To feel really proud of myself

[rwm92]

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 ☺️

Amazing, well done. It is a great feeling. I was like you a few years ago, constantly living in my overdraft and borrowing money to cover bills and day to day expenses. Had a bit of a lightbulb moment, got myself sorted (took a year or so for me mind) and now if I go into my overdraft, its the last couple of the days of the month, and by no more than £100 (a comfortable amount for me). I have one cashback credit card that I pay off each month and no other debt, and actually have savings for the first time in my life - at 43!!. Its such a better feeling!

That's a massive turnaround! Definitely should be proud of yourself.

Nicely done. Love a good spreadsheet.

keeping on top of finances is a great habit to get into.

'You didn't just save £75, you've changed your mindset, which is a very difficult thing to do.'

Exactly right. This is a whole new start for you. I used to be a disaster with money until I managed to turn it around many years ago. Life is just so much nicer and calmer now. Be very proud of yourself 👍

That's brilliant! And all the more impressive because you sorted it yourself - go you!

Well done, that's great! :)

Thanks everyone ☺️

You are right to be proud. Taking financial responsibility like this is an important part of taking control of your life.

Keep it up for a few months and a really nice Christmas for you and your kid(s) awaits.

Well done @rwm92 ! Can you bottle your mindset and sell it to me please
In all seriousness, any tips? Particularly in controlling the impulse spending?

I’ve been like this ever since I had a baby. I’ve wondered if it’s some kind of depression.
in February a financial decision I made 3 years ago paid off and I paid stuff off and was on an even keel.
it’s july. I’m back to square one and I can’t do it. I want to. I know my triggers.
I have another chance in February to start again but I have zero trust in myself to do it.
i really admire your turnaround. Well done. I hope I can do the same.

That’s a huge achievement-not just making it, but with a decent chunk to spare in your first month of trying-huge well done to you!!

Well done OP

I've just started listening to a money podcast called Rich Habits - it's worth a listen if you have time. They are very keen on the mindset change when it comes to money management. Moving away from a consumer mindset to a saving/investment mindset.

Sounds like you're really on the way to a good future for you and your children. Keep it up!

Love to read something like this. Well done OP and revel in that pride you feel! Huge accomplishment!