Savings Diary: BDays, Xmas, Controlling Impulsive Spending

savingwannabe

I did it for a while, v good idea. I always want to do the competitions but never do get round to it. I do hope you win. You might win something like a holiday abroad! Good luck.

MovingForwards

You don't really do much with the donor account, just keep swapping to get deals.

I've actually got 3 current accounts:
- wages, bills for the first one,
- car, car repairs, car insurance, home insurance,
- home emergencies

The first one is my everyday card, no interest.
Second gets used only for car related things and home insurance, 0.10% interest.
Third one is in case I need a plumber or something, 2% interest.
All the cards look different so there's no chance of using the wrong one and I keep track of all my accounts on a spreadsheet.

Something to concern yourself with in the future!

lindsay54v3

@savingwannabe I found a site that compiles some ongoing UK competitions and just use it to see which ones are by brands/companies I use and trust, then I find the competition directly through the brands website. Just means everyday I click one link, have a scroll through and takes a lot less effort And thank you! 

@MovingForwards Still looking into just switching to another account at the moment, then will consider additional accounts down the line once I have more regular expenses to keep money separated. Still not 100% on if I have to transfer all my savings to current account beforehand, also not sure how it affects my LISA which is connected to my current account but I've decided I want to go for it so that's a start! As long as the deal is still in place once I have all the other details ironed out

MovingForwards

When you've your own place, then look into a second account.
Double check the terms of your LISA and how it's connected to your current account. You don't want to be missing out on that bonus and don't withdraw your LISA money as you get charged if it's not being spent on a house or as your pension.

Take small steps and don't rush into things.

lindsay54v3

@MovingForwards That's the plan

I've used the moneybox help system to ask them about it, won't do anything till I have all confirmed. From reading about switching accounts any direct debits etc that are linked to account should all automatically move across, only things paid directly from card would need to be alerted, but I want to be 100% sure first. And if it were going to affect my LISA I wouldn't close the account, I have no intentions of withdrawing as nothing would be worth that loss! No worries about rushing here, even after I make a decision I want to do something I still take caution and make sure I know all the details first, can always change my mind if I don't like what I find out. Just the way my thought process works is I need to make the initial 'Let's go for it' to get the anxiety out of the way and really commit to researching the finer details, helps me relax a little bit somehow

 If I end up missing out on the incentive it's not like I'm losing my money, is only a bonus that would be nice but isn't necessary  

lindsay54v3

Update 

Think I'll try to tidy up my layout a little bit, anything that is not a response to another user will start with the above, will make it easier for myself to find and anyone else if they decide to read along

I spent £12 this morning on a couple of skincare products, don't really need them right this instant but was a good deal for two products I really like so thought I may as well. Which I suppose is a bit of a grey area for me to let myself have that thought process but considering how much I haven't spent this month I can allow myself little spends from time to time. Had class today which helped keep my mind active, have a project to do which will take some time so hopefully that will stop me scouring the online stores and being tempted by deals!

Have received my delivery of wool as well and have started knitting one of the scarves I intend to give as a gift for Xmas, keeps me busy (and also stops my online shopping!) and it's a nice activity to relax my mind. My finger is a bit bruised from hours of pushing the tip of the needle to move wool along, but I shall persevere

Discussed skincare with my SIL as it's a shared passion and she offered to see what she doesn't use and if I'd like to try them which is so lovely of her! We have the same taste in brands as there are some new ones she has introduced me to  

Success of the day is I said no to ordering in some dessert and made do with some of my ice cream so that's easily saved me at least £5!

MovingForwards

Your understanding of bank switches is the same as mine.

Would you consider allowing yourself 'pocket money' each week / month, so there is a treat budget?

Do tell us about the wool, what colour(s), how soft, fluffy and anything else. Then we can visualise what you're talking about 😃

SIL sounds lovely and probably appreciates having someone to share interests with.
My 'SIL' often sends me away with bits she has made or doesn't need anymore and I take her things round.

lindsay54v3

@MovingForwards I'd need to have a think about whether an allowance would work for the way I think, knowing myself I'd probably just spend the lot rather than if I don't set one I'll be more likely to think about how much I really want the treat and spend less. I have fairly good self awareness and think I would probably fall into the trap of spending the entire treat budget when I don't really need to

Just black DK wool for current scarf, this particular friend mostly wears black clothing so it's the safest bet of what he would like, it's not super chunky or fluffy but it is soft! Have turquoise wool as well for another friend, its his favourite colour but he feels its too bright to own any tshirts in that colour so thought it would make a nice treat for him to pair with his darker clothes for a splash of colour

Just us two girls in the house and then our OHs, definitely nice to have girly chats as we're just like sisters! It's so lovely to have close bonds with others isn't it

MovingForwards

You've considered it and your reasoning is a good one to not have a budget for it.

Both scarves sound good, as do the colours.

Not sure about you, but I find it difficult to bond with people. On those rare occasions I do, then the person is like family. When things are 'normal' I'm going to the ice cream shop with SIL 🤗

lindsay54v3

@MovingForwards I am tracking my spending on a spreadsheet divided into categories so I know exactly how much I spend every month. Now that I'm controlling my spending I'll be able to make a comparison at least. Seeing how much I'd spent in the first 9 days of February was definitely an eye opener and it's that kind of tracking which I believe will help me best

I struggle with bonds as well so I know exactly what you mean, I don't interact with a lot of people but I do care greatly about those close to me! It's part of what's making lockdown hard, i'm not particularly used to talking online with my friends, usually we only ever message one another to make plans to meet up for dinner or a night out. Still check in with one another, but we all do better socially in person

Its nice that you have a plan with her once things have relaxed hopefully the weather is a bit more pleasant by then so you aren't eating icecream in - 0 temperatures