The Alternative Millionaire

gothrockchic1

Thanks Gallygirl.

The meeting went well. I am being put forward for voluntary work and we discussed qualifications (as my mentor is a tutor) so it was productive.

I also received my CIPD Certificate :j at long last (I've been waiting since August).

Tomorrow is my meeting with mentor 2, I can't wait now.

gothrockchic1

Hi everyone, my meeting with Mentor 2 went well. I found it exhausting she went into detail about a lot of things I hadn't even considered. So I have a lot of options to weigh up but one thing for sure is that I need to save a lot more.

So I am revisiting my old CV and making a new version that is more HR related. I need to gain more experience (with no experience at all) so my options are volunteering at the weekends, joining agencies and doing temporary contracts (with more financial risks or not getting regular work).

I am waiting on getting put into contact with people by mentor 1.

gothrockchic1

Hi everyone, sorry it's been so long since I updated this thread.

I have been a Bad Goth and have been spending a lot on my credit card. I can not describe it, it's like having a break in not spending. I am now paying for it. So I am reining it in.

The positive side is I have £50 left over last month so that will help me pay the credit card.

The trip to Paris has been booked for April. I have also joined the gym.

So I need to up my game!

Wizzbang

Perhaps we can help? What have you been spending on? Can you identify what 'caused' the splurging? If anything still has the tags on, would it be returnable- to help with the damage reduction? xx

gothrockchic1

Wizzbang wrote: »

Perhaps we can help? What have you been spending on? Can you identify what 'caused' the splurging? If anything still has the tags on, would it be returnable- to help with the damage reduction? xx

Hi Wizzbang it is stuff that I won't be able to take back. It's something that I needed to get out of my system. I suppose it was the need to live the lifestyle. It's completely out of my system now. But I have come up with a Reward scheme once I have reached certain milestones. So if I want something I need to work for it.

The one thing that came out of was that I brought a suit, for interviews!

gothrockchic1

So to try and stop me from spending, I have come up with a Reward system so I have to earn it. There are many things that I want, most costly so I have to make it worth my while.

Reward

Pandora Bracelet - add £1000 in savings (Level One)
Pandora Ring - add £1000 in savings (Level two)
Kindle - 50 NSD's AND read 10 books in my collection
Designer Handbag - New job
New phone - Clear 100 items out

There are many more that I want but these items I desire more.

What does everyone think? Do you think these are fair?

Wizzbang

I'm also bad for spending at times, mostly on clothes and DVDs- but lucky that I am also such a tightwad that I would never pay full price and get them all from charity shops or other 2nd hand stores, like eBay or CEX! May I suggest you try adopting the same? That way, it is unlikely you will need to involve and credit card and if you choose to sell the items on (if you regret it later etc), you will pretty well get back what you spent because someone else has taken the original depreciation hit.

Overall, I think your reward system is a good idea to give you incentives. However the major flaw as I see it, is that it's all tied to items. Try to think of ways to reward yourself that aren't going to be out of fashion in 6 months time. You'll only be lusting after the next design! I don't know what would float your boat, but try to think in terms of experiences rather than items, and preferably ones that are free.

There are lots of ways to get the things that you're lusting after without spending a fortune. i.e. second hand, save up vouchers from surveys and points sites rather than spending your cash which can go towards your deposit. I have earn enough Amazon vouchers in 2-3 months to pay for the kindle that my husband wants. TV companies give away tickets to the filming of their shows. You can also enter competitions to win big prizes. Martin gives many more ideas on these forums.

At the end of the day, you have to keep your end goal in sight. If you fritter money away on these wants now, you'll a) never break the cycle of spending and you'll just want the next new thing and b) you'll never reach your target of the deposit or it will take many years longer. You really need to set a tight budget and designate where every penny is going. Get that cash into your savings account before you're tempted to fritter it away.

I'll come back to Dave Ramsay's advice "Live like no-one else now, so you can live like no-one else later". Sound message- one day you'll have the cash to treat yourself and others as much as you want. Although I very much doubt by that point, that these things will be a priority for you.

cazmanian_minx

Are you on Pinterest? When you've got a craving for something, you can sometimes calm it down by making a dedicated Pinterest board for it - that gets you over the initial 'MUST HAVE IT NOW!!!!' feeling and then when you go back to it subsequently, you quite often find you don't really want it at all.

gothrockchic1

Hi everyone. So a few important things that happened.

OH and I have been talking more about our future and I think I may have him on board. We both want to get married next year and have a deposit saved on a house the year after that.

We have talked about Fiscal fasts, we have both admitted since we moved into our flat we have both gotten lazy so we have re-affirmed our goals together.

I am still working on my goals, a new job would be fantastic and I am still applying and amending my CV.. My current job is no longer challenging and I think that has been the reason behind the spending. Also a lack of planning has been a reason too.

But this is talk and we will see if he starts to do stuff...

Watch this space!

gothrockchic1

Hello everyone!

Wow a month goes quick, a lot has happened too.

Last weekend we were in Paris and we got engaged! So I am now planning a wedding :eek:. How we are going to pay for it I have no idea. The good news is we have saved a large amount towards the house fund already and we could use that.

My personal savings is looking healthy and I am now to the point where I am considering investing in stocks and shares but I need to read up more about this.