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Grocery costs
2007-12-27 23:06:00
We currently allow £200 a month for grocery. The prices have gone up so much lately it's getting more and more difficult to keep within budget. To help keep within costs one of my non financial goals in 2008 will be to learn how to cook more from scratch . I can cook now but not well enough. I would love to be able to do more vegetarian meals but I haven't a clue where to start.I obviously don't want to pay for any lessons so I plan to borrow cook books from the library and teach myself. The Money Saving Expert Old Style Forum threads are also a good source of recipes.
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2008 Budget
2007-12-23 15:30:00
The work on the 2008 budget is now complete. This is just the budget for the joint bills account. It doesn't include expenses for petrol, clothes, or school, these we take care of separately.We need to remortgage in July so we will have to adjust the payment for that then as I suspect it will be at least £100 more per month.We plan to do the same in 2008 as in 2007, that all our meals out and dvd rental's are paid for with Tesco Clubcard Deals.We've emptied the Sharebuilder and ISA accounts to ensure that we paid for our wedding outright so we are starting the year with a clean slate.The main financial goal for 2008 is to have a mortgage balance of less than £118,400.
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Fuel Prices
2007-11-23 07:51:00
To save money on the cost of diesel I use www.petrolprices.com. This site gives you the price of fuel in your area of the country.If I search my postcode it brings up 69 petrol stations within a ten mile radius of my home. The cost of diesel between these stations is 101.9p - 109.9p. When I log in it gives me the five cheapest within a five mile radius. The prices of diesel in these five stations ranges from 103.9p-105.9p. Now if I search the postcode within my work area I get prices as low as 99.9p per litre.If I fill my tank it takes about 50 litres of fuel. Now if I bought at a price of 109.9p per litre it would cost me £54.95 to fill up. At a price of 99.9p it would cost me £49.95.Filling my tank up when I'm in my work area saves me about £8 per month on fuel costs. It's worth making sure you don't get caught paying the top price for diesel/petrol as it could cost you up to an extra £5 per tank! The difference between 109.9p and 99.9p per litre.
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More on Utility Bills
2007-11-21 21:08:00
I'm currently trying to work out how many Electric/Gas units we are using per week. I've taken meter reading's on Tuesday night and will report back next week on the amounts.We have a dual fuel supply through British Gas which gives us a saving of £2.78 per quarter and we also receive a Direct Debit discount of £9.82 per quarter. The charges for gas are quite confusing, however I will endeavour to get my head round them by next week!We are trying to reduce costs by switching off lights and tv's and we've reduced the amount of time the heating is on. Extra jumper's are being worn.
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Plan to reduce Utility costs
2007-11-19 08:05:00
To reduce Gas and Electric costs:Review latest billsCheck meter readingsCheck pricesCheck type of supplyAction plan to reduce costsWe already have paperless billing and pay by Direct Debit which reduces the cost slightly, however there are lots of other things we can do to reduce the costs.Ten Simple ways to save from the British Gas website1.Switch off any unused lights and youcould save around £27 a year2.Boil the amount of water you need forone cup rather than a full kettle and you could save around £25 a year3.Turn your TV and accessories off standby and you could save around £39 ayear4.Turn your thermostat down 1 degree and you could save around £40a year5.Set your heating to turn off before you leave the house and gooff 30 minutes before you go to bed and you could save £16 a year6.Draught proof your windows and doors and you could save around £20 a year7.Putting silver foil behind radiators to reflect the heat back intoyour room could save you £13 a year8.Make sure your dishw...
More About: Reduce , Utility , Plan , Costs

Utility expenses
2007-11-18 22:01:00
It may be time to take at look at out utility suppliers again. If I'm perfectly honest since we moved in 18 months ago we've not paid much attention to the bills. We were paying a set amount every month that seemed reasonable compared to our previous house and with all the renovating never got round to checking if we have the cheapest suppliers. This month however the Gas and Electric direct debit amounts have been increased and we've had the largest telephone/Internet bill, £172 for three months, that we've ever had.This week's task will be to check USwitch and Money Saving Expert to find cheaper supplier's. I feel a bit silly that I've left it so long before checking. It's important to remember after that first rush of frugality/money saving that you revisit everything at regular intervals.
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Sunday paper article
2007-10-21 22:29:00
An article from The Times online todayClear your mortgage 10 years early.
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Treats
2007-10-16 08:47:00
We see living frugally as a means to achieving our goals not as a way of sacrifice. We use our money for ways that make or will make us happy.We both love travel so even though we are on a strict budget we still allow ourselves a travel budget. Bf loves golf, so every year his golf fees of £500 come out of his annual bonus. He tries to play at least once a week to get value for money. I love buying books and magazines. I could spend hours in book stores however I generally buy books from Amazon and get my magazines on subscription as this is much cheaper.Every now and then I'd like to have a good spending blow out but I don't, bf keeps me on the straight and narrow. Working together towards the same goal is what keeps us going.
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October Net Worth
2007-10-07 09:10:00
October's net worth has increased by £523. It's slow progress at the moment and we can't wait for the New Year when the £600 over payments start.
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Reducing your outgoings
2007-09-30 08:23:00
Over the last couple of years we've taken a serious look at our outgoings and been amazed at how we were wasting money. We discovered the Money Saving Expert site and since then have been on a journey to save money. The forums on this site can help you to reduce your cost's in every area. The site is about cutting bills, not cutting back. It's free to use and sends you a weekly free tips email. Saving money on bills gives you money to spend on thing's that make you happy.We've reduced our annual costs for insurances, home and contents, telephone, Internet, grocery, eating out, clothes shopping in fact just about every area of expenditure. We've learnt about using coupons, using cash back sites for purchases, utilizing Tesco club card deals, the list is endless and it's an ongoing process.Just for reading purposes there is also an article in The Sunday Times online today on how they saved a family over £4,700 in a few hours.
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All quiet....
2007-09-27 10:50:00
It's all very quiet on the overpayment front at the moment due to wedding cost's, all our spare money is going towards them. We are 100% determined that everything gets paid for in cash and that we carry no debt over into the new year from it.We are however continuing to save loose change into our mortgage piggy bank, save £50 a month into my ISA and buying £100 of shares per month in our share builder account.We've also listed all bf's old cd's on Amazon and have made over £70 in the last three months.The October mortgage payment comes out this weekend, leaving a balance on the account of £134,362.
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Price book
2007-09-22 23:18:00
I use a Price Book when shopping which is the main money saving tip I took from The Tightwad Gazette by Amy Dacyczyn. This book is my favourite ever book about frugal living and I would recommend it to any one starting out on a frugal journey. Some of the ideas in the book are far out, others are very usable.It took me about two months to build up a good price book and since then I've updated it several times. Once you've done the basics it becomes very easy to keep track of and it will save you hundreds of pounds. I keep a note of the price per kilogram of some items and the price per unit of others. If an item that I use is a low price I bulk buy.
More About: Frugal

Portugal....
2007-09-19 08:39:00
If you want to look at fabulous things to do and eat in Portugal then check out the site run by Eddie and Moses, Algarve Buzz. Beautiful photography and mouth watering food.

Having a Goal
2007-09-16 14:40:00
I found a great post by Jim at Blueprint for Financial Prosperity it's about Having a Goal Helps you to Be Frugal .It's certainly true, moving to Portugal is like having a giant carrot hanging right in front of our noses.
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Balance Sheet Update - September 2007
2007-09-15 09:26:00
Our net worth has increased by £530 this month, not as much as we would like but we still have lots of wedding expenses to pay. At least it has increased. We are now 13.6% on our way to the 2012 net worth target of £400,000, an increase of 0.13%.I'm using Google Spreadsheets to publish the sheet and I've not quite done it right as August sheet has changed to the same as September 's! Something to work on before the October update.
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Buying in Portugal
2007-09-14 11:05:00
There are lots of articles, books and guides to buying a property in Portugal . However as well as reading all we can we would like to speak to as many people who have actually done it as possible.I don't think buying any property should be entered into lightly or done without research and more research, so if you are buying in a different country then you need to be even more aware of the process and the pitfalls.After reading this article featured on MSN I was surprised to see that if you are a Portuguese resident then you are liable to up to 40% tax on any income received from rental property in Portugal. I say surprised because this is something that we had missed in all our readings so far!You would be considered a resident if you spent over 183 days a year living there.As owning rentals properties in the UK and in Portugal is part of our goal, we now need to do more research about the tax implications.
More About: Buying , Property , Goals

Car Boot Sale
2007-09-09 13:56:00
Today I've spent the morning gathering all my stuff together for a car boot I'm doing on the 23rd. I'm doing it with a work colleague so as to save half the entrance fee. (please let it not rain)We usually do one car boot a year however this will probably be my last. We no longer buy anything we don't need, and we have a use it up or wear it out policy on everything so there will be nothing to sell!Everything that won't Ebay or Amazon I car boot, I'm not expecting to make alot just £30-£40 if I'm lucky.
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Renovation
2007-09-07 16:46:00
At the moment my plan is to renovate another property in two years time. I love doing it, although it's hard work. It's not just the manual labour it's the sourcing of all things you need and finding them at the right price.I found this new Victorian fireplace on the Internet for less than £400. We then paid £170 to have it fitted. A full £1000 cheaper than the cost of two local fireplace showrooms!All our paint we bought at trade price through a friend, the kitchen we got from a local showroom for half price and then an extra 10% off. Just about everything we bought new was in a sale, price reduced or off the Internet.We still have a few jobs to complete, a new back door to the garden and the chimney re stacking and we have budgeted an amount for this over the next 2 years. We will then obviously have the cost of repainting and general repairs before we come to sell in 2012.
More About: Property , Renovation

Mortgage Payments
2007-09-05 07:34:00
September 1st saw another mortgage payment of £804. This pays £250 from the principle and £554 in interest. We start with £600 over payments after Christmas so at least that will pay the interest every month and our whole normal payment will be clearing the principle.The mortgage will be below £134,000 at the end of the year, with the goal of being below £119,000 at the end of 2008.Targets at the end of the next 5 years:2007 - £134,0002008 - £119,0002009 - £90,0002010 - £62,0002011 - £30,0002012 - £0.00
More About: Goals , Mortgage , Mort

Not Buying It - Being a frugalite
2007-09-02 09:32:00
Over the next 5 years we have no plans to purchase any new items for our house. What we have now needs to last us. This means that the sofa that is balanced on books at one end needs to stay balanced on books! The old pine table that I've had for over fifteen years and is covered in marks from the kids scribbles is staying too.There are a few items that I would like for the house but they are want not a need so we won't be buying them. Becoming frugal has taken away the need to 'keep up with the Jones'. I'm going to take more pleasure in looking after what we have than I would from just going out and buying a new one. We have adopted a wear it out before replacing it policy.Bf and I have devised a cleaning/maintaining schedule for our house. As it was newly renovated last year it will pay to keep everything looking great for when we come to sell it in five years.
More About: Buying

Increasing our income
2007-09-01 07:45:00
We need to be very frugal in our day to day life to achieve our dream, however we don't want to stop living for the next five years.We do a simple thing to earn extra money every month (£50+) we use Tesco for all our petrol and for approximately half of our shopping costs. We maximise our clubcard points to earn money off vouchers which we then turn into deals tokens.£1 = 1 point = £4 of deals£10 = 1000 points = £40 of Tesco deals when converted on line or by post.Some ways to maximise your points:Register with Tesco and sign up your clubcard number.Join the Healthy Living and Food Club for free. These clubs send you extra points vouchersGet a Tesco Clubcard Credit Card. 0% on Tesco purchases for 12 months and extra clubcard points. (We use for all our petrol) Get extra points at the checkout by re using your carrier bags (also better for the enviroment)Shop online and use extra point codes.We get on average £40 every 3 months in money off vouchers. We then turn them into deals tok...
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Living Frugally - Saving money on grocery
2007-08-30 12:57:00
Below is a list of the things I do to reduce the monthly grocery bill. I currently spend between £180 and £200 a month for five of us.? Menu Plan -Payday to payday (adjust accordingly if you need to)? BOGOF's - Buy one get one free - Take advantage of all the offers that you can by visiting as many supermarkets as you can.? Go to a market just before they close up - They practically give the fruit/veg away. Morrison?s, Lidl cheap also? Visit your local supermarket when they reduce (yellow sticker) the meat/bread etc? Coupons - Cut them all out, Tesco will accept them even if not buying the product? Own Brands - Buy supermarket own brands? Only use one wash tablet in your wash - you don't need two and use white vinegar as a fabric conditioner. Half yourdishwasher tablets.? Cut down on cleaning products ? I use 3 things Stardrops, bleach and vinegar. Also use microfibre cloths for all cleaning, they last ages and you just wash them and reuse? Bulk buy if you know a product is cheap....
More About: Living , Money , Saving , Grocery , Ally

Balance Sheet for Portugal - August 2007
2007-08-29 10:52:00
This is the balance sheet for our move in 2012. This is independent of any other money/debt we have. The idea was to start with nothing but the mortgage debt and work from there.
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Setting our goals
2007-08-29 08:41:00
Bf and I have flirted around the subject of buying in Portugal for a couple of years now. We would go on holiday and look at all the areas trying to decide where to buy a holiday home. This home was to be rented out and used by us a couple of times a year. We would change our mind about what to do every week. We lacked focus.This all changed around May this year. We'd had a particularly busy week at work, we'd been arguing about every little thing because of our general tiredness and on the Sunday afternoon bf came into the kitchen and said 'lets not just buy a holiday home in Portugal lets move out there'! I think my reply went along the lines of 'that's the best thing you've said to me all week' and laughed.We talked about it all the following week, decided that it was what we both wanted and worked out what we needed to do to achieve our dream. We had always planned to overpay the mortgage however not quite to this scale.To achieve goals you need to write them down, peopl...
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Setting our goals
2007-08-29 08:41:00
Bf and I have flirted around the subject of buying in Portugal for a couple of years now. We would go on holiday and look at all the areas trying to decide where to buy a holiday home. This home was to be rented out and used by us a couple of times a year. We would change our mind about what to do every week. We lacked focus.This all changed around May this year. We'd had a particularly busy week at work, we'd been arguing about every little thing because of our general tiredness and on the Sunday afternoon bf came into the kitchen and said 'lets not just buy a holiday home in Portugal lets move out there'! I think my reply went along the lines of 'that's the best thing you've said to me all week' and laughed.We talked about it all the following week, decided that it was what we both wanted and worked out what we needed to do to achieve our dream. We had always planned to overpay the mortgage however not quite to this scale.To achieve goals you need to write them down, peopl...
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Deciding where to live
2007-08-28 09:32:00
We haven't 100% decided where we want to live yet so we intend to give ourselves a travel budget of £1,200 a year for trips out to Portugal .We already know the Albufeira, Vilamoura, and Tavira area's quite well but as we intend to buy further inland we need to explore these areas as well.The next visit which we hope will be in April we will concentrate on all the area's around Loule.
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Deciding where to live
2007-08-28 09:32:00
We haven't 100% decided where we want to live yet so we intend to give ourselves a travel budget of £1,200 a year for trips out to Portugal .We already know the Albufeira, Vilamoura, and Tavira area's quite well but as we intend to buy further inland we need to explore these areas as well.The next visit which we hope will be in April we will concentrate on all the area's around Loule.
More About: Live

Learning Portuguese
2007-08-27 08:12:00
We know that for us to have a better life in Portugal it would be better for at least one of us to speak Portuguese fluently. Now as it might be him that needs to get a job over there we decided that he should be the one to learn it.He started a few weeks ago and is coming along nicely although it is getting harder. We chose a CD and book course so that he's able to listen to the CD while driving to work. There was no evening classes available anywhere that we could find.While he spends a few hours of his spare time learning Portuguese I spend my time meal planning, shopping at every supermarket and batch cooking so that we can keep the grocery shopping bill as low as possible.
More About: Language , Learning , Earning

Learning Portuguese
2007-08-27 08:12:00
We know that for us to have a better life in Portugal it would be better for at least one of us to speak Portuguese fluently. Now as it might be him that needs to get a job over there we decided that he should be the one to learn it.He started a few weeks ago and is coming along nicely although it is getting harder. We chose a CD and book course so that he's able to listen to the CD while driving to work. There was no evening classes available anywhere that we could find.While he spends a few hours of his spare time learning Portuguese I spend my time meal planning, shopping at every supermarket and batch cooking so that we can keep the grocery shopping bill as low as possible.
More About: Language , Learning , Earning

Our house purchase and our mortgage
2007-08-26 16:11:00
We purchased our house in April 2006 for £153,000 with a view to renovating it and selling on. It needed a great deal of work doing which we did mainly ourselves. We spent £13,000 on the renovation but then decided not to sell. This is when we decided that we wanted to quit the rat-race and live in Portugal , our favourite holiday destination.Our current mortgage is just under £135,000 on a 4.94% fixed rate until July 2008 with Abbey. The monthly payments are £805 and we are allowed to overpay by 10% every year.Our house, a three bedroom Victorian detached is currently valued at £185,000 and we want to swap this for a three bedroom villa in the Algarve. Our goal is to have a budget of £200,000- £250,000.
More About: House , Money , Goals , Mortgage