I am crap at Saving money. I have plans and ideas and then get carried away doing things or other people or my kids.
It's not that I don't know how it's purely a lack of self control. We are not rich, in fact just on the government defined poverty line but we do have a little over each week.
My husband is great at financial
Management. We love within our means and have no debts. We eat well and I have learned some great ways to shop frugally it's the putting money away that I struggle with.
For those of you who have learned how to save after being really bad at it can you please share your tips on self control here? I really want to save to help my family.
5 Replies
Set up a direct debit of the amount you want to save. Make sure it comes out on payday and goes into an account you don't have a card for.
I find I don't spend if it's already 'gone'. It's like it doesn't exist anymore.
I think you need to set up another bank account that isn't linked directly to your current accounts.
Then direct debit the amount you usually have left each week, in to that account.
"Out of sight, out of mind".
You're less likely to spend money if you can't see it in your account.
Also, get cards that don't have the pay pass feature. It's very easy to tap the card twice as much and you would if you needed to insert and use pin.
Try shopping with cash.
Withdrawal the amount of cash you need for the week , and only use that.
A $3.50 bottle of coke here and there seems like nothing if you use a card, but if you've only got cash in your purse, you decide if it's a must have. As that $10 could be used elsewhere.
If your husband is good at the financials let him do the savings, bills, grocery money and allocate how much you both have to spend on other things
Agree. A part of being in a relationship is having the skills of two people available. I'm the saver in our household so I oversee all savings and monies put aside for paying off larger bills.
Same here! My OH sees something he wants and buys it without any consideration for the budget lol so I'm in charge of all of that now