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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To feel really proud of myself

38 replies

rwm92 · 26/07/2023 20:36

I'm a single mum and a (reformed?) financial disaster. I had a chaotic childhood and was never shown how to manage money. I would impulse spend. I would run out of money halway through the month and have to borrow off family which was humiliating and I hated myself for it but couldn't stop the cycle. Last month, I decided enough was enough. I didn't want to live like this anymore and I wanted to be a good example to my children. I made a money spreadsheet, I didn't buy anything we didn't need, I only did free things or things that were very cheap. Controlling my impulse spending was hard but I found that I also got a similar buzz from sticking to a budget and checking my bank each night and seeing there was still money in there and I didn't have to worry. All bills paid and plenty of food. I even had £75 leftover at the end of the month which I have put in to a savings account. Just feeling really pleased ☺️

OP posts:
LuvMyBoyz · 26/07/2023 20:38

Wow! That’s a big turnaround for you. Well done. I’d be proud, too.

Seasideanticscanleadtosandybuckets · 26/07/2023 20:38

Well blooming done op! Is so good for the mh being a bit more organised ime!

reallypuzzledoverthis · 26/07/2023 20:38

A massive well done to you, I’m trying to do similar but failing miserably! Are you planning a treat with your £75?

Dowhatshard · 26/07/2023 20:43

Well done. Keep going! Interesting you are getting a similar buzz from budgeting as you did from spending and now you are saving. This is the best thing I’ve read on MN today.

StartSWagaintomorrow · 26/07/2023 20:44

👏 I’m like you and just started taking stock and budgeting better. It is satisfying.

DaffyDaydream · 26/07/2023 20:45

Well done! That’s a real achievement.

Purplepjs · 26/07/2023 20:46

That is really impressive. You have every right to feel proud.

Crikeyisthatthetime · 26/07/2023 20:47

Blooming well done OP!

ThatshallotBaby · 26/07/2023 20:48

That’s brilliant! So well done, it’s such a good feeling changing from bad to good habits. Good for you!!

Aquamarine1029 · 26/07/2023 20:48

Op, this really is a massive achievement. You didn't just save £75, you've changed your mindset, which is a very difficult thing to do. Well done and keep saving.

UpaladderwatchingTV · 26/07/2023 20:49

That's FANTASTIC news OP! Congratulations! The challenge now is to keep doing it. Maybe set yourself a target for how much you would like to have in your savings account at the end of 3 months, initially. Then perhaps 6 months, and then move on to 1 year. As the months roll by, and you see your savings increase, you will realise how nice it is to have that buffer, in case of an unexpected bill. Whatever you do, as a previous poster said please DON'T treat yourself with the money you have saved, as otherwise you'll just be continuing the bad habits of spending every penny, and not having anything in reserve. Do come back next month and tell us if you've managed to stay on the straight and narrow, and believe me, it really won't take long for you to see the ongoing benefits of being able to have a few quid extra in the bank at the end of the month.

Original poster
rwm92 · 26/07/2023 21:13

Thank you 😊 I will keep checking in here to hold myself accountable!

OP posts:
Grapewrath · 26/07/2023 21:54

That’s great OP! Makes me Hope I can do the same :)

Olika · 26/07/2023 22:16

Wow that is amazing!!! Well done! Flowers

Gloriousgardener11 · 26/07/2023 22:21

Well done you, keep this up so it becomes a habit and in no time you’ll have a nice amount saved and show your children how to manage money.
Its hard earned and easily spent unfortunately!

Cactuslove · 26/07/2023 22:28

That is such a nice thing to read. Don't want to assumptions OP but I'm also a single mum... I'm on UC. Anyway I opened a help to save account offered via hmrc app due to UC. You can save up to £50 every month and the government then contribute half the amount too. You can hold the account for 4 yrs I think. Anyway don't want to make it seem like all single parents are on UC... but if you are or others on this thread are... its a brilliant account to help you save 👍

user64827777 · 26/07/2023 23:14

Bloody well done OP!!

PearlsaSwinger · 27/07/2023 07:14

Well done!

BarbaraofSeville · 27/07/2023 07:37

That's amazing, well done. Keep up with it and your savings will snowball.

There will be some bumps in the road when irregular expenses come up like Christmas, your washing machine breaks, school uniforms etc but the big difference will be that you will just be able to pay for these things from your savings without worrying, which is such a life changing relief if you're used to struggling.

Definitely open the Help to Save account if you're eligible and also do build up some small treats into your budget, eg £25 from the £75 you have spare this month so you feel like you can have some nice things while still saving most of your spare money.

80skid · 27/07/2023 07:38

You are right to be proud of yourself!!! Well done, I wish you financial security and hopefully that will afford you more freedoms in the future too!!!

Original poster
rwm92 · 27/07/2023 08:08

Thank you 😊 I feel like I have my pride back which is amazing. It was so humiliating having to borrow money off people all the time and of course, you are then in the cycle of having to pay back all the time too and being left with nothing the next month and the cycle continues. I will keep adding to my savings account. It has really surprised me how little money you need to spend to be happy.

OP posts:
Babymamaroon · 27/07/2023 08:48

Well done you! That's an amazing result and you can believe in yourself!

She said she would, so she did ⭐️

RightOnTheEdge · 27/07/2023 08:52

Well done OP! 👏
You have every right to be proud of yourself. Keep going! 🌟

hippoherostandinghere · 27/07/2023 08:58

Well done OP, that's amazing! Such a great feeling.
I'm very similar, same background and used to scraping through to payday with next to nothing in my bank.
I started using YNAB about a year ago and it's my pay day today. Last night I had £450 in my Current account and £700 in my savings account and I'm bloody proud of myself! It's been a game changer for me and I'm saving towards future expenses in a way I never would have before.
You've got this.

WhamBamThankU · 27/07/2023 09:02

Well done OP Smile

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