Please help me do this?

loobie

According to my SOA, I should have £151 left every month. I am looking for a way to make sure that I can start to save this amount of money and still meet all my commitments.

All of my direct debits are spread throughout the month, and I have a £300 interest free overdraft which I really don't like to use, if I can help it.

Is there a way I can save my “surplus” money each month with it getting swallowed up by other payments and frittered away on stuff we don’t need.

I thought about taking it out, along with the grocery money, when I get paid every month as I get paid on the same day each month, but I have a nasty feeling that that would take me into my overdraft, even though it would even out over the month.

Does anyone have any other ideas?

TIA

p00hsticks

I think it's going to depend on exactly how you handle your spending throughout the month. How do you budget throughout the month ? Do you pay everything by direct debit, withdraw cash, check your online balance everyday ?

Personally, I have an e-savings account linked to my current account. I log on each pay-day, see how much I had left in my account just before my pay went in, and move that amount over to my e-savings. That way, I always start the month with the whole of my salary - no more, no less - in my account. And if for some reason I know I'm going to have an expensive month (last month I had brought a washing machine on my credit card, so had a large bill to pay off) then I can always go in and move some back from my e-savings with immediate effect.

If you did something like this for a few months it would show if you really do hav that £151 spare each month or not.....