Life of a ‘soon to be’ reformed fritterer

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Morning all,
Shuffling back quietly into MSE land
. I’ve had a few debt diaries here and thanks to the support of the wonderful diaryland people I managed to clear my debt twice.
I’m starting a new diary because I have a tiny amount of debt (iPad died at Xmas) but to be honest the frittering habits that keep bringing me back into debt are still there and that is what I want to fix.
I want to stop my frittering and focus on only buying ‘needs’ not ‘wants’. To give you an example, this week I went and got knew prescription sunglasses (£74) because I sat on the old ones - oops. They are a ‘need’ because I need them for driving but I probably could have got them cheaper. For me the issue was that once I spent the money on glasses I then spent money on a new purse, running leggings and an iPad cover. I can easily justify why I bought them but honestly they were not ‘needs’.
I’m hoping to use this new diary to keep me accountable and ensure that I only buy ‘needs’ until I can manage my life without frittering like a mad thing. So for every purchase I will have 3 questions -
Do I ‘need’ it? (Honestly, I probably don’t)
Do I need it now?
If I don’t need it, why do I want it.
Hopefully by the end of the year my spending habits will finally have changed for the good and my savings will have vastly improved.
Shuffling back quietly into MSE land

I’m starting a new diary because I have a tiny amount of debt (iPad died at Xmas) but to be honest the frittering habits that keep bringing me back into debt are still there and that is what I want to fix.
I want to stop my frittering and focus on only buying ‘needs’ not ‘wants’. To give you an example, this week I went and got knew prescription sunglasses (£74) because I sat on the old ones - oops. They are a ‘need’ because I need them for driving but I probably could have got them cheaper. For me the issue was that once I spent the money on glasses I then spent money on a new purse, running leggings and an iPad cover. I can easily justify why I bought them but honestly they were not ‘needs’.
I’m hoping to use this new diary to keep me accountable and ensure that I only buy ‘needs’ until I can manage my life without frittering like a mad thing. So for every purchase I will have 3 questions -
Do I ‘need’ it? (Honestly, I probably don’t)
Do I need it now?
If I don’t need it, why do I want it.
Hopefully by the end of the year my spending habits will finally have changed for the good and my savings will have vastly improved.
6
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YNAB app has really really been life changing for me. It keeps me focused on my spending and I reconcile it to my bank account daily. I have given myself a “fritter” allocation each month so that I don’t feel deprived but it’s so much easier for me when there is a written down limit of what I can spend on what each month. The app makes it so easy and allows me to move money from another budget pot if I want to overspend on anything.
Also having financial goals helps me to stay on track. My “big” goal post divorce is to be mortgage free before I’m 40 and then I have smaller goals for a proportion of that to have been achieved by key dates which I track in a spreadsheet. This helps keep me focused on sticking to my YNAB.
Good luck xx
1 Nov 2020 @ £42,204 to go in 34 months! (£1,241 a month)
1 September 2021 @ £17,500 to go in 24 months (£729 a month)
MFW 2021 #3 - £24,148/ £17,500 🙌
I think I need to really focus on having financial goals so that I mark my achievements. Will pop over and subscribe to you diary and cheer you on in your journey.
Good luck with paying off the last of your debt. I'm a real YNAB fan too!
Finished Emergency Fund- £10,000 April 2017
🌟
RETIRED: MAY 2021!!!!😀🎆
My diary: “Seasidegal's Scrimpy Retirement Diary!”
Pup is still adorable and spoiled but has been amazing company in lock down - found lockdown 3 tough.. I’m going to go catch up on your diary ..I was dipping in and out but have lost track of everyone. I see you have a pension update so will have to go and work my way back to see what I’ve missed.
I did spend money today but not frittering. Diesel for the car and sun loungers for the garden (£45 for 2 - Dunelm). I tried to buy them last year because we have none but because everyone was at home you couldn’t get them for love nor money. I’m getting ahead of the crowd and I’m hoping I’m not jinxing the summer.
I have a few jobs that will need some money this year, in the next month (if I can find motivation) I need to hire a skip. I have a shed to clear out - family use it as a dumping ground and I can’t get the car in or store anything so going to clear it out. I am also replacing the hearth in the living room (70s chic must go). Hopefully that is the only big jobs for this year.
So my plans on the money front -
F
Sir Francis Bacon 1561 - 1626 (Philosopher & statesman)
I bank with Monzo and have set up sinking funds to cover annual expenses (rates & insurance) and monthly expenses such as yoga (pre lockdown), clothes etc. I am going to allocate money to personal spends and will try out ‘when it’s gone, it’s gone’ - rather than robbing Peter to pay Paul
I’ve also been thinking about the purpose of my money to help me save & stop frittering. I do have a decent for me salary and should have more in savings to show for it. So my goals - I think £10,000 represents a lot of security to me, I want to have a security blanket so that I don’t worry so much but I’m a born worrier. The house needs totally rewired but I’ve been advised I can put it off for a year. I love my car but it is 8 years old ... I will keep driving and maintaining until the cost of repairs get too much (hope to get 3 or 4 more years). Finally, the living room needs a new hearth (open fire), I was thinking I will replace it this year but this might slip to next year. In non house reasons - I want to go to a spa, have lovely holidays, meet friends and enjoy the fun things in life - which I can do if I spend mindfully. So I have lots of reasons to stop frittering. Putting this here to remind myself when I’m in a fritter mood.
NSD 3 today