Lightbulb moment urgently required

KxMx

It's all too easy to bung everything on the CC and only have a vague idea of how much is going out!

I recently reined in my own finances.

First I did a budget based on my income and fixed expenses (such as rent, pet insurance & fixed amount of case each month).

I then looked at the figure left and decided how much of that I could spend on CC and how much I needed to save.

Set up a SO to my savings account direct from my current account with a weekly payment -which I recently increased by £2 per week because I was not missing the previous amount; and opened a second current account with a new provider to act as emergency electronic funds (save using the CC) and hybrid savings pot. I also moved my savings account to get a slightly better rate.

I then took my spend figure and after the first month cut it down another £25. It's my aim to go down a few more times.

Lastly I started a spreadsheet (sure there are apps to do the same thing) and the minute I spend on my CC it goes on there. Before going out I check my current spend level and decide a maximum. When I get home anything spent gets put on there straight away. Seeing it in real time really makes me aware of how much I am spending and the need to not be frivolous with my spend budget.

I am going away for an overnight trip soon (best friends wedding reception; they are horribly limited for numbers at the ceremony and of course family comes first) and instead of putting everything on the CC on top of normal spending; the hotel booking is counting towards my limit not as well as; and i've been saving odd £1 coins for the train fare so I can pay in cash and not add onto the CC.

Debtfree2018_2

Thank you kxmx

Reading all if the moments it makes me stop and think

ReadingTim

Only you can have a lightbulb moment - no-one can have it for you, or force you to have one. And even those who might have had one can be in denial about the reality of their situation.

But in general it's a matter of fear and motivation:

motivation - what goals do you have in life, and how would being debt free help you in achieving them? This could be owning your own house, moving to a bigger, better nicer house, or starting your own business, providing a better material standard of living for your family, or simply the freedom to do what you want and when you want to do it, rather than thinking about how you're going to pay for it.

fear - how would you survive if your car broke down, you lost your job and/or couldn't work, or your landlord decided they wanted you out. What would you do for money to eat, where would you live, how would you provide for your family?

FBaby

You're most likely filling out a void. Buying those things make you feel good. You therefore need to find other ways in life to bring you that similar level of contentment. I personally found setting myself physical challenges brought that level of exhilaration that is similar to getting something new.

Boredom could also be a factor. My first step would be to think of other things you can do instead of the times you find yourself in front of your computer browsing shopping sites.