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    • Rebecca01
    • By Rebecca01 4th Jan 18, 10:37 AM
    • 659Posts
    • 996Thanks
    How to stop spending?
    • #1
    • 4th Jan 18, 10:37 AM
    How to stop spending? 4th Jan 18 at 10:37 AM
    How do you just stop spending?

    I have read Martins Mantra. I have spending diaries and goals.

    But I just cant seem to stop wasting money.

    My money goes on takeaways, amazon, and just stuff that I do use but could live without.

    Anyone got any tips for how they cut the rubbish out?
Page 1
    • poppasmurf_bewdley
    • By poppasmurf_bewdley 4th Jan 18, 11:02 AM
    • 5,209 Posts
    • 5,329 Thanks
    • #2
    • 4th Jan 18, 11:02 AM
    • #2
    • 4th Jan 18, 11:02 AM
    How do you just stop spending?

    I have read Martins Mantra. I have spending diaries and goals.

    But I just cant seem to stop wasting money.

    My money goes on takeaways, amazon, and just stuff that I do use but could live without.

    Anyone got any tips for how they cut the rubbish out?
    Originally posted by Rebecca01
    It is quite simple really.

    You say to yourself "I do not need to buy this."

    It's called self control, and is quite easy to master once you get into the mindset of moneysaving.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
    • MEM62
    • By MEM62 4th Jan 18, 11:02 AM
    • 1,610 Posts
    • 1,231 Thanks
    • #3
    • 4th Jan 18, 11:02 AM
    • #3
    • 4th Jan 18, 11:02 AM
    How do you just stop spending?
    Originally posted by Rebecca01

    It is called self-control. You either exercise or you don't. There's no magical solution - only a choice.
    • Fireflyaway
    • By Fireflyaway 4th Jan 18, 11:04 AM
    • 1,824 Posts
    • 1,971 Thanks
    • #4
    • 4th Jan 18, 11:04 AM
    • #4
    • 4th Jan 18, 11:04 AM
    I used to waste money on food and takeaway coffee etc but now it actually annoys me! Until you get to that stage, maybe move to using cash for everything? I have my pay paid into a savings account. I can withdraw cash at the machine but it won't work for purchases. Of course I transfer money from there to a ' bills' account where everything is paid by direct debit but what's left in the ' savings' is mine to spend.
    The other tip is to work out what you have to spend and divide into 4 plastic envelopes one for each week.
    Do you do a budget? You should know how much spending money you have so you don't go over.
    I try to think that every purchase I don't need is just delaying debt repayments.
    • S1984
    • By S1984 4th Jan 18, 11:08 AM
    • 30 Posts
    • 12 Thanks
    • #5
    • 4th Jan 18, 11:08 AM
    • #5
    • 4th Jan 18, 11:08 AM
    I got a couple of apps on my phone which am using this year which seem quite impactful.

    Ipon: 52 week saving challenge
    Bucket: Lets you add an amount , a goal and saving towards a target
    Yolt: Breaks down your bank transactions to what you spend and waste on

    The reason I got these was because I significantly need to stop wasting money and it needs to go to paying off my HUGE debts!!!!! It was impactful to me to see where money was going.....a lunch here, a coffee there and really made me think about how the lack of care and attention with plastic cards has got me into this mess

    So for me (a person that has limited self control) the apps are useful

    The 52 week saving challenge is fun - although I won't save as much I can add 50% or even less. £1 here, £2 there

    What i do is when I think....I fancy a costa coffee (4.20) - I am making a coffee and putting a £1 in a pot or £2 in a pot

    The end result should be a significant reduction in my debts over the years, a debt free future and the small amounts I save I can treat at some point during the year. Even if its something simple like a meal out or a nice bottle of wine

    Hope these help
    • fatrab
    • By fatrab 4th Jan 18, 2:15 PM
    • 852 Posts
    • 2,236 Thanks
    • #6
    • 4th Jan 18, 2:15 PM
    • #6
    • 4th Jan 18, 2:15 PM
    Where do you want to be in 1, 5 or 10 years time?

    I decided that in 5 years time I want to be debt free. So I made a plan, I thought about what I want and why I want it, and created a realistic set of targets.

    From now on, every time I am about to spend money on anything I will ask myself - Is this in the plan?

    Maybe you need to ask yourself what's in your plan.

    Self discipline is not easy. My spending diary is enough to help me control my frivolous spending.

    Good luck
    You can have results or excuses, but not both - Wannabe debt free by Dec 2022
    June's targets - Be 15st by end of month, 19/30 AFDs
    39 x £2 coins (#32)
    • -taff
    • By -taff 4th Jan 18, 2:29 PM
    • 7,420 Posts
    • 5,493 Thanks
    • #7
    • 4th Jan 18, 2:29 PM
    • #7
    • 4th Jan 18, 2:29 PM
    Add what you spent last month up, times it by 12 to see how much you waste every year. Be horrified.
    Crack open your store of self discipline
    • Ilona
    • By Ilona 4th Jan 18, 2:39 PM
    • 2,085 Posts
    • 7,150 Thanks
    • #8
    • 4th Jan 18, 2:39 PM
    • #8
    • 4th Jan 18, 2:39 PM
    Discipline. I stopped spending when I was in my mid fifties, I cut my working hours down to the minimum I needed to earn enough to pay for the most basic living costs. I literally stopped dead. The only things I paid for was mortgage, utilities, council tax, car running costs (I cut down on journeys, walked a lot), and the basic food I needed to survive.

    Not to have to work long hours in a job I was not enjoying was a weight off my shoulders. I converted to yellow sticker shopping, foraged the hedgerows for food, and started growing my own vegetables. I kept busy to distract myself from running to the shops.

    I worked out the difference between what I needed and what I wanted, and knew that I couldn't have everything I want.

    I retired at 60 on a state pension, and by being a frugal skinflint superscrimper tightwad I managed to save enough to pay off my mortgage early.

    If you don't trust yourself with cards, only spend cash. When your monthly allowance is gone, it's gone. Look at why you spend, is it to give yourself a boost? Think about how you can distract yourself from spending. Good luck.

    I love skip diving
    • phizzimum
    • By phizzimum 4th Jan 18, 4:04 PM
    • 1,697 Posts
    • 9,247 Thanks
    • #9
    • 4th Jan 18, 4:04 PM
    • #9
    • 4th Jan 18, 4:04 PM
    Try to think about what triggers your spending

    For some itís boredom, for others itís feeling sad, or a way of procrastinating. Do you get takeaways because you come home late from work or because you feel you deserve a treat or perhaps because youíre not confident cooking? Do you find yourself browsing Amazon or looking round shops as a recreational activity?

    If you can work out what your triggers are you can start to find ways to avoid those situations.
    weaving through the chaos...
    • datlex
    • By datlex 4th Jan 18, 5:59 PM
    • 1,661 Posts
    • 1,553 Thanks
    Use the tomorrow trick. i.e. I will wait until tomorrow before buying that.
    • CapricornLass
    • By CapricornLass 4th Jan 18, 6:04 PM
    • 153 Posts
    • 503 Thanks
    Hiya - a couple of suggestions -

    Its worth keeping a few quick meals in the freezer/something you can make quickly from what you have in your storecupboard, for those days when you are too pooped to cook. I'm thinking along the lines of pizza, shepherd's pie, bolognaise sauce. Then when you think about a takeway because you're too tired/don't fancy cooking, you can just dig it out of the freezer and sling it in the oven, rather than reaching for the phone.

    Browsing on Amazon is more difficult. As Phizzimum says, are you using this to fill your time? What about doing things like knitting, or sewing or reading, or inviting a friend round in the evening for a chat and a coffee instead? (if you are a knitter/sewer/crafter, perhaps you could start thinking of making things to give as Christmas/birthday presents!)

    The only other thing I can think of if you really can't give up looking at Amazon is to put the things you've selected into a wish-list/basket, and then leave it for 24 hrs before you go ahead and press the Buy Now button. It at lease gives you a second chance to consider whether you really want that item after all.
    Sealed Pot Challenge no 265.
    • Lottebear
    • By Lottebear 4th Jan 18, 7:31 PM
    • 783 Posts
    • 3,597 Thanks
    There are apps and accounts you can sign up for to pause spending and give you time to have a think this allows you to window shop and not spend.

    The other trick is only taking enough cash with for what you intend to buy i.e the pint of milk etc..
    • Ladykernow
    • By Ladykernow 4th Jan 18, 7:33 PM
    • 245 Posts
    • 848 Thanks
    You need to be ruthless and really think about something before you buy it.
    Dec 2017 - Dec 2018 ~ Save £5000 £404/£5000
    • Puddylove
    • By Puddylove 4th Jan 18, 10:20 PM
    • 488 Posts
    • 792 Thanks
    1. Calculate how many hours you have to work to pay for an item.
    This may only be an effective deterrent if you don't earn much and/or don't like your job.

    2. Have a 'one in, one out' policy where for each new thing you buy, you have to sell, get rid of one thing. Good for clothes, books, etc.

    3. Wait 24 to 48 hrs before buying an item to be sure you want it.
    • katiepoppycat
    • By katiepoppycat 5th Jan 18, 8:02 AM
    • 1,620 Posts
    • 1,606 Thanks
    I use the proceeds from online surveys to feed my amazon habit.
    • fatrab
    • By fatrab 5th Jan 18, 8:09 AM
    • 852 Posts
    • 2,236 Thanks
    I really like the "wait 24 hour" rule, I'm definitely taking that on board!
    You can have results or excuses, but not both - Wannabe debt free by Dec 2022
    June's targets - Be 15st by end of month, 19/30 AFDs
    39 x £2 coins (#32)
    • NineDeuce
    • By NineDeuce 5th Jan 18, 8:47 AM
    • 827 Posts
    • 766 Thanks
    In other words: -

    "I have a problem. I know what it is and how to stop it. Can somebody tell me how to stop it".

    Errr.. you just stop it....
    • enjoyyourshoes
    • By enjoyyourshoes 5th Jan 18, 11:34 AM
    • 1,061 Posts
    • 1,302 Thanks
    A £3.50 saving per day:-

    (1/2 pack fags, pint half beer, coffee and croissant at Starbucks)

    paid into an UK average sized mortgage at 3% interest will save you

    £11,080 in interest charges and you will pay the mortgage off 6 years 7 months earlier.
    Debt is a symptom, solve the problem.
    • Working Mum
    • By Working Mum 5th Jan 18, 1:09 PM
    • 136 Posts
    • 526 Thanks
    Working Mum
    1. spending diary
    2. weekly budget taken in cash for food, fuel, socialising
    3. know my hourly rate and work out how many hours work to buy
    4. no shopping apps on my phone
    5. cash only rule
    6. big audacious goal to be debt free in 5 years
    7. desire to set a good example to my children as how to manage money
    8. do an inventory of everything I have so I buy what I need
    9. stay hydrated so don't buy because of hunger
    10 stay engaged with whatever current activity is so i don't buy things because I am bored
    11. recognise this is a marathon and not a sprint and there is no magic's all down to me
    12 have fun looking for quirky, ingenious ways to make my budget stretch further
    13. follow diaries on here to stay motivated
    14. believe I am worth being debt free and the freedom it brings
    15. contextualise most big spends the way enjoyyourshoe's has done - great for seeing the bigger picture!!

    Hope this helps
    • pennystretcher
    • By pennystretcher 11th Jan 18, 11:47 PM
    • 389 Posts
    • 1,449 Thanks
    Remove your card/payment details from Amazon etc, makes you think twice before placing that order when you have to dig out the card.
    Mortgage free
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