anybody got anytips on how to pull in purse strings?

Question

my finances are all over the place and i seem to be spending money non-stop

Answer 1

Try and follow these steps:
- Pay youself first - save AT LEAST 10% of all your income as an emergency fund every week/month AS SOON AS YOU GET YOUR PAY!

- Track your spending - Write down everything you buy so that you can see how much goes on unnecessary things so that you can PLAN how to cut back

- Leave your credit cards at home in a small bag in a really uncomfortable place to access so that before you buy that 'latest on the market product' you have time to think through whether you really need it in your trip between the shop and the house,.

- Play the credit card game - know how long you can go without paying your credit cards bills without incurring any interest until all your bills are paid off. Put more debt on cards with lower interest and NEVER take out store credit cards because they charge exorbitant rates of interest

- Last and very simply - if you don't have the cash - don't spend it! Think of it this way, everytime you charge something, you are borrowing...and the borrower is always a servant to the lender, (well they do have ultimate control, which is why we all hate going to negotiate with our bank managers. ) So if you don't borrow you have the ultimate financial freedom - especially if you are able to save a small amount on a monthly basis.

Answer 2

If you eat a lot of meals out/take aways, then start cooking good wholesome meals at home, much cheaper. If you go out drinking with your mates, take it in turns to go around each others house and all buy 1 bottle of wine each, much cheaper than drinking out. Don't buy very expensive clothes, some cheaper ones can be just as nice. If you have a car, try walking locally instead. If you have a mobile, don't use it so much, we never used to need them, so give it up for a while. Do what i do when i go grocery shopping, i use Morrisons and buy the buy 1 get 1 free things etc, that way i never pay full price for anything, and i then wait until the next offers come around and start again. Good Luck.

Answer 3

Hi, I am in the same boat! The best thing to do is ONLY purchase things which are really NECESSARY ... food can be cooked cheaply at home for example. Just imagine you are saving up for something really important and then just spend what would be left over after that saving has been allowed for. Good luck to you!

Answer 4

Many money progs recommend writing down a diary of EVERTHING you spend. Every magazine, pkt of sweets or whatever. This way you see where your money is really going very quickly & it usually comes as a shock. Another tip is before you buy ask yourself honestly if it is a need or want purchase. Do you need it now or is it for later. You have to be really honest on that one but if your answer is want or later be strong & dont buy.

Answer 5

This sounds nuts, but if you're really desperate to save money, you can cut your weekly food shopping bill by eating only veggie food. This is, of course, provided that you always eat in, which you should be doing if you're skint. Meat is expensive, veg is cheap, it's an easy way to save money (and lose weight as a little bonus!!)

Answer 6

i know what you mean-what i did was write a list of all your outgoings so you can see exactly where your money goes and see if you can cut out any unneccesary items/cut your credit cards up or switch to a cheaper card/shop in a cheaper supermarket.Small changes will soon add up

Answer 7

Without knowing what you are spending on its kinda hard to give advice, anymore info ?

Answer 8

Avoid impulse buys. Always ask yourself "can I live without this" and do it when you're sober,lol.

Answer 9

stay in~~don't go to pub~~don't eat take aways, life would be pretty boring though