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    • Blairweech
    • By Blairweech 28th Jun 11, 9:41 PM
    • 1,379 Posts
    • 16,273 Thanks
    Blairweech
    • #2
    • 28th Jun 11, 9:41 PM
    • #2
    • 28th Jun 11, 9:41 PM
    I keep a picture of my dream house in my purse, so I know where I *really* want to spend my money. I also think about how many hours I would have to work to pay for my purchase, which soon makes it not worth the effort involved!
    Last edited by Former MSE Penelope; 30-06-2011 at 12:44 PM.
    We must all suffer one of two things: the pain of discipline or the pain of regret and disappointment
    • luxor4t
    • By luxor4t 28th Jun 11, 9:57 PM
    • 10,297 Posts
    • 37,129 Thanks
    luxor4t
    • #3
    • 28th Jun 11, 9:57 PM
    • #3
    • 28th Jun 11, 9:57 PM
    I only take the cash I need to spend with me - if I don't have my debit card I can't spend more!

    I struggle to remember numbers so I deliberately didn't learn my credit card pin - very frustrating at times, but a huge money saver. Shame I don't need the pin for on-line spending ...
    Last edited by Former MSE Penelope; 30-06-2011 at 12:45 PM.
    I can cook and sew, make flowers grow.
  • IceCreamDreams
    • #4
    • 28th Jun 11, 11:12 PM
    • #4
    • 28th Jun 11, 11:12 PM
    My sister keeps her credit card frozen in a block of ice in the freezer! That way she cannot impulse buy, as she has to wait for the credit card to defrost before she can pay for anything, and by that time she has usually realised that she didn't need the purchase anyway... :0)
    Last edited by Former MSE Penelope; 30-06-2011 at 12:46 PM.
    Bank Accounts - HSBC Advance Current Account, Nationwide Flex Current Account, Lloyds TSB Basic Account
    Credit Cards - HSBC (2000 limit), Vanquis (1750 limit), Capital One (800 limit), Barclaycard Initial (260 limit)
    • Sharon87
    • By Sharon87 28th Jun 11, 11:28 PM
    • 3,554 Posts
    • 3,036 Thanks
    Sharon87
    • #5
    • 28th Jun 11, 11:28 PM
    • #5
    • 28th Jun 11, 11:28 PM
    Well I've now kept my credit card in a drawer, so I don't spend it in shops. If I want something that's not time sensitive (like tickets) I wait a bit and if I still want it in a week, 2, 3, 4 weeks then it goes on my list of things to buy when I get wages and I can afford it. It's mostly DVDs I do this with.
    • Dicegirly
    • By Dicegirly 28th Jun 11, 11:37 PM
    • 27 Posts
    • 29 Thanks
    Dicegirly
    • #6
    • 28th Jun 11, 11:37 PM
    • #6
    • 28th Jun 11, 11:37 PM
    To avoid spending money at work, I take my own lunch, and leave my purse at home.
    That way, on those days when I just don't fancy the sandwiches I brought with me, and they have something tasty looking in the canteen, I can't give in to temptation as I have no money with me, so I have to eat what I have brought or there is nothing else.
    Stops me buying a choccy bar for afters as well!
    • IDProtected
    • By IDProtected 29th Jun 11, 8:47 AM
    • 228 Posts
    • 205 Thanks
    IDProtected
    • #7
    • 29th Jun 11, 8:47 AM
    • #7
    • 29th Jun 11, 8:47 AM
    My sister keeps her credit card frozen in a block of ice in the freezer! That way she cannot impulse buy, as she has to wait for the credit card to defrost before she can pay for anything, and by that time she has usually realised that she didn't need the purchase anyway... :0)
    Originally posted by IceCreamDreams
    Sounds like a brilliant idea but doesn't it mess up the card? I thought you froze a card to break the codes within it!
    Owed @ LBM, including mtg: 85961.15, As of 1st August 2016: 14481.01
    September 2016; out of debt and have savings for the saddest reason. RIP Aunty, I'll never forget you

    Never begin a sentence with "And". Unless you are the Goo Goo Dolls that is.
    • 1jeannie
    • By 1jeannie 29th Jun 11, 8:54 AM
    • 30 Posts
    • 11 Thanks
    1jeannie
    • #8
    • 29th Jun 11, 8:54 AM
    Book a Good Holiday
    • #8
    • 29th Jun 11, 8:54 AM
    If I book a holiday because I've got that to look forward too and plan for I don't mind saving my money because it will help pay for my holiday.
    • casper_g
    • By casper_g 29th Jun 11, 9:04 AM
    • 1,082 Posts
    • 930 Thanks
    casper_g
    • #9
    • 29th Jun 11, 9:04 AM
    • #9
    • 29th Jun 11, 9:04 AM
    Sounds like a brilliant idea but doesn't it mess up the card? I thought you froze a card to break the codes within it!
    Originally posted by IDProtected
    I don't think freezing the card would damage it. Getting them wet is OK, and I've accidentally left mine in the car overnight without problems when the temperature was about -10C . Defrosting the card in the microwave, that might be more problematic!
    • Thefunkygibbons
    • By Thefunkygibbons 29th Jun 11, 9:08 AM
    • 1,362 Posts
    • 758 Thanks
    Thefunkygibbons
    Nothing works like a spending diary

    Having to record money spent on every little item highlights where the money went and forces one to think before each purchase
    • elizabethlovejoy
    • By elizabethlovejoy 29th Jun 11, 9:19 AM
    • 3 Posts
    • 3 Thanks
    elizabethlovejoy
    Just don't go to the shops! Take up walking instead!
  • Fredrico
    Just don't go to the shops! Take up walking instead!
    Originally posted by elizabethlovejoy
    I enjoy a walk but most times it involves walking past the shop!
    • GlasWolf
    • By GlasWolf 29th Jun 11, 11:10 AM
    • 142 Posts
    • 95 Thanks
    GlasWolf
    Posted this in another thread quite a while ago, but it works for me.
    Lots of good practical advice in this thread, but I agree with jamesd: your attitude to money is the most important thing of all. Like everyone else I allow myself the occasional little treat, but my personal pet peeve is similar to mostlycheerful: throwing away small amounts of money on stupid things. I despair at folk who come in to work every day with a starbucks coffee/tea, then go to the shops at lunchtime to buy sandwiches or salad (or a pie or pasty) and a bottle of water, and maybe a magazine to read while they're eating. That's 5 - 10 EVERY DAY just thrown away because they're "too busy" to make sandwiches at home and refill their water bottle. My individual daily food spend is probably less than their lunch budget.

    So regarding this "money sense", well I don't know if this concept will work for anyone except me, but think of it this way: imagine I gave you 1 (which is pretty unlikely, but stick with me on this one ). Now say you don't spend it, and instead sagely put it in your savings account. The next time you look at your account balance, it will be 1 higher than it would have been had I not given you that 1. Obviously. But when you look at it again in a years' time, whatever your balance may be after all the incomings and outgoings, it will still be 1 higher. And it'll be the same in 5 years, 10 years... in fact, that 1 will now follow you around for the rest of your life!

    Ok, so now imagine that tomorrow you're tempted by an impulse buy: say a magazine that you'll half-read then throw away, or a coffee that you don't really want but you have time to waste before your train arrives. This time, just remember: that 1.50 (or whatever) will be debited from your account balance; today, next year and for the rest of your life. Every time you look at your bank statement, it'll be 1.50 "short". Now imagine how much higher it would be had you not made all those daft purchases day after day. You'd be rich! Doh! Well it's never too late to start saving, so start now. Surely buying a house and food for your family is more important than a cup of coffee, or watching TV for 5 minutes instead of making a round of sandwiches for the next day's lunch? And if you're good at it, you'll very quickly find that you can buy yourself a little treat here and there and still make a profit on your overall balance. It's like free money!

    The wisest financial advice ever, is "look after the pennies and the pounds will look after themselves". Or, if you're from my part of the world, "many a mickle maks a muckle".
    Originally posted by GlasWolf
  • lilac_lady
    I agree with you Glaswolf but life can be short so I think it's best to factor in a little treat now and again. (not Starbucks and bought sandwiches though!) Carry cash, not cards - it's harder to spend when you're actually parting with money.
  • PudseyDB
    Have kids!!!

    I regularly go without stuff, so I can afford to take the kids out or treat them. In 5 years time I'll remember that day better than the drinks, magazines, sandwiches etc I might have bought otherwise!!
    XXXXXXXXXXXXXXXXXXXXXXXXXX

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    • surfsister
    • By surfsister 29th Jun 11, 11:38 AM
    • 7,339 Posts
    • 10,748 Thanks
    surfsister
    well research shows that it is experiences not things which make people happiest so I only go into town to buy food or shoes.

    I always look at the deals here and elsewhere and take advantage of 20 off 40 shops at Ocado etc and tesco wine deals but just don;t buy clothes/cd's etc any more.

    If I go to town I treat myself to a posh coffee and sit and people watch. Also using cash makes one feel that the money is really being spent whereas a card is so easy.

    The people pn here are great and so are their excellent tips!
  • SparklyJB
    I used to have one bank account into which my salary went every month and then I would roughly work out how much would go out and how much I could freely spend which usually left me overdrawn as I never got it quite right! When I bought our flat a few years ago, I really wanted to take control of our finances and read about the piggy bank technique which I now swear by - I hold several accounts with two banks and each one has a specific purpose, i.e. holidays, food shopping, christmas/birthdays/special events and an actual 'piggy bank' for my little luxuries. Every pay day, my salary gets divided up between the accounts, with all direct debits coming out from the main account on same day each month so I know when to expect the money to leave. I then also know how much I have to spend on the food shopping each week (divide it by 4) and I use moneysupermarket.com to get the best deals (I am no longer a loyal supermarket shopper, I'm a deal hunter!).

    Only 2 of the accounts (piggy bank and food shopping) have debit cards so there is no chance of me 'accidentally' spending money from the other accounts whilst out shopping - and if I do see something I 'can't live without', I have to log on to my online account and transfer the funds, by which time I've probably already decided I didn't need it anyway! I also no longer carry cash to avoid small impulse purchases which all add up.

    Friends think I'm mad and a little bit obsessed (probably am, but at least I'm steadily saving each month!), but by using this technique, I know exactly how much I can spend on various things each month and I never go overdrawn anymore.

    Organisation is definitely the key!!
    • Willow92
    • By Willow92 29th Jun 11, 12:33 PM
    • 2,122 Posts
    • 13,093 Thanks
    Willow92
    I wish my OH would do something like this Sparkly.
    Savings 5,848 /7,000
    • heloid
    • By heloid 29th Jun 11, 12:47 PM
    • 469 Posts
    • 141 Thanks
    heloid
    Separate account for spending with your budgeted amount in it. When its empty, no more luxuries.
    • minerva_windsong
    • By minerva_windsong 29th Jun 11, 12:48 PM
    • 3,765 Posts
    • 8,672 Thanks
    minerva_windsong
    Someone on the No More Toiletries thread has a sticky note on their debit card which simply says 'NO!' to eliminate impulse purchases. Easy and effective
    "A mind needs books as a sword needs a whetstone, if it is to keep its edge." - Tyrion Lannister

    Married my best friend 1st November 2014

    Loose = the opposite of tight (eg "These trousers feel a little loose")
    Lose = the opposite of find/gain (eg "I'm going to lose weight this year")
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