Budgeting – The £50 Challenge

New Picture (16)As regular readers will know, I’m not the best at budgeting and if you’ve paid particular attention, you’ll have noticed that beyond that I’ve actually racked up a fair bit of debt. Recently this has been bugging me more than usual and I’ve been wondering where all the money is going. Sure, sometimes I just have a lot of social events that each cost a fair few bob but sometimes the money just gets frittered away on small, insignificant purchases.

So, to combat this I’ve looked at my diary for September, seen that it is clear of any expensive social events and decided to challenge myself to living on £50 per week. This £50 is to cover food, social occasions and all shopping whether that be a new top or a new tube of toothpaste. Not only am I hoping to save some money but I’m also hoping that it will force me to use up some of the “stuff” that’s in my house. I’ve got a freezer and cupboards full of food, drawers full of cosmetics, books I’ve never read and so much more that I could be using to entertain myself with. I’ve already spent the money so I may as well cash in and get some ROI from it!

I’ve started this week, with the weekend just gone and I’ll be updating the blog with what I’ve spent and how I’ve spent it across the month. I’m hoping I’ll be able to maintain some sort of social life and stick to my budget 🙂

So far:

£3.85 – Fruit and veg. from the market stall in town
£5.00 – Asda – sweeties and treats
£8.48 – Boots – meal deal plus mouthwash
£15.00 – Pub lunch

I’ve been lucky and had Domino’s pizza bought for me on Saturday night, my parents fed me on Sunday night as I was round there after walking the dog anyway.

Coming up later this week I have a dinner out with a friend so I might have to be extra penny pinching next week to make sure I stay within my limits!

Has anyone else completed this sort of challenge? Any tips for fun things to do that really don’t cost much money? x

2 thoughts on “Budgeting – The £50 Challenge

  1. Awesome challenge! When I was working my way out of debt, I would try to make up challenges like this all the time (because let’s face it, spending money on fun stuff is much more enjoyable than saving and paying down debt). On of my favorites was the pantry challenge – basically no restaurants or grocery shopping until every ounce of food in my pantry was consumed. Made for some “interesting meals” 🙂

    Great job on the website!

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