The end is in sight

ShirePiskie

Have just parted with a phenomenal amount of money and have a new bed and mattress coming in just three weeks!!

Was VERY :money: though. Explained to salesperson if I went home and ordered online I could get cashback through quidco and was there anything she could do? She figured out the amount I would have got back and took it off the total. Feel very happy that we got money off and also that, I'm guessing, she'll get commission on the sale as she was really helpful and not at all pushy.

Funnily enough, the reason I blanched at paying out money today was for the phenomenal cost of car parking at £2.20 for an hour.

ShirePiskie

Happy sunny Sunday DFWs!!

For a few of us it's either a couple of days after or the day before pay day which means a reduction in our debt and also the most exciting few days of the month - necessary spreadsheet manipulation (rather than middle of the month tinkering). Yay!

My list of many chores today (first one will be getting out of bed, what a lazy bones, but in my defence I was at work yesterday at 630am) is to get set up on You Need A Budget and put my trusty spreadsheet into well deserved retirement.

ShirePiskie

Well, something very weird has happened. I've been looking at my options for my 'spare' money now I'm not paying off debt (I've decided to pay off the Barclaycard at £200 a month as it's interest free, to clear in August, so I can earn interest on the money).

I am feeling REALLY anxious about setting up a savings account. Knotty stomach every time I start looking at different options. It is so the opposite how how I've lived my entire financially independent/ adult life, the thought of putting it 'away' actually scares me.

One of the personal finance blogs I read talks about treating savings as a bill like any other. It is something that HAS to be paid along with everything else, which is how I'm going to have to consider it.

I'm sure it's just a habit I need to get in to, but my gut instinct is to keep everything in my current account 'just in case'.. which of course I know is fatal and would just disappear into the spendy ether.

Also I think part of it is I now have responsibility for my money, whereas before I didn't I had to pay off debts, so had very little control over my money as there wasn't anything extra to work with.

hohum

ShirePiskie wrote: »

Well, something very weird has happened. I've been looking at my options for my 'spare' money now I'm not paying off debt (I've decided to pay off the Barclaycard at £200 a month as it's interest free, to clear in August, so I can earn interest on the money).

I am feeling REALLY anxious about setting up a savings account. Knotty stomach every time I start looking at different options. It is so the opposite how how I've lived my entire financially independent/ adult life, the thought of putting it 'away' actually scares me.

One of the personal finance blogs I read talks about treating savings as a bill like any other. It is something that HAS to be paid along with everything else, which is how I'm going to have to consider it.

I'm sure it's just a habit I need to get in to, but my gut instinct is to keep everything in my current account 'just in case'.. which of course I know is fatal and would just disappear into the spendy ether.

Also I think part of it is I now have responsibility for my money, whereas before I didn't I had to pay off debts, so had very little control over my money as there wasn't anything extra to work with.

I had the feeling last month when we actually had money to put in our budget categories that I was blinded by all the choices. Having previously spent and then funded the bills, I was suddenly faced with all decisions about what future bill to fund first! It is a shift, bet when you were working to shift debt you didn't expect to have a dilemma what to do with money.

What I think I'd do is work out what you want the money to do. Emergency fund/ deposit/ big purchase whatever. Make a rough estimate of how that splits the cash. I'd put the money for things you can plan for in a less immediate access account, either a 30 day one or one that I have that doesn't pay interest if you make a withdrawal (motivating). I'd have the emergency money in an easy access account, BUT not one that is linked with your existing current account so you don't see it every time you log in. Yes you don't get the benefits of interest on the full deposit this way but a) it's tiddly whichever way and b) if you don't trust yourself initally, make it safe for you to practice having money without spending it!

Finally, if you are using YNAB you may eventually find you can leave money in your main account quite happily if you've designated a savings category for it - I hate taking away from what I've set aside so I've currently got hundreds in my account that's earmarked for future essential spending. I've never been able to do that before.

t2rry

ShirePiskie wrote: »

I'm sure it's just a habit I need to get in to, but my gut instinct is to keep everything in my current account 'just in case'.. which of course I know is fatal and would just disappear into the spendy ether.

Also I think part of it is I now have responsibility for my money, whereas before I didn't I had to pay off debts, so had very little control over my money as there wasn't anything extra to work with.

It exactly is habit, shirepiskie, and once you're in the habit it is fab! I got into it when we were saving for a house last year, money that went to savings I just forgot about as I considered it unavailable.

Thankfully I've been able to transfer that habit to my now numerous savings accounts. For months I thought it all being in one account would be best because it would show more and I would enjoy seeing it grow. In reality when it's in the account you use for normal spending, it just becomes available for normal spending and, shock horror, you spend it!

Whereas now, it doesn't factor in unless it is for something specific that it's particular savings account was designed for!

So for instance, the last 2 weeks I wholeheartedly thought we had £5 to manage the rest of the month when I had over £800 sitting in the bank! So we made the £5 stretch and last as nothing more was necessary! Fab.u.lous!

So glad you decided to keep diary-ing!x

ShirePiskie

Nnnngggrrraaaggghhhh. :mad:

Have just queried with Tesco why I'm not being allocated any clubcard points for spending on my Tesco credit card... bearing in mind I kept this credit card for just that purpose and has been back in 'use' since April and I've probably spent (and paid straight off, part from the London trip) over £3k on it (including the new bed).

Apparently I have a 'Bonus Credit Card' which pays me back a percentage of the interest charged over the previous year and isn't one that awards points.

So cross. I know I shouldn't have assumed, but still.

Am going to cancel the current card and look at the best points/ cashback options for everyday spending (and paying right off).

Off to be a bit more cross. :mad:

ShirePiskie

Still no news from the ex, so chasing him is on my list of money related jobs to do tomorrow morning:

• Ex hounding
• Switch bank accounts
• Find out if I can swap my Tesco CC for a points paying one. If not, cancel.
• Watch some YNAB tutorials.
• Finish 'populating' YNAB.
• Close my old ING now Barclays saving account and pocket the £3.something in that account.
• Do all my paperwork filing.

Then it's a quiet (football I would think) night in and then FIRST WEDDING ANNIVERSARY when I'm being whisked away but that's all I know, it's all a surprise!

Which reminds me, must pop a bottle of bubbly in the fridge to chill to take away with us (remaining champers from wedding presents). So I have the choice, Tattinger or Bollinger? A decision I'm unlikely to every have to make again!!! :rotfl:

t2rry

I would Definitely (deserves a capital D!) go for the Bollinger ... what a wonderful decision to have to make either way!

HAPPY ANNIVERSARY!!

:beer:

nellis10

Yoohoo!!!

How's it all going?
Are you loving YNAB yet?

I've been away from MSE for a while, BUT making progress!

Hope you and Terry are both well!

giblet1979

Happy anniversary (I know I'm a bit late to the 'party' sorry).
Hope you had a great time, and that things get sorted with the ex when you get back.
Brilliant, encouraging updates x