Budgeting Help - Ending Living Paycheck to Paycheck

luckofthe_irish

Domayne wrote: »

Watch Ytube tutorials! Seriously, I'm addicted to them!
I just search 'how to budget' 'how I plan my budget' etc and there are a lot of different ways (Zero based budget, Envelope system etc) and you can try a few see what works for you.

I didnt even know there was such thing as Ytube tutorials on finance, this is brilliant! I will be checking them out this evening to see if I can get inspired!

luckofthe_irish

Candy0107 wrote: »

Some tips i have picked up on my journey:

• give up magazines - yes it is a bit hard at first but read everything online
• same with newspapers
• i love coffee but when i am in a coffee shop i just stick to an americano - usually the cheapest thing on the menu and a bit healthier than a frappamochachino with syrup and whipped cream
• i use posh coffee in my coffee pot in the morning - i wait til tesco have it on offer.....i prefer st*rbucks coffee and tesco sometimes have it at £2.50 per bag so i bulk buy....the coffee works out at about 30p if you take into account you get a free tall latte when you have finished the bag
• i use cash wherever humanly possible.....i used to think that if i spent £x on a magazine and a drink it didn't really matter as i have only handed over my card. if you go shopping with £10 and no card you cannot go over that
• i have dropped down a brand in personal care
• if i was at home on my own, i would have value beauty days - shower gel, shampoo and deodorant used to be 'value'
• try and find something else to do instead of internet shopping.....ask yourself do you actually need it ?

I hope this helps
Candy xx

Thank you so much Candy, these are great tips! I only drink black coffee, totally agree with your views on coffee shop spending! And I have cut out all magazines and newspapers! I will try and just use cash as I feel like that too - card doesn't seem like real money and then I am too scared to look at my bank account every week because I have no idea what I have spent. I will also look at dropping down a brand in beauty care - especially with deodorant and moisturiser and things.

luckofthe_irish

Fmess wrote: »

luckoftheirish you can get multiple current accounts with FD. I have three and it makes it so easy to move and allocate money. You just apply online by clicking a button when you are logged in and within 24 hours it's open and available to use.

I had no idea you could do this but I have just applied for one now! Thank you! Do you know if you can get another debit card for an additional current account? I would like to use the new one as a spending account to avoid moving all my DDs and bills over but I am not sure if I can have two debit cards?

luckofthe_irish

mummyroysof3 wrote: »

Not sure I can offer much advice but I found one way to stop my shopping online for the sake of it sessions was to use this forum more. I also investigated my libraries online service for ebook and magazines. Get a decent travel cup/mug and take drinks from home, we do this whenever we go out and drinks and snacks for the kids too. Defiantly budget less for food but put something away for the yearly bills, I do this for home and car insurance but didn't do the bt yearly line rental this time. If you can then put the 2 months where no council tax is paid in savings and same if applies to water as you are used to paying it so don't miss it.

Will be taking up your tips for online distractions - I need to keep away from nike.com and amazon! Great idea to put some away for yearly bills - I never even thought of this before and it is always a struggle when it comes to paying out big money. My water bill is due any day and I know it will be around £350 and I have no money to pay for it. Will plan better for that next year.

luckofthe_irish

swampduck wrote: »

The OP mentioned that they had a full store cupboard and freezer. May I suggest that you go to your freezer and write down a list of literally everything that you have. Do the same with your store cupboards. Then menu plan with what you have without going shopping.
I've had odd months when the money just wont stretch far enough and by doing this have been amazed by just how much is in the cupboard/freezer.
For example in your freezer you may have 4 chicken fillets, 2 packs mince, 2 Fillets of fish - that is potentially 8 meals basic ingredients. So no shopping really needed for a weeks' worth of evening meals which equates to knocking x amount off your overdraft making it easier to get where you think you should be.
It's just a little thing but it's the difference between going into your overdraft or not or at the very least reducing it.

Swampy

This is fab - I have just done this and I have SO much food in the freezer! Wrote everything down and it covered a whole A4 sheet - chicken, mince, burgers, meatballs, fish, prawns, bacon... So I will just be buying fresh veg and fruit plus milk and eggs for the near future. Eating my way through the freezer will be helpful for the upcoming month as well. I am going to try and spend under £20 every week on food until I get through the mountain that is my freezer!

luckofthe_irish

So rent came out today (:() and I am trying my best to sort out my budget and bank accounts. I have now opened another current account with First Direct to be my spending account, but does anyone know if it is possible to have a debit card for this current account as well as my original one? Or can you only have one debit card from one banking institution? Trying to avoid moving all my SO and DD's into the new account if I can help it!

Thank you!

greensalad

luckofthe_irish wrote: »

So rent came out today (:() and I am trying my best to sort out my budget and bank accounts. I have now opened another current account with First Direct to be my spending account, but does anyone know if it is possible to have a debit card for this current account as well as my original one? Or can you only have one debit card from one banking institution? Trying to avoid moving all my SO and DD's into the new account if I can help it!

Thank you!

Of course you can. Why wouldn't you? I have three current accounts all with cards.

luckofthe_irish

greensalad wrote: »

Of course you can. Why wouldn't you? I have three current accounts all with cards.

Thank you green salad! I wasn't sure if FD would allow me to have two debit cards with them or not, but the account is open now so I guess I will just ring and ask for another debit card! Appreciate the help.

greensalad

luckofthe_irish wrote: »

Thank you green salad! I wasn't sure if FD would allow me to have two debit cards with them or not, but the account is open now so I guess I will just ring and ask for another debit card! Appreciate the help.

Hang on do you mean a second debit card for the same account? I don't think that would be allowed. But a debit card for a second account is fine.

luckofthe_irish

greensalad wrote: »

Hang on do you mean a second debit card for the same account? I don't think that would be allowed. But a debit card for a second account is fine.

No, I opened a second current account but both current accounts are with First Direct... so I wasn't sure if I could have two First Direct debit cards or not?