Feel so alone

Popstess

rolls99 wrote: »

Sounds like you're well sorted with accounts! With a "personal" account, what a lot of people do is, with their main account, use it simply for Wages and bills (DDs, SOs etc), leave a small buffer over this, and move any cash to a "Spending" account which means you don't need to monitor the main account assuming you don't then spend on it. Then any money in the "Spending account" is there for groceries, etc so you can see at a glance what you've got. Really just an extension of what you're already doing but not only segregating expenses like the car, birthdays etc, but also you daily/weekly spend. Then, from the "Spending" account, a linked saver, you could shift anything left at the end of the month to that so it's a little "extra", it is basically what works best for you however, but, in particular with lots of debits going from your main account a lot of people like this method so it removes the need to think "I need to leave £XX for YY" before spending anything.

Hi rolls!
I love this idea!!! Well I got a text this morning to say my Tesco current account application has been accepted and will be sorted shortly so my plan for this will be my "spending money" account and I'm going to just this what you've described.
It has a debit card so I can just use it like a normal account. It hasn't got a overdraft though so I will have to be very careful I don't go over my limit I don't want any nasty charges!!!

rolls99

Popstess wrote: »

Hi rolls!
I love this idea!!! Well I got a text this morning to say my Tesco current account application has been accepted and will be sorted shortly so my plan for this will be my "spending money" account and I'm going to just this what you've described.
It has a debit card so I can just use it like a normal account. It hasn't got a overdraft though so I will have to be very careful I don't go over my limit I don't want any nasty charges!!!

Great stuff!


You've now got the "Mothership" main account, and once the Tesco is up and running all your "Satellite" accounts (lol), so other than making sure there's enough money in the Mothership account to pay all the bills and debits each month, you just need to divvy up and send the money to the satellites and it's "Blast off" (sorry couldn't resist)

Popstess

2rea22 wrote: »

Hi Pops

My girls have just got a housewarming gift for 2 of their friends - a couple of brothers setting out on their own. They don't have a lot of money so they've been to poundland and spent a 10er on "stuff". However, they've stuck a label on each "gift". So on the washing up gloves they've put "so your hands can stay lovely and soft while doing the dishes" Earplugs "for when your brother has a lady friend round", torch "for when you forget to pay the leccy bill" Carpet cleaner "for when things get messy!" etc etc! Cheap, cheerful and very funny! And I'm gonna use this idea for a few of my christmas gifts- and I'm proud of em for their money saving!

Oh wow I love that idea!!! That's so sweet and creative of them! I think I'll try and pinch this idea for some peoples Christmas presents this year

Popstess

joedenise wrote: »

2rea22 - That's a great idea for cheap pressies.

Pops - Only found your thead a couple of days ago and have read it all. I've subscribed - you're so inspiring.

Denise

Hi joedenise :hello::hello:

Aw thank you so much I can't believe anyone would find me inspiring after the right old mess I've made about things!

Popstess

rolls99 wrote: »

Great stuff!


You've now got the "Mothership" main account, and once the Tesco is up and running all your "Satellite" accounts (lol), so other than making sure there's enough money in the Mothership account to pay all the bills and debits each month, you just need to divvy up and send the money to the satellites and it's "Blast off" (sorry couldn't resist)

Haha Rolls!!!!! :rotfl:
Loving the space analogy. Let's say blast off to all those horrible debts!

rolls99

Popstess wrote: »

Haha Rolls!!!!! :rotfl:
Loving the space analogy. Let's say blast off to all those horrible debts!

LOL, yes, a "One way ticket to the moon" for the debt, and a nice few "Orbiting accounts" for the "Mothership"

Popstess

Right I have worked out with all my DD's and standing orders and a slight buffer going out of my current account I can put £470.00 a month into my "spending" account
Food shopping,
petrol,
my sons school snack money, socialising money
Plus anything extra
Needs to come out of this account I feel a bit panicky about this as its the first time in years I will be actually budgeting and keeping my eye on what I spend rather than just not looking and thinks it's ok it'll come out of my overdraft or go on my credit card.

sourcrates

Popstess wrote: »

I feel a bit panicky about this as its the first time in years I will be actually budgeting and keeping my eye on what I spend rather than just not looking and thinks it's ok it'll come out of my overdraft or go on my credit card.

This has got to be the way forward for you, its the only real world way to stay within your budget, no going back now !!!!

rolls99

Popstess wrote: »

Right I have worked out with all my DD's and standing orders and a slight buffer going out of my current account I can put £470.00 a month into my "spending" account
Food shopping,
petrol,
my sons school snack money, socialising money
Plus anything extra
Needs to come out of this account I feel a bit panicky about this as its the first time in years I will be actually budgeting and keeping my eye on what I spend rather than just not looking and thinks it's ok it'll come out of my overdraft or go on my credit card.

To use another analogy, remember that in, say, a motor race, it's easy to go zooming in to the first corner, but, that runs the risk of being off line, running wide and so on, and almost always the driver who's been a little more conservative will be able to get on the gas and pull away on the straight because they weren't "fighting the corner!"


Sure and steady versus full steam ahead sometimes


You've now identified your available "Spends" and so it's easy now to divide this by weeks or days until next payday, giving you a total "available" however you want to calculate it.


If you're still waiting on your Tesco account stuff, one suggestion I would make is this: to begin with, "Work in halfs" - which is to say, you have identified £470 and that is what you have to work with. Since it's a few seconds on online banking to get the transfer done manually anyway, once you have the Tesco up and running (Do a "Test" transfer of a quid or two just to make sure you have the details correct!) - transfer HALF of the £470. That means you can then start on "Half months" initially, so you can still see how you're going - but with the benefit that until you've streamlined things you a) have half the £470 still to come across, and b) it's allowing a little manoeuvre for the first month or two in the main account in that you'll be sure the figures are working out.

12_month_challenge

well done on your organsiation. Its so good to see you this organised and positive.
keep it up and It will become a way of life and your debt free day will come knocking on your door.:beer:

I am going to look at organising myself a £1 a day pot. Good advice from elfy.