Money saving advice. Dont want to get ride of credit cards

[slartybartfast]

We could have debt management programe. am nervous of getting rid of cards. So I am shelving that idea for the time being.

In order to try and make inroads:

So far I am writing down everything penny I spend - this month at least.

What do I do with this information though?

[specialsubject]

you look at what you have bought that you don't need, and what you could have paid less for.

former category can include; adult clothes (you have plenty, almost everyone does), books (use a library), magazines (never!), takeaway coffees/snacks (never), pester-power toys (never), branded food (own-brand is almost always the same) etc. Latter includes utilities, insurance, household goods.

also look at food waste - there should be none except peelings and tea bags.

(BTW you may already be doing all this!)

there's no need to get rid of credit cards but they must always be paid off in full when used. This may have to wait until you have cleared the balance but in future, see the CC as just another way of paying and never buy what you can't afford to clear by the deadline.

[slartybartfast]

thanks for responding.
so when I write down should i tape receipts to my list?

pester power, now that is another thread.

[specialsubject]

I tend to keep receipts until I've seen the purchase appear on my online banking - but I may be excessive in that!! (I do keep receipts for big items as guarantees).

I'll leave the pester power to you.

[Mum4Fergus]

Join us in the Debt Support thread in Money Matters...

[everythingsgoingsouth]

Hiya, filling out an honest Statement of Affairs is often a good start.

www.stoozing.com/calculator/soa.php


Root out all your paperwork for all the debts to get the necessary info (APR's etc)


have a good old de-clutter of the house, sell everything no longer needed or used.


make a list of all foodstuff in fridge/ freezer and cupboards and make a meal plan using as much of it up as possible.


go through the SOA when finished and for each amount of incomings ask can it be increased, and every outgoing, can it be got rid of/ reduced in any way.

what do you use the cards for? if its just in case of emergency, then put them in a safe place at home, don't take them out with you, then temptation is gone.

otherwise, if you use them regularly, pay off full balance each month. have a look at what they are costing you in interest

[slartybartfast]

thank you for further info.

[MsAspreyDiamonds]

www.moneysavingexpert.com/

Have a look at this website for money saving tips.