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Original poster

Sticking to a tight budget

18 replies

Nitan · 27/01/2007 09:39

I used to be really good with money but for the past year or so I've been really careless and usually always outspend my budget.

February is going to be particularly tight as it's my kid's birthdays, I need to put down a deposit on our holiday AND I need to pay for 3 passports....all in one month.

According to be "income and outgoings budget" I can do this and still have £250 left at the end of the month, this will be totally spare money (groceries are there as an outgoing so already accounted for).

So, can 1 adult and 2 kids survive on £250 for a whole month considering all bills and groceries etc have been paid?

I would love some tips and advice on how to stick to this budget for feb. Am I setting unrealistic targets?

OP posts:

nutcracker · 27/01/2007 09:43

You have over £60 a week left so I can't see why not.

I'd be delighted if I had that much left every week after bills etc, unfortunatly it's more like 60p LOL.

itsmeNDP · 27/01/2007 09:44

Yes you can. Lots of people would argue that £250 of disposable income a month isn't a tight budget.

TrinityRhino · 27/01/2007 09:45

totally thats alot of money to have spare

Original poster

Nitan · 27/01/2007 09:46

I know it seems alot but it just seems to disapear, I'm not on good money or anything like that but numerous trips to the shops, treats for the kids, the odd item of clothing, the odd dinner in town...it just disapears

OP posts:

kittylette · 27/01/2007 09:47

i could live on that a month - without including groceries

what do you think youd spend it on?? trips out?

itsmeNDP · 27/01/2007 09:47

I know what you mean Nitan, but so long as your bills are covered and you have food in your cupboard BEFORE you start spending the £250, then you will be fine.

evamum · 27/01/2007 09:48

It's all relative I suppose! I would love to be able to do the things you do every month!
I end up with 20 quid a week and take it out of the bank as cash. Then I leave my cards at home if I go anywhere so if I want something I know that is ALL the money I get until Sunday night.

Original poster

Nitan · 27/01/2007 09:49

yeah with it being the kids birthdays I will probably end up taking them out so say £20 for that at least, then its a weeks school holiday which will inevitably involve at least one day out so say £20 for that too...that's £40 gone to start with, it just all disapears like that, little things here and there but I used to be so good with it

OP posts:

wurlywurly · 27/01/2007 09:49

If you want to have this holiday then you have to cut out he odd meal out or treats for the kids, I know i would rather have the holiday

itsmeNDP · 27/01/2007 09:50

I wouldn't beat myself up about it, tbh Nitan. You do actually have the £250, you are spending money that you have and isn't allocated to other things. It's not as if you are soending the £250 on credit cards or on the never-never.

itsmeNDP · 27/01/2007 09:50

spending

Original poster

Nitan · 27/01/2007 09:51

I think what I might do is draw out £40 a week to have as "spending money", that way I know what I have and how much I can spend every week and if I can stick to that I should still have some money left in bank at the end of the month...that should work shouldn't it?

OP posts:

itsmeNDP · 27/01/2007 09:52

It should work, yes. So long a you can be strict with yourself about not going back to the cash machine when the £40 runs out

Fillyjonk · 27/01/2007 09:54

yes

I know what you mean, money seems to disapear here

actually it doesn't

what happens is that I don't properly account for anything, or my budget is unrealistic.

But also, I cannot stand planning so far in advance anything. I just can't do it.

So dunno what my advice is really. Have you accounted for everything? if so - yeah £250 is plenty.

Kittypickle · 27/01/2007 09:56

I think that's a good idea Nitan. We do that when we want to stick to a tight budget. That way if you do run out of money after a few days then it is never too long until the next lot comes in.

We've got loads of places we can go round here during the school holidays pretty much for free or just for a few pounds. I'm sure you can have a really good half term and live comfortably on the £250.

TrinityRhino · 27/01/2007 09:56

meals out, treats for the kids.....well just stop doing it, I would love to be able to do that

would love to be choosing not to so I can have a holiday too

shosha · 27/01/2007 09:58

Message withdrawn

treacletart · 27/01/2007 10:00

Take out what you have to spend in cash per week and leave your bank cards at home. Don't eat out, take a picninc to the park, go to the library, dont go to the cinema - rent some dvd's, make some popcorn and turn your sitting room into a cinema. If you want to treat the kids, giver them a couple of quid to check out your local charity shops for toys, books, videos etc. No harm in going vintage yourself either. Seriously after bills and food £250 is plenty.

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