Do I just need to stop buying anything extra whatsoever?

sparkleshin · 2023-08-01T20:34:03+00:00

I know no one can change the situation but me. I would say I should have just enough to get by, but I am guilty of impulsively buying bits that don't appear to be costing much and then I add it all up and it's a shameful amount. I realise that's not an excuse as I should be writing down each spend. I tried giving myself money each week to try and balance it out a bit across the month, but then I think I'll just take some of my money from the next week and just wont spend anything that week but then I do spend something.

DustyLee123 · 01/08/2023 21:41

Document every single penny you spend and add it up at the end of the week.
Shame yourself into stopping !

Combusting · 02/08/2023 13:17

Here's what happens at my end.

End of month: Pay Day with pension deducted at source.

1st of the month: Direct Debits and Standing Orders go out automatically including a) All bills including fuel and joint account contributions 2) mortgage Overpayments 3) Savings for kids 4) Savings for savings account. This money is gone. I cannot see it again. It does not exist in my account. Invisible.

1st of the month: A "personal allowance" of £X goes out into my Starling Account. This £X is £200. This is after all of the above and overpayments and savings have all gone and become invisible to me.

For the rest of the month I only have £200 in my starling account to play with. Nothing else exists. My starling account is divided into the following spaces -
Space for Work Food top ups : £50 a month. I use this to top up packed lunches and leftovers.
Space for going out and entertainment: £100 a month. I use this for the odd takeaway or meal out with friends or spouse.
Space for personal spends: £50. I use this for personal spends - a nice top at a shop? Nail polish? Some browsing on Vinted and something catches my eye?

I write this as a higher rate tax payer. I could easily blow off more than £200 a month if I approached this differently. But I make sure that my bank account that gets my pay on pay day is nearly empty by 1st of month with savings, savings, overpayments, pensions and bills and all I have to "play wth" is £200 divided into pots.

WinchSparkle80 · 03/08/2023 20:09

@Combusting this is a really good idea, I am not quite this strict but think I need to be. Thanks for writing it all out.

raincitymum · 04/08/2023 00:17

Combusting · 02/08/2023 13:17

Here's what happens at my end.

End of month: Pay Day with pension deducted at source.

1st of the month: Direct Debits and Standing Orders go out automatically including a) All bills including fuel and joint account contributions 2) mortgage Overpayments 3) Savings for kids 4) Savings for savings account. This money is gone. I cannot see it again. It does not exist in my account. Invisible.

1st of the month: A "personal allowance" of £X goes out into my Starling Account. This £X is £200. This is after all of the above and overpayments and savings have all gone and become invisible to me.

For the rest of the month I only have £200 in my starling account to play with. Nothing else exists. My starling account is divided into the following spaces -
Space for Work Food top ups : £50 a month. I use this to top up packed lunches and leftovers.
Space for going out and entertainment: £100 a month. I use this for the odd takeaway or meal out with friends or spouse.
Space for personal spends: £50. I use this for personal spends - a nice top at a shop? Nail polish? Some browsing on Vinted and something catches my eye?

I write this as a higher rate tax payer. I could easily blow off more than £200 a month if I approached this differently. But I make sure that my bank account that gets my pay on pay day is nearly empty by 1st of month with savings, savings, overpayments, pensions and bills and all I have to "play wth" is £200 divided into pots.

This is exactly what I do. Except I don't have budget for personal things. I sell our clothes on vinted and buy what we NEED in credit. I have a just incase pot but it's for anything really. We don't save for holidays or shopping. It's about housing, food, car, train, utilities, and my kids activities (which I was about to cancel but mil decided to take that on). I only have £200 in checking after doing pots. I wish I'd been this diligent years ago. It's ebbed and flowed but I won't ever go back to my old ways. It's organised and I have no questions where money is going.