Another one..:-)

itsgototstop

Hi All,

I've been reading for a while and have decided to take the plunge and say hello...

I am using a lot of tips I have seen here to try and stop spending on things I don't need, debt levels are going down now but I do get stressed about them and usually turn to the wine!


xx

Smashing

Hello! Please do take the time to complete an SOA so we (and you!) can see how things stand at the moment.

itsgototstop

Hi,

Its getting better, in the past I have had no idea where the money has gone...

millionaire_in_training

welcome. If tihs is everything then you can afford to take out £200 per week but if thats for 1 person then I think it's quite a lot. It really depends how quickly you want out of debt tbh. The more you cut down the more you can fire at the debt. Good luck xx

itsgototstop

I've just downloaded bank statements for the last 3 months, the amount I spend on takeaways, fags and booze is scary, looks like 500 a month and thats not including where I pay by cash...

I really want to get into a better way of spending, its hard come by and yet I seem to waste it, not any more!

kittykirsty

Hi, first of all well done for posting!! Someone i'm sure will be along soon to help you out more, but totalling up all your outgoings (excluding cancelled and nearly cancelled), and factoring in £200 a week for food etc that comes to around £1700 outgoings and £4200 incomings. Which obviously means potential savings of £2500 a month. This sounds like a great amount to have, and will feel so good when you're saving that every month instead of having to pay off the debts!!

You should therefore be able to clear off your barclaycard in one month instead of two, and pay off Virgin seven months after which would probably be Feb next year so is realistic if you keep on target with your budget.

£200 a week for food etc seems like quite a lot to me, but you don't mention how many of you there are? Maybe check out the moneysaving old style board for how to food shop/cook on a tight budget and that should bring it down. I would cut down on everything else you fritter money away on too (i have a tendency to fritter, and it's amazing how quickly the money disappears!).

Can you change your contract for your mobile/cut the costs by using your house phone more? Are you sure your travelcard is the cheapest way you can travel? Around where i live there are a few different options for train tickets etc, and the costs vary a lot! Can you also maybe clear your barclaycard right now by transferring to virgin? (may not be worth it if you can pay it off real soon)

If you can manage to pay off all your debts by feb next year, it's only 8 months away, so just keep on thinking about that! Once that's paid off you can think about a treat for being so MSE, but until then, motivation from yourself and others on here is great for keeping you going! HTH

itsgototstop

Hi,

Its just me and the pets!!

Lodger is leaving soon and I really don't want to get another, council tax will go down and so will me cleaning!

200 a week goes sadly too quickly, fags (pack a day) a few bottles of wine, buying lunch at work, buying dinner on the way home (usually takeaway) treats for pets as I feel guilty if I have worked late....

rog2

itsgototstop wrote: »

200 a week goes sadly too quickly, fags (pack a day) a few bottles of wine, buying lunch at work, buying dinner on the way home (usually takeaway) treats for pets as I feel guilty if I have worked late....

Hi itsgototstop (did you spell your name correctly? )

For what it's worth, I was on two packets of cigarettes a day - now I roll my own - this means that I smoke less because of the hassle of rolling, I enjoy the taste more and I spend £15.00 a week on smoking, as opposed to £80 - £100. I know that I would be £15.00 a week better off if I stopped altogether, but I don't want to.
I also love my wine, but am more selective now - I look for the half-price offers and can drink a half decent bottle of Chillean Cabernet for the same price as a cheap European table plonk.

Pollydaydream

Hi and welcome. I'm new myself, so not sure I can be much help.

I can relate to the fags and booze though. In the days when I still had credit cards and some money in the bank, I was easily spending about the same as you. It didn't really register how much it was - I just handed the card over and tried not to look too closely when the statement came.

I'm still spending too much on both things, but I realise now that actually I'm spending about a third of what I was, and I haven't really noticed that happening. The only real difference is that I only use cash now (although admittedly I don't have much choice).

Can you leave the bank card at home (or with someone else) and try to just use the cash you draw out.

Also, try starting a spending diary for a while. Writing it all down will show you where the money is going.

Good luck.

tigerfeet2006

Start taking packed lunches to work. It's surprising how much tha will save. Also see if you can batch cook and freeze meals that you can pop in the microwave quickly when you get home. Save money on those take outs. The Old Style board is brilliant for ideas etc.

Definatly start a spending diary and write down EVERYTHING that you buy, even a chocolate bar. It's an eye opener.

Redbedhead

Consider using a wine merchant to cut down your spend on wine - maybe go to Majestic once a month and you should see that decrease.

Re the takeaways - we went through a stage of that. Maybe you just need to be a bit better organised - make sure there is something quick and easy to eat in the fridge for when you get home. If you are short of time then consider ready meals - some are horrid, but others can be good.

Would you be willing to make lunch and take it in to work?

Would you consider giving up or cutting down on the smoking?