Monthly devotions to the calculator

The financial month is coming to an end, or as we all know it, the week before payday. It’s time to get out the calculator and look at bills and finances. I’ve been busily not shopping, not putting the heating on, not buying anything and not spending any money. This time, each month, I log onto all of my internet banking sites, my 0% credit card site and check that the balances have gone down. After I’ve checked all of the bills, I go back to my bank account and ’round off’ anything left over. So, a balance of 3873.29, then becomes a balance of 3970.00. When I’ve finally done rounding everything off, what ever is left gets ’rounded down’ to add to my savings account. I usually add around £10 a month extra to my savings account.

I use my savings account to pay for car tax, tyres, servicing and all home related costs. It does mean that I leave myself hardly anything spare at all but I have the huge sense of relief that everything is paid for! I know I have to pay almost £150 a year for car servicing, so £15 of each month’s savings has to go towards that. I know I need about £100 a year for clothes and shoes, so I make sure £10 a month goes into the savings account for that. It all seems a bit pathetic really, it doesn’t seem very much. It might seem really ridiculous after a day at work, to sit and shuffle pennies in one direction or the other. I promise, I’m not turning into Silas Marner! I actually like to end the month with no money left in my main bank account and know I’ve reduced debt and given myself some peace of mind.


Thanks all 2000 of you who clicked ‘Frugal Queen’ yesterday, who became a follower, or who kindly left a comment. I always look forward to hearing from you all.

Until tomorrow,

Froogs xxxx

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10 thoughts on “Monthly devotions to the calculator

  1. I also have a savings account for the big things – but I find it really hurts to take the money out even though that is what it is for. I use Microsoft Money and that really helps because I can download statements and keep track that way. I enter everything as I spend it and I can see when I have to transfer money between accounts to make sure I don't go overdrawn. They haven't updated it for the UK for years but it still works and you could probably get a cheap copy on ebay. It's really good for doing all sorts of projections

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  2. One of the things I do, after allocating money for all the bills, savings and things in the budget, is put anything that is left over in the savings, too. Allocating every last penny, even though we sometimes have to juggle a bit later in the month, has meant that we have put much more in savings during the last year.

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  3. ..and this is how you reduce your debt; by paying it off and not acquiring ¨stuff¨ on credit. Right now we are saving for a small wood heater for our straw bale home. We refuse to borrow money for it so as we slide into winter down here in Australia, we simply put a jumper on at night and we are actually more than comfortable.

    I guess we have to ask ourselves, do we really need a heater? Although the wood heater that we are interested in also doubles as an oven. Heating and cooking from the one source? Yes please!

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  4. had a little chuckle over your “monthly devotions” title…well said. Keep up the good work with your savings; the payoff will hopefully land you somewhere short of Silas Marner but in financial security land!

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  5. Out of interest is there a reason you pay to get the car serviced?

    Even on newer models a basic service is something almost anyone could do themselves, and even a full service can be done by any one vaguely competant with the desire to do it.

    Seeing as DB has been able to mend the vaccuum amongst other things, I'm sure he would be capable, but to be honest so would you.

    The basic service will be changing a few filters and the oil and topping up liquids. The may also check the brakes and battery. The only one of these that is a bit more difficult is the brakes but even then it's not challenging when you know the basics.

    The oil change is worst because it involves working around a hot engine normally in tight spaces so you get a few cuts and burns from time to time but £150 a year for what is normally an hours work? It's worth thinking about.

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  6. I do something similar in that all the roundings from DH and my wages plus child benefit go into one account and then this is used to fund the boys big educational trips at school.
    DS1 went to Belguim on a WW1 history trip last May(approx £250) totally funded from roundings, and we have a nice kitty building ready for DS2 to do the same trip next May.

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  7. Oh no – doesn't sound strange at all to me! We have our main account, then the car account, household account (that one is still quite new and therefore exciting!) our holiday account, my tax account (I'm self employed and need to keep track of my tax & NI contributions as I go along else it will end up in an awful muddle!)and finally our “virtual sealed pot” account. Each time I go into my online banking (which happens a few times a week usually) any odd pennies from either the joint, or my own, bank account get transported across to there, and then on a friday I round those accounts to down the nearest £5 too…..I've been doing this since the beginning of December and now have £126 in there – it's amazing how it mounts up! It's like a whole series of “virtual piggy banks” though!

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  8. hi froogs, I have beeb following your blog for about a month now its very inspirational. I am about to embark on an exercise regime myself so appreciate all you are doing in your exercise regime. I also take hints and tips from your posts about saving, and recepies etc.

    Take care
    Mariet

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