How do you stop squandering small bits of money?

peaceandfreedom

Hi everyone,

I read these boards every day for ideas and just re-assurance really. I am struggling to keep my head above water at the moment (self-employed but no work on at the moment). I seem to have improved when it comes to not spending large amounts of cash but I keep squandering smaller amounts, on entirely unnecessary things.

For example, today I bought a lovely chopping board in a charity shop for 50p. Had been looking out for one for ages, so really pleased with this. Then, what did I do? I bought a coffee and a piece of cake for £4.05!!!!

Even as I was eating it, I wasn't enjoying it and was regretting buying it. I keep doing this sort of thing, it's madness. As penance, I put some more things on sale with amazon.

How do you all stop yourselves wasting money like this? Is it just pure will-power (I don't seem to have very much :undecided ).

Any tips to stop me doing this?

**Amy**

Hello :hello:

Personally i allow myself a set amount a week that I can spend on things like cake (mmmm) etc. This is around £10. Once its gone, its gone.

This really helps me as its nice to be able to treat yourself.

Cornishpixie_2

I tend to limit my trips into Town, not easy as I live on the doorstep. Also I've stoped having cake in coffee shop, so on the day I decide to go into town, I have a coffee, then buy a snack, which I can eat out of my pocket, whilst wandering around shops. I never buy anything, unless I need to. If I need something I write a list and stick to it. I also enjoy walking and running which keeps me away from the shops. Join the library, find a good book, and take a picnic/ or flask and snack to local park or beach. I also have an Ipod, which helps. HTH.

moneymabel

Hi there!
similar idea to amys is to work out how much spare cash you have after bills, payments etc each month, divide it into weeks and withdraw it each week from your bank, this is the only money youre allowed each week, you can spend it on rubbish or you can use it to pay a bit more off your debts, it motivates you to think before you spend. Put in your sig how much you have at the start of each week and write down everything you spend , youll be suprised how you can resist that piece of cake when it is staring you in the face in your sig that it cost you 4 quid lol!!

Idiophreak

Have to say, I don't find it too hard to cut this stuff out, in fact I'm quite interested when I read the things people fritter money away on...

On a daily basis, I have brekkie, take lunch to work then eat at home...Not really any option to fritter money there...At the weekend, I'll either do something, a bike ride, go somewhere, etc or I'll do nothing - just sit and watch the TV etc...None of these things seem to give me a chance to squander any cash...and, tbh, it's extremely rare I actually have any cash on me, so rarely do I use it.

I guess the only thing I really waste money on is parking...I guess I could park further away sometimes when I go out to dinner, but that's about it...

dancingfairy

what I do is at the end of the day I tidy my purse and take out all the coins 1p's , 2p's 5p's etc and leave myself with just a couple of pounds and a maybe a 50p and a 10p. Just enough if I really need it. It stops me then as I hate breaking into a note and all the spare change can build up in my piggy bank.

peaceandfreedom

Thanks everyone for replying. It looks like it's down to a combination of better planning, and more willpower.

amy and moneymabel - I like the idea of giving myself a set amount every week - a bit like pocket money. That way, my spending is controlled and I also don't have to feel guilty about buying the odd latte. So I'm going to do that.

cornishpixie - i don't go into town that often, but I always seem to have to have a coffee whenever I go anywhere. Will invest in a flask instead, one that can fit into my bag, and that way I can enjoy a free hot drink without wasting money.

idiophreak - we are clearly total opposites, since the one thing I never waste money on is parking, I have this thing about paying for parking and will go to almost any lengths to avoid it.:D

dancingfairy - I already save most of my loose change, but sadly have no qualms about breaking into a nice fresh new note, nor any qualms about withdrawing nice fresh notes should I need them. What I will do though is keep more track of what I spend, so that I can see at the end of the week what I've frittered away.

Thanks again everyone.

icka

Hi I used to be the exact same as you, I would be so good and then have a latte and a muffin.

So I had given myself an alternative - it may not work for you but it makes me feel better. I have given my self money like weight watchers points.

I had £14 per week pocket money, £2 per day to use how ever I liked. I could save up the money from NSD (no spend days) and carry them forward. So if I really wanted coffee and a muffin I would know that was 2 days worth. Which for me was not really worth it. But if i had to have something I would have a tea instead which is about £1 or so, which made it better.

But knowing I only had so much "Treat money" usually made me think carefully about using it, so you could save it up to treat yourself to a facial or something thats really worth it.

I wish I had of stuck to this myself to the letter I only lasted for a few months and then I got sick and things went pear shaped, but as soon as I sort myself out Ill start again.

Its like weight watchers you dont deny yourself anything you just have to save up your points

tallyhoh

I calculate how long I have had to spend at work to buy fripperies. For example a coffee & cake would equal nearly one hours wages.

Now if your boss said to you "work one hours overtime & I will give you a cup of coffee & a cake" where would you tell him to go!??:p

tara747

tallyhoh wrote: »

I calculate how long I have had to spend at work to buy fripperies. For example a coffee & cake would equal nearly one hours wages.

Now if your boss said to you "work one hours overtime & I will give you a cup of coffee & a cake" where would you tell him to go!??:p

That's a really good tip! Also, the MSE Demotivator is very good. I never buy coffee, magazines, lunch at work or any of that typical money-wasting stuff, but I started a spending diary and was shocked at how I spent little amounts on things that are very cheap - it really adds up over a week/month! Pennies makes pounds and all that...

All the tips above are great, it really does help to think before you spend, give yourself a set amount of 'pocket money' each week, weigh up the opportunity cost of the thing(s) you're about to buy and keep a spending diary.

Fascinating thread BTW!

tigerfeet2006

I keep a spending diary. I have a little note book that I put the date in each day and then I write down EVERYTHING that I buy. It really focus's the mind when I look back over the week and month and tot up what I have spent and what on. I feel so much pride when I see a date and nothing underneath and love totting up the days I have NSD's. So sad I know :D

Oh! and popping things in the Demotivator helps as well.
http://www.moneysavingexpert.com/protect/demotivator/