I can't stop spending! Getting disheartened

krustylouise

Bobarella wrote: »

How are you feeling today about everything Krustylouise?

I'm feeling a little better (aided by a surprise increase in my tax credits) which helps me think right you've been given a little break here! Thank you for asking x

krustylouise

lantanna wrote: »

Sometimes I feel exactly the same as yourself, though like me I can see you have some debt so why dont you worry about getting rid of that first and then you can start to save seriously. I would put any extra money towards your debt - that way you will be achieving something in the short term. Im 34 and sometimes I think the only way for me to be able to save would be to give the money to someone else to look after......................

Hi,

Do you have an emergency fund at all? I don't have anything and I really could do with one. This is what I've been dipping into. I'm paying extra off my debt as and when but would feel better knowing I had a safety net just in case.

krustylouise

kerri_gt wrote: »

Ahh, that makes sense - thanks for the clarification I'm not 'getting' at you about the spends, so long as they aren't (drastically) delaying our DF path, life is pretty miserable without them.

I'm sitting with one of my treats atm, a lovely Lush face scrub - OH says it looks like someone's been sick on my face - charming! :rotfl:

In prev years I used to allow myself £30 - £50 to spend at the beginning of the month on one or two things for me, I'd spend the prev month choosing them so I had something to look forward to buying, then order them / go to the shop on pay day.

I guess it's hard to determine what's a good treat amount as it all depends on individual circumstances - do you have any idea what you can afford and what you wouldn't feel guilty about spending on just you? Perhaps some months you don't need to spend it all, sometimes a nice top / jeans / massage is in order, sometimes just a bottle of bubble bath and a scented candle will do the trick.

I haven't a clue what I can afford ATM, I thought I did but it's all gone to pot recently so will focus on creating a spreadsheet to update my finances often. I don't even treat myself once a month, I don't drink/smoke/go out, so I've no idea where my money goes, I tried keeping a spending diary but got bored updating it all the time. Really should pull my finger out...
Thanks for your replies, I really do appreciate the time, effort and thought people have spent for me

Bobarella

Brilliant news! See, that is a good sign. Really pleased for you.

krustylouise

Thank you Bobarella I'm going to try and decide a budget and stick to it!!!

Bobarella

Go for it!!!!

krustylouise

Hi,

Does anyone think it would make sense to open another 5 accounts so I can separate my money into it for various things, so I'd then have a bills account (already have this) food and petrol account (already have this) then I'd open them for clothing, school, treat fund, emergency fund and car fund. I'd set up standing orders into them from money and hopefully build up a decent amount

his_missus

krustylouise wrote: »

I'm feeling a little better (aided by a surprise increase in my tax credits) which helps me think right you've been given a little break here! Thank you for asking x

Do you think you could afford to put away your tax credits increase into a savings pot? Then you're saving money without actually touching your usual income, if that makes sense:o

krustylouise wrote: »

Hi,

Does anyone think it would make sense to open another 5 accounts so I can separate my money into it for various things, so I'd then have a bills account (already have this) food and petrol account (already have this) then I'd open them for clothing, school, treat fund, emergency fund and car fund. I'd set up standing orders into them from money and hopefully build up a decent amount

Do you think you could manage that many accounts? Between me n Hubby we have 3 accounts, his for the bills, mine for daily expenses and a savings one for saving up for holidays/xmas/house purchases.

I also had a kind of life policy over 10 years (I think someone mentioned something similar on the first page) that I put £20 into a month and got a lump sum when the 10years finished. Interest/bonus rate wasn't great but I saw the £25 as a bill rather than a savings (if that makes sense) and the lump sum was very handy. I decided not to renew it and planned to save £20 a month into a separate savings account but, like you, it was tempting to spend it and that savings account has 13p left in it now, hmmm...

Thing is, what works for one person may not work for someone else. Hope you find what works for you.

aliasojo

DannyboyMidlands wrote: »

I wish I was given other peoples hard-earned to spunk on trampolines, massages and holidays. Mmmmm lovely generous taxpayers.

Ach never mind, I'm sure you have been blessed in other ways. Like a warm caring nature for example......oh no, wait.......

aliasojo

krustylouise wrote: »

Hi,

Does anyone think it would make sense to open another 5 accounts so I can separate my money into it for various things, so I'd then have a bills account (already have this) food and petrol account (already have this) then I'd open them for clothing, school, treat fund, emergency fund and car fund. I'd set up standing orders into them from money and hopefully build up a decent amount

You could do this but it depends on how organised you are.

I personally have a Santander e saver account and I transfer money into that every month. This covers all my yearly bills and anything I'm saving for.

I have an excel spreadsheet (very simple, doesn't have to be a fancy complicated thing) and I list everything I need to pay, divided by 12.

So each month I know I need to transfer say £15 for my tv licence, £30 for car insurance etc etc. I have around a dozen things I need to pay and maybe 3 or 4 things like clothes or similar (although the reality at the moment is that only the needs are being covered, can't remember the last time I bought clothes, lol).

It means all the money is in one account but it's separated into columns on my spreadsheet so I can see at a glance how much is there for insurance or oil or whatever.

I agree with his missus, it's just a case of finding out whatever is best for you. Hopefully you'll get more suggestions to think about.