My GrandMother had a obvious, but good peice of advice If you can't afford to pay for it, you can't have it. If more people were to take notice of this, there would be much less debt in our society.
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Someone once said to me, don’t see a big house - see a big mortgage. Don’t see an expensive car - see an expensive loan. And it’s true.
Biggest tip (if it can be called that) is save the majority of your wage. I always set aside the amount I’m spending in a month and then the rest goes into savings. It’s been easier over the last year/ year and a half given that we could barely go anywhere.
Look into the hidden spends too like Amazon prime, Netflix etc. Also phone contracts, you can usually make savings there.
Look into the hidden spends too like Amazon prime, Netflix etc. Also phone contracts, you can usually make savings there.
I'm late to the party here, but I'm also struggling. I'm really good with money but hubby earns a pittance of what he's worth.
With all price hikes on everything I'm now in the situation where I'm dipping into the savings. We had a retirement nest egg that was looking pretty healthy up until the pandemic hit.
Now I feel like as soon as he gets paid the money is gone and the bank balance is bleak.
It doesn't matter how much I budget I can't seem to balance.
I also have friends who seem to have copious amounts of cash and some don't even work.
I'd agree with some of the other posters and write everything down. Maybe try and have a couple of tough months so you can get some cash in the bank.
I'm doing exactly that this month, then Jan, Feb and March before my money situ gets even worse.
Good luck to you xx
I spent my 20’s working for a high st bank and therefore aware of the borrowing available to me and have always carried credit card debt. I worked 2 jobs to save for my house but am still in credit card debt.
It’s really tough no comparing yourself to others. The last few years I’ve really tightened my belt when it comes to clothes, make up etc etc and it’s been tough. This year I’ve taken on lots of extra shifts through work and finally managed to pay off one credit card and am currently putting as much as I can each month to my second one. Covid lockdowns and restrictions have helped a lot as I’ve not felt like I’ve missed out in the same way as I would if my friends were all going out the whole time or on holidays. I’ve still managed to do things like change my car, spend £500 on my garden and changed my kitchen around a bit. I just save for these things now.
It’s really tough no comparing yourself to others. The last few years I’ve really tightened my belt when it comes to clothes, make up etc etc and it’s been tough. This year I’ve taken on lots of extra shifts through work and finally managed to pay off one credit card and am currently putting as much as I can each month to my second one. Covid lockdowns and restrictions have helped a lot as I’ve not felt like I’ve missed out in the same way as I would if my friends were all going out the whole time or on holidays. I’ve still managed to do things like change my car, spend £500 on my garden and changed my kitchen around a bit. I just save for these things now.
Some of the advice so far has been brilliant, budgeting and not comparing yourselves to others is the main thing.
I also have a huge problem with impulse buying when online shopping, so try and stop myself buying things unless I really want them and have sat on the decision for a few days.
I also have a huge problem with impulse buying when online shopping, so try and stop myself buying things unless I really want them and have sat on the decision for a few days.
Some really good advice. I am like the OP I have enough to live on but i just don't know where my money goes . I then realised i was spending little but often . E.g going to get bits from the shop and nights out ,not looking at what i have spent it all adds up. I use to budget £25 for food each week but i was probably spending around £40 or more as i was going out for meals. I am thinking of selling my car as i only use it once in a while.