How to fall in love with saving money

DealFan

Scrimping too much can just make you feel poor, so I find it important to balance saving with spending. There's something I try to avoid called 'mental poverty' where you imagine you can't afford good things because you could never be affluent enough. The key to making bigger money is to believe you're worth it and act accordingly (e.g. go for a higher paid job). The rest will follow.

cathybird

JoJoC wrote: »

Hi Cathy,

Just popping in to say hello and try to keep my motivation for saving high!

My bank balance is looking pitiful this morning, but husband is getting paid (weekly pay) today and it should be in the bank about lunchtime.

I saved £3.50 yesterday by going to the park instead of softplay so i put that money into our bank.

How is everyone getting on?

I'm definitely falling in love with saving money, but i do still love spending so i must make sure that the savings loving side wins!

:A

I'm going well thanks JoJoC I'm pretty motivated at the moment. Saving very small amounts like £3.50 too. I have definitely got the bug. I still get tempted by things I want (mainly books) but at the moment am managing to put them aside mentally till I forget about them. Am hoping the "put aside till I forget" muscle develops more strength as time goes on.

cathybird

DealFan wrote: »

Scrimping too much can just make you feel poor, so I find it important to balance saving with spending. There's something I try to avoid called 'mental poverty' where you imagine you can't afford good things because you could never be affluent enough. The key to making bigger money is to believe you're worth it and act accordingly (e.g. go for a higher paid job). The rest will follow.

Thanks, DealFan. I'm never likely to become the sort of person who prefers scrimping to that degree, I have to say :rotfl:If anything, I've had to learn to scrimp much more than I do. But you're absolutely right, balance is really important - you've got to live life now, as well as prepare for the future.

JoJoC

I agree with what DealFan said above too- I'm trying to change my attitudes but not to the point that we can't treat ourselves!

I'm hoping that by becoming more frugal and careful with money, we'll enjoy our treats a lot more and teach our son the value of money. He's only 1 but I'm sure he'll pick it up at some point! Haha

longleggedhair

Glad to hear everyone is doing there bit. Making small savings here and there soon add up. Has anyone else heard the adverts on radio advising people to save £3 a day and in a year you will have £1000. That really shows how "just" buying that sandwich or latte can prove really expensive.


Not had the best of weeks as has to have car repairs which cost me £180!! Plus an expensive phone bill from my trip to New York. Should still be on course to have put away about £600 this month so not all bad.


Keep up the good work guys

dave875933

Dealfan, on spending and believing you are worth it:

A guy out of Blur was was saying in an interview that he spent £1m in the Groucho club and he honestly believes he got it all back and some (presume in good will and connections).

Maybe his accounting isn't as good as his muscial talent though.

cathybird

longleggedhair wrote: »

Glad to hear everyone is doing there bit. Making small savings here and there soon add up. Has anyone else heard the adverts on radio advising people to save £3 a day and in a year you will have £1000. That really shows how "just" buying that sandwich or latte can prove really expensive.


Not had the best of weeks as has to have car repairs which cost me £180!! Plus an expensive phone bill from my trip to New York. Should still be on course to have put away about £600 this month so not all bad.


Keep up the good work guys

Sorry to hear about your car repairs, longleggedhair. My car needs a bit of TLC but I can probably put it off another couple of months, maybe more. £600 on top of the repairs and a pricey phone bill is not bad at all.

Thinking of £3 a day as potentially £1,000 is actually an incredibly useful way to think about it.

cathybird

dave875933 wrote: »

Dealfan, on spending and believing you are worth it:

A guy out of Blur was was saying in an interview that he spent £1m in the Groucho club and he honestly believes he got it all back and some (presume in good will and connections).

Maybe his accounting isn't as good as his muscial talent though.

If he made more than £1m back that would make sense but even so, that's a lot of money to give the Groucho Club

YoungBusinessman

cathybird wrote: »

Sorry to hear about your car repairs, longleggedhair. My car needs a bit of TLC but I can probably put it off another couple of months, maybe more. £600 on top of the repairs and a pricey phone bill is not bad at all.

Thinking of £3 a day as potentially £1,000 is actually an incredibly useful way to think about it.

I am doing this!! Brilliant challenge!

cathybird

YoungBusinessman wrote: »

I am doing this!! Brilliant challenge!

I'm tempted to do it too and I agree In fact I probably have a lot more than this in coinage sitting round the house right now. (Again.)