Thursday, November 21, 2019

Still doing it many years later............

Back when I started this blog in May of 2008 I wrote a post here about how I put money away for various things on a weekly basis.  All these years later I am still doing it, albeit some things have changed slightly.

I still put $20 per week in each of my birthday and Christmas boxes.  This is something I do religiously and now I always have money in those boxes ready to use.  It also helps that quite often, especially for the adults, I give cash gifts for their birthday's and Christmas gifts.  As cash is always welcome I find!!

I have a third box and I put $50 away each week in that.  Now that box isn't earmarked for anything in particular, but we'll use that money if we go away as spending money.  Or we emptied out the box just last week to put towards some new furniture we have bought.

Over the years I have seen many savings schemes come and go.........this one works the best for me though!!

I go to the bank once a week and take out a set amount of money, and after many years I have had to increase the amount I take out, as I can't seem to make it last through the week.  There are a couple of reasons why.  Groceries have gone up a lot and we are trying to eat a lot more healthier.  However saying that we don't eat a lot of meat.  I am now spending $100 a week on groceries, sometimes more and there is only two of us.

Since we got the Ford Escape I am using a little more gas/petrol than I did with the Fiesta.  Also since moving to the city I am out and about a lot more; spending money.  So I can see where the extra money is going.

We are fortunate we can afford these extra expenses.  I often wonder how young families with daycare expenses, mortgages and more groceries to buy survive/manage?

10 comments:

Cathy said...

'I often wonder'.
My sentiments indeed and I often say something to the supermarket cashier each time I pay for groceries.
When asked how do families with young children manage with all the rising prices they just shrug their shoulders and say 'we have to'.

Evelyn said...

it is hard Gill, our expenses have gone up but our wages stay the same. Taking on debt is how we manage. I see our two sons struggling to be independent on 14 dollars an hour (oldest) and work full time and pay for university as he couldn't get a loan (youngest). Not much hope things will change for them. all around me couples take vacations, buy toys like 4 wheelers, live in lavish homes and drive nice cars. It is a mystery how they do it.

Maggie said...

Anyone would be mad not to save for christmas now, it's such an expensive time. I've used cash for food shopping for a few years now and find it much better, whatever is left over each week i put into a pot, last year I had just over £400. I put £60 in my purse each Friday for food, I think $100 is roughly the same. Food is getting more expensive everywhere i think, there is only me at home in the week and some weeks i can get through all my food money. Our Birthdays are fairly spread out so i usually put something away in the months leading up to that particular birthday.

Jenn Jilks said...

This is a lovely plan. All the experts say to do this.
I admire the people with little who get up everyday and slog through on an hourly wage.

Winifred said...

I tend to leave money (pension) which goes in the bank now & have to say I rarely go to the bank. It's a common trend as so many local banks are closing in the UK making it difficult for elderly or infirm people. They're trying to get us to use Internet banking. If I need cash I just get cashback from the local supermarket and I never keep cash in the house.

I rarely go to towns to shop so am not spending too much on clothes I really don't need. I'm spending less on petrol as hardly any running about collecting grandchildren from school. Prices are rocketing despite the statistics the government give out about the low cost of living increases. Have no idea where they get them from & no doubt things will get worse when we leave the EU.
I do tend to spend on sewing now, fabrics & bits & pieces but usually wait until there are sales. Also I'm still using my lovely 53 year old Singer sewing machine & rather than buy a new lightweight plastic sewing machine to take to classes I bought a lovely little 3/4 size vintage Frister & Rossman machine for about £25 from a hospice charity.

I'm a child of WW11 so grew up in an era of austerity but never felt I was deprived of anything. I've always been one to mend things when I can, the planet can't take our throwaway style of living any longer.

I enjoy reading your posts Gill as they are so realistic & helpful. Thanks for taking the time to share your ideas and activities.

Chris said...

I just go to the bank machine once a month (or less) but I have to say most of my purchases go on my credit card for points which I use for groceries. It's amazing how quickly they mount up. I pay off the balance the balance on the credit card at the end of each month and, at that point, any money left over (minus a "float" for emergencies) goes into a (very low interest) savings account. This seems to work for me.

William Kendall said...

My expenses aren't much- rent, insurance, hydro- so I bank most of my pay. Which was a good thing, as I recently went through a fire that forced me out of my previous residence. I was so glad to have a cushion of money to fall back on.

Rose said...

I have did something similar for years...in ways. We have money taken out and into an account for the big yearly/semi yearly insurance bills on homeowners and auto...then I also take out so much monthly for birthdays and Christmas. I leave it in the bank, but it is held in reserve so to speak.

Karen said...

It is indeed difficult to live on pension income anymore. We do manage to save a bit though.

~Carla~ said...

I *always* worry about money, especially in the future, I see such massive numbers that we’re “supposed” to have saved for retirement and there is no way in God’s green earth that we’ll ever be able to save like that. Thankfully Ed has a pension at work and he’s been there for 25 years now. I’m currently paying tuition for my 2nd oldest, often have to help my oldest as we works barely above min wage with NO healthcare/dental benefits either. I just put out $1600 for his dental work and paid the 2nd installment of tuition for January as well. Merry Christmas to me... *eek* It’s tough to be sure, just gotta keep plugging away...

Hotel Stay - Dinner

As part of our hotel stay the kids had booked us dinner, breakfast and afternoon tea. Here is what we ate at dinner.  Everything was spot on...