Is anyone else finding this?

Pinksparkles26

Since i took my head out of the sand and started tackling my debt i have been doing quite well, however as i'm save save save i no longer want to spend even £1 if i don't have to as i don't want to see my bank balance affected. I'm an all or nothing kind of girl and there is never a middle ground. This means i keep turning down invites by friends to go for a drink or a night out and i hate that i'm doing it but keep thinking well then i can save an extra £10 etc. Is anyone else doing this as they are so desperate to get rid of this debt. I don't need to do this i have £500 a month spare and could save half if needed, but £250 is no way near as good as £500 would be. I hate how my mind works and know i will end up just sat at home miserable not doing anything as it costs money but paying off this debt means everything to me as i want to move out and move on with my life, not have this hanging over me forever.

CH27

It's important to allow yourself some treats or you risk falling off the wagon totally.

Hovel_lady

Yes, I know what you mean. I'm all or nothing too.
However I'm learnt that having no fun at all isn't good.
How about you allow £100 each month for fun? That way you can still do things with friends but most of the £500 will be saved.

Pinksparkles26

CH27 That's exactly what i'm afraid of as that's what happens with me with money, weight everything. I go all out 110% at the start and then allow myself a little treat see it as a failure and go mad. I can't though i am determined i have no other option but to clear this.

Pinksparkles26

Thats a good idea Hovelady thanks. I won't allow myself to feel guilty about it either and think i could of saved that £100. I lived my life before telling myself life is too short which it is but i have gone to the other extreme now

CH27

Don't isolate yourself & make yourself miserable hun. You need to strile a balance between saving/paying off debt & having a life.

£100 p/m treat money won't break the bank but will make you feel better.

Little_Miss_Uni-Debt

Hey PinkSparkles,

I did this too, for two whole years. At the end I was ill, worn out, miserable and had missed out on so much stuff.

Maybe if you have a treats jar and as other have said, allocate yourself £20 each payday, or whatever you feel appropriate.

Then if you don't spend it all, it goes back in the pot. It may even increase to the point you can save up for something larger as a treat.

It still keeps you in a 'saving money' mindset and it can be guilt free because it's in your budget. You also get rewarded at a later date if you don't spend because you can always use it on something else

Pinksparkles26

Thanks for all your advice everyone. I will def be setting aside some treat money every month and making sure i don't feel guilty about actually using it x

alibob_1986

I don't spend much myself either but I have noticed the difference in my attitude compared to others. For example, I went out with my mum the other day and she offered to buy me a new outfit as I hadn't bought anything new for ages. ANyway, we were looking around and she picked up a top and was like "ooo this is nice isn't it?" I said yah and looked at the price but was like not for that much though, I'm not getting a top that costs 20 quid! My mum was like oh go on treat yourself I am buying but I was like even though I'm not payin I cannot own a top that costs that much money! If it had bneen amazing then she would probably have changed my mind lol but for a normal vest top type thing with a logo on....not a chance!

lvm

Hey!

I know EXACTLY how you feel! I think I flicked a switch and suddenly my whole finances are so strict and I don't want to mess up anything. I've now got spreadsheets for my bank account, debt payment, asset and liabilities and if anything doesn't match up it freaks me out.

I've got a CC I use with a low limit and I let myself use as much of that as I like but I budget to pay off in full every month. That credit card has to buy my food, fuel etc so If I'd rather buy a bunch of clothes instead of eat then that's what I have to do.

But...if you've got £500 spare every month, why don't you just chuck it all at your debt (well, maybe £400 of it) if it gets rid of the debt quicker then treat yourself with a huge present on the first month you're not paying your debt...

Pinksparkles26

LVM thats what i'm doing throwing every single penny at my debt. I have cleared my £2000 overdraft and £1200 in 8 months. Have a loan of £800, CC of £3000 and car loan £5000 left so aiming at the £800 loan now. I know i should go for the CC as its the highest in interest but as the £800 one is easiest to achieve it will keep me motivated. Just feel so tense about all my finances now even though i'm fine. I can afford to live and have spare money just wanting it gone it makes me feel anxious that i've still got debt and if anything happened to my car etc i'd have nothing to pay it with as my credit rating is so low. Hopefully though its getting better as i'm paying off things fairly quickly now