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  • FIRST POST
    TurnaroundSue
    Why do I Always Feel Like I Have No Money!!
    • #1
    • 24th Feb 07, 4:12 PM
    Why do I Always Feel Like I Have No Money!! 24th Feb 07 at 4:12 PM
    Hi All, If not in right forum, please feel free to move me :confused:

    I don't really know how to put this, but even though we have very little debt, a few savings and a small mortgage, why do I feel that I have to constantly watch the pennies?

    I know from reading this site that I am very fortunate and there are alot of people in much worse financial positions than I am. I owe £4k on cc for my OH's car (3.9% until 10/10), my mortgage is £24k (but will shortly be increasing this to £45k due to an extension we are in the process of having built) and savings of around £2k. My OH brings home around £2k pm and my part time wage is £600 pm - so we are both earning relatively good money.

    After all bills are paid we have around £800 pm disposable income, but I still feel that we are broke. I know most of you will feel that I should count myself lucky (which, by the way, I constantly tell myself that I am), but I just hate this feeling like this. How to people manage who are in a much worse position than me? I know I am most probably going to get criticised for this post, as I am aware of others' positions are worse than mine, but it really is affecting me.

    Any ideas anybody?

    Last edited by MSE Archna; 27-02-2007 at 8:39 PM.
    When you were born, you were crying and everyone around was smiling. Live your life so at the end, you're the one who is smiling and everyone around you is crying!
Page 1
  • Stewboy1978
    • #2
    • 24th Feb 07, 4:18 PM
    • #2
    • 24th Feb 07, 4:18 PM
    All depends on what you do with your disposable income I suppose...

    You may be spending it on the same things every month, that because you do this you may not realise you are spending it? Ie do you go for dinner every week? Do you buy a lot of clothes etc...? If you are in the habit of spending your left over money then this is why you may always feel brass lint!
    • mountainofdebt
    • By mountainofdebt 24th Feb 07, 4:19 PM
    • 7,424 Posts
    • 10,794 Thanks
    mountainofdebt
    • #3
    • 24th Feb 07, 4:19 PM
    • #3
    • 24th Feb 07, 4:19 PM
    Perhaps you've been in serious debt before and had to watch the pennies?

    Seriously though unless you are being unreasonable about watching the pennies then don't worry too much about it!
    2014 Target;
    To overpay CC by 1,000.
    Overpayment to date : 310

    2nd Purse Challenge:
    15.88 saved to date
    • Triker
    • By Triker 24th Feb 07, 4:24 PM
    • 7,071 Posts
    • 82,151 Thanks
    Triker
    • #4
    • 24th Feb 07, 4:24 PM
    • #4
    • 24th Feb 07, 4:24 PM
    Maybe it's because you don't feel like you can 'splash out' or that you can just shop for stuff just because you want it rather than need it.

    I feel like I don't have any money either......but I have assets.... and debt.....but no real disposable income to just spend without having to think about it.

    Not a nice feeling I agree.
    DFW Nerd 267. DEBT FREE 11.06.08
    Stick to It by R.B. Stanfield
    It matters not if you try and fail,
    And fail, and try again; But it matters much if you try and fail, And fail to try again.
    • chevalier
    • By chevalier 24th Feb 07, 5:08 PM
    • 7,761 Posts
    • 18,056 Thanks
    chevalier
    • #5
    • 24th Feb 07, 5:08 PM
    • #5
    • 24th Feb 07, 5:08 PM
    I suggest you do your own financial review. So
    1) Bulding and contents insurance. If you are building and extension, then the rebuild value for your house is going to change anyway. When was the last time you checked that your current, building and contents insurer was the cheapest? Have a look on www.confused.com and plug in your details. If you can find a cheaper quote, then join www.quidco.com, and see if your potential new provider is listed on there. If they are then not only can you get a cheaper deal, but quidco will give you cash back too.
    2) Do the same for your gas, electric, life insurance etc
    3) Start a spending diary in a note book. For at least a month, you note down every thing you spend each day, no matter how small. You may find that over a year you are spending 500 on a latte coffee habit you didn't realise you had, or that the newspaper you buy every day is costing you x amount a year (when you can read it online). It will also give you a feeling of being in control of your money.
    4) Do you have any bank charges you can reclaim?

    best of luck
    chev
    I want a job that is less than an hour driving away from my house! Are you listening universe?
    • beanielou
    • By beanielou 24th Feb 07, 5:43 PM
    • 58,039 Posts
    • 238,914 Thanks
    beanielou
    • #6
    • 24th Feb 07, 5:43 PM
    • #6
    • 24th Feb 07, 5:43 PM
    You also could always stick up your SOA if you want.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
  • TurnaroundSue
    • #7
    • 24th Feb 07, 7:17 PM
    • #7
    • 24th Feb 07, 7:17 PM
    Thanks everybody for their good advice.

    I have never been one to spend on clothes for myself, mainly for the children, but have now stopped buying them clothes as their wardrobes are choc-a-bloc and they really don't need anything else. Don't go out very often, usually once every 3/4 months and spend around 30. It just seems that even though we have a good disposable income, the money just goes!! Kids do have after school clubs etc and pocket money so that eats some of the monthly disposable income :rolleyes:

    We have never been in real debt and am fortunate not to have been in the position of alot of people on this forum. Having a mortgage for 45k will be the biggest mortgage I have ever had, but compared to today's world that is still quite small and manageable. We have always had to watch the pennies and bought things on interest free etc - never been able to go and pay for something outright, so not sure if it stems from there.

    Have gone onto confused.com as suggested, but they say I have an invalide postcode, (been here for 10 years and no problem with it before!) :confused: so need to phone them. Also have joined quidco, so hopefully can raise some funds through that. Thank you Chevalier

    Hi Beanilou - never really thought I needed to stick my SOA on this site, but maybe you have a point. It might be useful and it could be that all you people could see something I can't - will think about it, and maybe post soon.
    When you were born, you were crying and everyone around was smiling. Live your life so at the end, you're the one who is smiling and everyone around you is crying!
    • Sea78
    • By Sea78 24th Feb 07, 8:25 PM
    • 6,133 Posts
    • 8,484 Thanks
    Sea78
    • #8
    • 24th Feb 07, 8:25 PM
    • #8
    • 24th Feb 07, 8:25 PM
    Hi!

    I'd second putting a SOA up so that you can see what it's all going on and then also perhaps think of something you'd really like, as if you were saving hard for something, it may help to not feel like you have no money? I can understand where you're coming from as I'm obviously in a lot of debt, but have seen that in order to stay debt free once I'm oiut of debt (eventually!) I will have to carry on budgeting like crazy and save for all the little things like insurence etc that need to be paid.

    I think once i'm debt free I'll start saving as I'll see the money rising fast and it wil be a good motivation.

    Also, if the kids wardrobes are full, what are you doing with the outgrown clothes? Start ebaying, and use that fund as your special treat fund if you're feeling down, or even if you want to start over paying your mortgage etc.

    Sea xx
    CCCS DMP:Feb 07
    Total:37,016.470 DEBT FREE FEB 14
  • Kevicho
    • #9
    • 24th Feb 07, 8:31 PM
    • #9
    • 24th Feb 07, 8:31 PM
    You should keep a spending diary and do an soa, that will give you the answers yee seek (im ye olde MSE) lol
    • dancingfairy
    • By dancingfairy 24th Feb 07, 8:39 PM
    • 8,961 Posts
    • 7,344 Thanks
    dancingfairy
    Maybe it's because we're brought up in a consumer society and the message is everyone else is spending on this that and the other. Yes they are but they are also getting into debt for it likely.
    Feel proud of what you've achieved and when you see people buying this that or the other remember it's likely that either they've scrimped and saved for it or are just putting it on a credit card and who wants to live their lives in debt long after the original item has gone?
    Making my money go further with MSE
    How much can I save in 2012 challenge
    75/1200
  • TurnaroundSue
    Hi!

    I'd second putting a SOA up so that you can see what it's all going on and then also perhaps think of something you'd really like, as if you were saving hard for something, it may help to not feel like you have no money? I can understand where you're coming from as I'm obviously in a lot of debt, but have seen that in order to stay debt free once I'm oiut of debt (eventually!) I will have to carry on budgeting like crazy and save for all the little things like insurence etc that need to be paid.

    I think once i'm debt free I'll start saving as I'll see the money rising fast and it wil be a good motivation.

    Also, if the kids wardrobes are full, what are you doing with the outgrown clothes? Start ebaying, and use that fund as your special treat fund if you're feeling down, or even if you want to start over paying your mortgage etc.

    Sea xx
    by Sea78
    Thanks for that Sea - I give my DS's clothes to my friend for her DS and my DD's clothes to charity. I always think that by the time you pay your ebay costs for the smaller items then there is very liitle/no profit - and if you don't sell them then you still have to pay selling costs. Might be worth a thought to put a job lot in though.

    I do actually overpay on the mortgage at present, which is due to finish in 4 years time, however, with the extension and increase to our mortgage this will no longer be the case. However we are going to try and keep repayments a little higher so can pay it off in around 7 years, so still not too bad.

    I keep a separate account of all my outgoings and do my banking on a daily basis so I know where I stand to the penny - but will put up my SOA in another post (otherwise this will go on forever) and maybe you lovely people can help me and tell me where I am going wrong - maybe I am just c**p with money!!!

    Thank you all so much for your advice so far - I am extremely grateful
    When you were born, you were crying and everyone around was smiling. Live your life so at the end, you're the one who is smiling and everyone around you is crying!
  • TurnaroundSue
    I feel guilty now as I have just seen the signature of Sea78 and should jolly well think myself lucky (I do though, and that's what I can't understand - why do I feel like this). I do apologise - for all of this some of you people are in much worse financial position than me and are still there for me!! thank you, thank you, thank you! I am humbly grateful
    When you were born, you were crying and everyone around was smiling. Live your life so at the end, you're the one who is smiling and everyone around you is crying!
  • Kevicho
    I feel guilty now as I have just seen the signature of Sea78 and should jolly well think myself lucky (I do though, and that's what I can't understand - why do I feel like this). I do apologise - for all of this some of you people are in much worse financial position than me and are still there for me!! thank you, thank you, thank you! I am humbly grateful
    by TurnaroundSue
    Everyones situation is different and we dont prejudiced help here based on whether you are owing 10 pounds or 100000 pounds.

    Great board this
  • TurnaroundSue
    Everyones situation is different and we dont prejudiced help here based on whether you are owing 10 pounds or 100000 pounds.

    Great board this
    by Kevicho
    Aw! Kevicho - what a lovely thing to say - thank you so much - I love you all
    When you were born, you were crying and everyone around was smiling. Live your life so at the end, you're the one who is smiling and everyone around you is crying!
  • southern chick
    Everyones situation is different and we dont prejudiced help here based on whether you are owing 10 pounds or 100000 pounds.

    Great board this
    by Kevicho
    That really sums up this site, its brilliant to find so many supportive people in one place
    120 NSD in 2010 ----- 1/120
    Grocery Challenge of 80 a month ------ 40/80
    I pledge that in 2010 I will not spend any un-necessary money!!
    • Sea78
    • By Sea78 24th Feb 07, 9:12 PM
    • 6,133 Posts
    • 8,484 Thanks
    Sea78
    I feel guilty now as I have just seen the signature of Sea78 and should jolly well think myself lucky (I do though, and that's what I can't understand - why do I feel like this). I do apologise - for all of this some of you people are in much worse financial position than me and are still there for me!! thank you, thank you, thank you! I am humbly grateful
    by TurnaroundSue
    Don't feel guilty!
    Honestly, I too feel humbled by many of the stories on here when people have got themselves into debt 9larger and smaller than me due t horrendous cirsumstances. I did it through not thinking things through & living on 'full'wages when I was off on mat leave etc and generally spending too much

    Regards to the clothes - fill a wine box (ask local offy for one) and then list it all especially include photos of the more 'posh' ones (any designer or next, adams, gap etc) and give realistic postage (10-15) and then you'd be surprised at what does go. I felt like this about not making much, but some items have come out at maybe 20p profit, whereas others 1 but I've put it all on a spreadsheet including listing price, clsing price, paypal fees, postage and it gives me (I had to learn the forumla things from the net!!) a lovely little profit total. Also, after telling EVERYONE I was clearing 'clutter' on Ebay, a lot have given me things to sell, either to keep the profits, or split 50/50. Well worth it!

    Sea xxx
    CCCS DMP:Feb 07
    Total:37,016.470 DEBT FREE FEB 14
    • joeblack066
    • By joeblack066 24th Feb 07, 9:15 PM
    • 1,697 Posts
    • 1,787 Thanks
    joeblack066
    Definitely GREAT board, I feel so much more in control of things through this board, and this site, and that means I at long last sleep at night, which in turn makes my health condition better, so THANKYOU MSE!!
  • TurnaroundSue
    Okay - deep breath - here goes - my SOA:

    Monthly Income

    OH - Around 2k (basic only - sometimes overtime bumps it up)
    Mine - 600
    Child benefit - 162 (goes straight into another account for emergencies)

    Total - 2762

    Monthly Outgoings

    XMAS 100.00
    PETROL 200.00
    ALARM 4.75
    MORTGAGE 600.00 Overpayments by 300 pm
    GAS 35.00
    ELECTRICITY 50.00
    HOUSE INSURANCE 30.99
    FOOD 250.00
    TY HAFAN 4.34
    AOL 30.00 16 broadband, rest phone
    SAVINGS 150.00
    TEA FUND 10.00
    TV LICENCE 11.37
    COUNCIL TAX 95.00 Due to inc from 4/07
    WATER RATES 37.80 Due to inc from 4/07
    VODAFONE 25.00
    ONETEL 10.00
    SKY 43.50
    STANDARD LIFE 31.93
    LIFE INSURANCE 5.21
    CAR PAYMENT 170.00 (Interest 3.9% until 10/10)
    CAR INSURANCE 26.40 0% interest in instalments


    Total 1900.00 (approx)

    Thanks very much for any advice/tips you can help me with.
    When you were born, you were crying and everyone around was smiling. Live your life so at the end, you're the one who is smiling and everyone around you is crying!
    • The_Economist
    • By The_Economist 24th Feb 07, 9:22 PM
    • 600 Posts
    • 322 Thanks
    The_Economist
    I feel guilty now as I have just seen the signature of Sea78 and should jolly well think myself lucky (I do though, and that's what I can't understand - why do I feel like this). I do apologise - for all of this some of you people are in much worse financial position than me and are still there for me!! thank you, thank you, thank you! I am humbly grateful
    by TurnaroundSue
    I dont think you should feel guilty, because you have chose to live your life the way you have. Everybody has a choice, im not saying some one in debt is any less important than some one that has loads of dosh, we can all learn from each other.And as it has been said before this is the great thing about this site. Read, ask,disscus and learn.
    If i could i would, but i cannot so i wont, but maybe one day i will.
    • katecheshire
    • By katecheshire 24th Feb 07, 10:30 PM
    • 227 Posts
    • 153 Thanks
    katecheshire
    Your SOA looks pretty reasonable - it doesn't look as if you're are paying too much for your services etc and it makes sense to over pay the mortgage as you can afford it. BUT you have nothing down for:
    holidays
    clothes for all of you
    haircuts
    pocket money for kids
    kids' activities

    as chevalier suggests, do a spending diary for a couple of months so you can see where your money is going - it's obviously going somewhere
    I started doing one this month and it has been a great help. The fact that you know you are going to have to write it down makes you think before you spend!!
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