My savings journey

Barros

Pfffff.

I saved a fair whack this month but i feel like SPENDING CASH! i even bought m lunch today in the hope i just wanted something different ...but i still have the urge to splurge

any advice guys?

MaryMurphy

UnluckyT wrote: »

Hi all.
Managed to save £200 out of my wages plus £2 of coppers.
Have managed to save extra with my budget for myself

Cool Great stuff!

UnluckyT wrote: »

etc, but i seem to have spent as much as ive saved. Mainly because of needing to get 2 prescripions plus new shoes, bought in clarks in hope of them lasting longer, as im fed up of buying cheap shoes to wear them out in a couple of months.

Well it was all stuff that was needed (esp the prescriptions) so try to look at it that way. I'm with you on the "shoes" issue, cheap shoes last no time :mad:

Well done for being able to save so much

Barros wrote: »

Pfffff.

I saved a fair whack this month but i feel like SPENDING CASH!

Same here! It's really hard, I got paid on Monday (and therefore have cash to spend) and I need to actually fight the urge to buy stuff.

Never been this bad (but then again, I've never been so aware of my spending as I am now).

For me, I am trying to think of all the money I managed to save in the second half of last month, but I've allowed myself to "splurge" on half of a takeway yesterday and a coffee and a bar of chocolate whilst I was in work.

I think it's OK to treat yourself every now and again (for me a treat is coffee and chocolate ) but from tomorrow this stops.

Hope you get on ok Barros, just think of why you're saving your money - it's much easier to spend than save unfortunately, but a little bit of self-discipline goes a long way.

Can I just add that last month was the first time since I started this diary (back in July I think it was) that I've been able to cut down massively on my spending.

It's a process I guess. That, and the fact that I clearly lack discipline, but if I can do it anyone can!

MMx

MaryMurphy

OoooHHhhh forgot to update my "stats":

Emergencies, Xmas etc ...... [STRIKE]75[/STRIKE]100/£500 .......... June 2011 - Car due for repairs so might have to "raid" this account;
Base Savings .................... 45/50% ........... March 2011
Wedding (target # 1)........ [STRIKE]500[/STRIKE]750/2000 .......... June 2011

No change in balance for the eIsa but I'll reassess the situation mid-month and at the end of the month, asI really don't have far to go.

MMxx

Barros

MaryMurphy wrote: »

Same here! It's really hard, I got paid on Monday (and therefore have cash to spend) and I need to actually fight the urge to buy stuff.

Never been this bad (but then again, I've never been so aware of my spending as I am now).

For me, I am trying to think of all the money I managed to save in the second half of last month, but I've allowed myself to "splurge" on half of a takeway yesterday and a coffee and a bar of chocolate whilst I was in work.

I think it's OK to treat yourself every now and again (for me a treat is coffee and chocolate ) but from tomorrow this stops.

Hope you get on ok Barros, just think of why you're saving your money - it's much easier to spend than save unfortunately, but a little bit of self-discipline goes a long way.

Can I just add that last month was the first time since I started this diary (back in July I think it was) that I've been able to cut down massively on my spending.

It's a process I guess. That, and the fact that I clearly lack discipline, but if I can do it anyone can!

MMx

LOL i totally relate to this!! Yesterday it was a bag of m&ms and today it was some nice haddock for my dinner! and a panini at lunch!

i defo notice a pattern in terms of my spending when i feel that i want to splurge - it all goes on food. REVEALING!

Queen_of_the_Hive

Hello everyone....

Well done so far on increasing the savings pots since we have all been paid!!

UnluckyT - agree with Mary's comment. As long as you have spent on things you were already planning well its not that bad then. Hubby lives by the "spend more for better quality" rule and I would tend to agree with him on that!

Barros - Im also like you too.... love spending money but realise that if I want my house, i gotta save! Saying that you need to have the right balance. No point in saving and living myserably.

Mary - well done on your little pot increases. Every penny counts.

Well im going to let the side down! but all in a good cause. Savings was going well since payday. However since then had to pay a particular bill related to the fall through of our property sale (grrrr!) and we found a wicked deal on the net for our wedding anniversary. Its our first coming up in March so wanted to do something special. We booked a 3 night city break in 5* hotel and flights for £330 for both of us. We are pleased. Means my saving target for Feb is out of the window though!! Got a bit of a feeling I got my Jan pay budget wrong and might be £100 up in bank account and also found a birthday pressie cheque also for £100. So fingers crossed this might go someway to making up for the shortfall. The good news is that i dont need to touch the money I put aside in Jan. We all have months like this!!

Sunday bargain... bought the sunday times. Cinema voucher valid for that day only. Saw Black Swan for £1! Didnt buy popcorn, instead bought snacks before went in there from tesco. much cheaper!

Tom looking to book £5 travel ticket on megabus instead of taking train. Much cheaper too!! Have to book in advance though. Its good to be organised.

MaryMurphy

Barros wrote: »

i defo notice a pattern in terms of my spending when i feel that i want to splurge - it all goes on food. REVEALING!

Glad I am not alone!

It's all psychological though, isn't it? I am not a great cook but could probably whip up a faily decent tasting meal for myself, but it's the convenience of popping down to the shop that makes it seem so much nicer!

Plus, the coffee in work is really quite bad quality but it still feels like a treat because all I need to do is press a button.

So I am just going to try and look at it this way. It's not that the food is better, just easier. I did well last month so there's absolutely no reason why I can't do it this month!

clarissa62 wrote: »

Mary - well done on your little pot increases. Every penny counts.

Well im going to let the side down! but all in a good cause. Savings was going well since payday. However since then had to pay a particular bill related to the fall through of our property sale (grrrr!) and we found a wicked deal on the net for our wedding anniversary. (...) Sunday bargain... bought the sunday times. Cinema voucher valid for that day only. Saw Black Swan for £1! Didnt buy popcorn, instead bought snacks before went in there from tesco. much cheaper!

Tom looking to book £5 travel ticket on megabus instead of taking train. Much cheaper too!! Have to book in advance though. Its good to be organised.

Thanks I know it's not a massive amount, but I'm conscious that I have several bills coming up so whilst I have £ put away for them I haven't added it to my Regular Savings total yet. Whatever's left over (if there is any!) will be added then.

Sounds like you had a very MSE weekend, can't beat it!

Shoot about the savings for this month, but at the end of the day life is for living isn't it? I am glad it's all going towards something so special, I'm sure you'll have a lovely time

MM x

Queen_of_the_Hive

Hello, having a quiet day and thought Id post on here. Was meant to be having someone view the flat this afternoon but they didnt show... not very pleased considering we gave it a great clean! Saying that, its lovely and shining now!

On MSE front, decided to take the plunge and look to potentially change my current account. Fancy the 8% reg saver from first direct. Need to do some homework on this, but looking like a distinct possibility. Has anyone else done this before?

MaryMurphy

Car repairs came to less than expected, so I've thrown all caution to the wind and put the remainder of my eIsa target away. So,

It's now achieved

Wedding Fund and Regular Savings to go.

Ugh

MMx

MaryMurphy

Hi clarissa62,

Did you look any further into changing bank accounts? I've been thinking about signing up to the Halifax current account as it gives you a £5.00 per month if you put over £1000 in, and I should get that as from April so I might as well (if my calculations are correct!).

Not too sure how it would work as I know they'll try to make me change all of my accounts to them and I won't do that, there are better deals savings-wise elsewhere.

Just popped in as I am on a mission - I am spreading the word of the spreadsheet (bit of a mouthful, but hey).

I started as of last month to use a spreadsheet to keep track of my savings and have X amount allocated for Y and Z, and it's working a treat so far.

I have a few columns divided into different categories, e.g. car, large purchases, Christmas, heating/fuel, etc.

Let's say I have £100 to put away this month into my regular savings account.

I then go and allocate X amount to the categories, e.g. £20 car, £30 heating, etc.

It's really helping me with forward planning. At the moment things like Xmas have a healthy balance of £0, but that's how I want it right now, money needed on other things.

No other savings made this month as we've sadly had to bite the bullet and finally got heating oil this week, so after everything I have about £150 left as spending money.

It'll be a bit tight with food and (gulp) fuel for a fairly lengthy trip I need to make at the end of the month but it's all good. I have a (very) small contigency balance which I can dip into, but thankfully February is such as short month I think I'll be fine.

All hail the spreadsheet

MMxx

Queen_of_the_Hive

Hey Mary,

Its funny you were promoting spreadsheets.. Had mine for a few years now and was definately the best thing ever. I know what my take home pay is and what bills need to be paid. For my savings I deduct it automatically on payday. I pay for everything on credit card but pay the full balance each month. Its handy the credit card month runs from middle of one month to the next, whereas payday is end of month. Now am into a good routine I know what I can budget for.

This time of month is usually my bad spell... last few days of credit card month. This month ive had to pay for major dental work and wedding anniversary weekend away. Its been painful physically and financially! On target to save £400 instead of the magic £500!

Im still really keen to go with first direct. Problem we face is having to have a credit search - not good because dont know when will get a buyer for our flat - thats a completely different story!! We get our wage reviewed in April and planning to re-consider then when the fresh round of ISAs and saving accounts are out.