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Changing Bad Habits!

laughingblonde
Posts: 1 Newbie
My debt doesnt seem that big compared to some, but for me, its more of my bad money habits that I need help with. I currently owe £2000 on my overdraft and credit card, which I should be free of by February, but my main issue is that I need to get better managing my money.
Just come off a serious discussion with my husband about money - he has had to bail me out a few times in helping my money to last the month. I've filled out my spending tracker and am trying to just deal in cash, but any hints and tips would be really appreciated!
Just come off a serious discussion with my husband about money - he has had to bail me out a few times in helping my money to last the month. I've filled out my spending tracker and am trying to just deal in cash, but any hints and tips would be really appreciated!
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Comments
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Welcome to the forum :hello:
Have you tried keeping a spending diary, so you can track every penny? I found it a really useful tool to help identify wastage from the monthly budget. For instance, until I started my diary, I didn't know I was spending about £150/month on lattes and snacks!!I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job0 -
I was in a similar position laughing blonde, I was in around £4-5k of unsecured debt which doesn't sound a lot in comparison to others but it was never going down, only up!! this was due to my poor control of money. I started my debt free journey in July, these forums really help! I document weekly my plan for budgets etc in my debt free diary. not sure if anyone reads it but I finds it useful to discuss my plan for the week and how I plan to manage/spend money.
I must have about 5 spreadsheet's on the go as well! I plan and budget down to how much petrol/food I spend each week/month so I can keep track and keep within my budget. I was so surprised at how much I spent on food! nipping to the shop after work spending £5+ all adds up throughout the month!
Get involved with some of the debt free challenges! I have found them useful. The NSD September challenge especially. You pledge how many none spending days you are going to have throughout the month and update daily. I found it kept me on track and stopped unnecessary spending! There are loads on here have a good look and see which ones suit your life style.
The best advice I could give at the moment is BUDGET! and don't go out side this budget unless of emergency's. I went through my bank statements and wrote down exactly how much I was spending on food, petrol, bills, phone, nights out etc. I then decided on what I was going to stop doing moving forward e.g I was buying coffee from Starbucks at least twice a week. This stopped. You'll start to see a change, I didn't do as well as I'd hoped in August (had to use the overdraft) but it's made me more determined for Sept!
Good Luck! you got this!Debt Free Diary..."Start of a new chapter"
Nov: Unsecured Debt : £2,900.. Bring your lunch to work 1/18..NSD challenge 5/200 -
Hiya,
Can I ask how your intending to pay off your overdraft of £2000 by Feb 2019, like do you have a set plan?
I recently reduced my overdraft down from £2000 to £1960, and thought it'd be good to have the remainder cleared off by February 2019 alsoThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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