I use an old fashioned ledger book and write down everything as it happens, that way I know to the penny what I have to spend and then I check it all off against my bank statement each month and online every week or so.
I know I am anal about it all and probably a little obsessed and I cant see the novelty wearing off, it also good as I can see what I am spending my money on too as if I draw £30 out at the back of my book I will break that down to so £5 on bread, milk magazines etc.
Even before IVA I knew to the penny how much money i didnt have even though i never opened any post for months!!At least now I dont have to work out how much bank charges I have to pay and the intrest on unauthorised borrowing!!
Try it it does work!!
Back to square one but what dunt kill you makes you stronger!!
You're better than me FC! If I take out cash I account for it on my spreadsheet, but I don't make a note of what it's spent on. I've hardly ever got any cash anyway - I either pay by debit card or Dave pays and I pay him back!
I just use online banking - I know when my last DD comes out so can check to make sure that there is enough money in there to cover.
Hubby's benefit is paid into the Post Office and is withdrawn as cash each week and that funds our weekly shopping. Once it's gone, it's gone!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I've always kept records of every penny - I make hubby bring home receipts too.[:I] We don't use the card for transactions if we can help it.
I'm curious why my DD's don't come out on the elected date - it doesn't casue me a problem, but it so easily could for someone else. Think I'll write a letter to Natwest.
The only times mine come out on a different day is when the proper date falls on a weekend.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
My DDs say they will be taken on or after a certain date, so I don't know if that's got anything to do with it.
I know I should account for every penny, but to be honest I can't be bothered! Providing I know what's gone in and out of the bank I'm not too worried what it's spent on.
Fingerscrossed seem you have a very tight "reign" on your finances. Well done. It's only the last few weeks that I have been getting to grips with mine but I intend to do the same if my IVA is successful.
Swans-Girl my wife now keeps a record of all recipts/transactions from the bank/spending.
Certainly feels good not using the credit cards and actually spending our own money for a change.
I came into this world with nothing and still have most of it left!
I am a little sad as I actualy enjoy doing it. It has something to do with seeing it in credit and I am just getting to the point of looking at my finaces without feeling sick to the pit of the stomach
Back to square one but what dunt kill you makes you stronger!!
I have to agree, we're the same. Since the beginning of September we've "practised" for when our IVA is approved, and we've managed much better than we expected.
Pleased to hear it Rainbow. It never hurts to start budgeting as soon as possible. I love the challenge now of making my money work and knowing that my bank balance will be in credit at the end of the month - it may not be by much, but it's enough.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I totally agree Jan - we've been in credit every week since we first contacted VB and took their advice to stop paying our creditors - can't believe how easy it is to budget - if only I'd done this years ago, we wouldn't be in the position we're in!! xx
Think a lot of us think like that rainbow, I often also think about how much money over the years we've wasted, I technically should be very comfortable at this stage in my life but eh ho? Never too late to learn for any of us. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
It was all the stuff we wanted and weren't prepared to save for that caused the problems.
The impromptu shops on a Saturday when we didn't need anything.
I have only bought new clothes recently because of a massive weight loss and then only Asda cheap jeans and trousers.
We did a frugal Christmas last year, and it will be the same again this year as well.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I actually enjoy the frugal christmas, as its brought back what christmas should be about - giving a gift thats full of meaning and not because its expensive or better than last years.
I do still get my little angels something off their list but then I get them loads of activity gifts, which can be quite cheap.
Hubby and I exchange a bottle of something (Tia Maria for me, although it may be Disaronno this year, and a bottle of malt whisky for him). Other than that,there is nothing we really need or want so we don't waste our money.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
