Starting Over

DawnW

Well, even if you feel that you aren't dealing with it in a logical manner, you HAVE made a start, and that is the main thing xx

EssexHebridean

Nationwide is brilliant for enabling you to have lots of savings accounts off your main current account - if you open the FlexDirect account it also has the advantage of paying you interest on a credit balance. As you set up your "piggybank" accounts you can also set up automated transfers so you know the money will go across to them each month without you having to remember, if that proves easier. The mobile banking app is also very good and lets you do the majority of things you might need to, once it's all set up.

Reading back over your diary, I think you need to think about closing things like your Next account - at the moment, if the sale proves too tempting, remove the temptation by closing down the access to it - I'd put money on you really not needing any new stuff, anyway?

thegirlinthegreenscarf

Hi

You're right, I need very little. But I do tend to buy clothes for my daughter (in the size up from what she's wearing) in the sales. I will give it some thought though.

Hiddenidenity

thegirlinthegreenscarf wrote: »

Hi

You're right, I need very little. But I do tend to buy clothes for my daughter (in the size up from what she's wearing) in the sales. I will give it some thought though.

That you can do without a credit account though

Good luck will follow

enthusiasticsaver

Debts on storecards and catalogues are very expensive so I would close those down. A spending app tracker may be good for you to keep tabs on what you are spending.

You sound like you are an impulse spender and the best way to deal with that is to remove credit card details from sites like amazon and ebay and cut up all credit cards bar one (the oldest one preferably) and a debit card. Ideally what you want to do eventually is to repay all the debt use the credit card occasionally and pay it off in full each month. That is a good way to keep your credit rating high but ensures you don't get out of control with them. Set a monthly limit for clothes for your daughter.

Honeysucklelou2

Sorry, just seen your previous question...the tracker I use is simply called Spending Tracker and is by MH Riley. I think they do a snowball one and a Mortgage one too but I haven't explored those.

armchairexpert

Hi greenscarf!

I cannot recommend doing and posting your SOA enough, it's going to give you a much clearer idea of what those impulse spends are really costing you. It'll also tell you what your actual budget for discretionary spends is, which will help enormously. It does involve a bit of digging around for receipts and statements, but it feels great once you've done it.

I can hear that you're reluctant to be without the ability to make those purchases, and that's okay, it's a journey, but really sit down and think that through. What are you actually worried about? What would be the consequence of you not having easy access to store credit, or credit cards? Follow the thought all the way to the end - what if you couldn't buy your daughter's next-size-up clothes in the Next sale and missed out? What would that feel like? It's a really worthwhile exercise, because so often our spending habits are about something entirely different from the stuff we're purchasing.

My thing, for example, is that I buy things that represent leisure time (fancy yarn, long books) to try and replicate the feeling of actually having leisure time. When I have more free time in the evenings I spend less! Yours is almost certainly something different, but have a dig around in your psyche and see what ends up being down there.

thegirlinthegreenscarf

Ok, very slow progress, posted 1st ebay item to sell (£8 + postage) with another 2 items with bids ending tomorrow evening. Whats the best thing to do with the money I earn? Transfer it to a separate a/c or straight to my credit card? (I will also need to look at paypal to see what they will allow me to do)


I have also looked at what I spent on the christmas catalogue last year - and it was way too much! Will start budgeting so that I have the money when the time comes, but will also scale back.....


Next step, look at the 0% on the barclays credit card and set up "piggy back" accounts.

thegirlinthegreenscarf

Ha ha I am not sure rooting around in my psyche is a good idea. Who knows what will come out! lol
You are, of course, right. If I didn't buy her clothes in the next size up, we might throw away less when she grows out of it all. I am always giving away things that have either never been worn or hardly worn (TBH the items I give away are normally ocassion wear/dresses and my daugher is not a girly girl lol) I have actually started selling some of them now too rather than giving everything away.

I just want everything to be perfect. I am probably an emotional buyer. I have already deacticated my cards from amazon etc and i have noticed a difference already. My normal monthly credit card bill would be £120/150, but this month it is £77. All from Amazon.
I am going to go through my Amazon account to see what exactly I spent.
*Edited safe to say there were things I "needed" but also some things that I could have lived without*

I am getting there, but I do need your support, and I really do appreciate it.

thegirlinthegreenscarf

I am liking the idea of budgeting for ther clothes. Might help for things like school shoes, uniform, winter boots/coat too.