I am rubbish at money

enthusiasticsaver

I would suggest you start a spending diary too or get a spending tracker app on your phone. That way you can pinpoint what you are spending and what on. It is a real eye opener. For future reference consolidating debt is the very worst thing you can do. If you only have the loan and the credit card that is not too bad. Stop using the credit card and then you will be forced to live within your income.

happppydays

Thank you all. I have started a diary on here and also started a budget on YNAB as a few people seem to recommend it. I am scared though as I thought we could just about cover everything but it seems we can't.
I will do a statement of affairs this evening, but looking at it today I cant seem to make it fit with paying a bulk of my money into a joint account and then paying my debt off with my own account.

System

You will end up having to tell your other half at some point because if you have anything in joint names such as a mortgage or bank account then both your credit files are linked and what negatives you have on yours affect him too and he could find out there is something wrong when he applies for credit or a new mobile contract and is declined.

If he earns enough to cover the payments, or at least make things easier, you are making yourself needlessly stressed and that is going to eventually have an impact on the relationship too. Sure there may be a bit of initial stomping of feet and gnashing of teeth but that'll end quickly. You are a team but the other half can't help if they don't know.

System

enthusiasticsaver wrote: »

I would suggest you start a spending diary too or get a spending tracker app on your phone. That way you can pinpoint what you are spending and what on. It is a real eye opener.

£3 on a coffee once a day, something the vast majority of people will never bat an eyelid about, is over £1000 a year.

What is interesting is that keeping track of every single transaction is going to make you think about them, in some cases like the quick Costa, probably for the first time in a long time. Merely the act of recording transactions could result in a large reduction in frivolous spending.

zippygeorgeandben

I might subscribe to this thread as unlike many first time posters, happppydays realises the error of their ways, cannot consolidate and whats to sort it out! You can do it!

happppydays

Thank you all. Well I've found £45 at home just in drawers and cupboards ( and husbands work trousers so that will last us a week. )
I have family coming to stay so rather than spending on activities I've decided to do free things, like go crabbing at the harbour. The only cost is petrol and bacon!
My husband knows I have issues with money and just gets frustrated with me as he's told me for ages I have to curb my spending. To me, it feels like an addiction. Reading other people's posts though i know I'm not in this alone and people on here are an inspiration.

happppydays

I didn't spend anything yesterday and I won't be today either. So pleased!
SOA.
Per month
I take home 1666.66pm and have £250 overdraft

900 straight into joint account
25 virgin 0% credit card
50 lloyds 0% credit card
271 to Sainsbury's loan
22 pet insurance
36 mobile phone- going to sim only in December
15 5 year olds dance lessons
Leave about 200 for everyday living.
Background
Husband pays for food once a week
And puts 1100 into joint acct
Things will be difficult this year as youngest childcare= 400ish per month until we get 30 free hours a year in January.

happppydays

I suppose we should be ok. But we are not:(

Lucylocks

Would be helpful to post your SOA if you're happy to share. Usually people on here can suggest saving tips for specific categories. £200 is quite a lot for everyday expenses each month if you're excluding food and household spends

Debtslayer

Are you able to fill out a full SOA using link above?
These are much easier to read as it lists all outgoings and what you've got left over.
In 2nd income put the figure husband puts in joint account, then list all outgoings.
Does husband do weekly food shop out of this money or as well as?