Flat Eric tries again ....

Flat_Eric

ZTD wrote: »

You need to analyse more deeply why you spend. If you consider Spending = Pleasure and Not Spending = Pain, then you have a problem to ponder. I'm not saying this is you, but some people approach "spending diets" as a good way of flogging themselves.

Flogging yourself probably leads to good definition in the old biceps, but it's no way to be on.

Why do you want the Kindle?

Interesting post. Will give it some thought.

Don't want a kindle - would like a kindle. Was sorely tempted a few months back but had already spent birthday money on other things so couldn't justify the expense and its not something I want enough to hit the credit card for. I catch two buses home from work - one of which costs me £1.30 a day - I refuse to pay this because there have been two price increases in as many months. It takes me about 25 minutes to walk instead.

Over several months, this money saved will add up hence the decision to buy a kindle (or something else expensive that I would like -say a personal dab radio). I am not sure what the item will be but the idea behind it is that I will have saved over many months and therefore can buy said item guilt free and with no credit card hangover.

Flat_Eric

Its been nearly two months since I last posted :eek: and Christmas is fast approaching.

I'm frustrated that in just over two weeks, lots of posters will be opening up their sealed pots - I gave up on mine much earlier in the year. I had wanted to save £500. How nice it would be to have £500 to spend as I pleased and to help out with Christmas.

Instead I shall be opening up my pay slip and wondering how I am going to be able to afford not only the usual monthly expenditure but how I am going to fund Christmas.

The financial hangover of Christmas 2010 was one that took many many months to get rid of. I don't want to repeat this for Christmas 2011.

I'm still overdrawn every month and this is something I need to work on asap.

Unless I win the lottery, there is not much chance of my financial position improving much before Christmas but there are changes I can make right now that will mean that slowly but surely, I can cut up the credit card, not need my overdraft and start to build up some savings again.

I will comment further on this in the next post.

Flat_Eric

It would be very interesting to go back and pick through my bank statements with a fine tooth comb to see just what I have spent my money on over the last year because of course whilst I have to pay for my bus pass to get to work and buy food/pay for dental treatment (for want of a better example?), I don't have to have the latest book by my favourite author or yet another cross stitch kit/magazine. Likewise, do I really need to buy Good F00d magazine each month when i probably have many from my subscription that has now expired (bought with Mr T vouchers) which are unread.

I will leave that for another day, perhaps next year when I compare my much improved financial position on 1 December 2012 as compared to 1 December 2011....

Flat_Eric

I feel happier for revisiting my diary tonight although I remain frustrated and disappointed that some 18 months after my first no spend thread, things haven't improved much.

I can't undo the last 18 months but I can work hard at making the next 385 days as money saving as possible SO the plan is.....

To curb all unnecessary spending

This pretty much sums it up.

I'm going to work hard at saving spare change in my sealed pot and joining in the virtual pot too. I will have my £500.00 pocket money on 1 December 2012

I'm going to save my subscriptions from slimming world once I get to target and save these either in my virtual pot or in my sealed pot.

I'm going to save all £2 coins

No buying toiletries until everything I own has been used up!

I'm going to save all 5p coins!! (anyone want to count them for me ??!!)

No extra lottery purchases

Amazon purchases and craft purchases to be limited. Certainly nothing needed before Christmas. Pocket money for guilt free purchases to be worked out.

ZTD

Flat_Eric wrote: »

Its been nearly two months since I last posted :eek: and Christmas is fast approaching.

I'm frustrated that in just over two weeks, lots of posters will be opening up their sealed pots -

It doesn't matter what they're doing - only what you're doing.

Flat_Eric wrote: »

I gave up on mine much earlier in the year.

Why?

Flat_Eric wrote: »

I had wanted to save £500. How nice it would be to have £500 to spend as I pleased and to help out with Christmas.

It would be. About as nice as an old man with an obesity problem struggling down your chimney with presents and setting your burgular alarm off. Neither exist, so don't concern yourself with them.

Flat_Eric wrote: »

Instead I shall be opening up my pay slip and wondering how I am going to be able to afford not only the usual monthly expenditure but how I am going to fund Christmas.

You cut your cloth to suit your purse. Christmas will be of an expenditure you can afford. Are you competitioning?

Flat_Eric wrote: »

The financial hangover of Christmas 2010 was one that took many many months to get rid of. I don't want to repeat this for Christmas 2011.

So don't.

Flat_Eric wrote: »

I'm still overdrawn every month and this is something I need to work on asap.

Yes. So what are your plans?

Flat_Eric wrote: »

Unless I win the lottery, there is not much chance of my financial position improving much before Christmas

If you spend more than you earn, then even winning the lottery won't save you. Witness all the lottery bankruptcies that have happened.

The richest man in Ireland has just been made bankrupt.

Flat_Eric wrote: »

but there are changes I can make right now that will mean that slowly but surely, I can cut up the credit card, not need my overdraft and start to build up some savings again.

So are you going to do that?

Flat_Eric wrote: »

I will comment further on this in the next post.

Not just comments, but action. Say what are you going to do next.

Flat_Eric wrote: »

It would be very interesting to go back and pick through my bank statements with a fine tooth comb to see just what I have spent my money on over the last year because of course whilst I have to pay for my bus pass to get to work and buy food/pay for dental treatment (for want of a better example?), I don't have to have the latest book by my favourite author or yet another cross stitch kit/magazine. Likewise, do I really need to buy Good F00d magazine each month when i probably have many from my subscription that has now expired (bought with Mr T vouchers) which are unread.

I will leave that for another day,

Why?

Flat_Eric wrote: »

perhaps next year when I compare my much improved financial position on 1 December 2012 as compared to 1 December 2011....

Perhaps if you do it now, you will see what you're spending on *now* and will be able to improve the situation from *now*?

Forwarned is forearmed as they say...

Flat_Eric

Thank you for your post. I have answered your questions. I have included my original comments in purple italic.

Its been nearly two months since I last posted :eek: and Christmas is fast approaching.

I'm frustrated that in just over two weeks, lots of posters will be opening up their sealed pots -

It doesn't matter what they're doing - only what you're doing.



I gave up on mine much earlier in the year.

Why?

I was really keen at the beginning of the year and religiously raided my wallet and my OH's wallet every sunday evening. I fished out all unnecessary coins and into the pot they went. I also did the virtual pot raiding both my account and the joint account. Then there was one month where I simply spent too much money and was really overdrawn very early and needed to raid both pots to survive the month. I never got back into saving my spare change/raiding the bank accounts for the virtual pot.


I had wanted to save £500. How nice it would be to have £500 to spend as I pleased and to help out with Christmas.

It would be. About as nice as an old man with an obesity problem struggling down your chimney with presents and setting your burgular alarm off. Neither exist, so don't concern yourself with them.


Instead I shall be opening up my pay slip and wondering how I am going to be able to afford not only the usual monthly expenditure but how I am going to fund Christmas.

You cut your cloth to suit your purse. Christmas will be of an expenditure you can afford. Are you competitioning?

I am intending to be quite frugal this year. I have bought some presents already for people and will work out who is left to buy for and what my budget will be (without breaking the bank).


The financial hangover of Christmas 2010 was one that took many many months to get rid of. I don't want to repeat this for Christmas 2011.

So don't.

It won't be.


I'm still overdrawn every month and this is something I need to work on asap.

Yes. So what are your plans?

Cut all unnecessary spending. i.e. no more new books, no more cross kits, no perfume that I want like yesterday (will ask for it for xmas) no new clothes, no visiting charity shops. no toiletries. no new phone. nowt!

Unless I win the lottery, there is not much chance of my financial position improving much before Christmas

If you spend more than you earn, then even winning the lottery won't save you. Witness all the lottery bankruptcies that have happened.

The richest man in Ireland has just been made bankrupt.


but there are changes I can make right now that will mean that slowly but surely, I can cut up the credit card, not need my overdraft and start to build up some savings again.

So are you going to do that?

Yes!

I will comment further on this in the next post.

Not just comments, but action. Say what are you going to do next.

curb my spending as mentioned above.

It would be very interesting to go back and pick through my bank statements with a fine tooth comb to see just what I have spent my money on over the last year because of course whilst I have to pay for my bus pass to get to work and buy food/pay for dental treatment (for want of a better example?), I don't have to have the latest book by my favourite author or yet another cross stitch kit/magazine. Likewise, do I really need to buy Good F00d magazine each month when i probably have many from my subscription that has now expired (bought with Mr T vouchers) which are unread.

I will leave that for another day,

Why?

too tired this evening. may look at this tomorrow.

perhaps next year when I compare my much improved financial position on 1 December 2012 as compared to 1 December 2011....

Perhaps if you do it now, you will see what you're spending on *now* and will be able to improve the situation from *now*?

Forwarned is forearmed as they say...

Thank you for your post. You raised some very interesting points.

chickywiggle

ohh I was sorly tempted by the good food christmas special (never buy any) but was good and resisted.
You may already be but if you sign up to the good to know recepie newseltter you may get your 'fix' for free?

Flat_Eric

chickywiggle wrote: »

ohh I was sorly tempted by the good food christmas special (never buy any) but was good and resisted.
You may already be but if you sign up to the good to know recepie newseltter you may get your 'fix' for free?

To be honest, I don't know why I buy it because I much prefer Delicious (was given a gift subscription) Delicious seems to read better and has much nicer recipes? I never used to read the Good Food subscription copies I got with my Mr T subscription ? but now the subscription has finished, I seem to get suckered in by something nice on the cover and in the basket it goes. £3.60 is £43.20 over a year :eek:

Flat_Eric

ZTD wrote: »

Perhaps if you do it now, you will see what you're spending on *now* and will be able to improve the situation from *now*?

Forwarned is forearmed as they say...

Have crunched the numbers. In 2011 I have so far spent £842.66 on Amazon :eek: and £648.97 on my craft hobby.:(

chickywiggle

Flat_Eric wrote: »

Have crunched the numbers. In 2011 I have so far spent £842.66 on Amazon :eek: and £648.97 on my craft hobby.:(

ouchhhhhhhh (and thats not including impulse cash purchases)