Try the £5 a day Challenge
£5 a day challenge
Could you survive on £5 a day?
This idea may not sound very nice . But do try it, even for just one week!
It will teach you how to be very economical. By having so little money, you will discover the art of essential spending.
I budget £10 a day (which includes my tobacco) throughout the month. Normally end the month spending £5.50 to £6.00 a day on average.
It is so refreshing to read that you are budgeting, it sounds to me like you are well in control of your finances. Others should follow suit.
My budget spreadsheet currently runs to the end of 2017!
Increases in Pension income over time are assumed at 1.5%, while increases in the cost of Utilities etc are assumed at 10% per annum. Anything greater than 1.5% or less than 10% would be a bonus for the year.
The current pump price of diesel is also helping my budget for this year.
I no longer use credit cards, and I save £100 a month with my local Credit Union. That is my “emergency fund” for any unexpected expense. It also helps others in my community to get low cost loans! I wish more people would sign up with their local Credit Union and put a little away regularly.
I wonder if you would like to write a guest post on my site about your experiences?
Certainly. I will put something together at the weekend.
Let me know where to send it.
Let me know when it is ready and I will send you the email address to send it to. Also if you wish to add links, please feel free.
Many thanks JD
5 pound a day is easy, as long as you have no bad habbits
Many thanks for the comment. I am sure that if you doubled it to £10, some people would still struggle. 🙂