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How to stop spending money on sh*te

(13 Posts)
Tattersail Fri 05-Aug-16 12:54:32

Dp and myself went to see a financial advisor today and jn spite of us not having a massive income it does look very promising for us to buy a house in the next 6 months to 1 year.

The only problem is that both of us are guilty of excessive spending. Wee treats for the kids, for ourselves, tat, video games, takeaways. We also haven't budgeted properly for months.

I would like for us to get our ducks in a row before we approach this advisor with our bank statements and get the ball rolling but I don't know where to bloody start.

Has anyone got any advice or managed to turn a similar situation round themselves?

misscph1973 Fri 05-Aug-16 13:41:35

Start by working out what you actually spend money on. Keep all receipts and put all outgoings in a spreadsheet for a month. That in itself will help you, seeing the figures on paper will probably make you prioritise what you spend your money on.

cozietoesie Fri 05-Aug-16 13:51:53

Do you suspect why you're buying stuff like this? And what does your DP think about money? smile

lovelyupnorth Fri 05-Aug-16 19:13:33

Meal plan. Get a diary and write every purchase down

Get yourself on to money saving expert .com debt free wannabe and they give you loads of tips.

Oh and stop buying shite the kids don't want or need it and would be much happier with quality time.

Tattersail Sat 06-Aug-16 08:45:32

I'd suspect a lot of it is laziness. We make meal plans and I buy stuff to make food for my work and then end up buying convenience food, although I have reigned that in a lot in the last month or so.

My DP is pretty rubbish with money and I am the main earner anyway so a lot of the stuff to do with our budget falls to me anyway.

That's a good idea about the diary. I'm sure I've got one knocking around that I could use to track our purchases

lljkk Sat 06-Aug-16 09:48:23

Do not buy anything.
Well, obviously you have to buy some things. But your default position is "Do not spend". Only spend for items that are the list you made in advance at home before you went out, or items that you need immediately there and then.
Bring a packed lunch to work every day!
Again, it's about habits. Once you have the habit, easy enough to keep it.

MovingOnUpMovingOnOut Sat 06-Aug-16 09:53:12

Take out cash at the beginning of the week that is to be used for everything.

Once it's gone that's it. No more cash until the next week.

It's remarkable how this focuses the mind on all the crap you spend but also stops you spending. I did this with spendthrift dh before we got together. Saved enough to pay off his debts.

One thing I also do, is that every time I don't buy something I want (hair cut, clothes, make up, take away, wine etc etc) I put what I would have spent in a savings account. Amazing how quickly it builds up. And shameful!

TeaRexit Sat 06-Aug-16 09:57:16

Dont keep a diary as thats just another month of spending ahead of you.

Instead look back at bank statements for the last 3 months & add up all non essential spending.

Look at your income, work out your essential outgoings that are regular, mortgage, council tax water, etc.

See whats left, ie: £600 left.
Allocate £50 a week for food shopping. (I put mine in a seperate account) =£200
£50 each for petrol =. £100

Then you would have £300 a month left to save.

wobblywonderwoman Sat 06-Aug-16 10:03:28

I think you need to cook a lot of meals (got to aldi) and freeze them so you still have than convenience

Make one night a week pasta and pesto

I even freeze mash so I might just have to cook sausages and peas one night.

I think staying out of the supermarket reduces most of my wasted money. So I buy plenty on a Wednesday and then just get bread and milk on a Sunday

Theydontknowweknowtheyknow Sat 06-Aug-16 10:08:13

I write all my expenditures on a whiteboard. At the end of the week I total them up and put the figure at the top of the board.

Then next week I try to "beat" myself by spending less than "last week me".

Whataboutwhathuh Sat 06-Aug-16 10:09:38

Budget. Have an amount for discretionary spends but when it is gone it is gone. Add up how much you spent on that sort of thing and multiply it by 12. That should be a good wake up!

Having a good budget and putting all of your money to work will help, if you know that all your money is allocated it should help. Allocate some to fun / takeaway / pocket money and stop when you reach that. Then you can decrease those slowly as you get used to it. You need a budget does a thirty day free trial and it has lots of information on how and why to budget. It'll help you see what you have and what you spend.

Definitely go through last month and work out what you spent. Make a house a priority over filling up your home with things.

Tattersail Sat 06-Aug-16 10:28:40

Well we sat this morning and went through our bank statements for the last couple of months. The amount we're spending on non essentials is shameful!

I have banned myself from at least 3 shops for the forseeable future. I'll be taking packed lunches to work and only paying for my travel.

I'm about to go through all our outgoings and incoming to see what we can potentially save, then we'll need to sit down with the calendar and organise a meal plan and arrange shopping days

BarbaraofSeville Sun 07-Aug-16 09:31:10

Er, just stop buying stuff? Make your default position 'do not spend' Stop going to the shops and do other things instead. Cancel all your emails from online shops. Have a look at this on Moneysavingexpert.

Wee treats for the kids, for ourselves, tat, video games, takeaways

You must have loads of tat, video games etc. How about putting your energies into having a big clear out instead - you might find things you can sell and if you have less stuff it will make it easier to move. Once you are in decluttering mode, you might find you don't want to undo your efforts by buying more crap.

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