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Simple money saving ideas?

Discussion in 'Personal' started by eggnchips, Apr 5, 2012.

  1. Yep, that's right, kitty.
    You can pay in £1,000 (in a oner or dribs and drabs - as long as the amount totals £1K over the course of a month) and immediately withdraw it or transfer it the next day. You'll still get your £5 monthly 'reward'.
    We have 3 'reward' accounts with Halifax and Bank of Scotland - one that my salary goes into, one that my husband's salary goes into and a joint account that we transfer his salary into a few days after it's gone into the other account. Sneaky? Yes - but you can't argue with £180 extra cash every year. Faffy? A bit, but it's worth it.
     
  2. That reminds me... I have almost run out! That and bicarb, money saving miracles. Google them and see just how much you can do and how much you can save!
     
  3. Lara mfl 05

    Lara mfl 05 Star commenter

    But some of us here are teachers but not at present in full-time employment -part-timers, retirees and those of us unfortunate enough to be technicaly 'on supply' or at least trying to be. Even in a 'good year' one can be lucky to get into the tax bracket so less than £8,000 a year, thus no way £1,000 a month! And on supply one can never get any income in August, of course.
     
  4. catmother

    catmother Star commenter

    Indeed. Exactly why I said "most teachers",not all.
     
  5. jubilee

    jubilee Star commenter

    I get nowhere near £100 per month in income but I still have an account with Halifax and pick up my £5 per month.
    Mr jubilee's pay (his pension now) goes into our joint account with another bank. I've set up a standing order to transfer £1k per month to my Reward account with the Halifax. I then withdraw cash from the Halifax a/c via an ATM (no branch nearby any more) and at times pay it back into our joint our joint account so that direct debits etc are covered!
    I'm going to get Mr jubilee to open a Halifax a/c in his own name and transfer £1k across early in the month, get his £5 credited then pay money back into our joint account for me to transfre the same £1k on the 24th of the month! That will be £120 in bonus per year, tax-free!
     
  6. If you can be that organised good luck to you!
     
  7. modelmaker

    modelmaker Occasional commenter

    I had a thought today that could save money but it would take a little bit of organisation, and you never know, it might help the local community at the same time.
    I noticed a Tesco van in our close this morning as I waited for the kettle to boil. Another appeared later in the day, as I was alerted to by my dog who's ears are keenly tuned to the sound Tesco vans make.
    Then I thought to myself, an Easter Saturday delivery is going to be the most expensive of the week, probably £6 a time. If these people were organised, they could have shared the delivery. And then I thought further and wondered whether they could agree to split two for one deals?
    Then I wondered whether such a scheme could be extended across the entire village, so the OAP who only needs a few potatoes could take advantage of the lower cost of a large bag and the rest could be shared among other villagers pro-rata.
    Or is that just too sensible to be workable?
     
  8. catmother

    catmother Star commenter

    That sounds very sensible but relies on people being very honest as far as sharing the goods fairly and paying their share of the money straight away to the person whose card has been used.
     
  9. modelmaker

    modelmaker Occasional commenter

    It wouldn't be that difficult to overcome. The person placing the order could ask for payment in advance before the order was sent. On a larger-scale co-operative of ordering, a trust could be set up to handle the monies and place the orders.
    And on a larger-scale scheme, there would be less reliance on a single supplier to get the best deals. It could sustain the cost of deliveries from a number of supermarkets if the savings are being made.
    The only problem comes with getting people to organise it. I think it might be possible here, it probably wouldn't have worked in other places I've lived.
     
  10. There was an article about something like that on the Food programme. They called it the community shop. People order in bulk or the community buy in bulk and it gets distributed from a local village hall.
    All part of the Big Society.
    http://www.bbc.co.uk/programmes/b01c6trp#synopsis
     
  11. jubilee

    jubilee Star commenter

    It doesn't require great organisation. A standing order sorts out the £1k transfer each month and then it's just a matter of withdrawing money at ATMs to spend or put back in the original account.
     
  12. gergil4

    gergil4 New commenter

  13. we are trying to save money by freezing a lot of food so we can eat smaller portions. mr side makes cakes instead of me buying them :-(
     
  14. Si N. Tiffick

    Si N. Tiffick Occasional commenter

    I am in that bracket and have a Bank of Scotland reward account. I always get my fiver- if I earn less than £1000, I transfer money back and forth!
     
  15. modelmaker

    modelmaker Occasional commenter

    Thanks for the link, robyn, it was a programme I'd misssed. The thing that came across to me was that although the schemes could save people money, it ultimately boiled down to what was available, and the choice of what is going to be sold is dependent on the preferences of the organisers.
    You'd eliminate that if there was a scheme which allowed people to select the things they would normally buy at the supermarket and save money on them. People wouldn't feel railroaded into foods they're unfamiliar with, but of course, there's no reason that more than one scheme couldn't be run in tandem.
    I'd envisage such a scheme would involve orders being placed via email, which in turn could advise on co-operative offers and alternatives to what the supermarkets are flogging. The trick would be to find an easier and cheaper way to do the supermarket shop and also present things that supermarkets don't offer as well. Encouraging better shopping choices without alienating those that need a bit more time to learn about them.

     
  16. Yes sorry Lara I realise not everyone here earns over £1000 a month but I just figured that most do! My other tip would be to buy some ecoballs for your washing machine, not sure how much they cost these days but a few years ago when I bought some they were around £25 so might take a little while to earn that back but it saves on washing powder eventually.
     
  17. Also, if you are someone who is able to be strict with spending, get a cashback or reward credit card and pay it off each month.
     
  18. jubilee

    jubilee Star commenter

    Miss jubilee has a Halifax credit card and gets £5 reward added each month is she spends £300 + on the card.
    She has been known to buy something she doesn't want to make up the £300 total spend and then return it in the following statement period for a refund! The refund does not affect the next statement's £300 spend ... if the final balance is under £300 because of the rebate, but she spent a separate £300, she still gets the £5 added.
     
  19. Thank you, I didn't know about that card! Hope it's still available when my bonus points on my Sinsburys CC end!
     
  20. modelmaker

    modelmaker Occasional commenter

    And the only loser in all this is the shop who's had to pay 2.5% commission for the credit card transaction but never actually made a sale. The £300 spend brings the bank £7.50 in commission, so even after paying the £5 reward, the bank gets £2.50 for doing *** all.
     

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