Stop Spending! Article Discussion Area

edited 14 June 2010 at 11:44AM in Debt-Free Wannabe
7 replies 11.6K views
Former_MSE_AndreaFormer_MSE_Andrea Former MSE
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edited 14 June 2010 at 11:44AM in Debt-Free Wannabe
This thread is specifically for discussing the Stop Spending article.

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  • ChesChes Forumite
    1.1K Posts
    oops wrong thread
    Mortgage and Debt free but need to increase savings pot. :think:
  • This advice is brilliant if you have a partner who sees things the same way.

    I have been struggling for years with the OH to get her to see the reality of our overspending.

    It has driven me mad.

    I have been diagnosed with clinical depression now. Plus my only income is freelance I only have part-time income and there is no work I can find from December.

    She does not want to see a counsellor with me, so the only way out is to divorce - I feel sorry for the 3 kids :-(

    The only other alternative is to let the banks take everything back and see if she learns then, if so we just start from scratch.
  • Lula-HulaLula-Hula Forumite
    7.9K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    Great article :T but, as the above poster says, will only work if you actually want to clear your debt :rolleyes:.

    I truly feel for those with partners who are either still in denial or just unwilling to change their ways. I too live in 'very expensive surrey' & think this location is particularly hard to make the changes in, so many here appear to be so wealthy & shopping, coffee & lunch out seems to be a pastime for many of the surrey housewives I know. There is a hugely competitive culture in this area & for those who are slightly insecure it is a trap.

    A friend of mine with over £4,500 of CC debt has just booked a £2,500 holiday for next year on the basis that everyone else she knows went away this summer & she feels left out. She is a single parent who works part time but because of the property boom has plenty of equity in her house & is therefore unconcerned about the debt :rolleyes:. Yes, I have given her the details of this site, & she now has a 0% card but is still paying just the minimum & has now effectively given herself more money to spend each month. I tried.

    I faffed about for a good year after I supposedly had my lbm, thinking that I had changed my ways ... & only now am I really really determined. I still get pangs of 'Wanting' now & then but usually find someone on here to talk me out of it :D. Found a fab pair of boots I wanted in River Island for £90 ... just bought a pair off ebay for £14.95 . I am learning, albeit slowly :o
  • Yep great article, but as others said you can read it, know it's all true, but still not really act on it.

    Personally I found myself going through the lists and filing the tips into categories in my head:

    - Not applicable (Surprisingly I found about half of the tips fell into this category: I haven't got a car, my utility bills are included in my rent, I don't have kids, so on, so on...)
    - Do already (I alway fell vaguely disappointed reading these. I think I was secretly hoping the article would reveal lots of amazing relevant ideas I hadn't thought of yet that would help magically halve my expenditure! I guess most "spend less" ideas really are quite obvious!)
    - Will probably start to do (the good ideas I haven't considered, or have considered but needed a reminder!)
    - Probably should do but can't bring myself to! (I love my hairdresser even though I know I could get a student to do my cut for half the cost - I feel very guilty when I read this tip!)

    Although it was a good reminder article, I did feel like I could recite a lot of it by heart. That probably shows that it's just tried and tested advice.

    I get a bit defensive sometimes when I read the old chesnuts ("Why not take a packed lunch to work?" I do! Shut up!!) Anyone else get that?!
  • That says convert the cost of an item into the number of hours you'll need to work to pay for it.
    I use a more aggressive version. First work out how much of your weekly pay must go on essentials, housing, food, electricity etc. Include everything you MUST spend - although not really "essential" you are going to give the kids christmas and birthday gifts. Don't forget annual payments like car tax and insurance. Let's say you're taking home £6 an hour for a 40 hour week and your unavoidable spend is £200 a week, that means there's £40 left for "discretionary" spending. That's £1 an hour so it's going to take you not 2 days but two solid weeks work to pay for that £80 fashion item - as long as you don't make ANY other discretionary spending.
  • You can only spend money ONCE - think how long you had to work to earn it before you part with it! SIMPLES! :money:
  • Hannah_10Hannah_10 Forumite
    1.8K Posts
    Never take your children to the supermarket with you.

    “I want” doesn’t save you money.

    Neither does getting a childminder at £4 per hour per child Martin!

    Oh and if I don't take the kids to the supermarket how will they learn to shop responsibly?

    Not everyone has kids they have no authority over y'know. Tsk Tsk.
    I refuse to be afraid of the big bad wolf, spiders, or debt collection agencies; one of them's not real and the other two are powerless without my fear.
    (Ok, one of them is powerless, spiders can be nasty.)

    As of the last count I have cleared [STRIKE]23.16%[/STRIKE] 22.49% of my debt. :(
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