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  • FIRST POST
    • MagicMoneyTree
    • By MagicMoneyTree 7th Sep 17, 4:43 PM
    • 9Posts
    • 4Thanks
    MagicMoneyTree
    Avoiding the temptation to spend!
    • #1
    • 7th Sep 17, 4:43 PM
    Avoiding the temptation to spend! 7th Sep 17 at 4:43 PM
    Hello everyone,

    I'm keen to hear about all the weird and wonderful ways people avoid the temptation to (over)spend.

    I'd love to hear your tricks / techniques, products or services that can help.

    A few funny ones I've heard recently:

    1. Buy loads of Oyster cards with your spare cash. Each one requires a refundable £5 deposit, but you can only get it back in a station ticket office, which is a pain to get to usually closed when you're most tempted to spend.
    2. Open up a credit union account in a neighbouring town where you can only withdraw in the branch. If you work office hours, you'll have to take time off work and travel to get at your money.
    3. Fold up a £20 in your wallet, then spend on your debit card until you run out of money, then pull out the £20 and make it last to the end of the month (not sure I'd recommend this one!)

    Cheers!
Page 1
    • eskbanker
    • By eskbanker 7th Sep 17, 5:47 PM
    • 5,466 Posts
    • 5,270 Thanks
    eskbanker
    • #2
    • 7th Sep 17, 5:47 PM
    • #2
    • 7th Sep 17, 5:47 PM
    There wouldn't happen to be a budgeting app that would help with this by any chance, would there....?
    • MagicMoneyTree
    • By MagicMoneyTree 7th Sep 17, 6:01 PM
    • 9 Posts
    • 4 Thanks
    MagicMoneyTree
    • #3
    • 7th Sep 17, 6:01 PM
    • #3
    • 7th Sep 17, 6:01 PM
    Yet to come across one that locks your money away so it's hard to get to (the one I'm involved with doesn't)
    • Robisere
    • By Robisere 7th Sep 17, 6:10 PM
    • 1,733 Posts
    • 2,528 Thanks
    Robisere
    • #4
    • 7th Sep 17, 6:10 PM
    • #4
    • 7th Sep 17, 6:10 PM
    It's called Willpower. Sadly lacking in many people today, hence the massive amount of Credit debt in the UK. That little voice that says "You cannot afford this" is drowned out by a louder voice which says "BUT I WANT IT!"
    There may be more than one way to skin a cat.
    But the result is always inedible.

    • Newly retired
    • By Newly retired 7th Sep 17, 6:45 PM
    • 2,315 Posts
    • 2,687 Thanks
    Newly retired
    • #5
    • 7th Sep 17, 6:45 PM
    • #5
    • 7th Sep 17, 6:45 PM
    People, not possessions.
    • datlex
    • By datlex 8th Sep 17, 1:18 AM
    • 1,313 Posts
    • 1,093 Thanks
    datlex
    • #6
    • 8th Sep 17, 1:18 AM
    • #6
    • 8th Sep 17, 1:18 AM
    The Oyster Card suggestion is only an option for folk who live in and around London. Those of us who live up North can't do that. I find the mantras helpful. Adjusted slightly: "Can I get it for less else where / something better for same price elsewhere" "Am I actually going to use before I have the opportunity to go to the shops again" "Do I actually need it"
    • vouch0r
    • By vouch0r 8th Sep 17, 5:21 PM
    • 179 Posts
    • 34 Thanks
    vouch0r
    • #7
    • 8th Sep 17, 5:21 PM
    • #7
    • 8th Sep 17, 5:21 PM
    i used to buy so much stuff and now im the total opposite.

    its jus STUFF. it doesnt make you happy and thing like Tvs phones cars etc get old very quick and human nature is to get bored of them and upgrade

    try watching the minimalists on netflix. real eye opener.
    • Anthorn
    • By Anthorn 9th Sep 17, 8:33 AM
    • 3,101 Posts
    • 797 Thanks
    Anthorn
    • #8
    • 9th Sep 17, 8:33 AM
    • #8
    • 9th Sep 17, 8:33 AM
    As stated before in this thread, Will Power.

    I got into the habit of not spending back in 2008 when I crashed along with the banks and my employer. When your income drops from £30K a year to 64 quid a week you sit up and take notice. Basically, I only spent on essentials and essentials doesn't include broadband internet access, because I didn't have money to spend. Right now I'm very far from being almost destitute but I'm still thrifty. In some ways those days back in 2008 educated me on the value of money.

    I don't see the value in this context of a Credit Union mentioned earlier in this thread. You would be encouraged to save, borrow and spend and that is the opposite of what the OP is looking for.
    Last edited by Anthorn; 09-09-2017 at 8:36 AM. Reason: Last paragraph added
    • Novice investor101
    • By Novice investor101 9th Sep 17, 9:43 AM
    • 47 Posts
    • 17 Thanks
    Novice investor101
    • #9
    • 9th Sep 17, 9:43 AM
    • #9
    • 9th Sep 17, 9:43 AM
    I used to have all my accounts (current & savings) with the same bank, & all visible on their mobile app. This made it too easy to dip into the savings & move or spend money.

    So due to this & the woeful interest I was getting from my bank I shifted all my savings to Virgin & also set up a regular saver & a standing order to pay into it the day I get paid.

    This leaves my savings in a place I can't see them on the App or get at them easily enough to make impulse purchases. I just live off the money in my current account & make it last now, as it feels like that's all I have.

    I do have a "bills" account on the App where I put £125 a month to pay for things like car insurance etc & other once yearly bills, but I never dip into this from years of habit (probably cos I already consider it spent).

    Work's perfectly for me.
    • RG2015
    • By RG2015 9th Sep 17, 11:28 AM
    • 297 Posts
    • 106 Thanks
    RG2015
    When I was a child I often looked in the window of our local toy shop. One day I might get that James Bond Aston Martin. When I eventually got it I was excited for all of 5 minutes and went on to the next toy in the window.

    I gradually realised that the desire was far greater than the reality for almost everything in life. It is as true in 2017 as it was in 1965.

    If I ever had the temptation gene it is now long gone. There is no need to spend any more once you have what you need. It is all in the mind.
    • PeacefulWaters
    • By PeacefulWaters 9th Sep 17, 12:26 PM
    • 6,851 Posts
    • 8,437 Thanks
    PeacefulWaters
    I'm in the "get a grip on yourself and don't buy meaningless crap" camp.
    • binaryuniverse
    • By binaryuniverse 9th Sep 17, 1:02 PM
    • 368 Posts
    • 170 Thanks
    binaryuniverse
    i used to buy so much stuff and now im the total opposite.

    its jus STUFF. it doesnt make you happy and thing like Tvs phones cars etc get old very quick and human nature is to get bored of them and upgrade
    Originally posted by vouch0r
    This is where I am at the moment. As Mr Spock once noted 'Having is not so pleasing a thing as wanting. It is not logical, but often true'.

    I've not upgraded my PC in quite a few years. Mainly as it does exactly what I need it to do. I don't need a number crunching CPU to run my applications
    Similar with my phone. I had a Galaxy S3, which I was quite happy with, but wanted 4G. I upgraded to an S5, purely for that reason. Once the contract ran out, and EE were sending me the 'upgrade to new shiny' messages, I switched down to a sim only plan. Sure I could get an S7/8, but I'd be doing the same things I do with my S5... just ever so slightly faster, which isn't worth some £400 over 2 years to me. As long as the phone works, then I don't need to get a new one.

    Also, I have one main bank account I use for spending and bills. Money saved (I move £600 out, the day after my salary goes in) goes in to my other, interest paying accounts, and is not treated as money I can spend. The debits cards are put away in a drawer at home. Not in my wallet. Therefore I live within the small budget left in my main account.

    About 9 years ago, I barely had any money and wanted buy loads of things. Now I have a lot of money but don't see the need to spend it on needless upgrades/stuff I'll barely use.
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