Help! Hose me down, my spending's on fire!!

andyfromotley

So 5 months in to my DFW i just seem to have taken my eye off the ball a bit this month!!

Just had a feeling a was getting a bit fast and loose with day to day spending. When i finally got around to reconciling YNAB after a couple of weeks my suspicions were confirmed. Have probably let a couple of hundred quid slip away through random spending and not keeping accounts up to date!!

Consequently have had to move money out of some of my Rainy day funds and have a tiny amount to get through to the end of the month. I'm fed up as this was just what i was like before i started sorting this out. Its not even as if there was anything that cropped up out of the ordinary. It feels like a big step backwards. Grrrrrrr.

The only bright side is nothing on credit cards and OD won't be used.

rockm87

Morning!

oh deary me, well glad you didnt use credit, but definitely worth tracking as you go rather than spending then checking!

Is it worth using the 'envelope' system. so you have it all in cash, do then you can visibly see what you have left so you dont go over?

asparagus1968

I still do this from time to time, this month I've gone berserk, and I've holiday spending money to find (because I've spent what I'd saved on a new laptop)
I'm doing just what ROCKM87 suggested-back to using cash this month as I can't be trusted!


you are still few steps furthur on than you would have been before you had your LBM

andyfromotley

Hi rock,

i use YNAB which is an electronic envelope system really. I rarely carry cash as i have found previously that i tend to be a bit more spend with cash and found it harder to track where it had gone. I haven't tried cash since my LBM so i may give it a go.

lazer-zxr

It seems like a small setback Andy, but aren't you glad YNAB provided the means of escape and the opportunity to control your finances without going for credit.

To be honest, with my LBM and YNAB journey around the same time as yours, I've slipped this month, only around £50, but it's strange that this fourth month is coinciding with budget slippage.

It's as if the novelty of budgeting and getting on track has worn off, and it's not as exciting anymore .... I guess it's time to get our heads down, and continue on the path to recovery we've set ourselves. It seems to be the most challenging period as a DFW so far, even more so than the initial change to lifestyle.

I find the updating of my MSE signature is a great tool to keep my head in the game, and the target in my sights.

Good luck, get back on it, and up your YNAB reconciliation frequency.

chasingfreedom

Don't beat yourself up, you are doing great so far and you're only human!! Maybe you needed to let off a bit of steam this month to give you incentive to keep going. There's nothing that can't be salvaged xx

denialanderror

It's not the end of the world! If on average things are getting better over time, you've nothing to worry about!

enjoyyourshoes

Having a crystal clear goal of why you are doing this 'not spending' purgatory may help?
Do daily bank reconciliation diligently (include all SO/DD's and CC spending) also make sure you get receipt for everything you spend and if spending on internet make note down of what you have spent.
I stick all my receipts and notes on spike so to remind me to reconcile them ! Visual reminder
Just think positive about no CC usage and no OD.
Just think of the accrued interest you have earned and money saved from no OD and no CC fees1

andyfromotley

enjoyyourshoes wrote: »

I stick all my receipts and notes on spike so to remind me to reconcile them ! Visual reminder

Ha, i have been on the lookout for one of these locally for a few weeks now as my wallet is full of receipts most of the time!! I get receipts for everything!!

rockm87

a good visual would be to get a large print photo of your 'dream' or saving goal, say a big mortgage free house, and then for every receipt stick it over the top!

for everything you buy, you move once step away from your dream.

....oooo is that deep for a Friday?? :-)

Bobarella

andyfromotley wrote: »

Ha, i have been on the lookout for one of these locally for a few weeks now as my wallet is full of receipts most of the time!! I get receipts for everything!!

You can order bill spikes from Nisbets catalogue for a couple of £s.