Second Purse Challenge Thread #2

A question about : Second Purse Challenge Thread #2

Hi there,

This is a continuation of the thread that Kerri_dfw started at the beginning of 2012.

Please take some time to read how Mothership's second purse system works, and feel free to ask any questions you may have. We love to help

For those following the original thread if okay with you, shall we keep a track of our totals in our own signatures? I will list the original members in the next thread. Please let me know if you wish to be removed - thanks

Best answers:

• Second Purse Challenge 2012
  I thought I'd compile a thread for anyone wanting to start motherships second purse system as a challenge
  If you wish to sign up then state what your dream item that you will buy with your saved Ј's will be and how much it costs. I will allocate you a number and as your 3rd purse grows I will update the total until you post to say that you have achieved your dream item and would like to set a 2nd dream item as your next target
  How the 2nd purse works:
  Second purse example spreadsheet
  If you'd like to do the 2nd purse challenge it's really quite simple and you can start small. You can even download a copy of the above spreadsheet for your own use, or use your own or even paper and pen.
  For this to work effectively, imagine you are two people, firstly a shopkeeper, secondly a customer. Your 2nd purse is the shop till, your 1st purse is your grocery budget, the 3rd purse is the cash office where the money is stored when there's too much in the till before being spent or saved.
  Quote:
  Originally Posted by Mothership
  This is how the 2nd Purse works1st Month
  Add Ј10. Spend Ј10 on offers B1G1F or Half Price.
  Your Stock is worth Ј20.
  You use Ј5 worth, that's what you pay back, your stock is worth Ј15
  2nd Month
  Add Ј10 to the Ј5 you paid back, you now have Ј15 to spend on offers.
  Spend Ј15, your stock is now worth Ј 45
  If you use Ј10 worth, and pay that back when you get paid.
  You will have Ј10 in 2nd Purse. Ј35 of stock
  3rd Month
  Add Ј10 to the Ј10 you paid back, you now have Ј20 to spend on offers.
  Spend Ј20 , your stock is now worth Ј75
  If you use Ј20 worth, and pay it back when you get paid.
  You will have Ј20 in 2nd Purse. Ј55 of stock
  4th Month
  Add Ј10 to the Ј20 you paid back, you now have Ј30 to spend on offers.
  Spend Ј30 , your stock is now worth Ј115
  If you use Ј25 worth, and pay it back when you get paid
  You will have Ј25 in 2nd Purse . Ј90 of stock
  5th Month
  Add Ј10 to the Ј25 you paid back , you now have Ј35 to spend on offers.
  Spend Ј35, your stock is now worth Ј160
  If you use Ј30 worth , and pay it back when you get paid
  You will have Ј30 in 2nd Purse. Ј130 in stock.
  6th month
  Add Ј10 to the Ј30 you paid back. You now have Ј40 to spend on offers
  Spend Ј40, your stock is now worth Ј210
  If you use Ј40 worth, and pay it back when you get paid.
  You will have Ј40 in 2nd Purse. Ј170 in stock.
  7th month
  Add Ј10 to the Ј40 you paid back. You now have Ј50 to spend on offers
  Spend Ј50, your stock is now worth Ј270
  If you use Ј50 worth, and pay it back when you get paid.
  You will have Ј50 in 2nd Purse. Ј220 in stock
  8th month
  Add Ј10 to the Ј50 you paid back. You now have Ј60 to spend on offers
  Spend Ј60, your stock is now worth Ј340
  If you use Ј60 worth, and pay it back when you get paid.
  You will have Ј60 in 2nd Purse. Ј280 in stock.
  I think this is the easiest way to show how the 2nd Purse works, you don't always spend all money in the 2nd Purse every month. So I've not allowed for that, or that some of you already had a good starting stock.
  The 2nd Purse is the working part of the idea, don't be afraid to spend this on bargains. Let it flow.
  I know some of you don't want to PAY full price for anything, even to yourself.
  As long as you got it at a good price to start with. That's what you've paid. That amount can never go up.
  Remember once the money goes into the 2nd Purse it can only make you stronger, more money , more stock = Less of your hard earned money going to the SM.
  Once they have it its lost, if you have it, whether in stock or in the purse , you STILL
  have it!
  The idea works because the money your making is going round and round, Spend Ј10 make Ј10, spend Ј20 make Ј20, spend Ј40 make Ј40. And so on. You are re-investing your savings in YOU!
  When you have a set amount in your 2nd purse, mine's Ј100, then you move anything over this into the 3rd purse to save up and spend as you choose
  Mothership's 2nd Purse system - check out these posts
  Please read the two posts for the weekly shop example to get a good idea how Mothership has managed to cut her weekly grocery shop using the 2nd purse system
  Motherships typical weekly shop example post 1
  Motherships typical weekly shop example post 2
  My other purse
  Purse/Bank
  tip 1
  2nd Purse
  Bogofs etc
  more info
  Useful Links
  Grabbits board
  Food Shopping & Groceries
  Shop but don't drop
  Donald Russell for bulk meat (links to motherships post) - free delivery code = win12e1530
  Camelcamelcamel to check for price fluctuations in the rainforest
  mysupermarket to check the big 5 for prices
  Just Linen discount excellent quality bedding
• List of participants and the items they've bought with their 3rd purse
  #005 Mothership | Suzie's Cafe
  #016 coxy11 | CAZCO | KitchenAid Candy Apple Red/Ski wear for the family/Nomination charms
  #061 Skilly
  #062 Mossy
  #068 dollydog |Dolly's Emporium| Ј200
  #069 Billie-jo
  #070 alibo100
  #071 EstherH |Esther's Bagels|
  #072 Always after a bargin
  #073 Tenyearstogo || Freezer
  #074 lottie3000 |Cherry Corner|
  #075 fuddle |The Cupboard Store| Bed
  #076 hollieinbloom |Helen's Hoard|
  #077 tattycath |Tatty's Shop|Ј500 for Christmas
• I'll make this one a sticky now and move the old one to Gone Off.
• Hi ,coxy11 thanks for starting second purse no 2 .
• Thanks for starting the new thread
• Hi everyone,
  I think it has taken me the longest time to get my head around the second purse challenge, but I think I finally got it.lol
  I would like to invest 5 pounds per week, maybe 10.
  Do I write this into my signature myself and update it or do I have to tell somebody on here about it?
  Sorry, I am new.lol
• Hello ej22 - not stalking you - honest
  If you want I can allocate you the next number on the list. Let me know what your 'shop' is called if you have a name for it hehe and what you will buy with your savings
  Coxy
• hi coxy, nice to see a familiar face.
  My shop would be called Ebs please and I am saving up for Butlins,
  thanks
• just checking in
• Hi all, No56 checking in, thanks for continuing the thread Coxy11
  Rosy x
• Hello everyone - I do hope Kerri doesn't mind me starting this new thread?
  Nothing much to report except that as it's the 1st of the month, another Ј20 has gone into the 2nd purse, so total is Ј47 odd. MrW have my coffee refills on special so may well pop there after the school run/tomorrow. I want to do a small DR order to come next week - have one coming this Friday, just sausages (love them!) and beef meatballs. I might get some casserole beef if it's on offer
  Hope everyone is doing well.
  Coxy
• Hi all, just letting you know I am still here!
  Well sadly OH found out today that he is indeed being made redundant So ScrabbleStores will come in darn useful - I can eke things out for a few months, I think, without having to spend too much. The way the job situation is here it could be a while before he finds work again
• Sorry to hear that scrabbles. Not sure my stores would last that long with the gannets here! Sending (((hugs))) to you and yours x
  I went to MrW just before the afternoon school run and got 4 x Kenko refills - they are Ј2.92 - cheapest I've seen, usually MrT does them at Ј3 if they reduce them. Made the mistake of getting some in W!lko once thinking they were a bargain, then realised they were the smaller size doh!
  Off to Co$tco tomorrow so may look at their meat before committing to another DR order. I have Ј36 left in the 2nd purse, and have started another 3rd purse with Ј14 odd. What shall I buy next I wonder....
  Hope all are okay
  Coxy
• Thanks Coxy - I feel a little more positive today than yesterday I do feel so grateful for my stockpile though! Whatever else may happen, we certainly won't starve...
  Costco meat is pretty good. The best value is from buying a big hunk of meat and chopping it yourself, it also means you can cut it as thick or thin as you like (best make sure no gannets are around at this point, as they'll demand bigger portions)
  Big tip - the cheapest cut is the flank, if you cut it against the grain it's frying steak or you can slow-cook it as a joint or cube it for casserole steak. It's really good considering the price.
• Thanks scrabbles, that's good to know. I'm from the generation that only used to buy from a SM and had it all pretty packaged for me with instructions I've only in recent years been in a butcher and only then for my Christmas turkey! Sad but true.....
  Forgot to add that I also spent Ј3.16 from 2nd purse in MrT buying 4 x 3kg of dishwasher salt. It was on Martin's weekly email. SEL said Ј1.54 but I self-scanned it and it came through at 79p a bag We have very hard water so have to top up the machine about twice a week
  Coxy
• Morning all, scrabbles sorry to hear about your oh :-( my oh was ill for nine weeks with out any money coming in ( Self-employed) My Stores was a god send Would never have managed without it . Been shopping bought
  6 comfort Ј18.00 big ones
  36 tins of pears 15p Ј5.40
  2 washing liquids Ј4
  2 cooking oils Ј4
  12 tins of carrots. Ј2.40
  So have spent Ј33.80 to come out of second purse . Will update in a later .
• Hi all,
  Just back from Co$tco - not such a pleasurable experience with DS1 (13) in tow. However, I was very good and got the youth club tuck that I needed, plus a nice pork belly joint for the weekend. In terms of 2nd purse I just got some cereal which was good value. Totals updated.
  Coxy
• Me again
  In the past week I have been sent two emails from DR with a free delivery code, so I've taken the plunge and ordered another delivery for 12th Oct (order also coming tomorrow). This time I've ordered minced steak x 8 and beef shin x 4. This has wiped out 2nd purse, but I'm paying back for stock used every 2-3 days which means I'm winning - just.....
  Slowly getting through the stock of sliced rolls I got on ys during the summer hols. Have enough to last to half term. Also juice cartons from Co$tco have been a god send as things like that really bump up the weekly shop. Other than that it's just storecupboard bits like olive oil, cereal and loo roll that keep things ticking over.
  Enough rambling, sorry!
  Off to update sig.