Can't work out what is stopping me...

debtdesperado

I have just realised that I have 94 pence left in my bank account to last me until pay day, at the end of the month - so about two weeks to go.:eek: I have paid everything I need to, so I just have to find day to day spending money and food.

I have done an SOA and got everything as cheap as possible, but I am having real trouble finding the self-discipline to track my daily spending. I can't work out why.

I should have about £250 left over after paying all my bills which should be tight, but frugally do-able.

Has anyone else had trouble with keeping track of what they spend every day? If so, has anyone else overcome it - what did you do? What helped?!

I'm not very technical so setting up a spreadsheet is out of the question, but I have started to carry a little notebook and pen around...but I don't use it. I have also tried wrapping the receipts around the cards in my purse, thinking that I would tot them up at the end of the day/week, but I don't do that. And then I buy something and say I don't want the receipt. It's like I have total mental black out when I spend money and it's getting harder and harder to resist the lure of the credit cards to 'top up' until the end of the month.

Has anyone got any suggestions of what helped them get in the habit (other than pure fear? )

RAS

What one OP suggests is that you divide the money by 4 (if paid four weekly) or 4.3 if paid monthly and only spend that much each week.

Take it out in cash and stop using the cards.

What I used to do when on benefits was to pay the essentials, then either buy or put aside money for any special purchases (anything that required money from more than one giro) and split the rest into weekly sums, rounding up the first week slightly. That recognised that I had a pretty empty larder and that some of the things i bought that week would be used in week two, for example.

I found it really helped to keep this money as cash.

josephine82

What helped me was going through my bank statements for the previous 3 months and listing what I had actually spent my money on.
Seeing the amounts of cash you draw out and having no idea what for, or totalling £35.00 in Stabucks in one month can really shock you into taking some action.
Of course, you need to want to change- do you have debts to pay off?
You mention that you should have £250 left after everything- this is quite a lot- I live on £20-£30 a week after bills and everything is paid.

The spending diary is the way to go when tracking your spending but your have to be honest with the things that you buy and the money you spend.

Can you put money buy for food at the start of the month so you don't run out halfway through the month? I put £80 into a separate account, do a big shop and then just top up during the month- this is entirely separate from my other money.

you get a real buzz from paying off debts and then saving and being frugal- you just need to get to your 'lightbulb moment' and then get in the debt-busting/saving mode and you will be off!

elsie52

Hi

Its called WILLPOWER.!! We have a set amount to last us the month and we know that once that has gone.....its GONE. We don't have credit cards to fall back on, we do have some money for an emergency fund, but I mean a real emergency, car, washing machine etc...... It was using the credit cards that got u into trouble in the first place, yes they are great if you use them and repay it back asap, but I didn't have the discipline to do that.

Put the cards away somewhere, give them to family member ,who you can trust, to look after them for you, and just stick to your cash. Budget for everything and then you know exactly how much you have to use .

Good luck

WendysWorld

debtdesperado wrote: »

I have just realised that I have 94 pence left in my bank account to last me until pay day, at the end of the month - so about two weeks to go.:eek: I have paid everything I need to, so I just have to find day to day spending money and food.

I have done an SOA and got everything as cheap as possible, but I am having real trouble finding the self-discipline to track my daily spending. I can't work out why.

I should have about £250 left over after paying all my bills which should be tight, but frugally do-able.

Has anyone else had trouble with keeping track of what they spend every day? If so, has anyone else overcome it - what did you do? What helped?!

I'm not very technical so setting up a spreadsheet is out of the question, but I have started to carry a little notebook and pen around...but I don't use it. I have also tried wrapping the receipts around the cards in my purse, thinking that I would tot them up at the end of the day/week, but I don't do that. And then I buy something and say I don't want the receipt. It's like I have total mental black out when I spend money and it's getting harder and harder to resist the lure of the credit cards to 'top up' until the end of the month.

Has anyone got any suggestions of what helped them get in the habit (other than pure fear? )

What I do may not work for you, but I'm exactly the same as you....I can't do the daily writing down in a notebook thing either. Then again, I'm the sort of person who writes stuff in a diary and then forgets to look at it each day:p.
However, what I do now is pay everything by debit card, I know it's counterintuitive but it works for me as there's a record online whether or not I have a receipt. For bits and pieces that need to be paid by cash, I estimate how much I'll need for the week and then I take out that amount and keep the slip if possible. Again, there's a record that I've taken this money out and I don't keep much cash in my wallet, therefore it's more obvious if I'm overspending as I need to go back to the ATM!

I have a copy of Microsoft Money 2003 which is reasonably easy to use, I then use it to track all my spending in my bank accounts, this allows you to 'categorise' all your spending so you can see exactly where your money goes.
I think the reason this works for me is that I'm making myself accountable for every single spend or cash withdrawal. I know that once or twice a week I'll be downloading all the information from my accounts and analysing my spends. It's just another way of keeping a spending diary I suppose.
I know you say you're not technical but it might be worth downloading a ready made worksheet - I think there's one on this site and they're pretty easy to use as you don't have to set it up from scratch.
The trick for me is to keep looking at your bank accounts regularly, I used to download obsessively to MS Money but now it's around once a week and while we're not perfect, we do OK. The worse thing is to ignore your account balances as this allows things to spiral out of control.

Hope this helps!

BM

debtdesperado

Thanks all - some very useful stuff.

I haven't used my credit cards since Oct 08, and have shut all but two (was out of work last year so used all my emergency fund supporting myself during that but no chance of building a new one up until my debt - around a £1,000 a month - is gone, so CC are now 'savings of absolutely desperate last resort'. But I'm not dwelling on that as it's way too depressing, and with a bit of luck I won't need to touch them.)

I'm finding tracking spending the very hardest bit - had my LBM in Oct 08 and am just over halfway through my DF journey. It's tough... I think this is the worst bit. I should be about 90% DF by Christmas so not long to go but it's even harder now than when I started!

Next month I am DEFINITELY going to ring fence my food money.... judging by the contents of my larder I have two weeks of couscous made with stock cubes and porridge to look forward to :-)

babie_gurl

im new to this but i did my diary today its horrifieing where it all gos !! how i track is ask for a recipt wherever you spend !! i keep a pocket in my bag for all the recipts then nightly take them out !! you will be astonished !!

trace123

I only had my lbm recently , cards now all cut up so i have to live within my means . What i have found works for me is meal plan , then only buy whats on the weekly shopping list . I then put £10 in my purse to cover any extra`s such as more veg / milk ect as well as anything else such as stamps , cards . . I am finding i still have money left over at the end of the week .
This never used to happen before . The left over money i put into a savings account and start the next week with another £10 in my purse .
I think the key is to find a method that works for you .
Good luck ,
trace

NGlady

I didnt used to be able to write down my purchases either, used to always forget it, but I made a concious effort to do it for a week, then after that it has become second nature to be honest. Always count my money before I go out, always count it when I get home.
Have four little accounts in ur bank account, even if its just four little money bags and then devide all your spare into those bags.
Another thing I like to do is have two purses. In one purse its my day to day purse so everyday expences go out, like bus fares etc. But then I have another purse (Mines sparkly lol) that I put a set amount in each week and I can only buy my treats out of this money, when its gone its gone, and if your saving up for something say a night out its saved from this as its a luxury.
Something I do, is work out how much money ive got per day, and everyday I don't spend it I try and put it to one side. Dont always work mind. But when something unexpected comes up I dont have to say "Sorry I cant afford to" as normally theres a little stash there, not much but enough

Happytogetdebtfree

Hi and welcome and good luck with the spending diary :-)

richardvc

Apologies, this is going to be harsh. Kind of iron fist in a velvet glove style !

You know what the problem is and with the greatest respect, we can give you all the help you need but if you can't sort out your receipts or use your notebook and pen then there is nothing we can do.

Is it laziness ? Only you will know the honest answer. Do you really have the desire to become debt free ?

But now for the good news, you have realised the error of your ways and recognise the fact that you need to get disciplined.

So, here are the rules and they start from now.....

1. Get a receipt for everything
2. Complete your spending diary and tot it up every night without fail
3. Add up your daily figures to get a weekly figure
4. Be disciplined before you buy things - ask yourself, do I really need this and if so, can I get this cheaper elsewhere ?
5. Do this for a while and you will become disciplined to get debt free and to remain debt free in the future.
6. Don't get lazy, get busy !

Put the effort in and save this being a wasted post.

Good Luck !