Stopping the spending...

[beautifullyhaunted]

How do you do it? I only make $100 a week right now, and after my car insurance and cell phone bill, I have this annoying tendency to convince myself I need this or that, and that its "Only" "$__" and before I know it, I'm broke again. How do you stop?

[Cricketlegs]

Well, not to sound harsh but you put on your big girl panties and you start and Emergency Fund in your savings account.

No one can MAKE you do what NEEDS to be done. Only YOU can.

When you feel the urge, take a deep breath, figure out how much you were going to spent and RUN don't walk to your bank.

Take a look around you, do you purchases make you happy?

You are HERE posting so I am guessing the answer to that is NO.

WE ARE ALL HERE FOR A REASON! Some of us are so snowed under we can't see the light.Some or us are feelings some sunshine, some of us have fought the good fight and are basking in the sun, some of us are just nutty frugal people who have dug out and are hooked on the high of saving money.

Ask yourself, WHO do you want to be.

I hope you are able get on the right side of living within your means and get your Emergency Fund fully padded.

If I understand correctly you are a young lady without a dh and kids. Now is the time to learn responsible money management.

All the best to you.

[Cricketlegs]

I just read your sigmature line--you should not have any money to burn--and that is what it is--if you want to dig out.

Good luck, if you need a plan we can help you find your way.

[babymakes5]

After looking at your list of debts, I would think that would be motivation. Put that list where you have to look at it all the time. Make a copy and put it in your wallet, that way when you find something you "just have to have" you have to see that list when you get your card/check out to pay. Do you have a goal you are working towards? Dh and I have reminders of our dream house all over the place, and we talk about it all the time, with each other, and our children. It keeps it fresh in our minds on why we are sacrificing. After a while, you will probably find that it's not really a sacrifice at all, and feel the freedom that comes from being in charge of your finances.

[LexTysMommy]

My idea for you...and its only my thought...is that you are still young and I am assuming living at home(?? hence the only making $100 a week..and not paying utilities/rent..etc.) here is what I think you should do.

Pay your bills every month as you have been however with every paycheck knock out one of your "debts". For example :

*check is $100
*divide insurance by 4 and put that money in envelope for insurance bill..?$25*do the same with the phone...?$15
*and save ?$20 for gas and food.

that leaves you ?$40 a week to "play with". I would make a list of debts..as you have done below and MAKE yourself pay off the little ones weekly.that would equal 4-8 a month.

You would still have money left over for "treats" that you can reward yourself for paying off the debts you owe. A new Cd every month AFTER you pay 4 or so debts off. A new shirt every month IF you pay off 4 debts. ...ETC..

This makes sense to me...but do what works for you. If you deny yourself from buying anything you wont be happy and will splurge sooner or later and feel bad about it. Just like food. If you are on diet and do not eat sweets even when u crave them you are more likely to pig out on chocolate cake one day.


Good luck.

[frugalfarmwife]

First of all you have to learn to ask yourself "do I want it or do I NEED it?" It's usually just a want, you can walk away from a want Second, stay OUT OF THE STORES! Only go in for specific items, make a list and stick to it.

How much free time do you have? Could you pick up a second job? Don't buy books, get to know your library well Find free hobbies/entertainment.

And you might need to find a new group of friends too, sometimes the hardest thing is saying no when all your friends say yes (I even have this problem at my age)

As was said above, you're an adult now, you answer to YOU

And yes, we all have times we fall off the wagon, we pick ourselves back up and start again, it's not worth looking back and fretting over whats done.

kj

[Cricketlegs]

If it were me I would knock out those first 5 little bills.

Then take a look and make a new plan.

It would feel good to get rid of five items on your list trust me.

[LexTysMommy]

Looking over your signature...

You have 10 debts under $100. The total for those 10 are $392.47.
You could knock those out in 2 months. And how great would that feel!

Quick question though....

Do you pay the minimum on your 9 credit cards every month? What is APR?
Do you pay on the 5 student loans every month? APR?


If you look at your bills differently maybe you would agree you dont NEED to spend anymore.

Bank Total $183.03
Other Bills total $612.47
Medical Bills total $826.56
Personal Loan $1,400.00
Student Loans total $6,057.97
___________________________
The total of above 5 catagories $9080.03

****Credit Cards total $14,637.74!!!!!!!!!!!!!!!!!!!

[latierra84]

what do you find yourself spending money on.. food? clothes? entertainment (movies.. going on..?)

get into the habit of writing down every cent you spend.
when you get the urge to splurge, make it a habit to whip out the little notepad when you keep track of your spending. even if its only a few dollars, note it all down and keep accurate track of every penny. you'll start to see how all those small purchases start to add up and how they eat all of your money and quick.

its taken me months to battle myself when it comes to spending. i know that when the money is gone, thats it, its gone (because i dont have any cc's not even for emergencies). ive gotten to the point where i still have days before my check and i have ZERO money in the bank or in my purse and all there is, is whats in my fridge/pantry.

then i make it, survive three or four days with no money (which means no spending) and i get paid and i suddenly realize that i made it. i didnt die. i didnt go hungry, i may have been a little bored (but thats mostly due to my lack of creativity) and that its ok. im ok, and if anything.. i could have probably gone longer if i had to. and that motivates me to not spend even when i do have money. because I KNOW what its like to not have a dime to your name.

ive had friends call me stingy and mrs. scrooge but you know what.. ever since those four or five (LOL took me a while to learn) experiences of being completely bottomless boxers broke, i know that i have to help myself and i feel like such a stronger person because ive been able to pick myself up from having nothing, no money in the bank, no credit cards, no mom and dad to run to for quick cash.. to having a fully funded emergency fund, a stocked pantry, and a place of my own where i am comfortable.

i'm 22 too btw : )
you can do this. you just have to want it more than you want the **insert item you suddenly must have that you didnt know you wanted**

[cheappearls]

Hi Amanda.

Stay the heck out of the stores! If you need something, go and get that thing. Nothing else. Making a list and sticking to it no matter what really helps me from over spending. I'm implusive, especially when I'm hungry (haha!) so a list is my saving grace.

Plus, if you think you need something, wait a few days or longer. After the impluse to buy it is gone, you sometimes realize it was more of a want and it can wait until you really have extra money to spend if you still want it then.

[Spark]

Break down what you want into how many hours you would have to work to pay it off. Sometimes those new shoes aren't so great if you know you have to work two full days just to pay them off. I know it helps my husband.

After taxes and bills, exactly how much is that item worth in time to you?

Also sort through your stuff and figure out if there is anything you absolutely need. Make a small list so if you feel the need to shop, it is for something you know you need. My favorite bra had its underwire start poking out. I was certain I needed a new one until I actually went through my drawers. I didn't realize how many I actually had. I don't feel the need to go buy anything now.

Lastly stay out of stores unless you are specifically looking for something. Sounds simple but I love saving money by buying things on sale. But if I stay out of the stores, I find I'm not missing anything and instead I keep that money in my pocket. *sigh* I miss Target.

[Sari]

I find that having a picture of my goal posted somewhere helps me sometimes.

[Cricketlegs]

Once you pay off those little bills and come back and tell us, you WILL feel so good and PROUD--yes--Proud of what you accomplished and that just might motivate you into your next step.

You can do this!

Can you have a garage sale to make some extra cash JUST for paying off debt? Even $30 would pay off a couple of the little ones.

[babymakes5]

Have you considered consolidating your student loans?

[mikandmari]

Do you pay your bills online? When I decided to live frugally and pay off debt, I would make a decision NOT to purchase something... and come home and pay that amount to a bill online. For instance, I'd skip the new $18 shirt, and instead sit down at the computer and pay that $18 to one of my cards.

Most of my cards would only accept 4 payments per month, but since I had a few, I would just jump around. It quickly added up. Give it a try... seeing the balances begin to drop is great motivation !