hlep me budget

jharris_2

can anyone tell me about a bank account that will organise my cash flow so I don't spend all my money in the first two weeks of being paid?

thatsean

Have you tried the old fashioned way of a sheet of paper/spreadsheet.

Money in at the top

Deduct commitments

Spends is left.

Take out spends - or transfer to a different account.

There aren't accounts to babysit you, and they wouldn't really help you, as you wouldn't learn how to manage your money.

If it's getting tough then something like thinkbanking might help, but it costs a fortune, and isn't anything that you can't do with a pad, and a bit of resolve.

Good luck.

BOGOF_Queen

I second the spreadsheet method - just enter your monthly income into one column and then all your expenses, rent/mortgage, electric, fuel,food etc into the next column. Then total up both columns and you will see how much is left over. It would be a good idea to transfer some to a savings account as soon as you get paid to cover things like car insurance,car tax, holiday, xmas etc. Then what is left is available to spend or save as you wish. Hope this helps, works for me.

david_hellier

thatsean wrote: »

Have you tried the old fashioned way of a sheet of paper/spreadsheet.

Money in at the top

Deduct commitments

Spends is left.

Take out spends - or transfer to a different account.

There aren't accounts to babysit you, and they wouldn't really help you, as you wouldn't learn how to manage your money.

If it's getting tough then something like thinkbanking might help, but it costs a fortune, and isn't anything that you can't do with a pad, and a bit of resolve.

Good luck.

Unfortunately the banks will not do this function as it's not profitable.

I have an excel sheet with a budget on one tab and a spending diary on the other. If you (or anyone) wants it, just PM me with an email address to attach it to.

Doshwaster

Tracking every penny you spend is the vital first step in keeping track of your finances. Do it for a few months and you'll be shocked about how much you are wasting. Just find a method which works for you - pen and paper, spreadsheet, personal finance software or if you have a smartphone then there are lots of apps available to help you track your spending.

I remember when I got my first decent job I was earning more than I had ever before - but I was still overdrawn every month. After years of being a broke student I was enjoying having money but it's just that my spending had gone up more than my income had so financially I was worse off.

karren

we use halifax online, we have mini accounts coming off there for hols, xmas, school expenses, car expenses and food bil etc, the rest goes out by dd and then whats left is ours, hope that helps x

cbassno3

What I do which works for me is I write down my salary, All direct debits going out to the penny, Then transfer the remaining balance to one of my other accounts. Once I see my direct debits are being collected via my online banking I then tick it off so I know it's been paid. Try and keep it simple and always look where can I save a £1.00 here and there and you will be amazed how much you can save. Best of luck.