Just introducing 'Shona Prophett' on here before the start of the Frugaldom Challenge in 2011 - £4,000 for a year, will I be Shona Prophett by the end of it? Who knows!
Getting started immediately, with £4k at the ready: £1,000 is in Premium Bonds in preparation for the first draw of 2011, so the starting figure for everything else is £3,000. Working from home should make the entire Frugaldom project self-sufficient, self-funding and, eventually, profitable.
It's going to be difficult juggling the various challenge budgets but I'll overcome any problems as and when they arise, with a little help from my friends.
Here is the link to the spreadsheet I'll be using.
(Right click the link and save file as whatever you want it to be.)
The above is the Frugaldom Budget spreadsheet - it shows all the budget amounts from which all expenses will be deducted, but it also has a seperate section to the right for all the other things not included in the household budget. If anything gets spent, it gets logged in the negative and anything that comes in from any of the categories listed gets logged in the positive. The household budget balance is still maintained but it then continues across to the overall budget in the lower right hand side of the spreadsheet. My challenge is for this figure to be positive or, at the very least, '0' by 31/12/11. Because the budget is supposed to beat the bank, the minimum this final figure should be is £20, to reflect the 0.5% interest that the £4k would attract had it been left in the bank - my reward, or profit, had I not needed to spend it.
I want to be 'SHONA PROPHETT' next year. But don't we all?
I was Shona Penny but it turned into a pound, so I'm now Shona Prophett
Check out www.shonaprophett.com/
I have just logged -£119.88 from the telephone budget, as I opted to pay BT an annual lump sum in order to make the most of their discount. Weekend calls are free, so no phone bills as long as we don't use the phone through the week. 1571 service cancelled - we don't really need it - but still got online billing for checking the monthly statements and calls plus the DD set up for internet calls to 0845. Despite this being a free number for many, it excludes internet dial-up, which is what needs to be used here once a month or so for updating a website. Keeps it otherwise free.
Going into 2011 with a grand total of £2,880.12 plus £1,000 of Premium Bonds in the hope of winning something, even if it's only £25. It will still beat the bank, working out at 2.5%
I'm planning on earning everything extra needed by selling surplus eggs, surplus stock, hand crafting decorative eggs, small investments, utilising cashback sites, using a cashback credit card for almost everything, negotiating discounts, trading and bartering, possibly trying a few free competitions, selling on eBid and hoping the interest rates increase so the monthly ISA interest payment covers the cost of the chicken feed. I'm also hoping to make the most of social media, learning what I can about it in a bid to generate some extra interest in the challenge.
As always, you are welcome to follow the Frugaldom challenges in our free forums