I need some help with saving please.

[justtired]

I really need to start saving money, it makes me feel sick when I think of having no money but then I go and splurge again, it makes me feel good for a little while then I feel guilty again

I did work out recently, that after paying out all DD debits, bills etc. I should have £200 a week to live on for me, Dp and 2 kids. This includes all shopping, petrol, afterschool clubs and anything else.
Is it possible to spend less and save some money. We have a holiday coming up with no spending money, my youngest Ds will be starting nursery soon which we need to fund and my Dp might lose his job in a few months and if anything went wrong with the car or something I dont know what I would do.

please can anyone help with any advice or tips.

Many thanks

[Mum2Fergus]

Set up a standing order to a savings ac to come out the day/s you and DH get paid...consider it another bill! I used to try to save what I had left at end of month but putting it away as soon as you get it works much better.

[justtired]

that sounds a great idea, I do always think, I will put some away but it never seems to happen

[Alibabaandthe40nappies]

Does that have to cover things like Christmas and birthdays as well?

I would do what Mum2 says and put some aside at the beginning of the month.

Can you reduce your bills and other direct debits at all to free up some more money?

[BackforGood]

I was going to post the same as Mum2Fergus.
It's more of a decision to 'withdraw money from the savings account' to spend on something, than to just get a bit more out the current account.

[justtired]

yes it includes everything other than monthly bills. will definitely do that then, what do you think is a realistic amount a month?

I have had a look and cant see any I can reduce at the moment apart from maybe electric and gas but I worry about swapping and ending up worse off.

[AdoraBell]

The amount depends on you and your needs, it won't be the same as another family, IYSWIM. Try working out how much spending money you'll need for the holiday and break that down into pay days, see if that figure feels realistic to you. If so, start with that amount and see how things work out.

Then look at costs for things like Christmas and birthdays. Do you have a budget for gifts or just buy what you see?

[specialsubject]

basically stop buying anything except essentials. That is food, outgrown clothes, replacement clothes that are REALLY needed, household bills and transport.

as things are tight, stop buying presents for everyone. Give home made things, gifts of time etc.

Christmas is not essential.

[LadyKooKoo]

Post a list of everything you currently pay by DD/SO and we will see if you can reduce costs on it. How much of the £200 p/w are you spending on fuel and food? Do you have any debts?

Definitely save at the beginning of the month though, I have a SO set up for DD, Christmas, House, Contingency and Holiday and the money is sent to those on pay day. I would hate taking money out of them but it would be easy for it to just deplete if left in the current account.

[FoxyM]

Have you looked to see if you can save any money on your bills? We have recently changed our bills to Utility Warehouse and they are cheaper than our previous company. We also got a cashback card and we can get 5% cashback or sometimes more on high street shopping which we would do anyway so that makes our bills even cheaper. Have a look at the website for more information.

www.utilitywarehouse.org.uk/K96956