Healthy and wealthy - that will be me!

vasseur

I think I am going to start doing what you're doing with different pots for different spends and see how it works out. Thing is from tomorrow I will be off for 2 weeks involving loads of days out so it's probably an impractical time to start a new system. Do you have 'virtual' pots or do you put the physical money in them?

pixiechick99

polesalot wrote: »

I think I am going to start doing what you're doing with different pots for different spends and see how it works out. Thing is from tomorrow I will be off for 2 weeks involving loads of days out so it's probably an impractical time to start a new system. Do you have 'virtual' pots or do you put the physical money in them?

Morning Poles;)
I have lots of separate account with the same bank - so I just use online banking to move all the money about. I have these different accounts - Bills (all direct debits and rent come out), Spending, Grocery, Girls money (money my mum sends them and money from selling bits on ebay sometimes), Grocery float, Girls club money and my savings.

It definitely works for me - as I have money going in at different times. Wages monthly, Tax credits weekly, Child ben 4-weekly and Housing benefit fortnightly!! All money is paid into the bills account and I remove the TCs each week - I use them as food and spends. Wages, CB and HB all pay the rent and bills.

Keeping_Motivated

Milly do you just have one bank card and then move money about once you have spent? And do you mind me asking which bank you use that allows different 'pots'?

pixiechick99

Keeping_Motivated wrote: »

Milly do you just have one bank card and then move money about once you have spent? And do you mind me asking which bank you use that allows different 'pots'?

Hiya KM:D
It's Lloyds I use - and it's separate accounts I have - most of them are current accounts. They do send a dibit card with each one, but I only use the debit cards for Spending account and Grocery account, occasionally the bill account gets used.
It seems to work for me - I can see how much I have available easier than I used to. Usually any money left over on Wed night in the Spending account gets put in the savings - then the new week's money (from TCs) goes in on Thursday.

vasseur

I have 5 accounts - my main c/a, bills a/c (mortgage and dds) and 3 other accounts and just remembered a savings account, so that's 6. Starting from next month I will have a grocery acc, car acc, after school club fees acc and savings account (which will probably be the 'spends' account. So every time I have to pay for something on my debit card I will move the money over from the relevant account. Yes i think i can do this. Then I will have other accounts to 'round down' things when I do my PAD.

Ooh I am a bit excited about this (really really do need to get out more )

poles

pixiechick99

polesalot wrote: »

I have 5 accounts - my main c/a, bills a/c (mortgage and dds) and 3 other accounts and just remembered a savings account, so that's 6. Starting from next month I will have a grocery acc, car acc, after school club fees acc and savings account (which will probably be the 'spends' account. So every time I have to pay for something on my debit card I will move the money over from the relevant account. Yes i think i can do this. Then I will have other accounts to 'round down' things when I do my PAD.

Ooh I am a bit excited about this (really really do need to get out more )

poles

It is exciting getting it all organised...I'm with you on that:D I particularly like my Grocery account so I know exactly what I have left of my budgeted £220 - this month might creep over, but it is the hols, so am not too bothered. I also have student loan going in at the end of Sept:beer: So that'll get put into savings. I'd like to use that to buy a new sofa on the winter...springs are going in ours:(

maman

What an interesting discussion and good advice milly. My situation is different from yours but can I ask if you have a 'cash kitty' (or similar) as well as your accounts? OH and I (children all flown) try to split the bills. Normally I do the shopping on my credit card and we split the bill each month. But I was finding that because I was trying to be frugal with the groceries it was costing me extra. To explain, I was spending bits of money in Lidl or Aldi or Farmfoods or wherever that was coming from the cash in my purse. We now keep a petty cash tin in the house which we each top up an equal amount when needed and find it really useful.

pixiechick99

maman wrote: »

What an interesting discussion and good advice milly. My situation is different from yours but can I ask if you have a 'cash kitty' (or similar) as well as your accounts? OH and I (children all flown) try to split the bills. Normally I do the shopping on my credit card and we split the bill each month. But I was finding that because I was trying to be frugal with the groceries it was costing me extra. To explain, I was spending bits of money in Lidl or Aldi or Farmfoods or wherever that was coming from the cash in my purse. We now keep a petty cash tin in the house which we each top up an equal amount when needed and find it really useful.

Hi Maman,
I don't often have much cash on me - if I buy any grocery bits I try to use my grocery account debit card. If I do use from my purse I often transfer what I spent on groceries from the grocery account into the spending account - if that makes sense. I just want to make sure I don't start using my cash (which is withdrawn from spending account) on groceries - so if I do, I repay it from the right account.
As it's school hols I'm finding I need more cash - bus fares, the odd drink for girls when out. But usually when we're all at school I really don't get through much spends. The spend account is to cover anything extra - treats, clothes, the very occasional takeaway, petrol.
So if I go to Tesco and buy stuff that's not food/toiletries then when I get home I transfer the exact amount into my grocery account from spends - so it stops me sneaking things in and pretending its the food shopping (as I used to do!!!!)

Hope this all makes sense:D

pixiechick99

Ok, quick ta-da list for today:
~ got up:rotfl:
~ showered, fed myself and dd2
~ town with dd2 - no coffee shop today, bought her a drink and sausage roll in Greggs
~ Bought 6 sheets of felt for sock creatures - £2.95
~ Bought tights for dd's for school - £3
~ bought myslef a top in Next ooooops, but might take it back, not convinced I love it enough;)
~ Dusted and hoovered lounge
~ swept kitchen floor
~ chicken is defrosting for dinner - will turn into curry, mmmmm
~ Nipped to Uni library - returned books and borrowed 4 more for the big essay (which I'm still baffled over;))
~ Sorted DD1's box of schoolbooks - threw very old ones
~ Emailed college tutor asking to meet for help on the essay!

Ok, that looks like I've done a few things:T
Here's what's left to do:
~ Take dd1 and her pal to see Eclipse, pal's mum is collecting them later. This will be dd's 3rd trip to see it:D
~ make curry for dd2 and I, save dd1 some - if she fancies it
~ wash up, tidy kitchen
~ Insist dd2 showers and washes her hair;)
~ sort school folder for new term
~ watch Masterchef whilst resting my weary bod!

Ok that's my lot. Feeling reasonably productive today.
Not much planned for tomorrow - dd2 is going to town with 2 friends - 1st time on her own, aaah. I'm dropping them in and friend's mum collecting. They'll be hours - she has her own money to spend, they'll no doubt go in the Apple shop for a while, New Look for aaaaages, try on high heels...oh and KFC:rotfl: Bless them
So, quiet house for dd1 and I.

Girls are off with their dad tomorrow evening until Sunday evening. SO, plenty of time for me to do some work, if I can. Probably won't spend much either - don't need food, but a bottle of wine for Saturday night I think is needed - X Factor is back:T

Keeping_Motivated

millyscarlett wrote: »

Hiya KM:D
It's Lloyds I use - and it's separate accounts I have - most of them are current accounts. They do send a dibit card with each one, but I only use the debit cards for Spending account and Grocery account, occasionally the bill account gets used.
It seems to work for me - I can see how much I have available easier than I used to. Usually any money left over on Wed night in the Spending account gets put in the savings - then the new week's money (from TCs) goes in on Thursday.

Thanks Milly, I thought it was one account that had different 'pots'. I have a similar system to you and I have different accounts (with the same back, for ease of transfering money) for spending and bills and I find it really helps keep things in check.