more money now than in April, and get another significant payrise in August.
Nevertheless, no need to waste money and am doing my bit for the environment with the car by combining journeys etc (especially as its a 1.8l V6 so lots of fun but not great on the MPGs! Although on the flip side, its a long way from being financially viable to swap it for something boring). Have managed to pay off significant amounts of debt so far this year too, which is good.
I do feel for the people with kids / other dependents. Although I lived in a house with crap heating for many years, never did me any harm, so turning down the thermostat is definately an option!
sandman_2ooo
23-06-2008, 12:01
I live at home at the moment since I am just finishing off my PhD. I am rather stuck at the stage of not being able to move up the ladder of earnings because I have to wait for my examination. I pay rent at home mostly because I see my parents are starting to struggle; they are shopping at Aldi rather than Tesco although the food is just as nice I have found in most cases. They also have my younger sister to look after (she is 8) so that makes things difficult for them too. My mum I think regrets getting her petrol guzzling X-Trail too...
For me the biggest hit on the pocket has been fuel since my partner lives ~70 miles away. We have been together about 2 years now and the change in fuel price has been really noticeable. As a result we tend to do alot more walking with picnics, or staying in with a DVD - we have even managed to find that some museums can be quite interesting. We have managed a cheap week away in Norfolk this year which was nice but partly that was due to her relatives offering some money too. I have also starting driving at 60 rather than 70-80 on motorway and just generally dawdling on other roads, which has helped in that I get nearly an extra 70 miles from my fuel tank. The one thing about the whole situation is that the rise in fuel has meant that in the past year I have spent nothing whatsoever on myself; I am just glad I tend to not put much wear on my clothes or break things that often!!
What I dread the most is getting onto the housing ladder. My plans at the moment are to continue living at home and try to get a considerable amount of savings under my belt before I put more serious consideration into my housing options. It may be the case that I can move a little more up north where the cost of housing is considerably cheaper. In addition, the predicted 9% drop in housing prices may well come at the right time for me. I have some savings tucked away (12k), but I see that as very little to get me started off on my own; I am pretty sure if I started using it now to offset rising costs it would be gone pretty quick.
Alex.
I do not know how people will cope soon, my and the wife live within 4 miles of work, and drive a 1.2 and a 1.0 car (we did have a big family 2.0 car but that had to go,due to petrol and other running costs) Public transport goes no wear near work, or is a 60 minute bus ride....
So fitting 2 kids in a corsa and micra is fun now, but it was the only cost sensible option. Lost a bomb on the mondeo as well..... Public transport,hmmm, I can metro into newcastle with kids and wife, but its about 3 quid each for us, and about 2 quid for the 7 year old... nearly a tenner. Car is still cheaper and easier currently...
Gas and electric has gone up from £60 to nearly £120 a month in 3 years (not counting the odd silly bill due to a faulty system)
Childcare is £245 a month for the 2 year old (2 days a week) and 60quid for the 7 year old. Wife could go back full time, but then child car for 2 year old goes up to £600 ish for the 2 year old and £150 ish for the 7 year old.. for hardly much more money and alot more stress....
Mortgage is going up £200 at least in Sept.... Least we have a good wack in equity in it currently
Food, well I do not need to start on that, we did buy bean for £1 for 4 tins, its now £1.20 for the same 4 tins.. this is in weeks not months.
Not sure how we will pay it all tbh.... changing jobs is an option, but for the extra it will cost in fuel it may not be worth it, and the floss of flexable working
When we were single it was easy, had savings and emergancy money, soon gets taken up with a family.
You don't want to take the kids to The Hoppings this year then.
Almost everything was 2 quid a go! For a family of four to go on the Ghost Train cost us 8 quid :eek:
I'm just pleased it was raining so we didn't stay long :D
I doubt it. Kids cost a bloody *fortune*, they eat and need clothes and childcare and you need heating on because you can't freeze the poor little buggers. before we had kids i had money left every month easily - now i finish every month overdrawn.
Still, only 16 months till the youngest starts school - that'll save about £300 a month in childcare...
The house we lived in until I was 7 had no central heating and was single glazed. If we were cold we put another jumper on! And we didn't care or feel hard done by.
I've switched my Cougar for a diesel Outback but as the house move has been delayed I'm not doing any extra mileage so although I'm getting slightly better mileage the extra cost of diesel if offsetting the difference. I'm spending less on 'stuff' but that because of the house move as I have enough junk to move and am trying not to add to it! I'm noticing my weekly shop seems to be getting more expensive week on week and we're trying to cook meals that we can use for a couple of days or main meal plus lunch eg big pot of chilli or veggie curry.
hookbeak
23-06-2008, 13:38
The house we lived in until I was 7 had no central heating and was single glazed. If we were cold we put another jumper on! And we didn't care or feel hard done by.
So did ours and it was ****. That was 30 years ago though, you'd think we'd have moved on by now.
internetuser
23-06-2008, 17:24
You don't want to take the kids to The Hoppings this year then.
Almost everything was 2 quid a go! For a family of four to go on the Ghost Train cost us 8 quid :eek:
I'm just pleased it was raining so we didn't stay long :D
I read in the chronicle that they were not putting prices up this year, but they were getting hit hard....
hmm, all cash in hand, year right.. but they rekon it takes 100 liter an oil a day to serivce some of the rides.
I "missed" it this year, as i hate the place. And since I did not go near town for the last 2 weeks the kids did not notice... a although the 8 year old commented that it must be the townmoore soon as it was raining...
Just seen your location, us Lancastrians are born tougher than you lot :p
30 years on its too ****** expensive to keep it warm enough for the rugrats to run around in t-shirts in the middle of winter!
the party's over guys.
I do find some of the press reporting so flawed, basically blaming Indians/Chinese now they're starting to want dairy/meat and cars. Increased food and fuel is a pain here but in many countries it is literally killing people for whom food is the key part of their budget
The 3 little pigs
13-08-2008, 16:42
Just done a re-jig of my finances and manged to save £130 a month! I was quite pleased with this until I realised I've been wasting £130 a month for god knows how long! Grrrrr! :D
How is everyone else getting on with the money saving?
Moving rented accomodation isn't helping me this month!
Rip Curl
13-08-2008, 18:48
Personally I haven't felt the "credit crunch". No doubt I will see increases in utilities, but my disposable income can swallow that. I save the same amount each month, I buy many (HD) DVD's still. I still have socialise and spend the same each week.
I finally noticed the credit crunch. Bought 2 jars of coffee for £6 as normal, but had to pay £7 for 2 jars of decafe. Not good :( Gonna have to put up the weekly coffee fee now!
In light of the current uncertainty in the banking sector, I think I'm going to try and build up some cash reserves. Won't be buying many games or films for the rest of the year and likely not going to eat out much.
All pre-ordered games stay though - agreed that with the Missus :D
Well, our gas/electric monthly bill has doubled :(
Just had 2 very quiet months at work and rely on overtime to get by, So have had to cut right back recently. Has picked up very well in the last 2 weeks though, so putting the money spent back in the bank account. I have a loan finishing soon, so will free up some cash.
SIMON ADEBISI
16-09-2008, 20:48
I have a yrs worth i think if i dont buy any dvds or bluray.
I was umming and awwing about going to Oktoberfest with friends but have decided not to as the future of our company in Ireland is looking quite dicey at the momentand i know between flights, a bed and beer i would blow will over a grand.
I'll defo be making some hefty changes over the next year.
I've got a wedding next September to save for and I'll be paying double rent as of November as well due to moving into my own accomodation rather than house sharing. Thankfully the missus and I will now have combined incomes so this will help.
It's still gonna be tight though.
d.boyd1uk
16-09-2008, 23:30
This credit crunch is going to be so bad, We have cutback for months. Its going to the worst recession in history, it is going tits up.
once the intrests rates start rising and job losses people will start to lose their houses.
Johnny Vodka
17-09-2008, 08:05
I stick to a monthly budget and don't have debt on credit cards, so not too worried at the moment.
Also mortgage is fixed for a couple of years and I work in the public sector.
How much do people save a month, I’ve managed to save between £400-500 this month. Once the mortgage and bills have been paid. I will have a better figure on the 27th as that’s when I get paid and I can see what I’ll have left. I've been giving myself £250 to spend per month (petrol, beer, anything really) then saving the rest.
I've just been trying to clear all my [consumer] debt. Have a bit of a hangover from being on a training wage. Not sure I'd be able to save £400-500 a month though; thats quite impressive.
How much do people save a month, I’ve managed to save between £400-500 this month. Once the mortgage and bills have been paid. I will have a better figure on the 27th as that’s when I get paid and I can see what I’ll have left. I've been giving myself £250 to spend per month (petrol, beer, anything really) then saving the rest.
Depends on how you define saving! I actually save very little per month (my ISA I fill max every April so that averages to 300/month but is done as 3600 in one lump) but I overpay my mortgage into an offset savings account by as much as I possibly can at the moment!
At the moment I have one big advantage though, I've been travelling on business pretty much solid for the last few months so I've spent virtually nothing on fuel and food etc as its all expensed. This helps a lot but I know when I get back to being at home it will be a lot worse.
hookbeak
17-09-2008, 14:44
This credit crunch is going to be so bad, We have cutback for months. Its going to the worst recession in history, it is going tits up.
once the intrests rates start rising and job losses people will start to lose their houses.
well, at least you are looking on the bright side.
DVDWotcha
17-09-2008, 14:55
Definitely no major work on the house for a while so hope to pay a wedge off the mortgage. Just have to try not to get the wife up the duff again as that could screw things big time.
d.boyd1uk
17-09-2008, 15:09
well, at least you are looking on the bright side.
realistic side, been there and done it back in 1990, this looks like its going to be worse.
Raigmore
17-09-2008, 16:21
The wife and I have worked out a plan that should save us about £150 per month on fuel costs for the cars. We are also trying to save on grocery bills without affecting the quality of our table; this is more difficult, but I think we are managing a saving of £50 to £75 per month. I'll look for more bargains while buying DVDs and so on.
d.boyd1uk
17-09-2008, 16:46
The wife and I have worked out a plan that should save us about £150 per month on fuel costs for the cars. We are also trying to save on grocery bills without affecting the quality of our table; this is more difficult, but I think we are managing a saving of £50 to £75 per month. I'll look for more bargains while buying DVDs and so on.
its good to do a review, you can see were your money is going, we have turned the heating off and only turn it on when we really need to, so far so good, we use energy efficient light bulbs, we turn all lights off, I save on the grocerys, we spent to much on them anyway, just lobbed stuff into the trolley, we have cut sky down and may even get rid of it for the short term, haggled for cheaper car insurances, we spend alot less on the credit cards, we fill the kettle with less water and so on....
just getting ready for the power cuts which they are promosing in 5 years time, its getting depressing. Also my job is not safe, my wife works in the bank, so her jobs not safe, and breathe :nuts:
green_cat
17-09-2008, 17:06
This credit crunch is going to be so bad, We have cutback for months. Its going to the worst recession in history, it is going tits up.
once the intrests rates start rising and job losses people will start to lose their houses.
I'm right with you on this. I suspected this might happen a few years ago so went into economy overdrive in preparation. Cleared all debts and began saving in earnest to prepare for a massive downturn.
When some of the food, I regularly buy, doubled in price in less than a year - I started stockpiling long lasting food goods. If nothing else it gives a better rate of return than the bank at the moment.
I think the repos must already be happening - in my area the number of houses for sale in the lower price brackets has tripled since Jan.
Still buy the odd DVD though :D
I'd hazard a guess that Sky TV could be one of the biggest losers here. And that's even taking into account that some people see it as cheaper entertainment than going out for the night. Anyone else intending to cut Sky out?
hookbeak
17-09-2008, 18:06
People are stockpiling food?
Did I read that right or is my mind playing tricks on me?
d.boyd1uk
17-09-2008, 18:12
People are stockpiling food?
Did I read that right or is my mind playing tricks on me?
it may be worth it, i thought this the other day, Italys 2nd biggest money spinner is food, they have lost 50% of the bee population, so they could be in trouble with crops. Infact bees are on the decline. It may just be worth stocking up on BOGOF, especially tuna, tins stuff.
It may not happen but who knows, my mother in law has always stored food, tonnes of the stuff, she was from the war era so I can understand why.
Raigmore
17-09-2008, 18:18
It is amazing how much extra mileage one can get out of the car by slowing down a bit and altering the driving pattern. My 3-litre Subaru Outback used to just touch 300 miles to the 55-litre tank, but by judicious change to my driving pattern, I am now stretching it to 330 to 340 miles.
We are also trying to save on the electricity bills by using heating only when necessary, switching off lights after use and so on.
We have also reduced the frequency of take-aways and going out to eat.
I got sky around a year ago when I moved in with my partner and was blowing money stupidly. cancelled after 6 months though the price would have to drop very low for me to actually be getting value from it in the first place.
I'm pretty stumped at how people manage to actually support families and live the suburban dream. I don't run a car, rent a small shared flat, haven't bought luxuries like books/cd's over the last year or so and eat cheap mainly from being veggie. I'm on above average wage but don't save much each month at all, if I had other mouths to feed I reckon I'd just be breaking even at best.
Mattie F
17-09-2008, 18:29
This credit crunch is going to be so bad, We have cutback for months. Its going to the worst recession in history, it is going tits up.
once the intrests rates start rising and job losses people will start to lose their houses.
I blame the media for whipping up the hysteria.
At the end of the day what's happened? Has the oil run out? Is there some terrible pandemic? Or an awful natural disaster? No, no and no. Nothing particular has happened other than lenders are now showing the kind of responsibility they should have been showing anyway.
So, the results are that some of the irresponsible lenders will go down the pan and there will be a correction in house prices.
2009 will probably be similar to 2008 and then we'll be back to normal - mark my words.
In all honesty, and end to irresponsible lending and people living a little more frugrally is no bad thing, it's just that cheap credit was used to sustain the boom times and therefore the lean times will be a little deeper and will last a little longer.
mattymoo
17-09-2008, 20:01
its good to do a review, you can see were your money is going, we have turned the heating off and only turn it on when we really need to, so far so good, we use energy efficient light bulbs, we turn all lights off, I save on the grocerys, we spent to much on them anyway, just lobbed stuff into the trolley, we have cut sky down and may even get rid of it for the short term, haggled for cheaper car insurances, we spend alot less on the credit cards, we fill the kettle with less water and so on....
just getting ready for the power cuts which they are promosing in 5 years time, its getting depressing. Also my job is not safe, my wife works in the bank, so her jobs not safe, and breathe :nuts:
Pretty much the same here. Currently earning a lot but job is under review and I'm facing redundancy.
We've cut Sky back from £48 to £20 a month, stopped DVD rental service and wine club and gone for British Gas flexi cover instead of full cover.
Have also started stocking up on food and a few other things when they are on offer. Stopped the luxury purchases as well.
Fortunately I have a 3 month notice period so will put a fair bit by each month - my current outgoings are only 50% of my take home so will be able to have a 6 month buffer.
mattymoo
17-09-2008, 20:06
Not wishing to add to doom and gloom but many firms are likely to be facing hugely increased insurance costs. This was expected to bite within 12 months but the problems with AIG could cause this to happen within a month.
In the past, a firm employing 50 persons in say the plastics industry might pay in the region of £20k per annum for commercial insurance including liability covers. Costs will double or possibly treble on the back of this since AIG were a big market player and could afford to underwrite stuff at a loss in order to sustain market growth. This has backfired on them and premiums will adjust. With no cheap competition the rest of the market will look to charge the full technical rate for the risk instead of the heavily discounted premiums we are currently seeing.
pyrogena
17-09-2008, 20:17
it may be worth it, i thought this the other day, Italys 2nd biggest money spinner is food, they have lost 50% of the bee population, so they could be in trouble with crops. Infact bees are on the decline. It may just be worth stocking up on BOGOF, especially tuna, tins stuff.
It may not happen but who knows, my mother in law has always stored food, tonnes of the stuff, she was from the war era so I can understand why.
Oh god, should I buy bees too?? :eek:
/panics and runs off to the bee shop. Wonder if they have any BOGOF offers?
hookbeak
17-09-2008, 20:28
I blame the media for whipping up the hysteria.
At the end of the day what's happened? Has the oil run out? Is there some terrible pandemic? Or an awful natural disaster? No, no and no. Nothing particular has happened other than lenders are now showing the kind of responsibility they should have been showing anyway.
I agree completely, I do the website of a large estate agents and the boss of it was telling me that the whole housing prices bottoming out was nothing of the sort, the media *telling* us it was a crisis actually caused the issue. He said that it was only after about 3 months of it being in the news every day did they start to see any change at all - and then the buyers were holding off because they told them they had heard about the "crisis" and thought they should wait.
In his opinion it was 100% media fuelled. I think this credit crunch ******** is much of the same, in a couple of years we'll be listing it alongside bird flu as "something panicked about but ultimately a load of old cock"
NicolaUK
17-09-2008, 20:39
In his opinion it was 100% media fuelled. I think this credit crunch ******** is much of the same, in a couple of years we'll be listing it alongside bird flu as "something panicked about but ultimately a load of old cock"
Millenniumbugtastic!
No cut backs from me but then again I am only in the UK 2 days a week (Sat / Sun). As for those 2 day I stop over at the folks place. Does not make any financial sense to rent when only would be staying here for 8 days a month, so just looking for the house prices to get into shape to buy my own place.
d.boyd1uk
17-09-2008, 20:44
Oh god, should I buy bees too?? :eek:
/panics and runs off to the bee shop. Wonder if they have any BOGOF offers?
Dont be cocky GRUMPY :p
pyrogena
17-09-2008, 21:09
Dont be cocky GRUMPY :p
Wasn't being cocky, I've got 1000 bees in my back garden now. You'll soon stop laughing when I'm living off honey as everyone else eats gruel!
neilalford
17-09-2008, 21:12
Millenniumbugtastic!
The millennium bug was a non-issue because of a lot of the panic beforehand though, I'm not denying it was over-hyped (a lot), but if nothing had been done people almost certainly would have encountered issues, though probably not the end of the world that some were predicting.
Not really done anything different yet even tho having a slight rise in the shopping, gas and elec (we arent big gas users tho, I prefer a colder house). Im still skint, as I have some debt to pay off and Im throwing about 600 pmnth at that until its all paid. (money we could be enjoying) So have always budgeted anyway. I think the main problem behind all this panicking is that people will find it harder to borrow money, but surely thats a good thing isnt it?
And no holiday this year (altho we did have a weekend camping) and Im making no plans for one next year.
neilalford
17-09-2008, 21:13
Wasn't being cocky, I've got 1000 bees in my back garden now. You'll soon stop laughing when I'm living off honey as everyone else eats gruel!
Have you not seen "The Swarm" :eek:
green_cat
18-09-2008, 06:23
In his opinion it was 100% media fuelled. I think this credit crunch ******** is much of the same, in a couple of years we'll be listing it alongside bird flu as "something panicked about but ultimately a load of old cock"
I'm sure you're right - several banks going bust in a year is something that happens all of the time.
To be honest - it's hard to see how house prices trebling every 10 years was something that was going to be sustainable in the long term (particularly when wages weren't doing the same). Nor was it a good thing, how on earth was someone born too late ever going to buy a home?
House prices are almost completely a function of the amount a bank will lend the average person (as the average person isn't terribly great at saving up large amounts).
Take one of my family members - 100% mortgage (as cannot save) so could not afford to buy now as bank will not lend the money, but could 2 years ago. Prices on their street have gone down since then.
And in the end - estate agents, like all good salespeople, will always tell you what you want to know (but usually that it's a great time to buy).
Part of the problem, of course, is that sentiment is often self-fulfilling. People believe prices are going to go up and up (and by acting accordingly - cause it to do so). Unfortunately, for some, the reverse is also true.
Dons tin foil hat and continues to stock pile food. If you're going to panic - then it's best to do it before anyone else.
Raigmore
18-09-2008, 06:28
I blame the media for whipping up the hysteria.
At the end of the day what's happened? Has the oil run out? Is there some terrible pandemic? Or an awful natural disaster? No, no and no. Nothing particular has happened other than lenders are now showing the kind of responsibility they should have been showing anyway.
So, the results are that some of the irresponsible lenders will go down the pan and there will be a correction in house prices.
2009 will probably be similar to 2008 and then we'll be back to normal - mark my words.
In all honesty, and end to irresponsible lending and people living a little more frugrally is no bad thing, it's just that cheap credit was used to sustain the boom times and therefore the lean times will be a little deeper and will last a little longer.
Good, sensible post and thanks for that. This sort of thing has happened before and doubtless will do so again. Apart from sensible trimming around the edges, there is not a lot of us Joe Publics can do, apart from going with the flow, really. No sense in joining the media-sponsored panic.
Take the drop in the housing market for instance. The figures are really only relevant to those who are planning to buy or sell in the next 18 months or so, maybe less. We have a house in the country which only last year we expected was worth close to £ 1 million, but it does not seem that way right now. But then we are definitely not planning to sell for at least another 8 years and with a 5-year good fixed mortgage rate that has run less than 6 months, I do not see the point of worrying. It makes little difference right now whether the hosue market is up or down because we ain't selling; I am sure there are lots of others in the same boat.
campdave
18-09-2008, 08:07
and gone for British Gas flexi cover instead of full cover.
Thanks , wasn't aware of this plan and have rung up and saved £7 a month on this :D
Johnny Vodka
18-09-2008, 08:23
Providing you live sensibly (i.e. within your means), it sounds overhyped. Having to drop Sky hardly constitutes a major crisis.
In fact, those of us canny enough to have some savings should see some of the "crisis" offset by an increase in interest paid.
dvds2000
18-09-2008, 08:31
Wonder if the poll results would be different now, as its around 5 months old now, I've definately seen a downturn in retail spending over the past few months.
Boom and Bust baby, Boom and Bust! Exactly the thing the Mr Brown promised he had banished.
People over extended their finances, lived the dream you could say. Taking on debt now (that they couldn't pay back now), promising to pay it back in the future because there was a belief that things would get better in the future and they would be able to afford it, pay rises, better jobs etc.
Banks were awash with cash (not real money just the promised stuff from people living the dream). The debt was parcelled up and sold on to other Banks eager for a slice of the pie. When it came time to pay up the pay rise hadn't come, the better job went somewhere else.
It's going to be tough, people are going to lose their jobs and their homes. This will affect this generation the same way the late eighties affected mine. Because of my experience in the late eighties I am well placed, money in the bank, bills at the lowest rates I could find etc. I don't need to adjust my spending. I still have four foreign holidays a year, I still spend on clothes when required, I still socialise as much as I used to. There are upsides for me, interest rates are high which means my savings are earning, there are bargins to be had because merchants still need to sell things.
So after all that waffle the answer is, no, I won't be cutting back, if anything I'll be ramping up to take advantage of a bargin or two
Just Passing
18-09-2008, 09:33
So after all that waffle the answer is, no, I won't be cutting back, if anything I'll be ramping up to take advantage of a bargin or two
The rich get richer, the poor get poorer ;)
I was also affected by the 80s crash. I was a first time buyer. I had been in my house 6 months, mortgaged to the hilt, then lost my job. Interest rates climbed, my savings dwindled to minus figures, but somehow I pulled through - although massively in debt.
All these years later, I have moved home several times working my way up the property ladder. I now have debts (including mortgage) totalling about a third of my (current) property value, but not a lot (a few thousand) in the way of savings. I'll get through though. I don't see much need to cut back at the moment but can see the arse falling out of the economy by the day so know cut backs will be inevitable.
I can cut back on things which I feel I have control of - offsetting against the mortgage, cheaper cable package, selective food shopping etc.
But it's the other expenditures which I feel are beyond my control which annoy me. In general, utility bills keep outstripping inflation by a good margin. My council tax bill has gone from circa 800 to just under 2,000 in a little over a decade. How anyone can futureproof themselves against these bills is a mystery to me!
only debt I have is my student loan.
Got savings probably of around £20k or more between the missus and I.
Job seems stable enough - I was first in, and been there the longest, so won't be first out.
Probably have nearly £1k a month spare to put away into savings after mortgage and bills - although I can forsee only ~£500 - £800 being placed into savings accounts from my salary.
Wife will also be adding £500 a month into a savings account as well.
So pretty much in a good position. I got my house 2 years ago. House prices would have to fall by over 50% to put me in negative equity - even then if I could sell it, i'd probably grab a bargain.
So basically - i'll keep saving hard for a year or two and have a nice deposit to buy a nice bigger house at a bargain price.
As for heating and electric - I was talking with the gas man and simply put - people have become dependant on Central Heating systems and whack the heating on whenever they feel a chill - then complain about high bills. Rewind back 30 or 40 years ago and this would never have been the case. Some wooly socks and some extra jumpers will sort that chill out and help bring down the bills.
Set your heating as cost effectively and don't change it, otherwise you'll suffer the extra cost.
You are the secret millionaire and I claim my five pounds :)
Johnny Vodka
18-09-2008, 12:34
As for heating and electric - I was talking with the gas man and simply put - people have become dependant on Central Heating systems and whack the heating on whenever they feel a chill - then complain about high bills. Rewind back 30 or 40 years ago and this would never have been the case. Some wooly socks and some extra jumpers will sort that chill out and help bring down the bills.
Indeed. My (storage) heating is off April - September and I only turn up it gradually through winter as it's needed. I walk into some people's houses and wonder how (a) they can live in such sweltering temperatures and (b) why they can't turn the heating down a bit and put on a jumper!
pyrogena
18-09-2008, 14:51
Indeed. My (storage) heating is off April - September and I only turn up it gradually through winter as it's needed. I walk into some people's houses and wonder how (a) they can live in such sweltering temperatures and (b) why they can't turn the heating down a bit and put on a jumper!
Agreed, one of my friends didn't turn off her central heating all summer and even then kept whinging that she was cold. I'd buy her a jumper for Christmas, but credit crunch and all that I ain't buying no gifts this year :razz:
Johnny Vodka
18-09-2008, 15:07
Girls are the worst for needing the heating turned up to 11. I blame their biology or innate lack of financial sense.
right are there any experts who can put these claims to rest.
Leave your hot water on all day - so the whole tank never has to be heated just clicks on and off to keep it at temperature?
Leave the heating on low all day rather than putting it on in morning off when you leave then on when u get back in again?
Personally my hot water is on from 5am - 10pm but ive now changed it to 5-10am and then 4pm-10pm
heating is just turned on and off by the +1 hour boost button?
As said in this thread though jumpers and wooly socks are the key to low gas bills:D
And what about leaving the switched shower on all day while we are at it?
Lagerlout
19-09-2008, 09:35
I have no savings, debt of about 10k (although 5k of that is student loans) and after bills have about £500 a month to eat and live on. I should probably be worried, but whats the point? Now is a very bad time to move jobs, unless your current one is about to go, as you'd be first out in the new place.
As for cutbacks, none whatsoever, I've always lived like a student and shopped off the promotion aisles. There's always been 2 for one offers on every essential you could need, you just switch brands to what is cheap at the time. Food wise its the same, buy whats on offer at the time and you halve your food bill. Not rocket science! Although some so called reductions are a con, I've seen items on BOGOF but costing 50% more to start with than better products. As long as you're not stupid though its not a problem. Also I have a large freezer, which is usually full as I tend to usually buy stuff I can freeze and eat whenever.
Of course, I don't have a family to worry about. Makes life a LOT easier!
We're definitely making cutbacks, I'm quite worried about the next few months/couple of years. The house we bought this time last year is definitely worth less today (not that it's a problem, we plan to leave here "feet first" as the saying goes).
I've always been a bit frugal on the food front, have no shame in shopping at Lidl/Aldi, especially for tinned goods (like pulses, tomatoes, fish, etc.) but I'm digging out recipes for cheaper cuts of meat and freezing them in smaller portions than I might have done a year back.
As for heating bills, we had a multi fuel burner installed earlier this year and it chucks out an enormous amount of heat - enough to keep the whole house warm so I'm hoping that we can avoid using the central heating on all but the very coldest of days. I must admit though that since losing shedloads of weight a couple of years back, I feel the cold more than I used to so and often had to work curled up in a blanket much of last winter.
Lastly, I would love to see a separate forum specifically for money saving tips - anyone else?
We're definitely making cutbacks, I'm quite worried about the next few months/couple of years. The house we bought this time last year is definitely worth less today (not that it's a problem, we plan to leave here "feet first" as the saying goes).
I've always been a bit frugal on the food front, have no shame in shopping at Lidl/Aldi, especially for tinned goods (like pulses, tomatoes, fish, etc.) but I'm digging out recipes for cheaper cuts of meat and freezing them in smaller portions than I might have done a year back.
As for heating bills, we had a multi fuel burner installed earlier this year and it chucks out an enormous amount of heat - enough to keep the whole house warm so I'm hoping that we can avoid using the central heating on all but the very coldest of days. I must admit though that since losing shedloads of weight a couple of years back, I feel the cold more than I used to so and often had to work curled up in a blanket much of last winter.
Lastly, I would love to see a separate forum specifically for money saving tips - anyone else?
How you enjoying it there Daisy? Newbury isn't it? You not shopping at Waitrose near you then?
NicolaUK
19-09-2008, 12:26
I see that Tesco now have a whole new range of 'discounted brands' in their stores, all looking like they're different companies but they're actually Tesco products - I'm guessing they're feeling the pinch of people stepping down a notch in their supermarket choice. I do wonder if they're just repackaging their value lines though?
Mr Flibble
19-09-2008, 12:29
I do wonder if they're just repackaging their value lines though?
It wouldn't suprise me to be honest. Ourselves, the heating still isn't on yet, and if it's cold - get a jumper on! Foodwise, like others I've no qualms in shopping in places like Aldi/Lidl etc. The biggest hit is still Diesel :(
pyrogena
19-09-2008, 12:32
right are there any experts who can put these claims to rest.
Leave your hot water on all day - so the whole tank never has to be heated just clicks on and off to keep it at temperature?
Leave the heating on low all day rather than putting it on in morning off when you leave then on when u get back in again?
Personally my hot water is on from 5am - 10pm but ive now changed it to 5-10am and then 4pm-10pm
heating is just turned on and off by the +1 hour boost button?
As said in this thread though jumpers and wooly socks are the key to low gas bills:D
These questions come up every year and, as yet, I don't think anyone has come up with a definitive answer - apart from put a jumper on! :D
NicolaUK
19-09-2008, 12:39
It wouldn't suprise me to be honest. Ourselves, the heating still isn't on yet, and if it's cold - get a jumper on! Foodwise, like others I've no qualms in shopping in places like Aldi/Lidl etc. The biggest hit is still Diesel :(
I did my first Morrison's shop last week, just a shame there isn't one closer to where we live as I'd definitely be there more often.
We're on LPG so our gas prices are awful, we bought oil filled rads last year, one for the living room and one for the office and they're on much more than the CH and are far more efficient :thumbs:
pyrogena
19-09-2008, 12:44
I did my first Morrison's shop last week, just a shame there isn't one closer to where we live as I'd definitely be there more often.
We're on LPG so our gas prices are awful, we bought oil filled rads last year, one for the living room and one for the office and they're on much more than the CH and are far more efficient :thumbs:
Do you find they're using less electricity (on a cost basis) than gas/oil would?
Might be a tough one to answer I suppose if you were on LPG! Did you electricity bill spike?
simion_levi
19-09-2008, 12:49
I did my first Morrison's shop last week, just a shame there isn't one closer to where we live as I'd definitely be there more often.
We're on LPG so our gas prices are awful, we bought oil filled rads last year, one for the living room and one for the office and they're on much more than the CH and are far more efficient :thumbs:
Been shopping at Morrisons since we moved here, 1.5years ago, for the majority of our food. Having been used to Waitrose, Sainsburys and a large Tesco previously, we were initially surprised that the choice and quality of Morrisons fresh produce was so much better than the other local supermarkets (have Sainsburys, Tesco, Asda, Lidl and more all within a few miles). Also good to see they are leading the way on fuel price drops, yet again (though still not dropped enough!)
d.boyd1uk
19-09-2008, 13:59
I am planning to get one of these on Sunday, just to see who the culprits are for my £88pm electric bill.
http://www.aldi.co.uk/uk/html/offers/2867_7248.htm?WT.mc_id=2008-09-19-11-25
KennyVader
19-09-2008, 14:14
I see that Tesco now have a whole new range of 'discounted brands' in their stores, all looking like they're different companies but they're actually Tesco products - I'm guessing they're feeling the pinch of people stepping down a notch in their supermarket choice. I do wonder if they're just repackaging their value lines though?
You are right, I have just been in my local Tesco Express and it's full of weird new brands like "Oak Tree Farms" (think that was on mayonnaise), "Premier Packers" (on tea bags) and other examples. They all have a small logo on the front that says something like "Discounted Brands at Tesco" and the back label is all the usual Tesco font/layout and says "produced for Tesco plc". Formerly the choice for something like mayonnaise would be Hellmans, or Tesco Value, maybe sometimes Tesco Finest would make an appearance too. Tesco Value was nowhere to be seen today, not in the Express size store anyway.
So yes I guess they figure that all the Tesco Value buyers have gone off to Aldi/Lidl etc, and they are trying to catch the eye of all the people who want to cut a few corners and not necessarily pay the Hellmans premium, but who consider themselves above having a cupboard full of Tesco Value labels.
I have heard this process of changing to a different "tier" of supermarkets (i.e. Waitrose --> Tesco/Sainsburys, Tesco/Sainsburys --> Asda/Morrissons, Asda/Morrissons --> Aldi/Lidl, Aldi/Lidl --> errr Farmfoods?) referred to as "downgrazing". I think we should make the term "downgrazing" become common parlance like "credit crunch". Tell all your friends you have decided to try "downgrazing" your weekly shop.
I am planning to get one of these on Sunday, just to see who the culprits are for my £88pm electric bill.
http://www.aldi.co.uk/uk/html/offers/2867_7248.htm?WT.mc_id=2008-09-19-11-25
Those can be quite a good investment from what I have seen. You can really see how much something costs in real terms and probably save the cost of the unit in just a short time.
How do you find out what your current electricity provider is charging per kW then, relating to those power consumption unit thingies I mean? Would their website show it?
farmroad38
19-09-2008, 14:19
How do you find out what your current electricity provider is charging per kW then, relating to those power consumption unit thingies I mean? Would their website show it?
It ought to be on your bill.
Usually their website will show it and your latest bill will too (although may have gone up since your last bill)
KennyVader
19-09-2008, 14:20
I am planning to get one of these on Sunday, just to see who the culprits are for my £88pm electric bill.
http://www.aldi.co.uk/uk/html/offers/2867_7248.htm?WT.mc_id=2008-09-19-11-25
They look a nice buy, I have a couple of these meters that I got from Maplin (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=60) a couple of years ago but although they tell you the kwH used, I don't think you can input the price per unit like those Aldi ones. That will be far more effective, to be able to see just how much in £££ having the heater on just cost!
The authorities would do far more to cut energy usage if they gave every household a couple of those rather than free crappy energy saving lightbulbs that are only of use if your lights have the correct fitting and you like living in dismal lighting conditions.
Looks like a trip to Aldi on Sunday for me then.
Usually their website will show it and your latest bill will too (although may have gone up since your last bill)
Probably quadrupled since my last bill judging by recent happenings, the thieving git-greedy trumpsters.
Might pop to Aldi to get one of those meters. When does that deal start?
Also, anyone know a good location to get one of those whole house meters? And any caveats about using them? The wireless type that attach to the incoming electricity trunk.
d.boyd1uk
19-09-2008, 14:56
Might pop to Aldi to get one of those meters. When does that deal start?
Also, anyone know a good location to get one of those whole house meters? And any caveats about using them? The wireless type that attach to the incoming electricity trunk.
this sunday.
How you enjoying it there Daisy? Newbury isn't it? You not shopping at Waitrose near you then?
:wave: Waves at Philc! A village between Newbury and Basingstoke so we shop in the big Tesco in Newbury or Morrisons in Basingstoke. And Lovely Lidl too of course ;).
And yes, we're loving it. Yesterday was the one year anniversary of the move so we're celebrating by having a meal at the posh Italian restaurant in the village tomorrow night. I still pinch myself sometimes when I look around at the beautifuly countryside here.
douglasb
19-09-2008, 15:04
we're celebrating by having a meal at the posh Italian restaurant in the village tomorrow night.
Fail. You're supposed to make you own spaghetti sauce from scratch and put an extra jumper on. This is the spending cutback thread remember?
Ah but I ain't paying for the meal ;-)
Mr Flibble
19-09-2008, 15:08
The fruit and veg at Morrisons near us is really poor! Must be a regional thing :)
KennyVader
19-09-2008, 16:34
Also, anyone know a good location to get one of those whole house meters? And any caveats about using them? The wireless type that attach to the incoming electricity trunk.
Think Maplin (http://www.thedvdforums.com/affiliatelink.php?localaffiliateid=60) may have them but they tend to be very expensive, e.g. £50 or so, thus taking quite a while to actually save you any money overall. Plus since they don't tell you anything about individual appliances so you don't know where to make any savings ... they just tell you the overall usage, which to be honest you can derive from your bill, or the numbers on your meter if you want quicker or more day-by-day measurements.
By way of a usage caveat, if they work by induction rather than by being actually wired into the incoming supply, I should imagine they need to be clamped around JUST the live component of your incoming supply (this is how temporary current meters normally work). If you clamp around live and neutral together in the same cable package, they won't work, you have to find a spot on the cable where the live and neutral are separated out; which they should be near the meter, but there might be a board or something over them. So I would have a look at the cables going in to your electricity meter and make sure the big chunky live (probably about 10mm in diameter, might be red, but not necessarily) is accessible before buying.
:wave: Waves at Philc! A village between Newbury and Basingstoke so we shop in the big Tesco in Newbury or Morrisons in Basingstoke. And Lovely Lidl too of course ;).
And yes, we're loving it. Yesterday was the one year anniversary of the move so we're celebrating by having a meal at the posh Italian restaurant in the village tomorrow night. I still pinch myself sometimes when I look around at the beautifuly countryside here.
Excellent, I remember writing the mail to you about Newbury and surrounding area and I know where you mean, I'm assuming that you went to Sasso's. Nice place that, although the last meal I had there wasn't all that.
Very nice village with some nice pubs and surrounding countryside.
I do indeed mean Sasso's! To be honest, I didn't rate the food that highly either (or maybe it was hyped too much!) but the staff there are lovely, it's a 3 minute walk and great to support local businesses. The Crown pub on the square does lovely pub grub too. We keep meaning to try The Swan because dogs are welcomed but haven't had a chance yet. Besides, it's a bit of a gossip hole - when we came to view the house the first time we stopped there for a drink and found out more about the village and many of its inhabitants than we've learned in a year of living here!
There's a Scarecrow Festival here next weekend - you and the family could combine a trip with a nice lunch :thumbs:
Update: Hang on, just discovered that Alan Titchmarsh could be attending (http://www.newburytoday.co.uk/News/Article.aspx?articleID=7342), scrub that idea... ;)
:lol:
I drive past Kingsclere on the odd occasion that I head to Basingrad and go into the office so I know it quite well. The Star ain't too bad as well for pub grub, just a bit of a pig to get too as it's on that awful bend. Also if you want really good food in the area you have The Crab at Chieveley which does excellent seafood and the Vineyard at Stockcross. There are more great restaurants in a 20/30 miles radius here than anywhere else in the country so it's a bit special.
I will bear Titchmarsh in mind :D
farmroad38
22-09-2008, 10:55
I am planning to get one of these on Sunday, just to see who the culprits are for my £88pm electric bill.
http://www.aldi.co.uk/uk/html/offers/2867_7248.htm?WT.mc_id=2008-09-19-11-25
Are these for sale all week? I couldn't get to my nearest Aldi yesterday, but looking on their website it doesn't show them any more.
should be on sale all week if they have stock.
farmroad38
22-09-2008, 12:03
should be on sale all week if they have stock.
Cheers Kryten. Guess a trek over there is in order then! Is it eco-friendly to undertake a 20 mile round trip to buy a device to see if I can save electricity? :lol:
The Star ain't too bad as well for pub grub, just a bit of a pig to get too as it's on that awful bend. Also if you want really good food in the area you have The Crab at Chieveley which does excellent seafood and the Vineyard at Stockcross. There are more great restaurants in a 20/30 miles radius here than anywhere else in the country so it's a bit special.
Thanks Phil, The Crab at Chieveley looks really lovely, hadn't come across that before. Have driven past the Vineyard a few times but I don't know if the budget'll stretch that far at the minute unfortunately - will get the 20p jar going again tonight!
Thanks for the suggestions around induction meters.
Went out and bought the Aldi appliance meter and then promptly spent quite a while on Sunday calculating what was costing what. TV, DVD, CD Player on standby was using 33w! (Had started turning that off when not in use, but definately going to carry on!). Was pleased to see the microwave clock didn't use much electricity though!
Will continue to examine what costs what within the house with it I think, its a good piece of kit (even if it did take ages to find inside Aldi itself!)
Thanks for the suggestions around induction meters.
Went out and bought the Aldi appliance meter and then promptly spent quite a while on Sunday calculating what was costing what. TV, DVD, CD Player on standby was using 33w!
Wow - that's pretty appauling! How much did the meter cost?
edit/ £6.99 - very cheap :)
Wow - that's pretty appauling! How much did the meter cost?
edit/ £6.99 - very cheap :)
Yeah, I know! Was quite amazed. Admittedly this is an older TV (big CRT), but even then thats half a 60w lightbulb being used for no reason!
Fridge uses a surprising amount as well, just not very often! Spikes to 1500 when it comes on, but infrequently.
campdave
23-09-2008, 07:15
Yeah, I know! Was quite amazed. Admittedly this is an older TV (big CRT), but even then thats half a 60w lightbulb being used for no reason!
Fridge uses a surprising amount as well, just not very often! Spikes to 1500 when it comes on, but infrequently.
We got one of these at the weekend after changing price plans with Southern Electric
http://www.flickr.com/photos/campdave/2874998749/
Hooks up to the mains supply by the meter, and tells you what is being used in the house at any time. As you said, the fridge and freezer don't come on too often, but cause big spikes when they do!
What tarriff did you move to with Southern?
Edit: Nevermind, found it, Better Plan - think I'm going to move to that one now instead!
Called Sky last night and got the tarriff reduced. Setanta I disconnected from in Dec but still works :thumbs: Switching from Swalec to Scottish Power capped as Swalec backdated and hiked up the charges. I remember switching to them and it being something like 6p peak, and 3p off peak, now it's 3 times that amount.
cjanderson
23-09-2008, 11:11
atlantic elec and gas were bad, they send out bills every 6 months, so you get one in March, and then, ohh the raise prices in April and don#t actually mention it until you get the next bill. sneaky.
i also decided not to upgrade my phone this year, and just keep the same phone with another contract, meant i got a free deal for the next 12 months and the phone did work perfectcly okay :D
Johnny Vodka
23-09-2008, 11:14
i also decided not to upgrade my phone this year, and just keep the same phone with another contract, meant i got a free deal for the next 12 months and the phone did work perfectcly okay :D
I still have the same PAYG phone from ~5 years ago. No wonder people feel cash-strapped with some of the tie-ins phone companies have you buy. Better keeping the mobile for emergencies and texting and using the landline for other calls (& never call mobiles). :p
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