Help! I've just realised I'm screwed.

Rocketlolasaves

I've been reading this forum for a while never joined our posted. I'm 23. I have an Iva. I live on my own but have a lodger. 2 cats. I work full time have all my life and as my mother said I've been winging it all my life.

I've got this budget book from paper chase which made
Me realise I am out of control. I don't even know how someone gets paid 1600 and spends 1850 a month? I've took steps to try fix this. Stopped buying wine and smoking as I was spending £200 a month on cigarettes. What worries me is I have no savings. I have this Iva which in all fairness I only pay £70 a month on but how am I still screwed.

I wanted to upload a picture of my march budget my first one for reference but I can't. I just feel stuck. I feel like this is a late night rant but I'm consumed by it.

soulsaver

Your mother's right.

Xbigman

Post on the debt free wannabe board. You will get more replies.



Darren

Rocketlolasaves

Even if I'm looking for more budget advice rather than debt? I have my Iva sorted and know what I'm doing with that. It's the rest that's the issue? Thank you though

agrinnall

Yes, the title of this board is misleading, we don't really do much on budgeting here, the DFW board is much better suited for your question.

jimjames

Rocketlolasaves wrote: »

Even if I'm looking for more budget advice rather than debt? I have my Iva sorted and know what I'm doing with that. It's the rest that's the issue? Thank you though

On the plus side though you are still only 23 and have plenty of time to rectify. Some people are in their 60s and haven't realised their problem.

bobobski

You are keeping a spending diary, which is good. What you need to do is set a budget (note: not a target - an actual cap) and stick to it. If the budget says you have £0 left for [dining out], then you don't [dine out].

Budgeting is easy compared to quitting smoking; you've got this.

sitesafe

agrinnall wrote: »

Yes, the title of this board is misleading, we don't really do much on budgeting here, the DFW board is much better suited for your question.

I agree - I think there should be a separate board for budgeting as most of the posts are about bank accounts...

jennyjj

Rocketlolasaves wrote: »

I've been reading this forum for a while never joined our posted. I'm 23. I have an Iva.

Welcome Newbie poster.
I have good news for you. At 23, you are at a good place to start to tackle this. As others have said, it gets harder if you only realise your situation later. More good news. REALLY good news: You have a pretty decent income.

I've got this budget book from paper chase which made
Me realise I am out of control. I don't even know how someone gets paid 1600 and spends 1850 a month? I've took steps to try fix this. Stopped buying wine and smoking as I was spending £200 a month on cigarettes. What worries me is I have no savings. I have this Iva which in all fairness I only pay £70 a month on but how am I still screwed.

Your own spending pattern shows you. We don't see your budget, but sort descending by value and pare down all discretionary spending.
Utilities: Shop around.
Clothes: Wear what you have.
Dining out: Don't, or at least slash back.
Groceries: Economise big time.
Motoring: Do you? Would a bike help?
What you give: Give time instead.
What you recieve as gifts: Ask for cash or useful stuff.
Pets. Eat them. ONLY JOKING. But feed them cheaper.
Lottery tickets: If you buy them, stop being an idiot. etc. etc.

And income...
Maximise overtime.
Claim what you are due. Expenses, benefits, whatever.
Get some part time extra job, working a bar etc.

rant but I'm consumed by it.

Make solving the problem your new hobby.

Hope I helped and sorry for being a condescending b1tch
Seriously. Well done for thinking about it and planning now.:T

Dobbibill

Head over to the DFW board and post a SOA.

The good people there will look at it and you'll be surprised where they will find places you can save/cut back.

All the best.

DREKLY

Lola, give up the smokes for a start,
and that will net you almost £2,500 a year to save...