Do you give yourself an allowance??

rebekahR_2

Hi

I am new here, hoping you guys can assist

I want to try to reduce my spending and make things stretch a bit more. Also want to stop using my debit card and stick to cash.

Was thinking of maybe giving myself a £30 allowance each month to try and keep disciplined then put my card away for safe keeping/emergency

Do you guys do this ?? Has it made a big difference to your spending?

That allowance for me would be for clothes, cleaning stuff, my food and travel costs

Any input would be greatly appreciated, thank you

YORKSHIRELASS

Yes I do this and it really focuses your mind. I keep a spending diary too.

I have an allowance of £30 a week which covers things like car parking, bits for the kids, birthday cards and any other odds and ends. I draw out the cash every Monday and have to make it last.

There are loads of spending challenges on the Debt Free Wannabee boards, its good encouragement even if you arent in debt.

sonastin

I have an "allowance" for everything I want/need to spend money on, and then keep track of all of my spending in a spreadsheet. So, £200 per month for groceries, £240 per month for petrol, + bills, mortgage, etc. These are the things I spend every month but then there's the other pots: eating out, clothes, car parking, holidays, presents, etc. I can go months not spending in a category and then go over budget in one big spend (e.g. presents - lots in december, none in june or july) but tracking it this way helps make sure there is enough for me to do everything I want and I can balance it over the year.

CT19720

I have a separate purse with £30 to £40 pounds in and pay for fruit and bread out of that, and any other bits we may need once a week. This money comes out of our joint account. If there is any money left in this purse at the end of the week (usually about £10 it gets saved and put in the pot for treats).

I find that if I have to pay with cash I really think about how much I really need to buy - I don't like breaking a note :rotfl:. I always have bank cards on me, but am certainly not usinging them as much as I used too.

rebekahR_2

Thanks, I will check out the debt wannabe challenges

I've dug out an old purse, this will be my allowance purse from now on. Thank you

Snowy_Owl

I allow myself £5 a day for papers, snacks, bits & bobs. I have a different purse for groceries. I also try not to cards with me where possible. I'm really trying to build up my emergency/back-up fund after having to get a "new" second hand car. I find by turning it into a gmae makes it a bit more fun.