As a person who works in energy industry in UK, what I can advise is. - contact your supplier for your monthly projection and compare your direct debit. If it matches, you can use this money. Your direct debit is reassessed every 3 months based on your usage but projection is based on whole year of usage and forecast. If you'll keep your direct debit close to projection, you don't need extra money on hand. This is why we have it in first place, it works as an energy envelope ✉️ ❤
Keep the energy buffer for one more bill. You don’t want to get caught off guard!! You will be kicking yourself later if u need more money!! I love your videos. You r doing a smashing job!!
Oh man! This is so satisfying to watch. It's only a dream to me at the moment to be able to "condense" anywhere near this amount, but I do feel watching your channel (among many others - I'm almost addicted now 🙈) that I'm definitely on the path to having substantial savings! ❤
Ah I’m sure one day you will! I started out small and now I try and budget so much I don’t spend that much on things I don’t need! Watching videos definitely inspired and helped me! X
cash stuffing has completed change my life- I have a small income compared to what I was used too, and I saved 500 this month!!!! I barely spend money on things I do not need! Thank you for inspiring
Brilliant. These are so relaxing... I consider it therapy to see you condensing and taking a nice chunk back to the bank. Your voice is so soothing and you keep up a steady conversation. I am so relaxed after one of these videos. 26:40
For energy…maybe ask yourself a couple of questions… 1. Do I have room in my “every day” budget to cover increased energy costs? 2. Did I need this extra money during the energy increases from the last year or 2? 3. Is there a sense of piece knowing I have this money set aside or does it feel like it could be put to better use? Maybe your £500 buffer is enough “safety”…I see this challenge is almost complete!!! Or maybe this money completes that challenge. Guess this is how I would approach that envelope/savings…may or may not be helpful 🤷♀️
This is such good advice!! I’m going to have a buffer anyway in each envelope so I might use it to boost my buffer and maybe put £150 or so to holiday. Obviously 😂😂😂 xx
I have 220 in my energy still. Im leaving mine in there for this winter and if its still in there in March im gunna take it our and add it to my birthday fund xx
On the energy sinking fund, I would keep it where it is ! Two christmases ago, I was hit with a £700 energy bill out of nowhere, three weeks before Christmas. Luckily we were fine, but it could have really really affected Christmas if I wasn’t prepared !
@@irisbudgets It was awful. Someone from the energy company (this was back before we were upgraded to a Smart Meter) had come to read the meter months before and had imputed the reading wrong (basically as if we’d hardly used any electricity since the previous reading) so my direct debits had decreased drastically. I hadn’t noticed as I wasn’t budgeting or keeping track of my bills back then. When they came to do the next reading, they obviously inputted the ACTUAL usage so basically had to pay for 10 months worth of electricity in one go - and they gave me a month or a fortnight to get it paid (can’t remember, but just remember it was a fortnight from when I opened the letter). Luckily had the emergency fund to do it and it seems quite an isolated problem but I wouldn’t want anyone to receive that same bill in the first week of December and not know how to pay it !
Great condensing Iris 👏 oh I would leave the energy money as a buffer ….can always put it towards your hol next year but at least you have a buffer for the winter xx
This is really encouraging that putting 'just' £5.00 away really makes a difference! Thanks for sharing! I was fortunate enough to snaffle myself a Bee Binder - to go with my Moo Biner... Happy happy days! Thank you!!! Rx
With your energy fund extra, (with all laughter), I say buy your damn cushions woman! 🤣🤣🤣 What you don't use, I'd keep it in there just in case. haha Love you friend!
Even saving coins does add up. We are moving my son back to college tomorrow and he has a container of quarters for at least a few months of laundry. Love watching as always Iris.❤️❤️
Great as always Iris. Love a good cash condensing. Dunno what happened. I watch your vids on the big screen and always forgot to comment after. Hope you've been well. ❤
With the energy fund, I’d keep half in the buffer and redistribute/spend the other half. Most people are saying to add some to your holiday fund - go for it! 💖
Very satisfying! Love these videos. Could you add some of the energy money to your emergency fund? That way if you do get a big bill in winter you can take it from your emergency fund.
Its always great to look back at the month and see the progress. I would keep the energy bill money just in case. You can always move it arojnd later. ❤😊
Great progress on all your envelopes this month. I'd keep at least half of your energy fund in it's current home (in case you need it over winter - mini emergency fund) & use the rest to either fund other priorities or put it towards your holiday 😊 Whatever you decide, it's your money & therefore your choice 😎 xx
I would maybe leave the energy buffer till around Christmas, you never know when they will wack the prices back up again lol. You have done so well this month with how much you said you had been spending 👏👏
Love your cash condensing video! I find it hard to condense and put into different accounts cuz my bank charges a fee to have that account. I also hate spending the money I saved even though that’s what it’s there for. 😊
Great video as always. Love a good condensing. Need to do mine but it’s been a spendy spendy month 🤣. I think I’ll skip It till next month, might have something to count lol. Keep smashing it Iris xx
I love watching your videos so motivating and satisfying! ❤ When you show the amount you’ve got in the bank like the little picture in the corner, is that a app that you use or is it like your online banking?
Look at all them pretty placeholders 😍 always look forward to your videos ❤ .. ive just started up on here, feels strange hearing my own voice on a youtube video 😂👀 after 8 months of cash stuffing and just restarted your Christmas binder for Christmas 2024 😂🙈 also on round 2 of the 1k one. Grafting! 😂 .. I would keep some buffer as the prices aren't going down that much but also depends how much your paying in verses what your using. We are using around £80-£90 for both since April but pay in £165 so have a couple of hundred in the account to see us through winter extra. I think we will have a really cold winter this year 🥶 £5 really do add quickly, so looking forward to seeing how much is in your £5 challenge at the end of the year. Not sure what your doing with it but would be good towards your holiday spending money 😉 aswell as scouse girl & ira! ❤ I'm loving how much that holiday fund has built up already! Definitely going on that second trip, before the first 😂🎉 the 10k is coming on great already. X
I've got £400 my emergency energy fund. Knowing my luck I'd move half of it elsewhere and the government will change their mind and hike up the prices again 🤦👊.... plus I refuse to be cold 🥶😂
The energy prices will rise again in December according to Martin Lewis it will be up and down every 3 months I would keep £100 then put the rest towards your holiday x
I would save some of your energy buffer as winter is coming so you may need it but you can also move it to something else you would like to use the money for 😊 like half and half 👌 Your buffer is coming along nicely 💪 Awesome almost £9000 🙌💗💙💗
