We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Tried Budgeting to Avoid Debt, but It Didn’t Work for Me


I set up a budget using apps, tracked my income, and wrote down every expense. Initially, it worked fine, but over time, I found it really hard to stick to. Unexpected expenses kept popping up—whether it was an urgent repair, an impromptu night out, or even just impulse buys when I felt stressed. It became overwhelming, and I would often end up adjusting my budget to fit what I wanted to spend rather than what I needed to.In the end, I didn’t manage to avoid debt. Instead of keeping everything under control, I found myself struggling with credit card payments. I feel frustrated because I really wanted to get it right. Has anyone else had a similar experience? How do you stay disciplined with budgeting, or do you have any tips for dealing with unexpected costs? I’m open to suggestions!
Comments
-
Keep trying!0 bonus saver
35 NS&I
194 credit union
100 Computer
Credit card 2505
Overdraft 02 -
Hiya! If you are trying to get out of debt, it would be a good idea to post on the debt free wannabe board.
But budgeting is hard - it requires planning (so few expenses not accounted for) and discipline (if there's no money for a night out, then you don't go)
It takes a few goes to get a budget right and then it needs to be adjusted for any life changes and every year when the prices of things go up.
Unexpected needs require an emergency fund.
Unexpected nights out need the ability to say no - to the night out or something in it's place.Statement of Affairs (SOA) link: https://www.lemonfool.co.uk/financecalculators/soa.phpFor free, non-judgemental debt advice, try: Stepchange or National Debtline. Beware fee charging companies with similar names.2 -
Do start a diary in the debt free wannabe diaries section, and people will be able to chime in and give support and suggestions
https://forums.moneysavingexpert.com/categories/debt-free-diaries
But in answer to your question, you're a human being not a spreadsheet. You need an emergency fund and a fun fund so you're not taken by surprise or feeling totally deprived0 -
It's a good idea to have a separate bank account for monthly bills. Work out how much these are each month and when you get paid have a standing order for that amount transferred to your bills account. This account is only for bills, you do not touch it otherwise. Then that is taken care of, you don't need to worry about not having enough to cover bills.For items paid annually, you should aim to save an amount each month to cover those expenses. So you'd need to work out how much you need to put away for those things each month.Aim to save for an emergency fund, this can be three months of living expenses if you lost your job for instance, so you have a buffer if something happens. This may take time to build up.There is a 75/15/10 rule that can help. You are only allowed to spend 75% of income, 15% is saved and 10% invested. You pay yourself first - that means bills are covered, savings are covered, investment covered. Whatever is left is what you have freedom to spend each month. What is left is in your everyday current account and you cannot spend more than that each month, once it's gone, it's gone, and no extras paid with on credit cards because you are going to have to pay them next month.On top of that, getting the best deals for services and shopping habbits. Buying in bulk, buying when stuff is on offer. Making sandwiches instead of buying meal deals. Cook from scratch instead of eating out. Take coffee flask instead of buying Costa.....If your expenses are more than your income, you have to reduce spending or increase income.3
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards