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RE: Intermittent Savings

in LeoFinance2 months ago

We have had no-buy months in Saturday Savers Club every year since we started, people seem to really relish them even if they didn't feel their spending was out of control or they needed to cut down.

Next year, we've planned no-buy months for March, June and October (we try and avoid festivals, holidays and the start of school). Actually, they're low-buy rather no-buy months.

As you suggest in your post, we have a couple of weeks preparation where participants set out their no-buy rules and most people have an aim (in my case, stopping every trip to the supermarket for a pint of milk costing 30 GDP). Different people do different things according to their circumstances, but pretty much everyone saves quite a chunk which maybe goes into their emergency fund or towards their savings goals. I think the highest amount saved in one month was about 1,000 USD but it could have been higher.

When we were planning 2025, the first thing Club members said they wanted was no-buy months and lots of them (well, three) 😁.

And you are right, everyone does become more discriminating about how they are using their resources. It's lovely every year seeing what people have achieved and how their habits (and in some cases, their lives) have changed.

Here's the FAQs for the year just closing for anyone that is interested. We'll be launching 2025 on Saturday 4 January.

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Saturday Savers Club

I haven't heard of this.

Just got to the end and saw the link :)

And you are right, everyone does become more discriminating about how they are using their resources.

I don't know about you, but I think being on Hive has made me more discriminating about lots of things - and less discriminating in the case of lots of other things too!

less discriminating in the case of lots of other things too!

That's interesting. What sorts of things?