Can’t stop spending money…

[KittenCatt]

I bought a house 8 months ago, and every penny I have leftover from paying mortgage, bills and food is spent on it on furniture, home decor and DIY etc.

I’ve been paying myself first, but I always end up transferring the money out of my savings pots and spending it on house stuff…

Is anyone able to help me become more disciplined please? Any tips at all? Thank you!

Put it in a savings account where you have to wait to access it.

Thank you, but I’d like to build up my Emergency Fund, so that wouldn’t be suitable. I should have mentioned this earlier. Thank you, though!

Not being funny but don’t go to the shops or browse online. If you don’t know that something is there, you won’t be tempted to buy it

Pay into eg. A regular saver where its locked in for a year. And you can keep some of it outside that for any emergencies in that year.

Write down your wishlist in order of preference. Price it up. Put some money into a house fund and purchase as and when you can afford. "Savings" sounds boring so switch your mindset to "spend later".

Honestly I was looking for a thread to help me, I can’t stop spending money either.
I’m buying things constantly online, they are all things that me, the house, or the family ‘need’ but not at this very second.
Then I’m on to the next thing.

is there any cure for this? I don’t want to be like this.

Put money in Hyper Jar or something like that where you have labelled wallets. Only spend from one named home. Alternatively just realise that the possession of commodities will not fill the void in your life. Desire is a trap that ends up being tomorrow's clutter. Or won't you think of the .... Planet...

I am like this and it is definitely an addiction just as gambling,alcohol etc but no one will take it seriously,my psychiatrist briulushed it off as not important but when it gets you into debt it's not funny.

Delete all shopping apps off your phone. Unsave any saved card details on your phone. Delete any Klarna or pay later apps. All that sort of stuff helps.

Thank you! I’m adding the stuff I want into a wishlist as we speak 😊

I'd feel really vulnerable if I didn't have an emergency fund, so try to focus on how much more secure you'll feel having an emergency fund behind you.

The wish list idea above is a really good one - I do this, and often find that I realise I don't want / need the item later. The other thing I've found really useful is to transfer myself a set amount of personal spending money every month, e.g. £50, that can be spent on whatever treats / luxuries I choose. It might mean I have to save up for things that I want, but it also means that I have time to go off them anyway 😄, and that I don't feel like I can have anything.

Good luck!

KittenCatt, you'll enjoy your new purchases so much more when you've saved up first rather than impulse buying and feeling guilty. X

^that I don't feel like I can't have anything

Thank you all.

I’ve budgeted £200 spending money per month, so I get some stuff on my wishlist. Then I’ll save £50 in my Emergency Fund and £50 towards a new bath and shower.

I’ve also been selling things on FB marketplace, so any money made for that can be deposited into my Emergency Fund too! 😊

I think this thread has given me the boost I needed. Thank you!

Is this your first house? It’s pretty normal to go through this when moving home especially if it’s first home. You want to kit it out and make the house the home. As long as you are not going into debt it should calm down as you get things how you want them.

Don’t wait til 50 like me and DH to sort this out. We have been lucky with house prices and final salary pensions but we have been very passive in all money matters til now!

You just have to be disciplined and save up in a pot and then buy. It’s only taken me 50 years to realise I’ve been crap with money.

Good luck.

Yes, it is our first house. We’re getting there, with our hallway and kitchen both completed. 😊

I agree on the first house comments, The money just flows out for a while but will slow down. Good to acknowledge that it needs to slow down... Saving can also be addictive!

But as others have said... Your future self with be happy if you educate yourself on money. Google the financial flowchart.

I am also naturally like this. Since starting mat leave just over a year ago, I have a new system whereby if I see something on line, I take a screenshot of it. If I’m in the shop I take a quick picture. I then have a list on my phone called ‘things to buy,’ with the intention of looking around for it for cheaper or when I get paid again. 9 times out of ten by the time it comes round I’ve been paid I don’t want or need it anymore but adding it to my list gives me the dopamine hit of ‘I am going to buy this.’

Sorry if I’ve missed this, are the things you’re buying (food, furniture, diy stuff) essentials or not? I’d see all of the above as essential when you’re just settling, you won’t be buying furniture and decor stuff forever, I think it’s normal to be spending out heavily when you’re in your first home as you’re having to buy things for the first time that you never had before.
Can you afford it?

Believe it or not, I’m fairly educated about money. I was addicted to saving, and I invest in an S&S ISA too. It’s just since buying my house that I’ve become such a spender.

I hope that by the time we’ve been living here for a year, that things will calm down. There’s still work that we need done to the house, we want a new bath and shower and the bedrooms to be plastered.

We also need furniture such as a sideboard for the lounge/diner, chests of drawers for the bedrooms and a sofa bed for the spare room/office. Most of these can be bought on FB marketplace, though!

Something else that can be useful is to compare your spending relative to these recommended percentages:

50% needs
20% savings
30% wants

I don't fully ascribe to this, as it can encourage scope creep re your spending as salaries increase, but I think it can be useful to compare against.

I’m not in debt, but I’ve cleared all of my savings and I’m left with nothing at the end of the month. I’m trying to change that.

You’re right, it won’t be forever 😊