My favourite saving challenges for 2020.

Hello and welcome back to my blog!

In this blog post I will be sharing 5 of my favourite saving challenges 4 of which I have done or I am still completing.

There are so many saving challenges out there that you can do to save money.

Saving challenges are a great way to start your savings journey. If you are new to saving or paying of huge amounts of debt but want to have some savings then hopefully at least one of these challenges will help you get started.

! Quick disclaimer I did not create any of these challenges I have credited where I found the challenges and creators!

1p challenge

The 1p challenge is a great place to start. In 365 days you can save £667.95!

You save 1p for every day you do this challenge for example day 1 you put away 1p, day 2 you put away 2p and so on for 365 days.

I found this tracker online which shows you how much to put away each day.

Above is the tracker that I use, this tracker is great for adding amounts weekly, it is from The Skint Dad Blog please check out his page to download all his trackers.

I started this challenge last year when I was new to savings and I love it, I have nearly £400 saved and I don’t miss this money. The only downside to this challenge is that it takes 1 year to reach your goal. But if you are paying off debt this is a great place to start.

A lot of people do this challenge to save for holidays and Christmas.

20p Challenge

I love this challenge! I am doing this challenge at the moment I love it.

This one doesn’t take as long as the 1p challenge, in just 31 days you can save £99.20!

It’s the same principle as the 1p challenge every day you put 20p away. So day 1 you put away 20p, day 2 you put away 40p and so on.

This is a picture I found online however I have made my own version as I started this challenge on 19th May 2020.

I have over £20 saved already. I will continue this challenge for the rest of the year. I should have over £600 saved by the end of the year which I will save for the fees of moving next year.

Lottiebudgets Money Monday

This challenge comes from Instagram and from a lovely lady’s page called @lottiebudgets. This challenge is by far my favourite and I am on my second run of this challenge.

Every Monday tick of a box with different amounts of money you have saved.

There are two versions of this challenge:

Money Monday Save £450 in 21 weeks I have already done this challenge once and I am on week 3 of round 2!

LottieBudgets Money Monday Quarterly Challenge

Money Monday Quarterly Challenge Save £500 in 13 weeks. I haven’t done this challenge but I would like to do this challenge at the end of the year.

Head over to @lottiebudgets instagram page to download her money Monday trackers and please give her a follow her page is full of saving motivation!

Doing this challenge makes Monday my new favourite day of the week. Fiver savings challenge

I found this fiver savings challenge on the website and it looks amazing. Each week you put some money away, the amount you put away will increase by £5 each week for 52 weeks and at the end you should have saved £6,890 which is an huge amount of money!

Week 1 you put away £5, week 2 you put away £10 and so on.

I haven’t done this challenge but it’s one I’m going to consider for next year. Check out the tracker below, download it to your phone and get started.

I hope these challenges will give you some inspiration to start saving. They are fun, easy to do and will increase your savings.

Make sure to follow my twitter and Instagram account for updates on my savings journey and the tips and tricks I have learned along the way.

Hannah xx

Welcome back to my blog!

Hello and welcome back to my blog.

You may have found me from my Instagram page budgetwithme1 . On my Instagram page I share daily savings updates, money saving tips, meal prep tips and much more. So please check out my page.

I haven’t posted on here in a while and its because life has got in the way, however I’m back and I am determined to write a blog post at least once a week.

If you are new to my blog then hello to you! On this blog I am going to be sharing money saving tips that I have learnt over the last 2 years, and my savings journey.

On this post I will be talking about 2019 and how this was my year!

A bit of an update:

I feel I should give a little bit of an update as I haven’t posted since may last year! 2019 was an amazing year for me, my savings were increasing every month and I loved every minute. And towards the end of 2019 I was also in the Sunday Times Money Mentor to celebrate my saving success. (you can read my story by clicking on the link above)

What went well in 2019?

2019 had its ups and downs for me financially. I learn’t so much about myself and how I was wasting money every month. So lets start with the positives;

  1. I was able to save £5,588.92 towards my house deposit
  2. I created saving pots with Monzo
  3. I learn’t more about my spending habits
  4. I cut many bills (saving a lot of money!)

Saving £5,588.92 last year was an amazing achievement, it made me realise that i can save money if I put my mind to it and work hard. I saved this money but not eating out as much, planing in advance for days out, holidays etc and completing paid online surveys every week. On average I was making £80 a month answering questions on a variety of survey apps.

I also cancelled many of the unused subscriptions that I hadn’t used in so long this saved me £100’s! Which allowed me to save more money in the long run. My biggest expense was my PlayStation 4 online access which I never used, this was costing me on average £30 a month, for something I never used.

Over all 2019 was successful however there were some fails….

What didn’t go well in 2019?

In 2019 I saved £5,588.92 towards my house deposit and this was a huge success for me. My original goal was to save £10,000 towards a house deposit however things didn’t go to plan. From car repairs, to buying new glasses the beginning of 2019 was an expensive one that I was not prepared for.

The worst thing was I didn’t have any emergency funds set up in May 2019 which meant I had to use my savings for my house deposit to pay for a lot of expenses. This set me back by nearly £1,000 which was very disheartening, I would have lost motivation if it wasn’t for the amazing community that I have found on Instagram.

I also had some family issues which meant emotional spending on food, clothes and items that I didn’t really need. I remember spending £80 on clothes that i didn’t really need nor did I wear most of them!

Have I learn’t from my mistakes in 2019?

I have learn’t that I do need emergency funds, I need to save more money for lives unexpected expenses such as car repairs and new glasses! That way I wont have to touch my house deposit savings. Since May last year I have learn’t that I need to have more self control over my spending and really think about how much I am spending and if I really need the items I am buying.

Overall I have realised that even though I made many mistakes 2019 was also a fantastic year of learning. I learnt how to save for different social events throughout the year, how to save money for Christmas, and how to meal prep like a Queen!

Thank you so much for reading this blog, my next post will be all about my 2020 goals and how I am going to achive them.

Speak to you all soon.

Hannah xx

Living On A Budget – Shopping for Yellow Labels

Hello and welcome back to my blog!

In this post I will be talking about one of my favourite things to buy and that is yellow label reductions!

So if you want to know ways in which you can bring down the price of you monthly shopping bill by shopping around more for these amazing reductions, then keep reading. As I explain all.

What are yellow label reductions?

A yellow label reduction is simply food that has been reduced down in price, this food can be near its use by or sell by date, and also stock that is being delisted. There is nothing wrong with this food as such; it just means that the supermarkets are not allowed to sale out of date products.

Before I started my frugal lifestyle I very rarely bought food that was reduced in price or on that date because I always worried that the food would magically go off and would be inedible. But that is not the case! Keep reading as I give you tips and where to get these reductions

Best shops for yellow label reductions:

All supermarkets will reduce their on the date food, sometimes the reductions are not worth buying as it is less than 20%. But other times the stores reduce their items down by 25%, 50% or even 75% off the original price. I once saw 25 chickens being reduced by 75% because that store over ordered and they needed to get rid of them, I bought 4 chickens and put them in my freezer. This cost me less than £5!

However, I do have my top 3 supermarkets that I often visit because of their reductions. In all 3 of these shops I have seen a variety of food reduced down by a maximum of 75%. Their reductions are even better if they have stock that is being delisted (not being sold any more), as they need to get rid of this to make room for the new stock. So shop around, go to the end of aisle and reduction bays as you can find some great finds.

And here are my top 3 favourite stores for yellow label reductions!

  • Co-op
  • ASDA
  • Sainsbury’s

Remember to take the time to look for your amazing bargains!

 ‘DISCLAIMER’ you may not find anything whilst looking for reductions. It depends on what the store has going out of stock or date. So don’t be disheartened, keep looking!

What is the best time to shop for reductions?

Many supermarkets have different times of the day that they reduce their food down by.

For example if someone is reducing a chicken that is dated the next day, they may reduce it by 25%. But if someone is reducing a chicken down that runs out of date on that day, they may reduce it down by 50%-75%. It depends entirely on that store.

But I recommend shopping from Midday onwards; there are also some amazing late night reductions before 9pm. This is the time that most stores start to remove the out of date stock, so they reduce it down to as low as possible. I was once in ASDA at around 9pm and they were reducing their bread down to 15p per loaf! That’s nothing!

Check out this article by the Sun as they give a very detailed explanation about each stores reduction times etc.

What are the best things to buy with a yellow label on?

It may be tempting to buy everything with a yellow label on, but you need to think logically. There is no point buying 5 tubs of nearly out of date cream if you’re not going to use it.

So I recommend buying anything that you can cook a few meals with, also anything that you can use over the next few days.

My family’s rule of thumb is if you see any meat reduced buy it! It has helped us save so much money by shopping this way. You can buy mince meat, chicken, steak and much more that can be put into the freezer for up to a month after the use by date. Bulk buying reduced meat is a great way to save money as meat can be expensive. But only buy what you need, plan your week / month to see what you actually need.

You can also buy fresh fruit and vegetables but they need to eaten within at least 3 days maximum of 4! I often buy bags of potatoes and other vegetables so that I can still prepare nutritious meals even on a budget.

I bought this fruit on sale! It only cost me £2.50!

Should I be worried about eating the food after the best before or use by dates?

There is no right way to answer this; there are many reports online that talk about how it is okay to eat food that is after its use by date. Have a quick read of this article by the Telegraph, as they explain why it is okay to eat food after the use by dates.

And there are reports that say it isn’t best to eat food after its use by date. Such as this NHS article, this article explains perhaps why you shouldn’t eat food after its use by or sale by date.

I have been buying yellow label reductions and eating food up to 5 days after it has passed its shelf life and I can honestly say it has never affected me. You just need to use your senses. If it doesn’t look nice, smells bad and doesn’t fell right then don’t eat it. If you bought a cheap pint of milk that is curdling do not drink it! Use your judgment, especially when it comes to fresh fruit and vegetables. Be sensible, a cucumber that you bought 4 days ago isn’t going to be that fresh.

I hope that this post has made you more willing to buy food that isn’t at its best. We waste so much food in the UK because of the scary use by date, but buy living more frugally we can change this. Not only does it help the environment it is also going to help you save money.

What is the best item you bought that had a yellow label?

Make sure you follow me on social media, I post money saving tips, meal prep idea and so much more.