I can't stop spending! Getting disheartened

englishrose19

DannyboyMidlands wrote: »

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

Who said anything about tax payers money?

krustylouise

DannyboyMidlands wrote: »

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

I'm a single working parent who works full time. I'd be financially better off on income support (which I'm fully entitled to claim) but I prefer to earn my wage, pay my taxes and pay my way. Off you pop.

P.S. I haven't had a holiday in over 9years and my DD hasn't ever had 1, so take yourself off, get your facts together and come back to this battle of wits when you're not completely unarmed....

krustylouise

aliasojo wrote: »

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.

Thank you. I find if I save money in an emergency fund for car, school etc I tend to overspend on uniform and then don't have enough for the car (for example!) so thought creating seperate accounts may be a simpler way for me to manage if you see why I mean?

aliasojo

krustylouise wrote: »

Thank you. I find if I save money in an emergency fund for car, school etc I tend to overspend on uniform and then don't have enough for the car (for example!) so thought creating seperate accounts may be a simpler way for me to manage if you see why I mean?

Thing is though, I think if someone is prone to overspending, then they'll overspend regardless of which account the money comes out of. You just gotta get strict with yourself.

BUT....if you think it might work better for you, then there's no harm in trying. Accounts are easily opened and closed these days so it's not like it's a huge faff to give it a go.

krustylouise

Yeah I see what you mean. If I have £20 in my account solely to use on uniform then I would only spend £20 even if I saw a cute cardigan for DD. but if I've £30 (which £10 is for petrol) I'd end up buying the cute cardigan and trying to scrape by petrol wise! So silly, never really had anyone to teach me finances when I was younger so am learning the hard way I'm afraid.

aliasojo

krustylouise wrote: »

.....So silly, never really had anyone to teach me finances when I was younger so am learning the hard way I'm afraid.

Never too late to learn though. At least you're looking for ways to help change bad habits now.

You gotta put it all into practice, don't just talk about it. Go and browse for new accounts now........go on.

krustylouise

Hahaha I already browsed today in my lunch break. Would it be better in another cash card account or saver?

aliasojo

krustylouise wrote: »

Hahaha I already browsed today in my lunch break. Would it be better in another cash card account or saver?

Not sure what 'cash card' account you mean but personally I'd be looking for whatever savings account was easy access and had the best interest rate.

I haven't looked at the main site saving page for a while so not sure what's being recommended right now, probably best to go have a look.

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#bestbuys

Also see what people are recommending on the Savings board...http://forums.moneysavingexpert.com/forumdisplay.php?f=17

datlex

krustylouise wrote: »

I went for a massage today (I've a bad shoulder and a chiropractor quoted me £28 for 10mins treatment!) so decided £55 for a full hour massage would be best option. I know this is luxury but I've not had 1 in a very very long time, I feel shattered and wante a treat for myself.

If I were you I would check out if other beauty salons near by are cheaper. At one local to me can get a back massage for £15 for 30 mins. Big difference from £55 and cheaper than the chiropractor :-) It's a bit like brand shifting you don't go without you just buy more wisely.

Seen_the_light

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

I have about 10 e-savings accounts linked to my Nationwide current account. Each is individually named (you can edit these on line) and I put small amounts in each every month having divided my annual allowance for each into monthly payments. Works a treat for me (I don't know what the limit is for the amount of possible e accounts - and neither did the cashier when I asked!). With Nationwide you can also have up to 4 Current Accounts. Really useful for 'Piggy Banking'.

All of these can be managed on line.