i cant stop spending money.....?

Question

whenever i get some money i always seem to spend it and be left with a little, i got a debit card and cant stop buying stuff with it has anyone got an idea of how i can save my money?

Answer 1

I cancelle my debit card and changed it for a hole in the wall card so i cant go into a shop and pay for it that way.. i have to physically go to the cash point and take the cash out. Makes you think twice whn you see the cash in your hand and realise how much you spend. Also cancel your over draft so yu cant go over drawn! It does help and I am always in debit now...

Answer 2

One thing that helped a spendthrift friend of mine was to freeze that credit/debit card in water. Whenever she wanted to buy something, she would take out that card and start to thaw it out. If you can wait for the thaw it might be something that is worth buying otherwise put that card back in the freezer.

Set up a budget of what you can afford to spend during the week and withdraw that much cash from your bank. When you run out of cash, you are done for the week. I have always heard that you should make a rule of living off 82% of your income, if you break that rule penalize yourself from your allowance.

I know it sounds strange to be working for an allowance but if you cannot help yourself, having some strict rules will get you back in line. Remember to pay yourself first and take care of your future before you wonder about how much money you have to spend.

Answer 3

I went bankrupt a year or so ago and then lost all cards etc. Seriously it was the best thing in terms of making me notice what I spent, I don't recommend you go bankrupt!!! but I really recommend you leave your card at home and carry cash or only have certain amount of money transferred onto the card account. cards are useful for internet etc. but cash is best for everyday. I would also work out your expenditure and give yourself an allowance and set goals for saving. If you reach them each month reward yourself and buy something a bit frivulous, that way you'll feel naughty and good.

Answer 4

HI my name is vandall and i am a (recovering) spendaholic. The best thing i ever did was give my cards to my partner (who is a great saver) and had them give me a weekly allowance. I had to buy my lunch and anything else i wanted with this very small amount. i suffered at first but after a couple of weeks i realised just how little i could live comfortably on. It also helped us to start saving money and seeing the savings account grow really inspires me to keep to the budget.
As with any behaviour, you have to train yourself and they say any habit takes about 3 weeks to take hold, so stick with it.
At the end of the day you CAN stop spending, you just dont want to. You need a reason to want to.
We're now on our way out of debt and its such a weight off both our shoulders.
Good luck!!

Answer 5

Well turn your spending into a different direction. Instead of spending it on goodies and services Open up a savings account and deposit monies into it or buy Bank CD's. Then you maybe won't have the money to spend right now but it will be out of your hands but you will still have the money for real important things.

Answer 6

DISCIPLINE!!!! You have to take charge of your spending. One thing to do is set up a savings plan that you won't have easy access to. Perhaps, open an account with a bank that you will not have access to with your debit card, and put money in it. that way, it will be hard to spend. HOWEVER, the biggest thing is to just have discipline and don't spend it. that may take practice. . .lol

Answer 7

Have your wages paid into your bank account and have all your monthly bills- rent, electricity, council tax come out the next day by direct debit. Set up a cash card account and get any excess transfered to there and use that as yourspending account that way you will cover your bills.

Answer 8

Saving is a habit.If you know how to spend and get full value for money it is also savings.If you are salaried,you can join Provident Fund/Pension Plan where monthly deductions from salary ,are made by employer at source.Join recurring Deposit with some banks.Make savings a habit.at least 30 percent of your income must be saved.

Answer 9

The only way you can save money is to learn self-control and be disciplined! Try putting some money away where it isn't easily accessible (ie: another bank account, in a CD, investment, etc).

You're the only way you're going to stop spending-- is if you stop opening up your wallet!

Answer 10

when u get paid each month, set up an automatic transfer to put some into a seperate savings account.

you have to be strict with yourself - set a budget, take the cash out and then hide your card away!

whenever i feel the urge to splurge, i always think - right, if im still thinking about that item in a weeks time, ill come back and get it - and usually im not!