Lifetime Money Habits Need To Change

Lisa_K_M

I have always spent beyond my means and everytime I get into debt I pay it off (or tell myself that's whats happening) with a remortgage when we move house.

We are not moving house for a long time and I have racked up around £7000 of debt that need paid off but this is not a short term thing. I seriously need to change the way I deal view money and posessions and my spending habits as this has been happening ever since I left home.

The good news is all going well I have the means to pay this off and start saving for the future instead of spending money I don't have.

I want to keep a daily diary and hope it keeps me on the straight and narrow.

Another place I know I can save is food shopping, we spend £500-£600 a month on the food shop (that includes nappies/baby milk/toiletries and household supplies/cat food etc) and surely I can bring this down a lot.

I will post details of my debts tomorrow and get things going !

My hope is to be debt free in 18 Months and I am going to try as hard as I can to make this happen, selling on ebay, homemade lunches (that should be a given!) extra shifts (but trying to still have a lot of time with my family) and pretty much exercising as much willpower as possible in shops (my big, big downfall)

Wish me luck!

beanielou

Wishing you lots of luck!
Keep posting!

saorsie

All sounding really good Lisa - will keep popping in, see how you're getting on

Happy New Diary

-s-

Lisa_K_M

Well I have put my debt in my signature and I get paid on Tuesday this week so that is my first big payment of some of the debt. I think I will have a look at some of the grocery threads as I can see familys of 5 living on £250 food shopping a month in the Debt Free Wannabe boards, how do they do it !

I always put the same into a joint account covering the mortgage/council tax/gas and christmas/birthday savings so will keep doing that the same way. It is my personal spending that is causing the problem. If I see something I want I buy it even if I don't have the money and have done it for so long I am not sure how to start to value what things are worth.

I will buy a £30 top no problem but know that others will save to buy it when they see it and not buy it instantly. I have tried to stop spending before but have never lasted very long so hope that I can really change my ways long term this time. We are hoping to try for another baby soon and want to get things under control before a new son or daughter comes along.

Back soon. Lisa

Nitha

Hi Lisa

All the best, I'm also a mum and expecting my second in Sept - it's amazing how much having kids changes your attitude to money!

Lisa_K_M

Thanks for your post Nitha and congrats on the impending arrival.

We have 2 boys under 3 already and after the initial buying when our first was due it's not been too bad since. (It's my spending on the house/myself that is bad!) Luckily our second was a boy so we were able to use everything again, heaven forbid if we had a girl next, we would be bankrupt, I don't think I could resist all of the lovely girls clothes in the shops.

savingholmes

hi lisa - welcome to mse diaryland- hope you find the diary useful to get back on track. Read other people's diaries too for ideas on what works for them... You may find some ideas you can use yourself

Nitha

Haha yes we're having another boy thankfully! Unfortunately I hadn't saved DS's clothes as my pregnancy was so awful we vowed not to have another. But insanity took over and we changed our minds, thankfully too as this one has been a breeze in comparison. I have got a friend who has a 10 week old boy and has promised me his cast offs (including a gorgeous sling) and we still have the big stuff like the cot. I've been told by hubby that he wants no more (he has a son from his first marriage) now and I think he's planning on ensuring we have no option IYKWIM!!! So definitely no little girls for me!

ralloctiger

hi
I dont usually post on these threads but I read them for help and inspiration. Why dont you read some of the OS threads and find out how people cut down their monthly spend and watch the pennies. There is a great grocery budget thread and I.m sure you wiill find this usefull. OS is help with make do and mend,stretching your current income to last, and you can apply this to some areas of your life like me or you can go the whole hog. Its really just a state of mind and when you get to the end of the month and dont owe any one any money it is a great feeling.There's always room for a treat. OS makesyou realize that life can be great even if you dont spend any money.
Keep the momentum going
I am sure where ever you post hat people will give you encouragment and support.
big hugs
xx:)

SAHMto2boys

Hi Lisa

We sound really similar. I'm rubbish for just seeing stuff and buying it without saving or thinking it through first. Of course it goes on the CC and I will pay it off but it never seems to happen. I was doing okay on this front but have just slipped back into my old ways when I stopped using my diary so hopefully you will find yours really useful too.

I spend about £270 on household stuff/food/dog food, etc a month and thats for two adults, two children (one whos a baby but eats as much as the 3 year old) and two dogs. But then I've been saving my child benefit and using this only for the babys nappies and milk, shoes, clubs, etc. I think I could get the bill down by quite a bit more but that figure allows us to have a bit of alchol, treats, takeaways and such.

Look forward to following your journey xx

Lisa_K_M

Hiya, Nitha, sounds like you will be sorted for clothes, that's handy and am glad this pregnancy is better for you, thanks for the other posts of encouragement and samhto2boys I know what you are saying, I wonder how long this positive money saving will last, hopefully the diary will keep me at it and congrats on the £270 a month, I have definite room for improvement there as our food/nappy/cat food/household bills havebeen between £550 - £650 for the last few months and none of that is even alcohol !

I found a great forum entry on the boards called The Complete Menu Plans Collection which I will be studying before my next big food shop on Friday.

Well today I had to stop a few times to think about my spending or not spending. Things like buying a 3 pack of chewing gum from the shop, a croissant from the bakers, a bacon roll from the butchers, (these are people at work going to get food and tempting me to join them) a packet of biscuits from Poundland and a set of creams on sale in boots were all tempting but I resisted.

I took in in my own salad, 3 cans of tescos own diet coke, an apple and a slice of homemade banana cake to work and spent £0 on food at work, first timefor a long time.

I spent £4.20 on the train instead of £7.20 because the guard never came so I could buy a ticket on my train journey in (I get on at an unmaned station so can't buy a ticket there, I do feel bad when I don't have to pay but it is a £3 saving) I spent £3 at my Zumba class and that was it for the day.

Tomorrow is pay day so I will be able to see the start of my debt figure coming down.

Spend total £7.20