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I'm cutting back on the amount of time I use the car with increases in car tax road insurance and petrol Its now costing me an extra £450 a year to run my car
Inview of this I've bought a bike and intend to cycle to/from work 4 times a week
I've stopped buying frivolous things unless I really need them. Craft budget has been slashed, and most months I don't get anything. I'm shopping my stash instead. Food is bought strictly to a list and menu plan, and there's fewer impulse buys and treats.
Can't do much about petrol use, hubby works 40 miles away, but he's applied for a couple of jobs in our town on similar wage, so effectively £200 a month better off if he gets one.
I got a loan from work a few months back, I was still on shorter hours, had been off sick for 6 weeks, car needed taxing, and a new tyre, then both kids needed new school shoes, all in the same week. I had literally £3 to get food for a week. Luckily for me, work give interest free loans, deducted from wages, so I asked for one. Finish paying it back next week, sothe money from that will be going into the savings account.
Single person household so it's not hitting me so much. Cycling to work is not an option as I would be too scared to tackle one of the roads - narrow country lane used as rat run by BMW's & 4x4s doing silly speeds.
I have started to think about planning food for the week ahead and there has been less waste. I make lunch instead of 'forgetting' so having to go to Tesco for a sandwich and ending up spending £10.
Luckily none of my kit needs replacing and I've bought a bike through Cyclescheme at work so interest free loan on it and I save the tax and NI - about 50%
I still manage my trips away but not quite as many as the last couple of years. I've just bought a tent so should save on the B&B costs sometime. I know I'll be a fairweather camper though but even a couple of nights and the tent will have paid its way.
Cutting back on the treats and clothes shopping impulse buys. Presents maybe not quite as generous as they once were and I've certainly not give as much in donations to people's charity exploits as in previous years.
I'm also lucky in that I've still had a pay increase these last couple of years. Maybe not as big as it would have been but 2% is still worth having and I certainly wouldn't complain as I wasn't expecting anything.
I don't have a car and I don't take foreign holidays. Nor do I drink (hardly ever) so already live a pretty economical lifestyle. Pay has decreased in real terms the last two years and I've also lost out on overtime so income is lower now than it was.
On the plus side, I'm one of those annoying people with a really low tracker mortgage and since the interest rate crash I've been some £400 a month better off because of it. So can't complain overall.
Salary has stayed the same, Car Insurance has stayed the same, Very annoying tracker mortgage ()
What recession ?
I paid off my divorce so the only thing I am cutting back is the overtime hours.
I only buy things I really need. Food wise it's a struggle as having 4 kids and always running out of things like milk and fruit, you go to tesco and remember you've run out of x more other items and end up spending more in the end. Running wise, I've only bought clothes that are cheap, still techno stuff but not branded from startfitness, they do decent cheap stuff and then I'll wear it till it drops off. Have enlisted for races but cutting out smaller ones and going to do HM or similar in distance which I found are often the same price as 10k. Would do races about 25 miles away, it also takes petrol to get there. Haven't bought any clothes for kids for about 2 years due to friends and their children's hand me downs.
Otherwise it's just careful planning. I've finally realised I don't need this huuuge order from Tesco before Christmas, last year we were still eating crisps and snacks I bought for Christmas well into March. Big occassions like this and family birthdays have become smaller too. You just have to adjust and learn to budget.
I have cancelled my RW subscription and gym membership. We have also cancelled our ironing lady
We too are shopping to meal planners and are buying more supermarket own brand stuff.
I've also bulk bought my running shoes for this year and most of next
Found a buy one get 50% off offer on the web and haven't bought any new kit this year apart from socks waiting for Aldi sale
i'm not suffering from the recession per se as i am usually quite good at budgetting
however a 3.5k paycut from changing jobs (for long-term progression) and extra money on the commute has meant i need to be much more careful
I am on my lowest (paid) income by for 5 years its actually less than half of what I was earning in 2005. my essential outgoings are much higher since I am covering the costs of running a house 'technically' as the owner instead of a rented property where some things are included in the rent. I have become a grocery tart - I have easy trips to three major supermarkets and just pop in to see who is selling what cheapest and take the time to shop around - I use local shops as well when they are cheaper. I have halved my food bill and eat very well. I drink very little and eat very little crap so basically the hard time are doing me the world of good. I cycle to work saving the bus fair. I am currently building the utilities up as they are on a prepayment meter after a spell out of work meant a huge bill I couldn't pay. I don't have Cable or Sky TV and at the moment no phone line though I hope to sort hat this month but it will be just the phone line and broad band - as a temp internet connection is very useful for job hunting and the local web cafe is crap.
I struggle tohave a life but as I continue to adapt that is also becoming possible though any big races are a no no I can't afford them.
I am overall better off with little money than loads much healthier and stronger in character - there are positives to everything and lesons to learn
My cut backs haven't been recession driven, as we are both still working and the mortgage rate is so low, but since my daughter was born 2 years ago we have both give up our gym memberships (we don't get the time to go now), our footie season tickets (ditto), and the loan on my car was paid off in March. All in all, we are about £700 a month less in spend on these (including mortgage), which pays for nursery fees and me cutting down to a 4 day week.
If things got bad, the Sky package could go (we have everything - HD multiroom, movies, sport and ESPN- costs nearly £80pm), I could economise on food and we could share a car, but it's not an issue at the moment.
Been told today I've been drafted onto a project team looking at reducing the workforce by around 25% from a total of 7,000
Part of our brief was to accept we would have no friends and that people would be pointing fingers and saying things like Why Me
The future is bright and I will be checking the brakes on my bike every day
I have had to cut the butler's wages down to 50p a week and the nanny has had her clothing allowance cut because for some reason Mr LB prefers her without clothes....
I find I prefer Fortnum's biscuits but Duchy's will do in an emergency....