How to stop spending?

13

Comments

  • The wait 24 HR rule is good. Previously when I've added something into my amazon basket and then got distracted I forgot all about it. I rediscover it days/weeks later and think "what on earth did I want that for? Delete!"

    So doing it deliberately will be a good habit.

    Deleting card detail cookies also a good idea. I'm so lazy that often when I'm online shopping and I have to go and find my card for the details or cvc number I abandon the whole purchase!
    Savings:
    Emergency 404.38/1000 Car 200/600 Christmas 250/800 Holiday 250/600
    Grading 30/90 presents 40
    Total debt Jan 2018 53,938
    April 2018 47,780.52
  • fiisch
    fiisch Posts: 509
    First Anniversary Name Dropper First Post
    Forumite
    A £3.50 saving per day:-

    (1/2 pack fags, pint half beer, coffee and croissant at Starbucks)

    paid into an UK average sized mortgage at 3% interest will save you

    £11,080 in interest charges and you will pay the mortgage off 6 years 7 months earlier.

    It's been awhile since you smoked I am guessing?!

    £9 a packet, and that shopping list is more like £10/day!
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,446
    First Anniversary First Post Name Dropper I've been Money Tipped!
    Ambassador
    The best way to cut out silly spending is to record what you spend on everything. I have a spreadsheet which I fill in every few days with any spending done. The categories range from food/fuel to entertainment, eating out, household, personal expenditure and gifts. It is pretty clear when I am overspending and I have budgets which I try not to go above. You could try doing something like that.

    Limit the takeaways and coffees out. I only go out for coffee/lunch when with someone else and make it a social outing. We have takeaways rarely, maybe one every couple of months as we prefer to eat out in a restaurant and would rather save for a night out than waste the money on usually unhealthy takeaways.

    Take your card details off the amazon site and maybe limit yourself to only looking on there when there is something you actually need.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • foxgloves
    foxgloves Posts: 11,027
    First Post Name Dropper First Anniversary
    Forumite
    I used to fritter money away pretty much as you described. Having changed my attitude to money entirely, I can tell you that there is simply no bag of tat I could come home with now that would make me feel as happy as finally being in control of my finances.
    Frittering money is a choice. Make a different choice. Next time you are sending out for a takeaway when you could quite easily cook yourself a tasty 'Fake-away' for a fraction of the cost, just make a different choice. If you choose to continue frittering money away, than you will have to accept that you are actively choosing debt. Been there, done that, could write the book! Commit to making different money choices & you will be putting yourself on a much more secure path.
    "For each of our actions there are only consequences" (James Lovelock)"For in the true nature of things......every green tree is far more glorious than if it were made of gold & silver" (Martin Luther King Jnr)
  • Frogletina
    Frogletina Posts: 3,865
    First Anniversary Name Dropper First Post
    Forumite
    I went through a phase of only taking out £5 a day.

    When you are in a shop with £5, you are faced head on with making choices. It's not always nice to limit yourself but it is good training to know what you really want at that moment and what can wait for another day.

    After a while, it becomes easier even when you have more money. Today I went into my local supermarket and only came out with milk and a cucumber.

    I now budget a set amount of money for groceries, personal spending, eating out etc. If I spend more in one area, I would have to reduce another area - but this happens very rarely.

    frogletina
    Not Rachmaninov
    But Nyman
    The heart asks for pleasure first
    SPC 8 £1567.31 SPC 9 £1014.64 SPC 10 # £1164.13 SPC 11 £1598.15 SPC 12 # £994.67 SPC 13 £962.54 SPC 14 £1154.79 SPC15 £715.38 SPC16 £1071.81⭐⭐⭐⭐⭐⭐⭐⭐⭐Declutter thread - ⭐⭐🏅
  • adindas
    adindas Posts: 6,805
    First Anniversary Name Dropper First Post
    Forumite
    edited 13 January 2018 at 6:34PM
    Like other have said, self-control. Most people could do this, so unless you are completely a different individual, you should be able to do this as well.

    Keep in mind:
    · Your primary needs the things you need for survival. This thing includes basic shelter (not luxury flats), basic food (not take away all the time), basic transportation to work. Thing other than listed above just deems to be secondary need and avoidable.

    · If you still cannot do it, when you want to spend something other than primary needs, think about asylum seekers, illegal immigrants living in the EU they could live presumably with much less than to what you earn. They are human like you and If they could do it, all of us could do it as well if we have to.

    · In most extreme things, when you want to spend something other than primary needs, think about the people living under extrem poverty in under developed world, in wore torn countries, they could still live with much less than what you earn. If they could do it all of us could do it as well if we have to.
  • Sharon87
    Sharon87 Posts: 4,011
    Name Dropper First Anniversary First Post
    Forumite
    I'm also trying to stop spending on needless things like takeaways and eating out. I've decide to put a modest budget towards that each month (£20 this month), so as soon as that's gone it's gone. I have also put a block on Just Eat and Hungry House and other takeaways on Chrome. So if I want to order I have to unblock it before I can order. It has discouraged me once from ordering in, but I really didn't want to cook or wash up or anything, so instead of ordering and spending £12-£20 on a takeaway I spent £6 going out to get food instead, keeping me in my budget for the month. I currently have £3ish left in my takeaway budget for this month. If I really couldn't be bothered going out, then I would have had to settle for what's in my kitchen.

    I try to keep easy cook meals in my freezer, either pizzas or leftovers from previous meals, so I can just put them in the oven or microwave and use them.

    Anything that makes your life more difficult in spending money will help you, so do as others have said - remove credit card sites, or block sites (you can unblock it when you really do need something),
  • I actually top up my amazon account with about 60quid every month and that's my budget. So it's quite good as I have 13 left, but pay day's not until next Friday, so I'm not buying anything until I top it up again cause it's good to have that money there in case I need it for something.
    I also don't get takeaways anymore. I just normally get some of the better frozen takeaways from Iceland if I really want something, but mostly I use my slowcooker. I throw some food in the morning - I prepare meals in bulk and put them into ziplock bags and put them in the freezer then I can thaw them out the night before and throw them in the slow cooker with some extra water or whatever in the morning. You can fry onion in the slow cooker as well on high heat so that's literally the only cooking I do before I put the bag in and go out for the day.
    It makes a huge difference having your meal just ready when you come home.
    Debts: ASDA Loan - £6,848.01
    Xmas Fund: £15/700 2%; Holiday Fund: £256.05/2000 12.8%; Emergency Fund: £25/700 3.5%;
    VSP: £127.44/300 42.4%
  • sweetpea26
    sweetpea26 Posts: 831
    Name Dropper First Post First Anniversary Rampant Recycler
    Forumite
    edited 15 January 2018 at 7:59AM
    Remove your card/payment details from Amazon etc, makes you think twice before placing that order when you have to dig out the card.

    I did this yesterday !!!!!

    some great tips from very sensible people.:T

    The best thing that I have done is to take cash out at the start of the week and that is the budget for the week....no more .... no adding onto credit card or using debit card. I now think about what I NEED ! rather than ohhh I want that. ! I now have a feeling of control that is priceless.

    I am a keen gardener and love to browse amazonia searching for lovely garden furniture...I now as I have said above taken my credit card details of amazon. I am presently saving cash in a box every week and if I do need :) something for the garden when the sun starts to shine again. I have the cash saved. If I need to buy it on amazon .. then I will use my debit card and the cash I have saved will go into household budget. No need to take cash out to buy food as its in the box !! Thats the plan.

    I also have a bit of money in my weekly cash budget to buy reduced meats. This weekend I bought £9 worth of pork chops for £5 .. a cash saving of £4... £4 can buy milk bread and bit of reduced fruit.
    Chops have been bagged in pairs ... they are massive ! So I now have one pork meal for hubby and I for the next £4 weeks !
    Bacon down to by 2/3...breads reduced to pennies..all the savings add up. It is amazing what you can do if you really take time and plan.

    COOK FROM SCRATCH !!!!!!!!!!!!!!!
    Shop from your freezer and fridge...
    meal plan for the week ahead
    check reduced sections first before you buy anything !!!
    downgrade some of your products...we have bought hp sauce for years I now buy the Sainsbugs basic ... at least half the price and it is delicious.
    buy only what you then need to feed your family ..
    wish I had this sense in my 30's :):):)

    A spending diary is essential...I write down every single penny I spend. At the bottom of the page each day I put a total spend. At the end of the week I do a written total. This is an eye opener and gives you that feeling of control that spending wrecklessly and needlessy ever will.
  • adindas
    adindas Posts: 6,805
    First Anniversary Name Dropper First Post
    Forumite
    edited 15 January 2018 at 8:04AM
    sweetpea26 wrote: »
    I did this yesterday !!!!!
    COOK FROM SCRATCH !!!!!!!!!!!!!!!
    Shop from your freezer and fridge...
    meal plan for the week ahead
    buy only what you then need to feed your family ..
    wish I had this sense in my 30's :):):)

    You forgot something quite important in reducing your shopping bill for primary needs. If you are living not far from a chain supermarkets, buy "reduced item (Yellow Label)" in the supermarkets as much as you could.

    Observe it when they reduce the price of nearly expire item. They will normally reduce the item in three stages,. The best price is the final reduction in stage three

    Supermarkets are normally do the final reduction about an hour before the shop is closed. Asda do it around 19.00 - 20.00 o'clock.

    Imagine how much you could save if for instance a whole chicke cost you £4.00 and you get it for 50p (say). Doing this it is not just saving you money but you are also contributing in saving the planet & enironment.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards