Am I very wasteful with my money or is it the norm these days

[Hedge]

The fact you put money into savings means you are more wise with money than me.

I need to sort my spending out. I've always just bought whatever I fancy and end up with nothing by the following payday.

Think I need to take these words of advice from people!

 

[easyrider]

This spending habit has only been around (mainly) since cards and phones - In the old day when we were paid in cash on a Friday morning and you had to divvy it up into separate pots and you ended up with 20 quid in your pocket to last as week you could see instantly it wasn't going to last the week if you had a few beers to many.

So try giving yourself £100 a week and see how you get on. - looking at figures on a spread sheet means sod all - you just move a few figures from one column to another and everything looks OK - but it isn't. Cash is King when your hard up - when it's gone it's gone

A lot of this makes sense...I don’t use cash in the week at work...but I see what you mean...wireless transactions can easily be used without the true value of the transaction being registered in your brain. Cash money does make you spend less, well it does for me.

This is a good place to start...get some cash out and see how you get on with it...once it’s gone it’s gone...

When I was out of work in the early 90s and on the dole...I used to go into dole mode...I’d pay myself only a certain amount for food and never deviate from it..I always had money on me went I went to sign on again...

My travel cost to work in the summer gets slashed when I use my motorbike.

£6 motorbike per week
£25 Mazda MX5 per week

I’m to much of a wuss to ride my bike in cold weather but come March through to sept I’ll use my motorbike...only this year I used the car more as I enjoyed the daily commute in the MX5 with the roof down.

You can dramatically reduce your spending if you put your mind to it..and not feel your going without.

Bulk buy...buy cheap close use by date food and freeze it...try different brands...

A lot of people’s spending while working( not major purchases) are mini rewards to trick yourself your work is worthwhile.

I find saving is the best way for this...don’t buy stuff you don’t need and just bank the rest...knowing you can have a holiday when you want, a new car if you want paid in cash, anything.

Psychologically picture your job as being trapped in a cell...being trapped in a cell with a tv and Blu-ray is easier than not. But imagine being trapped in the cell with the key to that cell in your back pocket?

This is liberating..This is how I see saving...I’m working for freedoms not working for chains...

If you are in a position to cover your outgoings and have money to save...save it...then try reduce your spending and save some more...

My last serious chat to myself about spending was getting a new iPhone Xs ...I have an iPhone 6 I bought outright and got an EE sim only deal for a great price on loyalty scheme..

Then last week or so a new iPhone comes out...I want it...thinking it will make me happy but my saving brain starts to wiggle its way up to the top...

Do I need it?
You have a new battery in your iPhone 6 so it’s not like my phone is not holding charge
iOS 12 is coming out and I will see speed increases on my iPhone 6

I hovered over the giffgaff buy button and the suddenly thought...nope I don’t need a new phone...I’ll be using iOS 12 on a new phone costing over £1000 for what? After a few days the novelty wares off and you get buyers remorse...

For a few days you deluded yourself in thinking...I work hard enough...I should treat myself...but the real treat is saving that 1k and knowing you made the right choice...knowing that 1k could go toward a new 65 inch OLED that would bring you far more enjoyment than a new phone ever could...

 

[Nitefly]

Drinking and dining out are both really expensive if you do them regularly, particularly the latter, so dropping those can make a huge savings. A nice meal for two, without concern for budget, more than one course and with a bottle of wine and a cocktail, can sail north of £100 easily. Of course, you have to weigh up the cost with your the enjoyment of the experience - it’s not just tasty food, it’s a platform to have good conversation about what you are doing, as is any other ‘event’ such as a concert etc.

Also, disciplining yourself to enjoy what you have purchased before you purchase other things will save you a lot of unfinished and unenjoyed projects and purchases. If you master this... let me know how.

 

[Raggs]

plenty of rich men in the grave yard spend it you never know what's around the corner critical illness / accident run over by bus ect..

 

[easyrider]

plenty of rich men in the grave yard spend it you never know what's around the corner critical illness / accident run over by bus ect..

Having a healthy pack up is cheaper and better than buying a Greggs

 

[Chojin]

I tend to live within my means but even so I find it difficult to accumulate any savings. I sometimes treat myself to a takeaway or coffee. I avoid liabilities like car loans, monthly subscriptions etc.

Simply leaving the house is an expensive thing to do, especially when the weather gets worse. I find there are few places to go that don't cost much.

It's become the norm to spend a lot on nothing. Example the weight vs price of snacks in shops. People are willing to pay more for something labelled 'low calorie'.

 

[Jean-F]

The world is expensive. I bought a double vodka and a Guinness last night in That London.

£16.50

It took my breath away. I still (foolishly) have the fact I paid 95p for a Guinness and 1.50 for a double vodka as a youth in my head

I’m often unsure of what is meant when people say “That London”, I’d like to think that they’re marvelling at being in my city, but I’m inclined to think that they’re being derogatory.
I was in a pub in Rotherhithe last Thursday, I rarely drink a beer, and even then only if the temps are 33c or more, so I had my usual double vodka and tonic, and my wife had a large Viognier white wine, this came to £17.10, which is only very slightly more than it usually is in an inner London suburb pub.
The breakdown of the price was £11.60 for the vodka and tonic, and £5.50 the wine.
This was probably due to the vodka being Stolychnya, a premium brand.
Normally, with Smirnoff a double with tonic comes in at £10.40-£10.60.

 

[Jean-F]

plenty of rich men in the grave yard spend it you never know what's around the corner critical illness / accident run over by bus ect..

It took me about two seconds to get that, it would have been easier
if you’d put a comma after yard, but the sentiment I agree with.

 

[Tom|Nbk]

Stay in and play pc games on my days off saves me money

 

[Housey]

I’m often unsure of what is meant when people say “That London”, I’d like to think that they’re marvelling at being in my city, but I’m inclined to think that they’re being derogatory.
I was in a pub in Rotherhithe last Thursday, I rarely drink a beer, and even then only if the temps are 33c or more, so I had my usual double vodka and tonic, and my wife had a large Viognier white wine, this came to £17.10, which is only very slightly more than it usually is in an inner London suburb pub.
The breakdown of the price was £11.60 for the vodka and tonic, and £5.50 the wine.
This was probably due to the vodka being Stolychnya, a premium brand.
Normally, with Smirnoff a double with tonic comes in at £10.40-£10.60.

Im not sure why what I think of London should be of any concern to you...firstly, it should be irrelevant to you really.

Secondly, it's something people north of That London say as a colloquialism, nothing more.

If all you know is That London as many who live there do, then having an informed view of what is a marvel might be somewhat one dimensional.

I like London, I worked in the city on and off for 20 odd years and I was down there for the weekend, sadly cut short this morning after my wife broke her foot one of That London's curbs.

 

[ThriceNightly]

Stop buying overpriced coffee. I used to get at least one a day on the way to work. But a while ago I decided to have a jar of instant at work. It's just as nice and it saves me about £50 a month.

I purchased a s/h coffee roaster 5 years ago and roast my own beans = Amazing inexpensive coffee.

Simply leaving the house is an expensive thing to do, especially when the weather gets worse. I find there are few places to go that don't cost much.

Walking/ Hiking costs nothing pack a flask/packed lunch keeps you out of greggs / costa and the like.

This morning did a voluntary work party on my local canal = meet nice people and free tea and cakes. Even got a boat ride. Walked down there & back= no transport costs
Similar work parties in my local county park..... they welcome volunteers.

 

[TNGL]

Cut the food/drink out and bring it all from home. How much would you then be spending per month?

This is something I am aiming to do because £7 to £12 per day on lunch isn't a habit that I want to continue. I must have easily spent around £1,200 on quick lunches over 6 months, let alone the slightly more expensive ones. It does need to change though.

 

[Uther]

Literally this week I've decided to get a grip with my finances, after going through my bank account and seeing well over £150 frittered away this month using a contactless card.
That's stopped immediately, and I have already seen an improvement. Spreadsheets don't work for me, but a bit of self control does!

 

[Housey]

I just spent £179 on Nespresso's new pods, is this the right thread to mention this?

 

[Tom|Nbk]

I just spent £179 on Nespresso's new pods, is this the right thread to mention this?

Have you told anyone you're well off in the last five minutes

 

[Housey]

Have you told anyone you're well off in the last five minutes

The Macro should be running to do that on the hour across different sections of the forums.

 

[Tom|Nbk]

The Macro should be running to do that on the hour across different sections of the forums.

 

[MichaelAwkward]

Having a healthy pack up is cheaper and better than buying a Greggs

To be fair to Greggs, you can get a decent coffee, breakfast item (savoury or sweet), soft drink and a perfectly decent baguette/roll for £5 odd (£2.25 breakfast meal deal and £3 odd lunch deal). Which isn't that much to spend on a daily basis.

Obviously you can save money buying ingredients to make a packed lunch, instant coffee, breakfast etc but it's hardly living a life of excessive luxury.

 

[Freakbro]

Same double JD and coke last night in town £11, I don't remember last time I paid £11 for a drink.

Wow, theres a pub near me that does triple shots (inc JD) with a free coke (can) for a £5...its a bit of a dive though and I don't frequent it that often

Though a pint across the road from there in my local has just hit £4

 

[easyrider]