Impulse Buying

Pixie5740

Sharon87 wrote: »

So a month later, YNAB didn't really work for me, I can never seem to stick to clocking every spend, my life just gets too busy!

Even if YNAB did not work out for you, are you recording all your spending somewhere? If not then how will you get a handle on where your money is going?

greensalad

Like others have said, don't complain that YNAB doesn't work for you, work for IT! Make it work. Yes that means training yourself to whip out your phone and register your purchase as you leave the shop. Or store all your receipts up and go through them when you get back home from a shopping trip.

It's not rocket science and it's really not difficult.

Sharon87

I tend to track my purchases by looking back over my bank statement and seeing how much I've spent on each category and then making a budget for the future. So I may look at my bank every week or two and log how much I'm spending in each category and see how much I have left. I don't think logging every spend every day is sustainable, I don't want money to rule my life like that, it just seems a bit obsessive.

I have reduced my impulse spend this month as well as a lot of general spends, so I am gaining self control. I have a plan for reducing take aways - by having easily cookable food in the freezer! I always try to eat healthily and cook from scratch, but then when I've had a long day and don't want to cook a takeaway is the only option, but now I have easy food to heat up. My aim is to not have a takeaway for the next month at least.

Sharon87

Update: (I had typed a long post, then my browser went back grr!)

I have cut way back on impulse spending. I haven't bought new clothes in a while - only new boots for winter which I spent less than I budgeted for! I've cut back on lunchtime spending, I'm taking my lunch into work at least 4 days a week now, instead of 0 or once a week.

I've even cut back spending on entertainment - bye bye Sky and also TV Licence as I've recently moved and have no access to live TV - no satellite dish, no aerial unless I get a long extension cable. Just Netflix, which I can't live without it seems - it's also a bargain for how much I use it.

I have also sorted out my finances and paperwork. I've got a plan for paying off my credit cards and to make use of 0% offers/low interest on life of balance deals. It means my debt will be confined to 3 credit cards and I will be overpaying on 1 of them as well as building up emergency savings.

I have been tested with my impulse buying - I went to IKEA for essential furniture for my new place - I came back with everything I planned to buy and the only unplanned thing I bought were 2 wine glasses as I forgot I needed some seeing as my previous housemates broke all of mine!

Now for Christmas time... let's not be tempted at all the chocolate in the shops, otherwise my gym membership will be pointless!

Teacher2

Sharon87 wrote: »

Thanks for the advice Teacher2

I did start a while back either unsubscribing from shops email lists or at least diverting all future emails from them into another folder in my inbox, so I wouldn't be tempted, but I'm getting a few again, so maybe should do this for the other companies.

I remember a time I saw an email with a 'Schuh' sale. So I went on it had a look, decided not to buy this pair of converse I liked. Went onto other websites and with their 'target' advertising and using cookies, the advert was those pair of shoes I wanted! I kept seeing the same advert for those shoes for months, steadily going down in price. But I did resist that! Mostly because I didn't want to give in to the new way of advertising!

Well done on the resistance! The advertisers are very persistent. I have just done a week's unsubscribing and some companies will not go away! I keep seeing things I have looked at in the past pop up on my Facebook site. Rascals!

Sharon87

As Black Friday approaches I am having no part in it! Have reduced wages this month has made me think more about where my money is going.

I did have a peak at the sales but decided I wouldn't participate in the American marketing 'scam' - which is how I see it! I don't NEED anything right now - except a new lightbulb in my room as 5 out of 5 lightbulbs have gone and I'm in darkness... so unless there's a Black Friday sale on lightbulbs I won't be buying anything in the sales!

Catslovelycats

I also suggest a spending diary. It might shock you into seeing how much you spend and/or what on. That might enough of a lightbulb moment for you to help you control your spending.

Sharon87

I've done spending diaries in the past, never did shock me that much even though I was spending lots of money!

I'm also really bad at keeping any sort of diary, I start off well for a week then I miss a few days, then I miss most days, then I stop! I have tried keeping diaries for spending, food intake (need to lose a bit of weight too) and I never keep it up, even with handy apps on my phone.

The only thing that stops me spending is not having access to money! Like now. I don't have that much money right now, I've reduced my overdraft limit after using a 0% card to pay off the few hundred that was on there, so it's not tempting to use now. I have limited my Christmas present spend this year to £10 per person (£5 for some) - all of which is budgeted.

I can't keep a daily diary, but I do look back over my transactions on my bank account to keep an eye on how I'm spending my money. Sometimes I put it into a spreadsheet with categories to see how much my food purchases come to for instance. This is why I like debit card transactions rather than cash, I can see where the money is going.

Towser

I love shopping but due to budgetary limits have had to restrict it to Aldi and Charity shops only. Damage limitation.

Sharon87

So I did actually buy stuff in the online black friday sales - but they were birthday and Christmas presents - so would have spent the money anyway, it just means I got more value out of it.

Used the 40% off bodyshop for birthday present (and quidco cashback)
50% off personalised calenders for a friend/family member (£5 instead of £10) from Funky Pigeon.

I was pleased to resist buying stuff for myself, even if Office did have a discount voucher of 20% off everything online... I resisted shoes go me!