Making a budget & sticking to it| Frugal living

Hi guys, in this video I share my plans with you on how I intend to stick to my food budget and what ever I have left over is going into savings. Mission saving every penny full steam ahead :)
Thanks for watching

[deesmith]

Hi Lizzie, I am a long-time viewer, but seldom comment. I just want to say that I find you to be such a lovely, kindhearted and wholesome person. You know struggles and adversity, but you don’t let it tarnish your positive and gentle nature. You are so deserving of a life without financial stress and I truly believe you will reach your goals. I’m here right beside you xx

[Janet-lh]

I find that setting a food budget and writing down every penny I spend keeps me on track.
Great folder, 10p well spent!

[mschmidt]

Hi Lizzy. I just wanted to thank you for your videos. I just love your attitude and perseverance. It inspires me to keep going with my financial journey. I love watching shows like yours because you and others who are lower income are so much more relatable than the budgetars who have more money to work with. Thanks again!❤

[carolinesymonds]

I personally find budgeters who take out lots of cash for their sinking funds, only to put it back into the bank later very strange. Money should be in the bank earning as much interest as you can get, also not safe to have so much cash lying about in the house. Some budgeters I've watched in the past have thousands in envelopes!! crazy. I do cash envelopes and sinking funds but they are all on debit cards and I track my spending on a spreadsheet so I know how much I have left over in each category. I find it works really well for me.

[amandaneale]

Hi lizzy I started this in February and I've loved it I got a good amount for Xmas already I do it for birthdays, car, hair cuts, household repairs, glasses etc x

[annea]

Well done Lizzy for setting Budget Goals. I have a note book and I portion so much for this and so much for that. I pay my utilities fortnightly and I’m in credits with them, so much for food, savings, incidentals Christmas, insurances Phone and car expenses and I write each item with receipt number in the book and I allow myself $20 AUD each fortnight for me personally to spend as I want. Done it for years and it works for me. Begin slowly and you will find what works for you. Good Luck.

[tricialeone]

I agree that keeping bills coming out of bank account, but using the "envelope system" for variable expenses is a good way to go.

[rena]

I get paid biweekly and started using cash envelopes for groceries and household supplies. I actually use the envelopes from junk mail and keep track of my spending right on the envelope just as you did. I don't Use cash for gas as I have a discount card that takes off so much per gallon but I have a budgeted amount to spend. Since I started the envelope system in February, I've managed to have money leftover at the end of each pay period. That has been put into savings. Good job on setting goals.

[FionaConnelly-qgbl]

I split my monthly grocery budget into weekly cash envelopes. I also do a no spend week at the end of each month, except for bread, milk etc & yes I do savings challenges. It's a lot of fun & I've saved loads in the 2 years I've been following the zero budgeting method. (Every penny accounted for). I started small too, but now have quite a few binders😄

[teresa..]

Great Video Lizzy! I'm like you, I love watching all those money videos and I could feel your excitement 🥰...Ive been using envelopes for years, my food and petrol is same as yours haha😅...I do ones for birthdays, Xmas, car maintenance etc.. dentist and so on...💰💰💰

[irenedombryant]

Wow, you took me back in time Lizzy, my first summer job. Brown envelope, exactly how I was paid, with all the info written on the front.
Might be an idea to use Sellotape around the edges of the envelope to make it a bit stronger.

[sarahjones]

Hi, i dont have much disposable income left at the end of the month but i made my own 'advent calender' i dont know if you have seen them but you get 24 envelopes ive got resealable plastic little bags you number them 1 to 24 and you save that number so 1 =£1 upto 24 that = £24 and it saves £300 x and yes i do do envelope stuffing so i have a plastic wallet for everyone i buy for and put a bit in each month for present, they are quite easy to make if you have a laminater theres plenty of vidoes on youtube x

[cindybroussard]

You can use envelopes for your cash categories.
You could also leave it in the bank and use trackers.

Using trackers is a good idea even if you use cash. Make a page for each category in your nifty little 10p book. 😁.

You do very well! It takes a few years to really hone a cash budget and you will still have to tweak it.

Good luck!

[ericfile]

I think it’s good that you’re watching videos about different methods of budgeting and managing money, but at the same time you also realize that you have to find what works for YOU——maybe it’s binders and envelopes of cash; maybe it’s not, or maybe it’s something in between. And it’s good that you’re starting small so you don’t get frustrated and overwhelmed as you find your way. And you WILL find your own way!!!

As I’ve mentioned before, I’m on a VERY fixed income—-retirement pension—-so I only get paid once a month through direct deposit. I HAVE to stick to a budget and know where my money is going because that money has to last the entire month.

I grew up using checkbook registers my entire adult/working life, so I’m familiar with them and very comfortable with them. I’m also VERY visual, so it helps me to keep track of my money in a checkbook register where I can actually add, subtract, and SEE where my money is going. Plus, they’re FREE from the bank!!! (I’ve tried spreadsheets, but didn’t care for them——old habits die hard; old dog, new tricks, etc. 😂)

The check register is also where I keep track of all my sinking funds since I don’t want to keep all that cash on hand. I pay all my bills online and use the one credit card I have for almost all purchases, though I do budget for and keep some cash on hand in case of eating out with friends, emergency bread and milk runs, Dollar Tree trips, etc.. My credit card is paid off as soon as charges are posted, then subtracted from the appropriate sinking fund in my check register. I’ve always been disciplined with my credit card (though I know that not everybody is) and use it instead of writing checks or using a debit card, so I always know how much I can spend and stick to my budget. My system is a combination/hybrid of very old school, low tech check registers and higher tech online banking that wouldn’t appeal to or work for others, but it’s what works for me.

[jenniem]

have loved you recent helpful posts xxx when i first had to look after myself at 17 (now 48) i got one of those tins that had money slots in the top. i also got paid cash in brown envelopes with you tax and ni written on the outside at this point i got paid weekly, i paid my rent to the council then put what i needed to per week in each slot and what was left was my food and spending money, anything left at the end of each week went in a jar. i still use a very similar method now but monthly pay into the bank, but have several accounts and on payday have standing orders going to each of them to cover insurances, house, car, holidays etc. the day before payday anything left in the main account i move to savings xx

[katharinawalker]

Hello, small steps to start with, and you will not become overwhelmed.

[Cottageinthecountryside]

Hey Lizzie, I can confirm all the binders and challenges are just a gimmick, I got sucked in and over 3 years have spent waaay too much money trying to “save” money! I just use Starling now, earn interest on my pots and the same context x

[NanaMacbudgets_and_saves]

Hi Lizzy. I've been budgeting and cash stuffing since January and really find it helpful. You could watch Budget save grow channel. She's lovely and she has an allotment so might resonate with you. You're an inspiration too 🙂x

[alegna]

You might like to watch NZ Money Karma sometime Lizzie for mega envelope stuffing !

[cynthiavks]

Hey, you! 👋🏻 Me again. Watching you from the kitchen in Minnesota (USA). Iced tea today. Really hot and sunny. For maybe nine months I’ve done a grocery “envelope”. It’s our son’s old billfold. Cash out; receipts in. It’s helping me, but my husband eats outside the home and randomly shops for food he wants. 🤷🏼‍♀️ Bye