So today was Budget Day (in case you hadn’t noticed).
I am no economist, (in case you hadn’t noticed…) but even I know that the country’s finances are in a pretty poor way. And this obviously affects all of our own personal budgets too.
Lots of people have been asking me lately if My Make Do and Mend Year has saved us money, and if so, how much money.
Now, rather naively, we didn’t go into this as a money saving project, and have approached it more from a ‘save the planet’ angle, and I hadn’t really been keeping track of what we were saving. I did start a Purchases page with the grand aim of documenting everything we bought, but this fell by the wayside pretty early on.
But I am resserecting it now! I thought it would be really interesting to try and quantify how much money (if any) we save over the second half of our year of Buying Nothing New.
So I have re-started documenting our purchases, and I will try to compare what we spent to what it would have cost if we had bought that item new.
I wasn’t convinced that we would be saving a huge amount, but I sat down last night to do this, as I was asked to go on the Mark O’Donnell show on BBC Radio Wiltshire again, as part of their ‘pre-budget’ show, and I thought it would be useful to have some figures, and I was really shocked. We are only 3 weeks into March, and already I reckon we have saved nearly £60!
So if we extrapolate that for the month, that works out at £80/month. And with another few whirrings of the brain cogs, this works out at £960 for the year. And then if you throw in the £300ish I think we probably saved over Christmas, we could have saved ourselves about £1250 by the end of the year. And that’s not accounting for all the things we just haven’t bought, like £5 a pop magazines etc.
So not only are we Saving the Planet, we are Saving Money too.
Come on George, if it can work for us, then maybe a little bit of Make Do and Mend can work for the greater UK economy too…
(I realise that this may be flawed economics, as if you listen to the government, it is our National Duty to go out and bankrupt ourselves on shiny new things to stimulate the economy, but that is an argument for another day…!)