I started cash budgeting a few months ago and sinking funds is amazing. I put away £60/month for my car - that is maintenance, insurance, mot and breakdown cover. I've always had money to cover that type of thing but then find myself short for the rest of the month until the next payday.
Lara, it is refreshing to watch someone who is realistic and sensible. Like yourself, I won't buy on credit but sometimes I have to talk myself out of getting something knowing in a few years or months I will be giving it away. As we get older and I am you realise it is only stuff. I loved your previous video on saving money and putting that away to spend on something special like Beauty Pye. I couldn't work out how Beauty Pye works but now I know - thank you.
I make big batches of special fried rice and put them in the freezer in used takeaway cartons so that when we do get Chinese (once every couple of months) we save a lot of money as I just pull out a box from the freezer. It's much healthier but because I use the wok oil and a technique a Chinese takeaway chef taught me it really does taste like the real thing.
Thank you for this video Lara ,really useful tips you had said I am going to try and save money I always do a meal plan or two weeks and just buy what I need ,and I trying not to put the heating on as I just put a blanket around me or a dressing gown ,I also brought an air fryer which has saved me lots of money and not putting the oven on so often please keep sharing your tips with us and your viewers thank you so much xx
I always do the home made fake away and because it changes every time my family love them and if we have a movie night then I by popcorn and sweets and cola and again we all love it and I feel we are saving money and my family don,t feel that they are missing out on anything, we just enjoy.
I find sinking funds so useful, I was full time working then went part time last summer after having our first child. I put them away for Christmas, house repair, car repairs as my car is older, birthdays, holidays just everything really then I don’t feel bad like you said when you use them as it’s for that purpose. I use Monzo for my pots and lock them until I need them too 😃
For the last 5 years especially the summer's I had took on so much extra work most of it covering holidays , I'm full time in a kitchen / restaurant and would work two full time jobs I'd go 3 weeks 12hr days without a day off back to my normal hours maybe for 2 weeks then two full time jobs again for 10 days or 2 weeks, or just more hrs when busy. Easter, Bank Holidays, the whole summer starting the beginning of June and 🎄 Christmas. I nearly always put the extra wages away. This year hospitality in Ireland isn't doing as well as other years even during all the lockdowns I worked 6 / 7 days although they were shorter days. I have been grateful at the time for extra work and like so many people I know doing the same because they needed to, to b able to live. This year is going to be very difficult without those extra days. The good thing about it is I'm actually living ,enjoying the summer and spending time with my family grown-up young adult kids, also really enjoying my garden for the first summer in so long. I'm in the middle of changing banks cause my bank ulster bank in pulling out of Ireland, anyway I've realised my direct debits are less than I thought 😅 ( when does that happen ) but with the cost of living now that won't last. Banks here charge u for having a bank account, my new bank is taking 8 euros a month just for me to have an account That's even before i do anything. My electricity bill was 90 euros a month before Christmas now it's 139 euros. A bag of coal gone from 20 euros to 30 euros. Before Christmas I filled my oil tank which heats the house, for about 500 euros now it's 1200 euros , that one I can't get my head around. I'm buying a bag of coal every week over the summer to stock up. Yes I can heat the radiators by burning coal have a back boiler or home heating oil. Diesel don't even go there, 70 euros filled up the car now it just over double. 😒 to fill it. Great tips. I needed this video.
I rent atm and my stove is ANCIENT. Ofc landlord can't substitute it just because it consumes so much money so I'm planning on buying a hotpot/electric portable stove. It takes me 15 mins to boil one cup of water so you can imagine lol.
I made two changes recently to save/make money first was deleting takeaway apps I get my sister to drive me there, go to the clearance section at the co-op nearby or I go and buy it myself. Second thing was getting chase bank 1% cashback it's not much but its free money😁
Hi Lara, I too never buy anything unless there is a- cashback or B- voucher code or best of all c- on sale. I am very lucky I have a blue light card ( for key workers) which offers discounts at certain places.
@4:10 📣 📢 say it again for the folks in the back! Thank you SO much for this. You’re the first person I’ve heard mention this point in a money saving video. Our monetary worth does not equal our worth as a person. It’s taking me years to come to that realization and actually accept it. It’s so tough being the friend or family member who obviously makes less money. I do feel immense shame over it.😔💔 But at least now inflation is giving me the chance to level the playing field if you will and suggest things like secret Santa instead of buying individual gifts. My in-laws went for it and I’m so grateful!🥲 Any ideas for dealing with this over the holidays?
Hi Lara, could you tell me if drawing money out of a sinking is easy, have never had one but after listening to you am really interesting in setting one up.
Sinking funds are saved either in cash or in one of your bank accounts. So ideally you would save in easy access accounts or a bank such as Monzo which allows you to have pots (easy to access also).
I used an existing account and kept a record on paper. I added up all of the irregular expenses (such as dental and optical costs) plus the annual amount from direct debits that don't come out monthly, and divided the total by 12 , and put that amount away every month. I speak in the past tense because I used the surplus I thought I had accrued so I am back to square one. Also I forgot to add in an item I buy about once a year so I used a gift voucher for that! I like the idea though as it gets away from having good and bad months, though there may still be unpredictable events to pay for.
@Nope Franks I’m putting literally every penny I can at the debt. I’m blessed because I managed to get quite a nice stockpile which we’re using and not buying more until we really have to
Matthew 6 Lay Up Treasures in Heaven(U) 19 (V)“Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal; 20 (W)but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. 21 For where your treasure is, there your heart will be also. The Lamp of the Body(X) 22 (Y)“The lamp of the body is the eye. If therefore your eye is [g]good, your whole body will be full of light. 23 But if your eye is [h]bad, your whole body will be full of darkness. If therefore the light that is in you is darkness, how great is that darkness! You Cannot Serve God and Riches 24 (Z)“No one can serve two masters; for either he will hate the one and love the other, or else he will be loyal to the one and despise the other. (AA)You cannot serve God and [i]mammon. Do Not Worry(AB) 25 “Therefore I say to you, (AC)do not worry about your life, what you will eat or what you will drink; nor about your body, what you will put on. Is not life more than food and the body more than clothing? 26 (AD)Look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they? 27 Which of you by worrying can add one [j]cubit to his [k]stature? 28 “So why do you worry about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin; 29 and yet I say to you that even Solomon in all his glory was not [l]arrayed like one of these. 30 Now if God so clothes the grass of the field, which today is, and tomorrow is thrown into the oven, will He not much more clothe you, O you of little faith? 31 “Therefore do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ 32 For after all these things the Gentiles seek. For your heavenly Father knows that you need all these things. 33 But (AE)seek first the kingdom of God and His righteousness, and all these things shall be added to you. 34 Therefore do not worry about tomorrow, for tomorrow will worry about its own things. Sufficient for the day is its own trouble.
Im 13 trying to save £4000 in 4 years too buy my first car at 17 and im getting a part time job at 16 or 17 any job places u think is good to work at for inherence and driving lessons
Never watched love island either just seems so fake and I’ve no idea who any of them are lol. I’m attempting a no spend month, first thing was deleting my vinted app it’s so addictive! I’m on first name terms with the parcel collection shop and they don’t even need my ID anymore 🤣🙈
I tried to watch two series of Love Island to see what the fuss was about but I dropped it both times as I lost interest it's a popularity contest nothing about finding love at all so yeah never going to watch it again😅
I'm confused by your energy price fix. You're saying your on the standard variable rate but this isn't something that you can "fix" onto - this is the price cap which is reviewed throughout the year, so its not a fix. Just be careful and check your tariff end date on your account. We're on the standard variable rate but it's due to go up in October so not actually a fix.
Yeah, that made no sense to me either. I work in the energy services field. We can't offer fixed rate contracts anymore, because of price fluctuations. Margins on fixed price contracts are higher (making it more expensive) to cover the risk of prices falling. But prices aren't going to go down, and no amount of margin will cover off the risks for the energy company, so variable rate contracts the only ones available at the moment. You might find one that's "fixed" for three months, but read the small print and you'll find they have the right to increase during contract if prices rises are exorbitant (which they are at the moment). If you can, put away money now for winter utility bills, keep it in your savings account, don't overpay the utilities company on monthly amount by keeping it at "winter" levels, because if the energy company goes bankrupt (and some will) this fall and winter, you'll have sunk prepaid amount into a bankruptcy with no chance of getting it back.
If you have any buffer, invest in insulation for your home, buy an electric heater to save on gas (buy it now, not in fall when everyone is looking for one), use one the many comforters we bought to make our homes cosy and turn down the heat, go to bed earlier and keep warm under warm duvet, take shorter or colder showers, shower together. There is not much influence we have on prices, there are no good prices to be had, the only solution is to reduce usage.
Interesting take on it, I'm sure those who are unable to put food on the table or heat their homes in the winter would disagree, but I do like to think I am mostly a positive person and always look for the good in a situation. I am just equally aware of how difficult it is for millions of households at the moment so want to show support to them. Thank you for watching, I'll take your comment on board!
@4:10 📣 📢 say it again for the folks in the back! Thank you SO much for this. You’re the first person I’ve heard mention this point in a money saving video. Our monetary worth does not equal our worth as a person. It’s taking me years to come to that realization and actually accept it. It’s so tough being the friend or family member who obviously makes less money. I do feel immense shame over it.😔💔 But at least now inflation is giving me the chance to level the playing field if you will and suggest things like secret Santa instead of buying individual gifts. My in-laws went for it and I’m so grateful!🥲 Any ideas for dealing with this over the holidays?
@4:10 📣 📢 say it again for the folks in the back! Thank you SO much for this. You’re the first person I’ve heard mention this point in a money saving video. Our monetary worth does not equal our worth as a person. It’s taking me years to come to that realization and actually accept it. It’s so tough being the friend or family member who obviously makes less money. I do feel immense shame over it.😔💔 But at least now inflation is giving me the chance to level the playing field if you will and suggest things like secret Santa instead of buying individual gifts. My in-laws went for it and I’m so grateful!🥲 Any ideas for dealing with this over the holidays?
I started cash budgeting a few months ago and sinking funds is amazing. I put away £60/month for my car - that is maintenance, insurance, mot and breakdown cover. I've always had money to cover that type of thing but then find myself short for the rest of the month until the next payday.
Lara, it is refreshing to watch someone who is realistic and sensible. Like yourself, I won't buy on credit but sometimes I have to talk myself out of getting something knowing in a few years or months I will be giving it away. As we get older and I am you realise it is only stuff. I loved your previous video on saving money and putting that away to spend on something special like Beauty Pye. I couldn't work out how Beauty Pye works but now I know - thank you.
I make big batches of special fried rice and put them in the freezer in used takeaway cartons so that when we do get Chinese (once every couple of months) we save a lot of money as I just pull out a box from the freezer. It's much healthier but because I use the wok oil and a technique a Chinese takeaway chef taught me it really does taste like the real thing.
Omg. Who has the time to do all of this. Thank you! I will try.
I really like the idea of putting money aside now for our winter electricity & gas bills x
Your videos are so useful! Things like this arent taught by school and it can all be quite overwhelming. So thank you 💗
I’m so pleased you find them useful! Thank you for watching xx
Thank you for this video Lara ,really useful tips you had said I am going to try and save money I always do a meal plan or two weeks and just buy what I need ,and I trying not to put the heating on as I just put a blanket around me or a dressing gown ,I also brought an air fryer which has saved me lots of money and not putting the oven on so often please keep sharing your tips with us and your viewers thank you so much xx
Thanks Carol! 3 money saving videos up this week for you. Thank you for watching xx
I always do the home made fake away and because it changes every time my
family love them and if we have a movie night then I by popcorn and sweets and
cola and again we all love it and I feel we are saving money and my family don,t
feel that they are missing out on anything, we just enjoy.
I find sinking funds so useful, I was full time working then went part time last summer after having our first child. I put them away for Christmas, house repair, car repairs as my car is older, birthdays, holidays just everything really then I don’t feel bad like you said when you use them as it’s for that purpose. I use Monzo for my pots and lock them until I need them too 😃
Haha, ‘I’m Prince Andrew, I do not sweat’ made me laugh so much. Another great video, thanks Lara.❤
Haha 😂😂
I get to work early and make my cup of tea and breakfast there to save on electric
I always charge my phone at work
For the last 5 years especially the summer's I had took on so much extra work most of it covering holidays , I'm full time in a kitchen / restaurant and would work two full time jobs I'd go 3 weeks 12hr days without a day off back to my normal hours maybe for 2 weeks then two full time jobs again for 10 days or 2 weeks, or just more hrs when busy. Easter, Bank Holidays, the whole summer starting the beginning of June and 🎄 Christmas. I nearly always put the extra wages away. This year hospitality in Ireland isn't doing as well as other years even during all the lockdowns I worked 6 / 7 days although they were shorter days. I have been grateful at the time for extra work and like so many people I know doing the same because they needed to, to b able to live. This year is going to be very difficult without those extra days. The good thing about it is I'm actually living ,enjoying the summer and spending time with my family grown-up young adult kids, also really enjoying my garden for the first summer in so long.
I'm in the middle of changing banks cause my bank ulster bank in pulling out of Ireland, anyway I've realised my direct debits are less than I thought 😅 ( when does that happen ) but with the cost of living now that won't last. Banks here charge u for having a bank account, my new bank is taking 8 euros a month just for me to have an account That's even before i do anything.
My electricity bill was 90 euros a month before Christmas now it's 139 euros. A bag of coal gone from 20 euros to 30 euros. Before Christmas I filled my oil tank which heats the house, for about 500 euros now it's 1200 euros , that one I can't get my head around. I'm buying a bag of coal every week over the summer to stock up. Yes I can heat the radiators by burning coal have a back boiler or home heating oil. Diesel don't even go there, 70 euros filled up the car now it just over double. 😒 to fill it.
Great tips. I needed this video.
I feel so poor these days, your videos are so helpful :)
I rent atm and my stove is ANCIENT. Ofc landlord can't substitute it just because it consumes so much money so I'm planning on buying a hotpot/electric portable stove. It takes me 15 mins to boil one cup of water so you can imagine lol.
Such an inspiration. Thank you.
Enjoyed your talk. Thanks Lara!
Glad you enjoyed it!
I made two changes recently to save/make money first was deleting takeaway apps I get my sister to drive me there, go to the clearance section at the co-op nearby or I go and buy it myself. Second thing was getting chase bank 1% cashback it's not much but its free money😁
Well done, it's all about those little changes adding up! x
Hi Lara, I too never buy anything unless there is a- cashback or B- voucher code or best of all c- on sale. I am very lucky I have a blue light card ( for key workers) which offers discounts at certain places.
Yes!! Always great to have these methods to shop with! well done x
Lovely video. You look great x
@4:10 📣 📢 say it again for the folks in the back!
Thank you SO much for this. You’re the first person I’ve heard mention this point in a money saving video. Our monetary worth does not equal our worth as a person. It’s taking me years to come to that realization and actually accept it. It’s so tough being the friend or family member who obviously makes less money. I do feel immense shame over it.😔💔
But at least now inflation is giving me the chance to level the playing field if you will and suggest things like secret Santa instead of buying individual gifts. My in-laws went for it and I’m so grateful!🥲
Any ideas for dealing with this over the holidays?
Can you please do a video explaining how cash-back works and what it is?
Can you talk more about the chrome extensions please for cash back
Hi Lara, could you tell me if drawing money out of a sinking is easy, have never had
one but after listening to you am really interesting in setting one up.
Sinking funds are saved either in cash or in one of your bank accounts. So ideally you would save in easy access accounts or a bank such as Monzo which allows you to have pots (easy to access also).
I used an existing account and kept a record on paper. I added up all of the irregular expenses (such as dental and optical costs) plus the annual amount from direct debits that don't come out monthly, and divided the total by 12 , and put that amount away every month. I speak in the past tense because I used the surplus I thought I had accrued so I am back to square one. Also I forgot to add in an item I buy about once a year so I used a gift voucher for that! I like the idea though as it gets away from having good and bad months, though there may still be unpredictable events to pay for.
What pains me is having to pay postage 😵💫 if its not free postage I can't bring myself to buy it!
Yes, Queen 👌🙌❤️
Nice video. Yes we are in inaction and this video helps
Glad it was helpful!
I’m trying to pay off my credit card debts, I need all your help Lara!!!
@Nope Franks I’m putting literally every penny I can at the debt. I’m blessed because I managed to get quite a nice stockpile which we’re using and not buying more until we really have to
Great video!
Matthew 6
Lay Up Treasures in Heaven(U)
19 (V)“Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal; 20 (W)but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. 21 For where your treasure is, there your heart will be also.
The Lamp of the Body(X)
22 (Y)“The lamp of the body is the eye. If therefore your eye is [g]good, your whole body will be full of light. 23 But if your eye is [h]bad, your whole body will be full of darkness. If therefore the light that is in you is darkness, how great is that darkness!
You Cannot Serve God and Riches
24 (Z)“No one can serve two masters; for either he will hate the one and love the other, or else he will be loyal to the one and despise the other. (AA)You cannot serve God and [i]mammon.
Do Not Worry(AB)
25 “Therefore I say to you, (AC)do not worry about your life, what you will eat or what you will drink; nor about your body, what you will put on. Is not life more than food and the body more than clothing? 26 (AD)Look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they? 27 Which of you by worrying can add one [j]cubit to his [k]stature?
28 “So why do you worry about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin; 29 and yet I say to you that even Solomon in all his glory was not [l]arrayed like one of these. 30 Now if God so clothes the grass of the field, which today is, and tomorrow is thrown into the oven, will He not much more clothe you, O you of little faith?
31 “Therefore do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ 32 For after all these things the Gentiles seek. For your heavenly Father knows that you need all these things. 33 But (AE)seek first the kingdom of God and His righteousness, and all these things shall be added to you. 34 Therefore do not worry about tomorrow, for tomorrow will worry about its own things. Sufficient for the day is its own trouble.
Im 13 trying to save £4000 in 4 years too buy my first car at 17 and im getting a part time job at 16 or 17 any job places u think is good to work at for inherence and driving lessons
monzo has pots too and at the moment they earn interest of 1%
Never watched love island either just seems so fake and I’ve no idea who any of them are lol. I’m attempting a no spend month, first thing was deleting my vinted app it’s so addictive! I’m on first name terms with the parcel collection shop and they don’t even need my ID anymore 🤣🙈
I tried to watch two series of Love Island to see what the fuss was about but I dropped it both times as I lost interest it's a popularity contest nothing about finding love at all so yeah never going to watch it again😅
I watch all videos on 2x speed and now when I talk to people I think they sound so slow 😂
I like your accent!😊
Thank you! 😃
Are you still not sure which commission deal you have with Plum? Strange as you’re sure about most things.
I'm confused by your energy price fix. You're saying your on the standard variable rate but this isn't something that you can "fix" onto - this is the price cap which is reviewed throughout the year, so its not a fix. Just be careful and check your tariff end date on your account. We're on the standard variable rate but it's due to go up in October so not actually a fix.
Yeah, that made no sense to me either. I work in the energy services field. We can't offer fixed rate contracts anymore, because of price fluctuations. Margins on fixed price contracts are higher (making it more expensive) to cover the risk of prices falling. But prices aren't going to go down, and no amount of margin will cover off the risks for the energy company, so variable rate contracts the only ones available at the moment. You might find one that's "fixed" for three months, but read the small print and you'll find they have the right to increase during contract if prices rises are exorbitant (which they are at the moment). If you can, put away money now for winter utility bills, keep it in your savings account, don't overpay the utilities company on monthly amount by keeping it at "winter" levels, because if the energy company goes bankrupt (and some will) this fall and winter, you'll have sunk prepaid amount into a bankruptcy with no chance of getting it back.
If you have any buffer, invest in insulation for your home, buy an electric heater to save on gas (buy it now, not in fall when everyone is looking for one), use one the many comforters we bought to make our homes cosy and turn down the heat, go to bed earlier and keep warm under warm duvet, take shorter or colder showers, shower together. There is not much influence we have on prices, there are no good prices to be had, the only solution is to reduce usage.
Hopefully the comparison with prince andrew ends with not sweating 😅….🤨
Yeah, I think I will walk to work. It only takes me 2.5 hours on a public transport, wonder how long would that be for a brisk walk 🤣
Wow, that's so much of your day spent traveling to work!
@@LaraJoannaJarvis luckily, only 1 day a week, but I am still shocked 🥵
A woman who took until the age of 38 to get a joint mortgage is giving people financial advice.
Wow
Good ideas. But stop telling the world that everything is just so awful. There are always going to challenges. The sky is not falling.
Interesting take on it, I'm sure those who are unable to put food on the table or heat their homes in the winter would disagree, but I do like to think I am mostly a positive person and always look for the good in a situation. I am just equally aware of how difficult it is for millions of households at the moment so want to show support to them. Thank you for watching, I'll take your comment on board!
Don't spend 5 minutes on the intro
It was 2 mins
@4:10 📣 📢 say it again for the folks in the back!
Thank you SO much for this. You’re the first person I’ve heard mention this point in a money saving video. Our monetary worth does not equal our worth as a person. It’s taking me years to come to that realization and actually accept it. It’s so tough being the friend or family member who obviously makes less money. I do feel immense shame over it.😔💔
But at least now inflation is giving me the chance to level the playing field if you will and suggest things like secret Santa instead of buying individual gifts. My in-laws went for it and I’m so grateful!🥲
Any ideas for dealing with this over the holidays?
@4:10 📣 📢 say it again for the folks in the back!
Thank you SO much for this. You’re the first person I’ve heard mention this point in a money saving video. Our monetary worth does not equal our worth as a person. It’s taking me years to come to that realization and actually accept it. It’s so tough being the friend or family member who obviously makes less money. I do feel immense shame over it.😔💔
But at least now inflation is giving me the chance to level the playing field if you will and suggest things like secret Santa instead of buying individual gifts. My in-laws went for it and I’m so grateful!🥲
Any ideas for dealing with this over the holidays?