no debt, no savings, no assets, just blah. HALP!

[Deleted User]

lessavyfav wrote: »

I live with two other girls

So the rent is actually £1,902 pm?

That's nearly £23,000 pa. :eek:

lessavyfav

Bedsit_Bob wrote: »

So the rent is actually £1,902 pm?

That's nearly £23,000 pa. :eek:

hey man, i live in London, Zone 2...and that's kind of a good deal considering the size of the home and bedroom, and the fact i'm not living with 5 others..this is the norm in London.

The hair thing I understand everyone thinks is ridiculous and I agree, people. I am getting this under control, believe me!!

lessavyfav

Bedsit_Bob wrote: »

You are spending £1,200 pa on haircuts? :eek:

Who do you go to, Vidal Sassoon :huh:

Likewise, you are spending £5,100 pa on entertainment? :eek:

With no partner or children, who are you spending £300 pa on presents for?

presents are for nephews, plus i have a much younger brother...i don't spend a lot on them but i have a fairly big family as well as big and wide group of friends. to be honest, i think i underestimated the amount i spend on presents.

Help and tips are appreciated but judgement, really don't need that..i have NO DEBT so it's not like I have let anyone down. I'd just like to get in control and have savings, followed on by investments, behind me.

eyeopener2

I suppose we are so used to people in mountains of debt AND spending like theres no tomorrow that some of the posts may come over as judgemental. I don't think thats the case (or I hope not). I actually think most of us would love to be in your position where we are able to make choices rather than paying back the evil banks.

Good luck on your journey.

SamanthaDawn

Do you have a Taste card? You can buy one for about £30 and get half price meals out in loads and loads of restaurants in London. Means you can still go out for nice dinners but save a bit of money in the meantime

determined_new_ms

Hi lessavyfav just wanted to say well done on starting your journey! There is a diary by londongirl (i'll dig it out in a minute and post) and she lives in London (as I'm sure you've guessed!) and has reduced her outgoings to clear her debts. However she has still gone out and socialised so it is possible to still spend time doing things for free/low cost. Read through for inspiration

I wish I lived in London as there are so many free things to do. Look out for free events, museums, exhibitions, cheap theatre tickets - so much more to do than going to the pubs!

Re your hair have you thought about being a model? A friend of mine in London used to get her hair but for free by vidal salon. Or can you find out about a home hairdresser and get your hair done every 6 weeks say?

ms_london

I moved out of London last year to buy my first home, and I was living in London when I repaid the £19,000 of debt I had..

You say you want to leave your current house, could you move to a slightly cheaper area? I totally hear you with house sharing dramas, my old flatmate used to use all of my stuff, drove me mad!

I guess it depends on what your plans are and what you are saving towards, it is so easy to fritter money away and even I do it now the minute I take my eye off the ball..

Everyone is allowed a luxury, if that's your hair then that's up to you. With me I would rather spend more on holidays and trips than I would on clothes or my hair, or alcohol. I would say ignore what your friends say and do what's right for you, you don't want "FOMO" to lead you into debt down the line as we all need to draw the line somewhere.

Good luck xx

determined_new_ms

as promised although it was a long minute...

http://forums.moneysavingexpert.com/showthread.php?t=3513183

hope its helpful

mildredalien

Well, you CAN afford the lifestyle you have now - as you say, you have no debts so well done on that! A lot of people would be tempted to have taken out loans or have credit cards to keep up with their friends...

I suppose the main thing is to think about what your priorities are and getting a grip on your finances as they are now. You say you have holidays planned and have seen your family over the last couple of years, but those expenditures aren't in your SOA. Where is that money coming from?

Probably harder to do than to say, but try not to feel pressured by friends. Money is one of those things that people don't like to talk about and everyone's situation is different, but perhaps your friends would relish the idea of doing things that don't involve so much money!! Perhaps you could cook for each other rather than going out to eat so often, or find things to do in London that are free... if your friends don't want to support you to be more financially savvy then !!!!!! em

Good luck!

lessavyfav

Thanks again for your advice, especially the link to londongirl's diary..really inspiring and I'm only a third of the way through it! I am going to allow myself £70 spending money a week as she has done and use this as entertainment/beauty/clothes/presents budget...I think it will be a challenge (especially as I am running out of a few of my essential makeup items!), but hey, it's what I need to do to save!