Help needed please

Badsaver

Hi I am new to MSE and needs some help. I am a bad saver (hence the name) and need help on controlling my spending. I have a decent job (ish) but am struggling money wise. i have a house to run, I am the only person working in the house and have a toddler. Tips and ideas would be gratefully recieved!
Thanks

dippy-dora_2

Hi, you need a budget book. Just a - notebook that you write down you outgoings and incomings. After a month review it - work out what you can cut down on and what you can get cheaper, that sort of thing.
it helps just to have a written record as a first step in sorting yourself out.

jen_1985_04

Are you a member of any cashback sites?

These won't get you rich but every little helps, i find Pigsback to be the best (although you only get vouchers in return whereas with Greasy Palm/Free Fivers you receive cheques once you reach £25)

The money/vouchers i make from these sites i use to treat myself as i'm trying my hardest to save for a deposit and very rarely get to papmer my self.

hope that helps

dancingfairy

Hi. Have a look at the Debt Free Wanabee board. They're full of loads of useful advice. Also maybe have a look at MoneySAvingOldStyle for how to save money making things from scratch rather than buying in stuff.

Also how about a spending diary. It helps to see in black and white what you are really spending your money on- yes every cup of coffee/coke/newspaper/pack of cigarettes/choc bar adds up.

Maybe look at any bills you've got and see if you can get any of them cheaper? are you paying too much for your phone/internet/car tax etc- shop around and see what deals there are.

Hope this helps get you started.

Badsaver

Thanks for all your advice guys, can you explain a cashback site for me? how does that work?
Im def paying too much for my car ins...i was in a rush but thats up for rennewal this month so i will look for a cheaper quote.
I get paid tomorrow so i will start a notebook/spending diary tomorrow! i will also have a look around the site and see what i can find! Thanks for your help!!
:money:

jen_1985_04

http://forums.moneysavingexpert.com/showthread.html?t=429295&highlight=pigsback

This link should take you to the Pigsback forum (hope it works never tried posting a link on here...) where it will explain all you need to know about their site. Basically you get cash back for shopping on line - but the good thing is you don't necessarily need to buy anything to get cashback as some sites have daily clicks, eg Greasy Palm, Mutual Points, Free Fivers and some give out cashback/points for signing up to newsletters, (it may be a good idea to set up another email as some/most of the newsletters you sign up to are junk.

belfastgirl23

I'd say take it one thing at a time. Your task for the first few weeks is to notice what you spend money on. I'd suggest using the debt free wannabe board's budget planner tool (it's on the top menu) to help you figure out all the stuff you spend money on. It's also worth having a rough tally through old bank statements if you have them. Also keep a spending diary during this time of all the little things you spend money on (a newspaper, a bar of chocolate, lunch, maybe a latte can add up to £10 a day that you don't see going). Once you've done this, use the tools on here to work out the best way to tackle things. I've been doing it gradually since I don't want all of my bills coming up for renewal at once, so I did house and contents insurance in January, car insurance in February. In March I decided to start tackling household spending head on by doing the grocery challenge on the old-style board. But just take it one step at a time, it can be overwhelming otherwise.

Also it is worth looking at the debt free wannabe board for inspiration. I'm in the same position as you - reasonable salary but not managing to save and frittering money away on stupid stuff - but the people on there remind me of why it's important to save a bit. Just one bad knock (illness, accidents etc) can bring your whole house of cards tumbling down if you haven't managed to build some foundations. I feel very lucky to be in a position where I have enough income to be able to start to build the foundations and I'm grateful that I realised in time how important this is. Don't know if that helps you but it does help me a lot.

And good luck!

Oh and I just remembered, once I worked out what needed spent I created two budgets, one for myself and one for the household. Having a budget to work to really helps you to feel responsible for your money. And means you get pleasure out of what you spend it on.

Badsaver

Thanks for your help guys! Wish me luck!!!!:money: