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Top tips for single man
givememoney
Posts: 1,240 Forumite
I am asking this on behalf of someone else.
This man is living with relatives so his rent is very low. However, he doesn't earn a fortune and is paying back a loan.
His problem is, the money he has available after expenses, dentist, phone etc. burns a hole in his pocket.
He doesn't have to buy groceries although does eat out a couple of times a week but not at expensive places.
Anyone who has managed to conquer this need to spend instead of save and can pass on advice would be welcome.
This man is living with relatives so his rent is very low. However, he doesn't earn a fortune and is paying back a loan.
His problem is, the money he has available after expenses, dentist, phone etc. burns a hole in his pocket.
He doesn't have to buy groceries although does eat out a couple of times a week but not at expensive places.
Anyone who has managed to conquer this need to spend instead of save and can pass on advice would be welcome.
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Comments
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Some people just can't save. Don't worry about them. Just worry about yourself and how you will meet the bills.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
It's difficult to motivate someone to save when they've got it easy in terms of living costs. I knew when I lived with my parents and was earning decent money I'd spend it on all sorts of rubbish.
I found moving out and getting married (and consequently having kids) was about the only thing that motivated me to save!0 -
He has to do this for himself. You could suggest that he think of saving a repaying a loan. Rather than put away whatever he has left at the end of the month, suggest he put 10% of whatever is left after bills away into a savings book account when he gets paid. Then it's gone, and he can't spend it.
I decided I would rather save for a nice version of what I wanted than get a cheap version and make do. (Nice telly rather than cheap telly etc). By the time I'd saved up for it, I generally didn't want it much anymore, so I'd have saved the money.Some days, it's just not worth chewing through the leather straps....
LB moment - March 2006. DFD - 1 June 2012!!! DEBT FREE!
May grocery challenge £45.61/£1200 -
givememoney wrote: »I am asking this on behalf of someone else.
This man is living with relatives so his rent is very low. However, he doesn't earn a fortune and is paying back a loan.
His problem is, the money he has available after expenses, dentist, phone etc. burns a hole in his pocket.
He doesn't have to buy groceries although does eat out a couple of times a week but not at expensive places.
Anyone who has managed to conquer this need to spend instead of save and can pass on advice would be welcome.
Does he actually want any 'help' with this problem? Your OP is not clear imo.
NivYNWA
Target: Mortgage free by 58.0
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