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Learning to be better with money

7 replies

PinguMugshot · 31/08/2023 17:18

I have a family member who is constantly needing bail-outs. I've generally been OK with doing this (she's a single mum and has had a hard time), but recently, I've discovered some of the reasons she's always so in need of cash, and have become less happy with it. It's stuff like ridiculous phone contracts, loads of fines for being late paying things, not applying in time for money she's owed, endless takeaways on credit card. It's not extravagance as such (although there's a bit of this), but seemingly a total inability to manage her money. How can people learn this? Are there courses to take? I do want to help, but it's getting ridiculous. TIA.

OP posts:
PinguMugshot · 31/08/2023 18:00

Shameless hopeful bump

OP posts:
NameChange96 · 31/08/2023 18:07

Tell her to check out Martin Lewis- Money Saving Expert website. I always use that whenever i need to move my credit card to get 0% apr etc. up to date financial advice. There is also a financial course on there to take

also, i use a spreadsheet to list all bills so i can see whats coming out.

i also save all year for things like christmas/birthdays, putting a little aside each month into savings via a standing order

its something she will just have to learn unfortunately, for some it doesn’t come naturally!

Happygirl79 · 31/08/2023 18:12

She may be depressed and spending to make herself temporarily feel good?

misssunshine4040 · 31/08/2023 18:17

Just stop giving bail outs and she will learn herself .
Being a single parent in this economy is absolutely shit so cut her some slack

Endofsummerisinsight · 31/08/2023 18:21

Christians against poverty can help her work out a better budget - she doesn’t have to be Christian and they’re not preachy. Martin Lewis is good too. I agree with PP you need to tell her that you can no longer afford to bail her out.

MrsMoastyToasty · 31/08/2023 18:35

Stop being her cashpoint.

Take her to CAB for debt advice.

PinguMugshot · 03/09/2023 09:42

Thank you all so much for the responses. I'm following up on the suggestions.
Yes @Happygirl79 you may be right there.

Christians against poverty, Martin Lewis, spreadsheets and CAB all sound like good places to start. And you're all right - bail outs are actually just perpetuating it...

Thank you again

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