Trying.........

Lucie_2

You're very welcome Tinker_belle.
Welcome to MSE BTW, it's not just a message board, it's a way of life!

Don't get too hung up about it though - you're in control of your debts & you're not in way over your head. No arrears, bailiffs at the door or anything like that.

I'm nowhere near perfect, I still spend, I still have a credit card balance & we don't miss out on having fun because it might cost too much. Money-saving is not about not having fun, it's more like having fun you can afford!

make_life_easier

if you say have 613 left after paying all bill and debts why don't you set yourself a monthly amount target to spend. eg 500.00. Get a book and put the balance of 500 at the top and write in every penny you spend. when you see it getting less and less you will start to be more carefull in what you spend (well it works for me) i would also include petrol into the 500. If you can stick to that you will have over 100 each month to bung off the credit card.

Magentasue

Tinker_belle wrote:

When you put it like that it sounds terrifying i can't believe that i actually waste £122 a week on rubbish. The outgoings incude food, but i forgot about petrol which is about £40 a week, so that still leaves £80.00. I really do have to get a grip on my spending, because that is ridiclous.

Thanks for your help

This is where Money helped me. I have categories for food/pet food/cleaning stuff/toiletries/clothes/gifts family/gifts friends etc.

Every weekend I go through all my receipts and enter them on my bank accont page. I put in the payee (Asda, Tesco or whatever), and then break down the amount into the different categories. You can then see how much you spend on different things or in different stores over a month, sis months whatever.

It does take a while to set up but then it's just a few minutes every week. If you truly don't know where the money goes, it's hard to see where to make savings.

Oh yes, when you reconcile your statements, you enter the interest charged. It's pretty sobering to see how that adds up.

ceegee

make_life_easier wrote:

Get a book and put the balance of 500 at the top and write in every penny you spend. when you see it getting less and less you will start to be more carefull in what you spend (well it works for me)
.

That is exactly what I do, except I do it weekly, in my little 59p cashbook from Woolies. I write the week's money in every Friday and deduct it as it is spent. If there is even a small amount like 39p left at the end of the week, then I am satisfied.
I know that I could buy a notepad cheaper than 59p, but this cashbook has columns in it!

the_canty

Writing everything you spend down is the key.
You should defeinitely start that.

Have you thought about selling your cars and replacing them with cheaper ones? - that way can pay off most of your car loans and start ploughing more into your other debt. When you're debt free you, you can carry on putting the money that you've got used to setting aside away - get some savings for a new car, house deposit or whatever you want......

However the key is to write down everything you spend. It will take time, but will feel good in the end.

Good luck and keep persevering

Reaper

Tinker_belle wrote:

Credit Card - £2600 - 3.4% till September and then 0% anniversary rate for 6 months (Egg Card)

Just to make sure you don't get caught out...

1) The Egg anniversary 0% period is only 5 months
2) You debt will not switch automatically to 0%. You need to clear the debt temporarily, then balance transfer it back on (you can use your bank account, it doesn't have to be another card)
3) You must do the balance transfer within the anniversary month itself or you won't get the 0%.

A minor point when you have so much else to worry about, but I thought I should mention it.

Iona_Penny

I would second most of the advice given here. From my own experiences I would say open a second account ( with the same bank is fine ) and transfer everyhing left after ALL your regular payments into it. Then withdraw and use CASH from this account; as has been suggested allow an amount per week and dont spend more than this. Cash makes me stop and think - I dont just pop into the supermarket for something to bung in the oven for dinner therefore probably spending 20-30 pounds after temptation to buy other stuff, I try and plan or now I always have something in the freezer. Keep away from the places that will tempt you like the big shops. You will feel GREAT at the end of the week when you are under allowance.

My friend has asked me to go to Paris with her for a weekend in July at a cost of £89. Unbelievably I had the money by the end of one month! - It would not have happened 12 months ago. It feels good to be in control GOOD LUCK

Tinker_belle_2

Thanks everyone you have been great. i will have a look in woolies next week and get one of those books, they sound really handy.

Thanks for the advice about egg, I didn't realise that I had to do that. I have a CC with nil balance that I can transfer the balance too, the card is cut up and disposed of, but I have never bothered cancelling it. It will come in handy for egg, so thanks for that, i would have got caught out.

I might open another bank account at a different bank, it must help to have a few accounts at different banks, never know when they might be able to help you ) but i will open just a cash account, that way i can just carry that card around with me and take the switch card out my purse, that should stop impulsive buying. I was very good when i was in town today, I just bought the things I needed rather than buying random things, it was nice to feel in control.

Thanks again all.

make_life_easier

Now recently we have had a few extra bills to pay out like Car Tax, Car Ins etc...

It's cheaper to pay your tax and insurance yearly (no apr) I always put aside the yearly cost away monthly into an ing account which earns interest and the money is there when it is renewal time, it takes less than a week to be transfered back into my current account. Doing it this way does not tempt me to spend it.

I was very good when i was in town today, I just bought the things I needed rather than buying random things, it was nice to feel in control.

It's a great feeling to feel in control, especially with your finances. About 18 months ago I inherited my son's car along with an 11 grand debt which I was really not expecting. I soon got my head round the finance part and did a really tight budget. (this site has helped me no end - it's the best). When I found out I could make extra payments on the loan I tightened up my belt even more. I will have paid off the car within the next 12 months (2.1/2 years earlier) Then I will work on my credit cards(2@ 0% - a proper tart). I know things arn't easy and getting your head round all the posts your recieving will take some time but when I sorted out my finances I found I had about 500 quid left a month after everything was paid for. After deducting all I spend daily - I then pay anything I have left to my car loan the day before pay day so I can start afresh for the next month. I am now in control and it feels great

make_life_easier

Hey Tinker Belle - I'm new to the posting sorry I've done my replies with my Quote' and visa versa I suppose practice makes perfect!!