Is anyone starting from scratch???

C.W

LaLa_22 wrote: »

Is anyone starting saving from scratch, literally £0? Because thats where I am at the moment and I feel a little useless now haha!

Me! This month is the first month I'm trying to get myself sorted. Doesn't help the budgeting plan isn't accurate yet as I keep forgetting to either write things down or cancel things I didn't want. I'm thinking, the more I persevere, the better I'll get at it though. Can't be bad with money forever if I continue to learn what I can about managing it.

davenport151

Hi C.W. and welcome - please do tag along with us.
The spending diary is a great help. Just sometimes you need a little discipline to write things down. The other suggestion is to collect receipts and do it that way. Takes a while for it to be a habit but its worth it.
I think I need to re - think my savings buffer amount in regards to emergency funds. Will update soon.

ShootForTheMoon

Hi Gang,

Sorry I haven't posted for a while... Been absolutely crazy busy at work with the NATO Summit...
On the plus side, just worked out I've done just over 160 hours of overtime :eek: which should be paid this month or possibly next depending how long it takes work to sort it all out...

That money is going straight into the deposit fund - must be disciplined with it!!
It's also my birthday next week, I've asked for cash, so might treat myself to some new clothes and perfume and pop any remaining into Premium Bonds - fingers crossed for a win!!

Hope everyone is well!! Nice to see some new faces too!!

Shoot x

davenport151

Hiya Shoot! That's some overtime you have there.

Hope all is going well for the newcomers as well -don't forget to share success (and failure) with us.

Ermm... I may be starting from total scratch again.:eek:

There is a very good reason for this though. I have a chance to purchase my Uncle's car. He died recently but was fantastically organised as everything was thought of and paid for. The car is newer than I could ever afford to buy and I just need to pay half book price on it.
So this will wipe out all my cash but hopefully I am in a good position now to start rebuilding that buffer - even if my home improvements will have to wait.

ShootForTheMoon

It will be nice when the pay cheque comes in at the end of the month... But I'm exhausted now!! Luckily, got a WHOLE day off on Saturday!! :j

Go for it Davenport... It will be a good investment in the long run, less maintenance and you'll retain the value in the car if you're only paying half what it's worth!! You've done so well saving so far, you'll soon build it back up again!! :beer:

Shoot x

davenport151

Thanks Shoot! Thats exactly what I thought! My Uncle took good care of his car.

Enjoy your (hopefully) restfull day off. I've got one on Monday to look forward too!

debonair

I started from scratch.
I started looking at this site in March and seeing what other people can do stops you thinking 'it's not worth me saving because I don't have much'. I have opened two TSB accounts and put two thousand in each for the interest, switched my bank account to Halifax for the rewards and opened an isa - one hundred in there from the Halifax switch so far, and I started with nothing in April!
If you haven't looked and compared your bills in a while get on and do it. You could make serious savings, I did. Budget for all your spending.
I wish I had started this years ago. If you're young and not well off, put something away, a pound or two, a tenner here, a fiver there, it adds up over the years. If, like me, you have left it late to get a grip on your finances, start now. It's really easier than you may think.once you make that first step. If you need advice you're in the right place to ask, if you're reading this you're here already!

davenport151

Debonair -that is exactly what i used to think!
I will start saving when.... Its not worth putting a small amount away!

Though I have never been in debt (apart from a mortgage)! I have never been a high earner. When you are young and have money you maybe don't think to save.
Though I am back at scratch again its ok. I paid out for a car that a year or two a go I would not have been able to. I have had an increase of hours (which helps) but this is 'extra' and not part of my monthly spending.
I now need to review my budget. I did have to put the car insurance on DD though at least the last few years I have paid for it up front. This goes on essential spends so its always taken out before my monthly 'allowance'

Money saving vibes to all for this month!

davenport151

Actually not a bad month money wise.
Although all cash was cleared out because of the car purchase I did get a small sum for my old car -though this mostlly went to car tax on the new -then I also got back 2 months on the old one!
I also finished the month with a little spare cash for a small trip out in half term and treated my mum to a day out. This only involved the expense of petrol (monthly essential spending) as we took lunch. So all in all not too bad.
Cautiously heading towards Xmas and also hoping to get at least one floor and one wall unit done in kitchen as doors are falling off! I have tried to fix them but this is the third time and they do need replacing.
I am hoping it can be replaced with a larder unit which will really help with space and storage. Very lucky as I know a good carpenter that can do this.

Also opened a TSB account and will upgrade my nationwide one to maximise on interest. So kudos to me for that!

Money saving vibes to all this month!

KONG

I am also starting from scratch and save alittle here and there. But for the last two months I have bought different things I needed for my home etc. New duvet's and much more. So I start the new saving of 1. January 2015! I think I will start a debt free thread when the time comes.