Cant stop spending...

lee111s

Pay more off your debt at the start of the month. If you don't have the money you can't spend it.

madaminx

I've opened a credit union account with a monthly standing order of £50 savings that way I can't transfer across. I also have a spreadsheet which indicates disposable income bills, insurances etc and also weekly shop.

I'm now in the process of sourcing a longterm budgeting tool into which I can put in the same figures in conjunction with outstanding debts in order that I can get a longterm view of my debts decreasing. That way I hope to be more motivated to manage my money better and pay off my debts.

I hope this helps - if you want a copy of my spreadsheet let me know I will email it to you.

Thanks

CharllieSays

I took a business and marketing course. After I worked out all the ways in which companies were trying to make me buy stuff, I found I no longer wanted to pay their wages. Advertising no longer works on me now. Even when I have the money, I dislike shopping. It literally makes my skin crawl watching adverts or going into most shops. The harder something is advertised, the less I want to buy it! I fail at consumerism!

itsanne

I don't want to be unkind, but what makes you think you're good at budgeting? If you were good at budgeting you wouldn't have frittered the £1200 away and wouldn't be in debt now. You need to realise that if you're going to make any progress. Having said that, acknowledging the need to change and posting on here is a step in the right direction, so good for you.

What about practicalities then?

First of all, increase the £200 you're paying towards your debt. Set up a standing order to be paid a couple of days after you get paid (to allow for delays). That's the most beneficial thing you can do until your debt is done.

Don't take a back-up when you go out with your friends. Decide how much you are willing to spend, including the taxi, and just take that, but keep the taxi fare separately in an envelope so you can't accidentally spend it.

Find other "rewards" for your boyfriend . If he wants to help you reign in he won't want you spending on random presents. Challenge yourself to find other ways of showing him you appreciate him. Making a special meal would cost a lot less than a carry out.

Break down how much you have to spend into weekly installments at the beginning of the month, but try to spend less. Put any extra into a savings account in the hope that seeing it grow will help motivate you. Whatever you do, don't blow it on unplanned treats! Plan what to do when you reach a particular target - perhaps half towards your debt and half to a really special treat.

Stop taking your cards out with you. If you have to go shopping, work out what you need and write it down. Don't buy anything not noted and only take out enough money to buy what you decided in advance.

Use the advice others have given on here. You can do it.

Hopefully, if you can curb this bad habit now we won't see you on here in years to come asking for advice on how to declutter!

learningtosave

Ooh maybe I should do a course too then

geelamch

My partner and I used to spend our salary like yourself,then a lightbulb moment several years ago meant we paid off all debt(no social life for about 8 months)started seeing our savings increase and now this seems to be a joint interest for us both.
You'll be amazed how quickly you see your bank balance go positive as you pay no interest etc on mostly unnecessary purchases.
In honesty now that we have savings we seem to do more than previously.
Only problem for major purchases,,ie. car,sofa we never seem to do it as we seem to have become two misers lol!!

CharllieSays

http://www.youtube.com/watch?v=JeN-t3k08ak

That video explains the basics!

cydney65

CharllieSays wrote: »

http://www.youtube.com/watch?v=JeN-t3k08ak

That video explains the basics!

That was really informative thank you