how do u do it?

kezzygirl

i have just read a thread saying that all spare cash is thrown at debts...does that mean cash for entertainment etc?

For example, I got paid £1332 friday. £706 dd's this month, £200 on debts,£100 went to o/d, about £115 on extras(electric,budget card etc) and withdrew £250 to keep as cahs as this is the month i movve to co-op and am of the understanding that this £250 is to last the month(along with tax credit etc).

Spent £69 in asda, which includes a winter coat for baby and a dvd for hubby and i which was a fiver. We also had lunch in the cafe which came to £12 for the four of us (same cost as mcd's which is what we usually have-but the food we had filled us so much more).

we currently have #£160 in the pot in the cupboard where all our cash will now sit.

i am now wondering if i should have paid it off debt?but then we would be truly skint for the month.
anyone shed any light?

Nottoobadyet

It depends on the person, really. For those neck deep in debt and trying to get out ASAP, many want to put every last £ towards debt. Personally I make an overpayment a the start of the month and live (frugally and budgeted) off the rest, and if at pay day I have anything left I add that on.

So there's really no right answer - you need to decide what will work for you.

kezzygirl

i want to get out asap, but dont want to be absolutely skint.for example, we staying in dartford this month overnight for a family party, will cost £60 for the room including breakfast so thats £100 left after wages.

just dont know lol

talana

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i have just read a thread saying that all spare cash is thrown at debts...does that mean cash for entertainment etc?

Spare being the operative word here. If you're going to be truly skint for part of the month then it's not exactly spare cash.

On the other hand, if your debts are the priority many people would pass on buying the DVDs and the like.

kezzygirl

well, we dont go out etc so thought we would treat ourself to a dvd that would entertain us instead.

we are doing well at the moment, ie. not going on a shopping spree when paid etc.i know its only sunday,but still!

savingcaz

well done for making the first step!

I think you do need to have a little treat (like the dvd) but we would prob not have done the lunch as well if that makes sense. But saying that i have a 22 months old and sometimes you need to eat out.

What we do is same as nottobadyet, we make some over payments on overdradts at beginning of month but then what ever we can we throw at the cards at the end of the month.

Good luck!!

eyeopener2

Theres no point in denying yourself the occasional treat, although I wouldn't personally pay £12 for a meal in ASDA or buy a dvd if thats your thing then fair enough. Denying yourself totally will drive you mad.

You seem to have a plan to pay off your debts, looking at your other thread, so if you stick to that then you should be ok. Its all about budgeting. ( I wish I had learned that some time ago)!

isy1011

Personally I would class a family eating out as a luxury as I do buying DVD's and clothes at the moment as Im putting debt repayment first.

We ate out once last month as it was little DD's birthday.

Its a question of choice and what you are willing to give up.

I havent bought little DD a winter coat as I have kept all her bigger sisters old clothes and I asked family to get alot of clothes for her birthday.

I just got sick of waking up in the night worried so its a small price to pay for me.

MrsTinks

I do mine a little different - I pay my bills etc and fuel and you name it... at the end of the month I take what is left and split it - 50% on over paying debts, 50% into a saving pot. This means I'm building up a cushion for "what-ifs" and if the whatifs don't happen I pay lumps off my debts too It means I don't miss the money on a day to day basis because it's there if I "need" it - but I like trying to have more left at the end of each month than last month, I compete with myself In your case I would only put in what you have left at the end of the month - or if you do clicks etc then put in anything you earn extra

ViolaLass

kezzygirl wrote: »

Spent £69 in asda, which includes a winter coat for baby and a dvd for hubby and i which was a fiver. We also had lunch in the cafe which came to £12 for the four of us (same cost as mcd's which is what we usually have-but the food we had filled us so much more).

I think the key points are

- how often do you do this? Every week, every month?
- how much debt are you in?

If I were in debt but could pay it off in, say, four months, I probably wouldn't be too bothered about spending £12 on a meal out once or twice a month. However, if I were in deep debt that was going to take years to pay off, I would do it no more than once a more AND I would either not buy the DVD or sell it on once I'd watched it a couple of times.

kezzygirl

hiya, we went at completely the wrong time to s+h+op...it was 11.30am and our son is 17mths and our daughter is 4...both ar ein good routines where they know when lunch is!lol.plus, i cant use my daughters old cloethes to dress our son mores the pity lol.

the coat was £12.50 and we got it big enough so it will last.the shopping for the week when taking off coat and dvd came to £52 which is very good for us.

i did a meal plan of what hubby will cook for the week before we went.the main weekly cost is pack up stuff as i have it for work and so does our daughter have it for school.

we tend to eat one meal out a week,however, last month to my disgust we spent £100 on eating out!

we are in debt to the tune of £5633. which is gutting.do not have anything we can sell, have sold it all either to my sister or ebay

this month i have resolved that we will not be eating out as £100 is a hell of a lot of money to spend when in debt! so this month is the revolution month where there is an end to frivilous spending(apart from the dvd as a treat )