Frugal Friday...

 

Kettle Cottage - North Uist

After a busy few months, we've agreed that it is very much time to get our eyes back on the financial ball. While we're not careless with money - we've spent too many years ensuring that our income works hard for us for that - nonetheless it would be fair to say that the past little while HAS been spendy - albeit mostly planned and budgeted, and the unplanned bits were necessary and have been covered by our emergency fund of course - the reason we have it! Even budgeted spends can start to feel a bit much when they all come one after another though and we definitely need to feel that we have a level of financial control back again!

Starting point has been the allocation of funds from a couple of maturing regular saver accounts - and the replenishment of our short term emergency fund. We had also borrowed some money from our Christmas budget pot to pay the deposit for next year's Lundy trip, and that too was replaced. The long term pot had of course covered the costs of our beautiful new front steps, and the balance of the regular saver money  was returned to the ISA where that money came from, leaving us all squared away there too. 

The Old Light - Lundy

We discussed what to do relating to Regular Saver accounts, and have opted to re-open one where the interest rate is still of a level to make it worthwhile - that will be funded from monthly income going forwards. The other one which ended has not had a new one opened as the provider no longer offers the same product or anything similar at a sensible interest rate. Another - in Mr EH's name - matures next month and that will go straight into a holding account to fund a couple of new Regular Savers that will be on the go then. 

Homegrown produce is enabling lower shopping bills at the moment - but of course that will begin to tail off shortly. That said, we won't be needing to purchase garlic, tinned tomatoes or pesto for the near future! The aim with the food account is now to build up a healthy surplus in there ready to cover the extra food costs that come along with Christmas, and we've made a good start there with £50 left over from the September budget, even after taking £100 of the month's budget towards holiday food spending!

White Tailed Eagle - Ronay

On a personal level, another focus has been ensuring that money is claimed back where it is due to us. MrEH is able to reclaim the costs of his newspaper subscription for the copies he didn't get while we were in the Hebrides, and my Delay Repay claim for the late train on the way back from Lundy has also been made. That won't amount to very much - probably £6.25, although I may be fortunate and get paid at the higher level, but it is still money I am entitled to have, so I wasn't planning on missing out!  I will now be setting my sights on replenishing the money in my own short-term savings that I "robbed" when I bought my new camera - I like to have a basic emergency fund of £1000 sitting there and at the moment it is several zeroes short of that level, so the majority of any surplus from my personal funds will be diverted there for the foreseeable. 

Joint account surplus will revert to being sent across to a combination of the "end of month" mortgage overpayment which usually takes the form of clearing down to the next £100 level to leave a tidy figure for end of month, and we will probably send anything spare after that to the Stocks & Shares ISA which forms part of our very long-term financial planning! The drill there is that any money sent to it is there for the long haul, so is sent and effectively forgotten about. More than likely an odd £50 here and there will head into Premium Bonds too, although we're never likely to win the million, we do pick up enough wins here and there - particularly when the holding size is larger - to make them worthwhile. 

Beach Huts - Eastbourne 

We've also been focusing back on the small financial habits - bank accounts which have renewable bonuses have had those bonuses renewed - it makes sense to keep them as up to date as possible to get the maximum benefit should they be discontinued! Checking the banking most days to check everything is in order. We'll be returning to meal planning and shopping from a list, and of course load-shifting our electric use to the most cost effective times on our Octopus Agile tariff - although those seem to be few and far between at the moment! With the costs of fuel for the cars escalating hugely we have been careful to shop around there - with a petrol station near to my work proving to be a good bet at anything up to 10p a litre cheaper than close to home.  In the interest of saving fuel, I’m using a free trial of a supermarket delivery pass to cut down on the cost of getting shopping - and yes, a reminder has been set to cancel it before the end of the trial! Although those are all seemingly small things, over time they do mount up and are relatively low effort to help us keep on an even financial keel, 

Robyn