I am a spendthrift; help tame me!

[toptramp]

I am a single mum on low income and unfortunately I am a spendthrift. If I have money I find something to spend it on. A big vice is clothes. i love them and although I can't afford designer labels I like to keep up with trends and look good. I also have highlights which I do get on the cheap (£45 for highlights, cut and blowdry) but I'm tempted to go brunette soon.
I also just like nice things (don't we all). I did inherit a large amout of furniture from my gran which really helped and is lovely to keep in the family.
Plus all the bills. I do work with tax credits to top it up but I want to start saving.
I don't think I could cope without my fashion fix but might have to try to wean myself off. What to do?

Sort through your clothes and eBay the ones you haven't worn in the past 12 months. Then operate a 1-in, 1-out policy so you don't add to your wardrobe, you just decide what needs changing and replace it.

When you get paid, add up everything you know you will need to pay for in the coming month and move that amount into a savings account e.g.

• rent/mortgage
• insurance (home, car etc.)
• food
• household items (bleach, loo roll etc.)
• petrol
• childcare
• money for DC's activities
• mobile phone
• TV license
• internet/phone/TV package
• gym membership
• credit card payment
• DCs' saving accounts
• socialising money

Write down what the money is for and the dates you will need it and only move it back into your current account the day you're going to spend it (day before for direct debits and standing orders). This is so easy to do via internet banking.

Then you'll be able to see how much you have left over i.e. your disposable income. Decide how much you want to put into savings and use it to open a fixed term savings bond for 6 or 12 months, interest paid annually. Again, super-easy to do via internet banking. Your savings money is now locked away for 6 months (you can get it out early in an emergency situation but you will pay a penalty fee) so you can't be tempted to withdraw it to spend on frivolous things. Repeat the next month so you end up with 6 or 12 fixed-term bonds, one maturing each month. When the first one matures, top up with your usual savings amount and reinvest the same day in a new bond.

I do all of the above and it really works. What I need to spend is safely in a savings account so I can't accidentally spend it and what's left over is mine to do what I like with without feeling guilty. I have six 6-month bonds which I top up as they mature and I now have quite a considerable sum of money in savings, which will be fab for maternity leave coming up :)

CAsh is working well for us, I take out a set amount for the week, and that is it, it makes such a difference to see money physically go out of your purse rather than use a card. So all bills are DD's and I know exactly how much is going out every month, work out how much you have left over, how much you think you are going to need and take out that amount, if we haven't used all the money, it goes into a savings account, any left over at the month you could save half and have half for treats.

Hi there; thanks for the advice so far. I will have to give myself a firm talking to.
Things I can't do without;
Decent moisturiser (although I do often use the cheaper brands such as Olay which is a fiver) I do sometimes splash out on protect and perfect.
Healthy food (i do often look in the special offer sections / smart price stuff for discounted fruit, veg and meat and I cook my own.)
The occasional night out (trying to cut down/give up booze so this should help.)
Stuff for dd (I am trying to put my foot down more and not cave into pressure to buy frivolous stuff for her.)
Books.
Newspapers and magazines (I am trying to look online more.)

Get to your local library.
Lidl/Aldi, meat is good and cheap as is their veg, I buy there and my local market. We hardly ever buy processed stuff.
Put your foot down but maybe have a small treat a week or a bigger one once a month, DC's used to get a magazine a week but it is plastic tat and we have said no.
Trawl the S&B boards as they usually have good tips for cheap moisturiser.

I'm going to suggest that, whatever else you do, set up a standing order to a postal savings account with a long notice period that leaves your account the day after you get paid. Then budget your way around the rest. By 'paying yourself first' you will not miss the money and, because it isn't easily accessible, it won't burn a hole in your pocket.

Try aldi for the basics, I buy my meat in the local supermarket when it's marked down, milk too. It's a small branch and seems to always have meat joints on offer and loads more.

Use quidco/topcashback for EVERYTHING you buy online, I found the cheapest place for lots of things isnt amazon but smaller retailers, then I get 7% cash back, sometimes less/more but it all adds up.

I park in the free side road parking for half an hour when I go into town, it saves me £2 and you get fit walking in and out quickly.

I always take water bottles with me and snacks in case I get hungry while out, pack of crisps in the car can be a lifesaver.

I buy nice clothes off ebay, I got an All Saints shirt for £7 the other day.

Just work out a budget for everything. Some things are fixed rate, others are flexible. It's fine to buy basics food and spend what you saved on good skincare if that's what you want to do. Your money.

I have a friend who loves designer clothes who buys them all from e-bay. You can set up Pay Pal, sell stuff and then when you buy, it feels like free stuff, because it just comes out of your Paypal account.

Cheapsmells website is good for skincare at lower prices.

But the biggest issue is overspending. If you're buying stuff you don't really want or need or even like, or never use, that's a problem. Try living for a week or two without buying anything at all, and do some really good things in that time (with DD, say, to make up for not shopping with her) and see how you feel afterwards. It might put the shopping into perspective.