Where is my money going?!

redmel1621

Catsacor wrote: »

My method of mindful spending is quite simple.
I don't spend anything during the week - and i'll explain what I mean ……..


So, I work 5 days a week, start 8.30, get home 4.30.
In that period I have no money on me....
I don't need to buy anything as drink and lunch/snacks are already brought from home and are with me, petrol i buy once a week - so no need for any daily travel costs either....


This, for me, means that at the end of the week I haven't had any 'petty cash' costs and subsequently, I've not dipped into that weeks earnings.
I'm making it sound easy and simple and it is, it's not complicated at all.
I read, on here, how some people spend some money every day and when I try and think how I could apply it to my own situation it scares me just how easy it can be to have spent £5 or more every single day.


For some who have public transport costs - take that exact amount of cash with you, or buy tickets upfront etc, etc, etc. have nothing on you and you can't spend it - and if you're a compulsive spender, the more you take, the more you'll spend.


Regarding socialising and spending:
I would go out on a Friday evening, or a Saturday or Sunday lunchtime - just 1 of those, i'm a real home-lover but I can see how the people that like to socialise heavily would find my choice of lifestyle crippling - each to our own !

I like this way of preventing spending and it is something I pretty much do too. However, Dh is not so good at it. We both take debit cards everywhere we go "just in case" as someone else pointed out.

I try to do a weekly shop that involves no top up shops at all. I freeze milk and bread and if the fruit/veg runs out it doesn't get replaced until next shopping day. I do tend to have tinned/frozen veg in and dried fruit like raisins etc too, so once the fresh is gone we switch to those.
My car is electric, so I charge it each night which means no petrol stations stops and I take my lunch to work. I always take a few extra bits with me, in case I am super hungry, or just to give me a choice of foods. Nothing worse than 'not fancying' what you have taken and ending up at the shop...

If only Dh could also stick to this we would save a fair bit. He just HAS to have random Costas, Maccies, Subways etc. or if he is getting petrol a chocolate bar just can't be passed up. He drives me insane. After my moaning he reigns it in a bit, but it always starts again.

I do think that a good budget is the way to go. Write down every category you can think of.. Plan ahead for all food and try to buy it in one go to avoid top up shops and try to avoid going in shops at all apart from your weekly food shop.

Good Luck :money:

MisterMotivated

As others have said, a spending diary is key. I started by keeping notes of everything I spent each day on my phone, then transferring them to a spreadsheet in the evening/weekends. It helps you see exactly where your money is going, but once you get into the habit, also makes you a bit more aware of your spending at the time.



What's the rate on the credit card? If it's not already 0%, could you apply for a 0% balance transfer card?

[Deleted User]

Potbellypig wrote: »

My midweek after work/school hours:
Monday - x1 child gymnastics class
Tuesday - x1 kid football training
Wednesday - darts/snooker night
Thursday - x2 kids swimming lesson
Friday - 5 a side football

Good luck spending nothing in the week Potbellypig.

Yes your situation is different to mine but the principle's the same.
The point being about the 'incidentals' - don't have the 'availability' there and it can't be used.

zippygeorgeandben

I put a proportion of salary towards all essentials (DDs/SOs/monthly outgoings but NOT food) and then the rest is for me.
The reason I don't put food in this section is because people get in the habit of 'thinking' they need to spend a certain amount of money on food, whereas if it's part of your 'own money' you become a bit more frugal.