I have a spending problem, usually I get by with barely enough but whatever I don't spend on necessities like bills and food I end up burning on things I don't really need, mostly eating out and buying higher priced clothing/accessories that I will probably only wear a few times and drugs of course but I keep that in check and currently have what I need stocked up. I need to travel in a couple months for an important visit and my comfort range for expenses will be $800-$1k.. I'll make enough between now and then to be where I need to be but I just need to be more strict with how I spend in order to meet that comfort zone. I already have a fraction of that and I just want help watching how I spend and using my money wisely.. advise?
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Help me manage my money
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joannie_mhm
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- Nov 11, 2004
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It's actually a lot easier* than it seems.
Work out how much you need to save to make your $1k target by the time you need it, and then take that money out as soon as you get paid, and then don't touch it. Whether that means giving it to someone you trust to mind, putting it into a bank account that you don't have a card for, putting it in a piggy bank, just don't touch it. Then in X months you'll have the amount you need saved, instead of getting halfway through your pay period and thinking "Shit, I need to save for this holiday but I've just spent a bunch on these hot boots".
If you don't physically have that extra money sitting in your wallet/bank account it's a lot easier to decide to take lunch to work rather than buy something from the food court, or decide to have a night in with your friends rather than going out to a club or something. And at the end get the payoff of doing whatever it is you're saving for, so it doesn't seem like such a sacrifice.
*easy as long as you can use self control not to use your savings.
Work out how much you need to save to make your $1k target by the time you need it, and then take that money out as soon as you get paid, and then don't touch it. Whether that means giving it to someone you trust to mind, putting it into a bank account that you don't have a card for, putting it in a piggy bank, just don't touch it. Then in X months you'll have the amount you need saved, instead of getting halfway through your pay period and thinking "Shit, I need to save for this holiday but I've just spent a bunch on these hot boots".
If you don't physically have that extra money sitting in your wallet/bank account it's a lot easier to decide to take lunch to work rather than buy something from the food court, or decide to have a night in with your friends rather than going out to a club or something. And at the end get the payoff of doing whatever it is you're saving for, so it doesn't seem like such a sacrifice.
*easy as long as you can use self control not to use your savings.
Methadone84
Bluelighter
send it to me and ill be your personal bank
llama112
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I have created a spreadsheet for myself where I track every single transaction I make. My boyfriend uses the spreadsheet as well. It works great - I see how well I did each month. It's just for my personal use ... no one else has to see it.
I basically have two bank accounts and one savings account
1 - main bank account that I can access with my debit card. I try to keep $100 in here unless I'm prepared to make a large purchase of some sort
2 - secondary bank account / savings account. money here can be transfered to the main bank account but I still have to make a conscious decision to do that. so like I'll transfer rent money from here to my main bank account when I need to pay rent.
3 - actual savings account
I basically have two bank accounts and one savings account
1 - main bank account that I can access with my debit card. I try to keep $100 in here unless I'm prepared to make a large purchase of some sort
2 - secondary bank account / savings account. money here can be transfered to the main bank account but I still have to make a conscious decision to do that. so like I'll transfer rent money from here to my main bank account when I need to pay rent.
3 - actual savings account
captainballs
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- Sep 21, 2004
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Hey Thizz,
I've had to really analyze the way I've spent money, basically from being totally screwed financially. What I've discovered is that extra time = more money spent. So the question for me is how to kill more time with less dollars. The answer is to use free time, which I normally spend spending, to go explore places that I've always thought looked interesting. Walking around, etc, preferably with another person. This can kill hours, and then you get the satisfaction of spending time being entertained and satisfied without having the extra hole in your wallet.
I've had to really analyze the way I've spent money, basically from being totally screwed financially. What I've discovered is that extra time = more money spent. So the question for me is how to kill more time with less dollars. The answer is to use free time, which I normally spend spending, to go explore places that I've always thought looked interesting. Walking around, etc, preferably with another person. This can kill hours, and then you get the satisfaction of spending time being entertained and satisfied without having the extra hole in your wallet.
How do you normally spend your money? If you use cards then simply stop using them (destroy them / apply for new ones which take a few weeks). Withdraw a few hundred bucks per month as spending 'real' money/cash is a lot harder than spending on credit as you have a physical point of reference.
If you like buying expensive clothing then don't just avoid buying the item but also the even that you would wear said item - that way your not only saving on that one special outfit but also the cost of the night out etc.
Look at how much you spend in a month and then break it down per week and work at small goals - how much do you spend on lunch per day? If you buy a sandwich / snack / drink each day at work then how much could you save by making your own 'packed lunch'.
Look at your spending pattern (place / time / what you buy) and focus on that - avoid the mall on a payday, forget about that upcoming party, dig out some of those old outfits and see how you can mix / match them so you can wear again (or sell them on ebay).
If you like buying expensive clothing then don't just avoid buying the item but also the even that you would wear said item - that way your not only saving on that one special outfit but also the cost of the night out etc.
Look at how much you spend in a month and then break it down per week and work at small goals - how much do you spend on lunch per day? If you buy a sandwich / snack / drink each day at work then how much could you save by making your own 'packed lunch'.
Look at your spending pattern (place / time / what you buy) and focus on that - avoid the mall on a payday, forget about that upcoming party, dig out some of those old outfits and see how you can mix / match them so you can wear again (or sell them on ebay).
you need to make a budget and stick to it. in my experience, most people get outside their means simply because they don't know that they're spending as much as they are.
alasdair
Roger&Me
Bluelighter
This is good advice.
Also: steal toilet paper from work :D Spending money on something you're literally going to wipe your ass with just seems preposterous to me.
morpher001
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- Jan 1, 2006
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Set up an automatic transfer of x dollars from your main bank to a savings account for every payday.
When the money is never there, you tend not to spend it. If you do want to spend it, you need to do another transfer, reminding yourself that your blowing your 'budget'. Not as effective as a proper budget, but arguably easier to get started with and stick to.
When the money is never there, you tend not to spend it. If you do want to spend it, you need to do another transfer, reminding yourself that your blowing your 'budget'. Not as effective as a proper budget, but arguably easier to get started with and stick to.
ChickenScratch
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- Jun 8, 2010
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great advice. steal from your employer.
Roger&Me
Bluelighter
^Im sorry my jest hath jostled the columnar wooden implement in thine rectum, good sir.
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xstayfadedx
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Look on facebook, derpppp. Has nothing to do with thread but yeahh. Thanks