Must try harder!

WinterWarrior

Lookafterthepennies2020 said:

I was talking to someone at work yesterday about how harder I find it to save than to pay money back,  I think its because I've never really had savings so anything in the pot is a bonus...whereas CC i want cleared ( & I have struggled with that lately  )  Have a lovely day! 

I’m even struggling not to spend the savings! Like a credit card I feel I can ‘borrow’ and pay back, but then just borrow a bit more 🙄 I am the same, with never having any before I’m finding it hard to know how to deal with them 😖

Jellytotts

We said the same last week, if we have to put something on the credit card we go all out to make sure it's paid off as quickly as possible as we don't want debt but savings accounts get raided far to often.

DH said we need to treat the savings as a debt too, so we want to save for a new workshop shed for him. We've been out and seen the one he wants, we know how much it costs and what we need to buy to insulate and out electrics in so that is our new "debt" amount.  I've got a breakdown of how many months is should take to "pay if off" and have already halved the last payment by getting creative with the food budget, calling in some money owed, selling a few bits on market place.  It does help if you've got a purchase in mind.

We have a "help to save" account too with HMRC that matures this time next year, we've saved the maximum we could each month for 4 years, got a lovely bonus on year 2 that paid for my my chimney and log burner and the pay out at the end of the 4 years is rather nice too so that's always been earmarked for a new bathroom and the last 2 windows we need to replace and will put our emergency fund back in place.  I'm not sure we'll find another decent regular saver to take its place so we think that extra monthly money will go straight off the mortgage before we get used to having it to play with. If it sits somewhere we can access it, it will get spent...

Lookafterthepennies2020

I think with savings I think oh i have built it up, I can take some out and do it again, then don't.  I had the HMRC savings too which I had a £50 S/O set up into, unfortunately we had a bump in the car so had to withdraw over £500 but hopefully should still see some form of bonus.

My next savings goal is towards the Mortgage deposit and I think it seems so far away at the moment it's probably why I am struggling.  Might make a goal of fee's or a survey or something smaller and see if I can build it that way!

Naomim

Maybe you need a pot labelled CREDIT CARD and pretend you're paying a bill instead of saving. Or shufty the savings straight into PB's. Out of sight out of mind definitely works for me! 

Elisheba

I struggle with savings as well.  As soon as I have a few hundred pounds sitting in the bank I keep thinking of all the things I want to buy, and it never seems to stay sitting in the bank!

Baileys_Babe

Elisheba said:

I struggle with savings as well.  As soon as I have a few hundred pounds sitting in the bank I keep thinking of all the things I want to buy, and it never seems to stay sitting in the bank!

My OH is the same, he has moved all our savings into my account. I use a spreadsheet with details of our virtual pots to manage the account. OH can see the spreadsheet (but very rarely does) and is always pleasantly surprised when we have a pot to cover a cost, like this weeks coal delivery.

WinterWarrior

Thanks everyone. It seems to be a common problem and saving must have to be a (hard) learned behaviour, rather than something that comes naturally ☹️ naomim, I do have some in pb’s and in a different savings account and some in pots, but then I keep some in my normal accounts savings bit, partly because I need to know I can grab some if an emergency happens and partly because I’m frightened to put all my eggs in one basket. It is this easily grabbable portion that is causing me grief. I have drawn a firm line under it and refuse to let it get any lower! 

I had a planned spendy day today with a wonderful lunch out (very cheesy Mac n cheese, chips and a slice of garlic bread, followed by the amazing brownie sundae (crunchy brownie pieces in vanilla and chocolate ice cream, with chocolate sauce and fresh cream) and coffee with freshly baked shortbread (which was brought home for dog as we were so full))). Then posted the birthday present and spent an unplanned £2.09 in the co-op….gingerbread skull anyone?
This leaves me with £41 for fuel, which should be plenty as I’m halfway between half and 3/4’s as I haven’t used mine since dogs day out. After that it is a big No for spending until next pay day on the last working day. If I follow this through I will smash my 15 NSD target on the October thread 😁

Baileys_Babe

Good luck @WinterWarrior I agree saving can be hard to learn and stick to, but once you do manage it is liberating. I find it easier if most of our savings are allocated to specific jobs like annual bills (separated further by each category), car replacement, boiler replacement, holidays, presents etc.

I think drawing a line in the sand is the way to go forward.

Sun_Addict

I opened a Regular Saver account and committed to sending £250 a month to it by standing order. I can’t touch it for a year. I find it helps to treat savings like a bill. It took me a long time to get into this mindset though.

beanielou

It's so hard.
I have part of the money for my mums 80th & part of my funeral costs.
Just want to spend the teeny bit left though