Permabanned
I am on a spending freeze this year. No holidays away and no new gadgets. Goal is to pay off debts and reach zero by end of year.
Spending money/buying things bug...
- Thread starter craig_t
- Start date
Soldato
G'Luck! Debt is the horrible, I too wish to be debt free one day...
Yep, but after a month you'll probably have spent at least £30 less after going 'Oh **** I spend how much on coffees??'
Worth a try I think, I'm much more conscious of the cumulative spending than I was before when it was all one 'pot' and looked like a big number.
Does this mean, if I need to I can access it.. It's just not as simple as it being in my current account?
I tend not to buy cheap, for this very reason although if I can get something second hand I often opt for it as long as it's not some boxer shorts... EG the graphics card I have now is second hand. It works fine, isn't too old and it meant I got better spec for my money is how I look at it. I wouldn't however buy a chinese copy of something because it's cheaper...
I wouldn't say well off, it sounds better than it is. My high wage vs living alone has it's downfalls... If there was a second income, I would probably say I could sit in that position.
Or, try this. Make a list of all your wants. Split them into high value and low value. Set little challenges for yourself, like dont spend anything or splurge for a week or 2. Then choose something from the list and treat yourself?
Just an idea!
I guess this is a good idea to work on...
It's funny you say this, that's how I look at it too but... I do fight with myself to say I want you dont need I want you don't need even when I look at it like the above.
I'd love to go traveling, but what about my mortgage.... I don't have as much money spare as you may think.
Thankfully I don't have debt sitting on me and never have. It is something that I hope I never get into too as I know it's not a nice place to be. This is, essentially my point of this post. I want to get to X amount so I know that I can comfortably continue on for 6 - 12 month if I lost my job and struggled to find another without ending up in debt.
I guess, but I was hoping to get the same from this post and I have quite a few things in my head now of what I need to do. I need to plan my month ahead better I think.
Associate
You could still access it in an emergency, you would just be penalised for taking the money out early by losing some of the interest payment, which is an incentive to leave the money there in normal circumstances.
Caporegime
Got paid today, all outgoings sorted, and I'm looking at a new case I don't need.
It's only £60, but then I plan to move at the end of the month, so should be saving money for deposit...
It's only £60, but then I plan to move at the end of the month, so should be saving money for deposit...
Associate
Soldato
Sounds like you need more discipline and willpower, and budgeting will help towards this.
Or as have been suggested, a wife and family. That way you don't have to worry about any disposable income.
Or as have been suggested, a wife and family. That way you don't have to worry about any disposable income.
How am I treating my car more imortantly than houses? I have a house which I live in, it needs zero repair work done to it and I manage to easily pay my bills. I have some renovation work planned, which the funds are set aside for. I just like to have my car looking how I want it and my computer performing how I want...?
I'll go for option 1
just buy 4 Titan X and be done with it
Tell me more...
Soldato
- Joined
- 24 Sep 2007
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Swap takeaways for M&S Microwave meals. Much cheaper and they taste nice. If you really want to save money, buy microwave meals from Lidl at £1.50 per meal.
Caporegime
Yep, I find this also.
Soldato
Just cover your normal outgoings and save the rest.
Every time you save 5000 you can spend 1000.
When you hit 20000 savings (the first time) you can spend 5000.
Total spend on goodies = 10000
Total saved = 15000
Now put the 15000 away and rinse/repeat.
Every time you save 5000 you can spend 1000.
When you hit 20000 savings (the first time) you can spend 5000.
Total spend on goodies = 10000
Total saved = 15000
Now put the 15000 away and rinse/repeat.
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Yep. I have no idea how I survived at Uni.
I have a habit of just spending money because it's there too. I counter it by carving a large chunk of my disposable income into a savings account automatically the day after payday. That keeps my bank balance down so at no point do I see it and think I've got money to burn.
Except most of us can't plan more than a month into the future.
You sound like you are doing good enough and genuninely can afford to do these things. If you achieved 60% of your savings target then I am struggling to see the issue. If you enjoy spending money on your hobbies then why not? Just make sure you put some away.
You're 23 with a house, car and by the sounds of it well paid job. Live your life a little at this age but just be sure to buckle down at some point. I'm 27, rent, have a car and save less than £300 a month. This is because I love going out all the time and spending money on things I enjoy. The moment I get in a serious relationship and have children this will all change.
You're 23 with a house, car and by the sounds of it well paid job. Live your life a little at this age but just be sure to buckle down at some point. I'm 27, rent, have a car and save less than £300 a month. This is because I love going out all the time and spending money on things I enjoy. The moment I get in a serious relationship and have children this will all change.
Soldato
I have all my outgoings on a spreadsheet. I have two houses so they have a page each and my own personal finances has a page and then a fourth page where they all come together. After bills, food, fuel, savings etc I have a weekly amount of free spending money.
My biggest downfall is RC cars. I'll buy kits that may or may not get built. I'll spend on parts for my race cars which are highly unlikely to improve my driving and I've recently bought a tank which will serve absolutely no purpose than keep dust off the shelf - and that's only if I ever get round to building it
My biggest downfall is RC cars. I'll buy kits that may or may not get built. I'll spend on parts for my race cars which are highly unlikely to improve my driving and I've recently bought a tank which will serve absolutely no purpose than keep dust off the shelf - and that's only if I ever get round to building it
Soldato
And loads of you will eventually learn that you have to master the present, if you want to be prepared for fortune in the future.
Anyone can save on a monthly basis, of course it depends on how much you earn for how much you can save, but you just have to get used to saving some of your earnings*.
*and not spending any of it until you can afford to without really denting your savings.