Ditching the cards

Debt_Free_Chick

FrankieM wrote:

How do you not overspend though???
I find that its those little purchases that really add up...and my OH thinks a tenner here and there is nothing!

But each purchase comes off my budget. So now, I've spent (another) £15 out of my food budget for this month. I can now see how much I've got left for the rest of the month.

You're right - nothing can stop me deliberately overspending, but the difference is that I know I'm going to blow my budget before it happens - not afterwards

If you have too much month left over at the end of your food budget, then it sure concentrates the mind when you rifle through the freezer looking for dinner :rotfl:

In reality, I'm not a frivolous spender though. I can go weeks without spending any money, except to pay the milkman! It helps working from home and being out in the sticks as there's nowhere to spend any money - honest!

lilmisskitkat

Hiya

I fell into the habit of using my debit card for everything but found it was so easy to overspend, especially as i had the safety net of my £100 overdraft. Like i'd go to Asda and get what was on the list and then get a bottle of wine and a magazine or nail varnish or a comic for DD and think 'oh well its going on the card so its ok'

One week i'd spent my 'real money' which was in the account and gone £70 into my overdraft which meant that when my money went in the week after most of it went on paying the overdraft back so i was skint that week - never again lol!

Now i take out £50 a week which is for food (£25), electric meter (£5), and what is left is for bus fares/swimming/soft play etc and a magazine or bottle of wine for me. All my bills are paid by direct debit and my rent is a weekly standing order.

I find it lots easier and don't overspend if i've got the cash there in my hand and think 'right this has got to last me the week'.

Kate xxx

tootles_2

I have debit cards and also a Tesco credit card which I use for groceries, petrol etc, but I have found increasingly that I have been overspending each month, I pay the balance in full.......so I am going to draw cash to pay for my shopping and to put our £20 petrol in the car for the month. That way I know what I have spent and what I have left to last me the rest of the month.......I save up my vouchers and use them at Christmas to pay for my December shopping so I use my HK allowance to start off my holiday fund.

Our budget means that we have to keep a strict eye on what we spend, it has got away from us recently, especially as I have had to buy paracetamol etc for the virus we have both been suffering from.

JAMIEDODGER

i draw out £80 cash on a monday from tesco cashpoint. i then do my food shop for the week (usually about £30) i have £45 out of the £80 allocated to food and nappies and cleaning products. i budget £10 for petrol so i fill up while im there. that leaves £25 for everything else: pocket money which the kids get on a monday, cigarettes etc therefore everything else left in my purse (probably £10) has to last 6 days, i usually try not to drive (saving petrol) on tuesdays and thursdays which usually ensures i dont go to the shops and therefore have at least 2 non spend days per week.

i try and spend as little as possible on the weekends, which is pretty easy considering we rarely go anywhere because its difficult coz of DS3. to be honest even with four littlies i still usually have money left on a sunday evening! i try and walk whenever possible because parking fees are so high. last week i only needed to put £5 out of £10 petrol in the car....and i drive a galaxy seven seater!

i have stopped using the debit card because cold hard cash in your hand is so much more difficult to spend!

taplady

I agree that using cash makes you think about what you are actually buying and whether you can manage without it really. I too draw out our weekly grocery money and personal pocket money and also the petrol money then we dont need to use the debit card(not got a CC any more) at all and stick within our budget.
If I was using the card for everything I think I would get carried away as it doesn't seem like you are spending actual money !

Linda32

crazyhazy wrote:

So today I have worked out how much I should need for the things I can pay cash for, train travel, food and any other things that crop up and I am going to try taking this out the bank at the start of the month and leave the cards at home. It works out I should have about £60 per week so hopefully will be able to manage! Any tips for making it work and staying away from the cards?

Would it be practical for you to only take with you each day just enough cash. You say £60.00 so is that roughly £10.00 a-day.

Leave the cards at home, unles you feel you need them as an emergency. But only imagine you have the £10.00 on you.

shetitasatic

I had a positive experience of using cash yesterday. I went to our Tesco Extra to do a fortnight's shop with £70 from my DH (his turn to pay!) I had almost finished shopping when the lights in the store dipped and almost went out, this happened again a few minutes later (thunder around?)
Then an announcement came over the tannoy that apower surge had affected the electricity supply and although the tills were working they could not accept any credit or debit cards, ONLY CASH!
The looks on people's faces - the cash machines outside weren't working either, or the petrol station!!
Some people just abandoned their trollies - others were prepared to drive a few miles to find a cash point!
I felt really smug!
However if it had been my turn to pay I would have been stuck as I usually use my CC!