Living within my means?

foxgloves

Ultimately if you carry on spending outside your means, you have to accept that you are actively choosing debt. It grows without you much noticing if you can meet the monthly repayment without problems, like we always used to be able to, but wouldn't it be a good feeling to live within your means, get these debts paid, then you'll have freed up some money no longer needed for wasteful debt repayments for putting aside for good stuff, like holidays. We were only debt-free this May (apart from mortgage of course), after our joint LBMs about 3 years ago. We now enjoy living within our means & feeling in control as much as we used to enjoy frivolous spending. Our attack on the debt was 2-pronged: Firstly cutting back all spending & stopped buying unnecessary stuff, Secondly, keeping accurate records of expenditure so we could track we were sticking to our budget. I've posted this before, but our mantra for getting (& so far, staying) debt-free is 'If you have to take out a loan, put whatever it is on a credit card or extend your overdraft to buy it, then that's someone else's money, not yours, so you obviously can't afford it'. I know this sounds obvious, but it's worked for us. The other benefit of clearing the debt is that some of the money you used to put into repayments can be put aside to form a little pot for emergencies, which means you can actually pay for something like an unexpected car repair bill without having to stick it on the plastic. The first time I was able to pay for a car service & MOT repairs in full myself instead of shoving it straight on credit card felt almost tragically brilliant! Keep at it. The choice is yours. You are doing the overspending, so you are choosing to have the debt. If you make different choices, you will see different results.

josephine82

It is difficult being young free and single and sticking to a budget.

Some of the things that I do:

Always have a voucher if you go out for dinner, or if not, think about sharing food rather than having it all to yourself, i.e share a starter and a pud between you- less calories, less money :rotfl:

Or how about the cinema on cheap Tuesdays (not sure if this is all of the UK) or on Orange Wednesdays?

Running is free, and can be fun with a friend.

Zumba is a fun class and really sociable and can be cheap if you can find a class at a village hall or leisure centre or something like that.

Movie nights in with friends- all you need to buy is cheap popcorn from somewhere!

Could you separate out 'your' money from food money, i.e so you always have money for the food that you want (while still sticking to a budget) to avoid situations where you have no money for groceries at the end of the month?

I would definitely look at your entire budget and see if anything can be saved- you can find a few savings without even realising then you have more money for you! (or for savings, if you want to!)

emylou

I didn't want to read and run and in many ways I could have written your post. afew years ago when I was single I was spending loads of money going out "buying happiness" so to speak. I had credit cards and loan repayments but was didn't realise the usefulness of budgeting. There have been great ideas given above, especially getting froends round- taking it in turns to host nights in (I hate waiting for ages to be served at a bar or struggling to get home and much prefer nights in now but when I do go out it makes it more special as it's not a weekly thing). Me and my bf still go out too often for meals so we are making an effort to cook more, only go out if it's a special occasion and always use my Taste card or vouchers- it's about being savvy I would also add; if you do pop to the shops when you're bored, either don't take your purse at all or take £5 or a small amount and see what you can buy with that, at least if you spend it it wont be loads but you might be more conscious when handing over cash rather than a card. Never go shopping when you're hungry! When I am home alone I will email/call a friend, watch a dvd, read, go for a walk (without any money on me), feed the ducks at local pond, see my niece and nephews who live round the corner from me. I have to be careful on the internet at the moment cos I have stupidly been buying on ebay, amazon and a clothing site over the past few weeks so now I just close the window and find something else to do to distract me. Good luck with sorting yourself out now rather than when you're struggling to keep your head above water x

cuttingbackisitfun?

Thank you all so much.

Emylou - its so nice to hear someone else has been in the same position I am.

I do think if I don't go out often then I will never meet anyone but I suppose that needs to wait for the post debt in control me to arrive hey x

Archer0710

cuttingbackisitfun? wrote: »

I do think if I don't go out often then I will never meet anyone but I suppose that needs to wait for the post debt in control me to arrive hey x

Don't put your life on hold just think of different ways to meet the challenge.

I have two friends (both of whom are getting married in the next two months) that met their husbands to be online.

One through Match (normal bloke) the other through forces penpals (squaddie) and they said part of the fun was getting to know them online before meeting and it was a great way to spend an evening.

I am in my early 30s and tbh if I didn't have DH :-/ I'd think of it. I was always anti but my friends have shown me it cab work out and both if them are very happy.

Back to the budgeting side of things, I find cash works for me. If it means taking money out of my purse I think twice and I was the queen of using my debit card as it wasn't real money. I think until you write it down and monitor it and I have separate accounts for important things (work fuel) etc so that I never run out and resort to credit cards etc.

cuttingbackisitfun?

Hey archer thanks for your support i ave tried online dating but had a very bad experience tbh so too scared to try it again.

Budgetting I mostly work in cash and need to sever the ties and leave my debit card at home I am trying I promise x

butdoineedit?

cuttingbackisitfun? wrote: »

BDINI thank you so so much the essay was appreciated, I already budget but end up overspending and dipping into another pot so to speak.

I do the seperate purse thingy, I have a purse that is split so assists this I need to be stronger and only buy what I need not what looks nice or i fancy. I am going back to having a couple of basics nights jacket spud with beans or tuna per week.

I take lunch most days and do like diet pepsi but i buy 3 for a 1 of these so not wasting 60p on the can machine in the office.

Voluntary work is gd but most weekends I do overtime in work to boost my salary this has been used to do nice things recently but that has to stop it needs to start clearing debts but its so much more bareable when its for nice things!!!!!

K x

I might get shouted at for saying this, but i reckon it's ok to use your overtime money for fun, if you can keep to the rest of your budget. I totally get the being single thing cos that's the position i'm in too.

It's all about finding what works for you & thats how i capped my grocery spending, whenever i'm grocery shopping & pick up rubbish, or thinking of ordering a takeaway instead of cooking, or looking at a fab outfit for going out (that won't get worn cos i can't afford to go out!) I always ask my myself if i want that more than the alternative. It makes me stop & not spend more often than not... ie: do i want this extra special ready meal, that i could make myself for a fraction of the price, or do i want a bottle of wine in the local with my friend? The ready meal never wins!!

Have you thought about posting an SOA? That way all the really clever budgeting people can help you find areas where you could save, so you can start making inroads into your debts, & then you might not feel so guilty about using some of your overtime money for fun. There's a link to the SOA form in one of the sticky posts at the top of the forum, if i was clever i would post the link, but unfortunately i'm not!!

jamie85_2

Hi i definatley know how your feeling about living within your means very difficult dont you think..

I found that it was good to get a hobby like instead of socialising with friends over dinner and cocktails go to a gym class or have house parties..

Also im the worst for when im bored i just shop online the only thing that helps me there is to put all the stuff i want in the basket leave it for an hour then come back and ask myself do i really need this????? it works...

Archer0710

cuttingbackisitfun? wrote: »

Hey archer thanks for your support i ave tried online dating but had a very bad experience tbh so too scared to try it again.

Budgetting I mostly work in cash and need to sever the ties and leave my debit card at home I am trying I promise x

I am sorry to hear that I guess there's idiots in every walk of life. It's a shame as dh's mate uses online sites and he's a lovely guy desperate to meet the one (he doesn't know I know he's online, he messages a friend of mine) and I am sure he can't be the only one.

scotschick_2

I could totally relate to this thread and found all the feedback really useful. I also am trying to tackle my debts, properly!!!..but I am also a single girl...who likes to socialise, but is realising that you can't do it all.
I got rid of most of my debt about 7 years ago, but can't believe I am back here again.

I am really keen on the structured money at the start of the month for different costs...food...travel...etc. I am a big victim of not thinking about what I spend...and carding everything. Really starting to change this...and keeping cash in my purse, and seeing what I spend.
Also I am now starting to check my online banking regularly....I used to always avoid it...i.e face reality. I aim to check it everyday...and I am at a stage when I know I need to live like this.

As said loved the advice I could relate to...and the open advice.

This is the first post I have made in a long time...since I made a post over a year and a half ago...and got one of those 'trolls' who was quite horrible their reply...and it really put me off.

I will no longer be a lurker...:D and want to be debt free :j