Not strictly a debt free wanabee but.....

poppyscorner

I really need some help with budgeting am I allowed to post here ??

I don't have any debt really apart from my car which I am repaying on a monthly basis but I need some budgeting advice I am struggling to manage my finances and am trying to save for our wedding in a years time. I always start each month with best of intentions but my money jus disappears no matter how well I think i've planned it !

Is it appropriate to post here or is somewhere else more appropriate ?

TIA
xx

Tixy

Hi

More than welcome to post on here - you can still be a (wanting to stay) debt free wannabe!

As you want to put aside some savings thats really not much different to wanting to put money aside for debt repayments.

Have you tried to do a budget yet? If not this statement of affairs is a good starting point - http://www.makesenseofcards.com/soacalc.html
this allows you to work out how much you should have free to put towards savings each month, and helps you think of those costs that don't happen each month but you still need to budget for, eg car tax or xmas presents etc. For those type of items see if you can work out what you spent last year and then divide by 12 to get a monthly figure.

Another useful budgeting tip can be to keep a spending diary for a couple of months - it can be quite scary but well worthwhile to find out what are your weak spots for spending. In it make sure you note down every little thing, including £1 lottery tickets or 50p on a chocolate bar.

If you find you are the sort of person that always spends all your wages (indulging if you can afford to at the end of the month) then it might be sensible to open an instant savings account and tset up a standing order to go out just after you get paid, this means you get used to not seeing that money as part of your monthly income (if that makes sense) but you always have the safety net to transfer it back if you run short for essentials at the month end.

Tigger-Roo

I agree with Tixy, it's a good idea once you have decided how much to put away, to do so as soon as you've been paid. Set up a standing order into your savings account if that helps.

I do remember being in your shoes, and starting off with the best of intentions but spending the money I was going to save by the end of the month. I eventually set up a standing order that went out of my account the day after I was paid and therefore it was never in my bank account long enough to spend.