Keep me on track to save!

*Vikki*

MrsTine wrote: »

And if your parents are struggling why don't you suggest paying them more rent???? I'm sure that £150 no where near covers the cost of you living with them...

Yea I have, I used to pay them only £100:o I put it up to £180, I'm finding that a bit of a pinch too but will definitely keep paying that amount. That includes my BT broadband too:o

MrsTinks

I think there are other savings accounts where there is a time limit on how quick you can get the money back out like 30 days - hopefully enough to stop you impulse spending it but not too long so if you want to move out it'll take too much time to get it for your deposit etc

*Vikki*

roves1 wrote: »

Unless you bank it regularly, tins of coins are not a good investment, they pay no interest. Premium bonds currently pay 1.8% tax free (probably go down again soon), and nothing if you don't win, also not a good investment. Saving is ultimately for future spending without incurring interest, dealing with unexpected expenditure. After you have paid out all your mandatory bills, save at least a half of what you have left, more if possible, and don't save a penny if you have any debts incurring interest (overdraft, credit card, whatever). If you want to do this, you need to get out of the spend it now mindset, you don't know what is around the corner, and one day you will need to move out. Car habits can be an expensive hobby, view it as a means of transport, not a status symbol.

Good points there... I am a bit of a nut with my car, thats how i started spending s much on her. Sad as it sounds its my hobby, everything to me I love the car to death!:o I live and breathe the car its my passion:o

The half of what I have left is good idea too. Trouble is I am never satisfied with what I have it seams. I allways want more, I have been spoiled as a child, well even now in a way!

I really want to get out of the spend it now mindset but its so hard, thats why I think I have something wrong with me? Some people have said to me at the end of the month put whats left in your bank account in to savings, trouble is if its there i'll spend it. There is allways something I want or could do with the money.:rolleyes:

*Vikki*

MrsTine wrote: »

I think there are other savings accounts where there is a time limit on how quick you can get the money back out like 30 days - hopefully enough to stop you impulse spending it but not too long so if you want to move out it'll take too much time to get it for your deposit etc

They sound good though, are they safe though? I quite like the NS&I ones as they are safe it seams..

I'd love to be able to get a house one day, but my wage just wouldn't get one and I am worried if I did get one, if I loose my job i'm stuffed. If I had it my way, sad as it sounds i'd stay at home forever lol

*Vikki*

Quite cool I sold my old laptop on ebay for £100! So I can pay some of that off my laptop! Going to find some other bits I don't need too now to pop on there.

Where can I put a spending diary on here? I think that would be useful, to track where I do waste money. I like the idea of that as it makes you wake up with money. Also I like the spreadsheet idea where you track what you have spent all year. Perfect to start it now.

Trouble is I think happyness is spending money! I don't know kinda how to be happy without it? Sad really..

*Vikki*

Yea thats why the insurance is £400, like for like cover. It would be about £150 I think. Yea your right, I don't want another car as I love this one too much and I have learnt my lesson never to modify a car again as it just costs so much money! Its addictive.

*Vikki*

Yea I have thought that too, that perhaps instead of spending my money on gadgets I should spend it on holidays and days out and things. Which I also do but not so much on gadgets.

Its very bad, I do want to change, I don't know why I am so materialistic.

kathfisch

*Vikki* wrote: »

The half of what I have left is good idea too. Trouble is I am never satisfied with what I have it seams. I allways want more, I have been spoiled as a child, well even now in a way!

I really want to get out of the spend it now mindset but its so hard, thats why I think I have something wrong with me? Some people have said to me at the end of the month put whats left in your bank account in to savings, trouble is if its there i'll spend it. There is allways something I want or could do with the money.:rolleyes:

These are issues that you need to think about, it will help you to stop spending if you can deal with *why* you spend even when you don't want to (or part of you doesn't want to).

Try to distinguish between *want* and *need*. Yes, there will always be something we 'want' or 'could do' with money... but how often are these things that you actually *need*? That means totally necessary and that you couldn't do without. Not *wanting* to go without and not *being able to* are different. Before buying anything, ask yourself if you really need it.

Do you like a challenge? Perhaps rather than the negative of 'stopping spending' you could turn it into a positive 'start saving' challenge. Set yourself some targets and plan a small reward (preferably free!) when you meet them.

kathfisch

*Vikki* wrote: »

Its very bad, I do want to change, I don't know why I am so materialistic.

Wanting to change is a good first step

There are many reasons people spend in similar ways to you. For me the reasons were emotional. A mixture of low self-esteem, boredom, feeling that I wasn't 'good enough', not having many friends to spend time with and things to do to keep me busy, being unhappy with my body, feeling as though I 'deserved' it because of things I was going through. Any of that sound familiar?

Also, don't be fooled by all the things other people have and how 'well' they appear to be doing financially. Chances are, their new and shiny things are bought on credit and their behaviour is not sustainable.

*Vikki*

Thanks, yes I do like a challenge, I think thats why I get more reward out of challenging myself to make money to pay off my debt. I like selling things on ebay and seeing the money come in. Selling things makes me really appreciate money more, as its so hard to get sometimes! I am very disciplined when having to pay money off things and I actually hate owing money. I will leave myself without anything to pay off something. When it comes to saving I am not so good which is odd. Yea I think I have done that before that 'want' and actually 'need' thing but my devil inside me says do we actually really 'need' anything in life? apart from food, shelter, basic clothing. Which makes me think why bother going to work? As for those needs I could just claim benefits.

Why I spend it because I get a kind of 'thrill and excitement' out of spending money. Kind of like the hunter gathering instinct from tribal times lol

Trouble is with me I have been told I am ether one or the other. I ether skin myself to save to pay off debts etc or spend and dont save. Nothing in between..

Its kind of when I know I cant spend as I am cutting back I crave to spend. Its a bit like dieting, when you say I am not going to eat any sweets for a month I crave and want them more than any other time.

Hey guess what songs playing on my radio 'the best things in life are free' lol