Staying away from debt!!

kangoora

Everything I buy I think first, do I NEED it. If yes, then 'can I afford it'.

If no, is it really just a WANT. Same process, except if it's a 'want' I'm especially careful in thinking about whether I can afford it and, really, if it isn't a NEED item then am I just blowing money for no real reason.

For example, I caught myself looking at some new shoes the other day thinking 'I haven't bought any new shoes in years'. Then I realised/remembered I had 2 perfectly good pairs of dress/office shoes at home which hardly ever see the light of day now I'm retired. So I walked off thinking "That's saved me £100"

Sometimes it helps to think about how much money you are 'saving' by just not giving into impulse buying.

[Deleted User]

I'm another fan of setting up Standing Orders so that X amount goes straight to savings accounts on a weekly basis.
I do 3 of them, and that money doesn't get touched, ever, I don't see it as mine and don't think even think about it.
It gets used to pay 1) HMRC, 2) ISA, 3) mortgage overpayment.


Regarding 'treating/rewarding myself' for the weeks hard work - see it as the wage you receive is the reward.
You've had a horrible/gruelling/difficult/whatever/ week ……. well the hours you've worked to get through it is to your reward.


These are methods that work for me :beer:

La_escocesa

I'm a big fan of zero-based budgeting. I use YNAB but you don't need the software - it's just to make sure you budget as soon as you get money and make sure every penny is allocated. It may be allocated to savings or it may be allocated for frivolous spending, but either way you know what is going where. You won't feel guilty about the odd bunch of flowers etc because it will be accounted for somewhere. Give every penny a job and you'll feel 100% in control.