hoow do i stop spending?

Taloolah

I find that staying away from the shops helps me. I used to go shopping as entertainment with friends. Wandering around the shops always mean't I would end up finding things I didn't really need, but wanted on the spur of the moment. I would come home with impulse purchases a plenty and these things were rarely ever worn or used. I now do my shopping for food with a strict list that I stick to and I only hit the high street if there is something I really need to buy.For entertainment we now go to each other houses, swap clothes we no longer want and use discount vouchers for cinema, bowling etc. I have been really surprised at how much money I have saved enough for a nice holiday next year,

snowqueen555

Great ideas!

Yes, its clothes and things like that. I am stingy when it comes to haircuts and food etc, but when it comes to clothes I really just throw caution to the wind!

Well I've paid most of my bills for January (out of the OD of course), and given my card to a relative to hold onto for at least 7 days. Luckily its a new card (long story I ripped up my old card in one night after being fed up) so I don't remember the number and can't use it.

Interest on the OD isn't lot either, it about £4 per month

The real problem I have is not socialising, I get anxious if I don't see my friends or stay connected within my social circle. Its all about clubbing and parties and eating out for my friends, kinda hard to not go.

Using the New Year as a starting point to clear my debt, fresh start and all

Thanks!

gfplux

Why not be honest with your friends and tell them you are in money trouble and must stop spending.
Pride can get in the way of sorting your debts.

Ames

gfplux, that's fine, but not many people understand that. I had a group of friends who thought nothing of spending over £100 on an impulse buy handbag, while I was on income support. It's really hard not to keep up with the Jones', especially when they can't comprehend that not everyone has the same amount of money as them. In the end I got new friends!

Now, when I go out for a meal we work out to the penny who owes what, instead of just splitting the bill. (one day we'll also remember to take change instead of all sitting there with a £20 note wondering how to sort out payment!).

I think you have to do what Taloolah says, suggest alternatives, like meals at each others houses where you all bring a dish, or something like that, which is cheaper, if you just say 'oh I can't afford that' then they might just bully you into it anyway. Coming up with an alternative then saying how it'll be cheaper and better for everyone will probably work better.

naughtymittens

Can you open a new bank account and get rid of the card with the OD account. Then treat the OD as a debt and pay it back monthly? That way you can only spend what you have in your bank and once it's gone it's gone.

I find using cash helps me. Take out a set amount each week.

My friends are similar and I find ti hard to say no but now I just say that I'm a bit skint at the minute, trying to get my finances in order. Or say you're saving up for something if you don't want to say you have money troubles.

*Jellie*

I've used lots of the ideas above.
In the past I've frozen the credit card in water so I only use it in an emergency.
I found the 100 day challenge really useful. I gave up some of the things I splurge on for 100 days. So far I have tackled buying magazines, clothes (not underwear), diet coke, toiletries and cleaners (unless something actually runs out and is essential to replace). I've found after doing each challenge for the 100 days I've then lost the urge. I've only bought 1 magazine in about 6 months, the only clothes bought since the challenge have been needs rather than wants.
This has been a major help in me reducing splurging this year.

euronorris

snowqueen555 wrote: »

There just always seems to be a reason to spend extra, like a family birthday, christmas, new years, vet bills. Its tough

I know we often think of these things as extra's, but they're not really.

Most of them come around annually and so you should incorporate a monthly amount for each into your budget. Put that into a savings account at the start of the month, and then, if you need to get a present etc, you have the funds available in the savings account. But, do set a realistic budget for them and then stick to it (the hardest part).

Also understand the comment about socialising. I used to be the same, but in the end, I had to do what was best for me. Some of my friends at the time didn't notice I had stopped going out as much. And the good ones stuck by me and welcomed the prospect of cheaper nights out/in.

My advice would be to reduce the social budget gradually. Makes it easier, at least it did for me.

Jewelleryfan

euronorris wrote: »

I know we often think of these things as extra's, but they're not really.

Most of them come around annually and so you should incorporate a monthly amount for each into your budget. Put that into a savings account at the start of the month, and then, if you need to get a present etc, you have the funds available in the savings account. But, do set a realistic budget for them and then stick to it (the hardest part).

Also understand the comment about socialising. I used to be the same, but in the end, I had to do what was best for me. Some of my friends at the time didn't notice I had stopped going out as much. And the good ones stuck by me and welcomed the prospect of cheaper nights out/in.

My advice would be to reduce the social budget gradually. Makes it easier, at least it did for me.

I recently told my friends that i couldnt go out for New Years and probably couldnt keep going out for dinner after work, cinema at the weekend etc etc. I explained that im in the middle of buying my first flat and with a not very well paid job, im struggling

Most of my friends fully understood as they were or are in the same position and a few are saving for weddings and babies.
But one friend's attitude really upset me, she asked me why i was doing something so stupid as i have little spare money now, so i had to explain im doing it for my future and to get on the property ladder etc. She then said she wouldnt have been able to pay half the deposit i have, so i put her reaction down to being jealous :rolleyes:

I would explain to your friends, im sure they will support you and its more fun thinking of free/cheaper things to do and place to go too

Good Luck! :j

SkintMonkey

I totally understand that feeling that you cannot stop spending. I've got a credit card debit which has been around for years and I'm just about to take a deep breath and go online and check the balance of my current account - but I don't expect it to be good!

I seriously cannot do this anymore, it is getting ridiculous. So, I'm going to keep cash and only cash with me and use that. I've got some cash for Christmas which I'm going to try and last as long as possible - the only cost I can really justify (other than bills/mortgage/food) is petrol, so I just need to make sure I have plenty in my purse for that. I think I will leave my payment cards safe at home away from temptation....

Earlier my husband suggested we go into town, as we've not really looked at the sales, but I've said no. I don't need any new clothes and I want to save not spend. He was really good and said that was cool and suggested we just went out for a big long walk instead whcih was lovely.

I've also got to have willpower when it comes to presents. I'm seeing my sisters family at the weekend and I bought their pressie a couple of months ago, but I'm doing the usual thing of thinking that maybe I should get something extra, but as I've also bought their kids pressies, I think what I've got for them is enough.

I'm nearly 30, I need to finally get a grip of myself and stop this stupidity.

Maybe we can support eachother snowqueen555 to get this spending bug beaten once and for all.