I tend not to stick at such things, so this might be yet another whim that will fizzle out just as surely as many of my other bright ideas have done in the past…. but since I’m in something of a pickle financially, I’ve decided to write down all my weekly outgoings to make a visible record of what I’m spending my money on and also to deter me from overspending what I haven’t got and can’t afford to spend.
The household bills are almost all paid for using the marvel of Direct Debit (the bills/invoices/utilities etc are all paid out of my bank account automatically each month) but I really don’t have a disposable income to speak of and what I do have, has to stretch an awfully long way.
With my daughter’s prom fast approaching, and the fact that she was desperately in need of a new pair of specs and I had to buy her some last week (thankfully Vision Express have a brilliant offer on at the moment)…well, the purse strings are getting ever tighter. In fact they couldn’t get much more restictive. My debts won’t be cleared for another couple of years to come and I have absolutely no job prospects or even the hope of being employed for the hours I need in order to give some much needed stability to my situation and although I thought I’d already cut back loads, I decided that it was time to take a closer look at my poor financial situation and see if there was any more that could be done to improve it.
Frankly if the rug beneath me gets pulled at any time in the reasonably near future, bankruptcy will be the only option. However, since I need access to an overdraft/credit as there is no ready cash available, that’s a prospect I don’t even want to contemplate. With all the other worries and responsibilities I have right now, I am trying my best just to keep myself from wallowing in self pity and not to become despondent.
Last week I discovered another hiccup in the finances…my old E-Card site hosts have been unscrupulously continuing to take money out of my bank acount despite my contacting them and my wanting to terminate my agreement with them….and I have now had to have my debit account frozen (hence, I can’t use my bank account for a week!!) so as to set up a new account for which my old e card hosts will not have my banking details to take more money from me. It was only a pound a week to have my old ecard site hosted, but I found somewhere that could provide a btter service for only 40p a week and I chose to go with them instead.
So anyway, from a couple of Saturday’s ago I have been writing down what I have been spending each day…and do you know something? It can be quite a shock to see your purchases written down! Especially when you ask yourself,
‘Did I really need to buy that?’.
I mean, i don’t buy extravant things, I don’t have the money for them, I’m talking about basic things, cutting back on stuff that costs only a pound or two can make a difference though, when things are tight. It all counts when you are as financially challenged as my family is.
I would highly recommend those on a tight budget having a go at this if they don’t already do so, because I tell you something else, till receipts are easy to lose and if you are anything like me, I am always forgetting what shops I’ve been in and how much money I have spent. BUT just as importantly, the more financially affluent probably SHOULD do this too as to be honest with you, I’ve been appalled recently at the financial waste and uneccessary spending I’ve witnessed in the lives of some of the people I know personally, some of whom claim to be as financially challenged as I am, yet all the while knowing they have triple the amount incoming each week and certainy more financial security and savings than I do(I can’t actually recall the last time I had any savings!)!
I originally got in to debt through necessity, but wil also admit that I may have made a few financial mistakes along the way and perhaps I haven’t always been a good steward of my finances, but I have paid the price over and over, and will be paying it for at least the next 3 years…. having said that, those who have more make just as many (if not more) mistakes and can be just as poor stewards of their finances.
Anyway, as for the budgetting I am finding it beneficial and hope to continue with it.
Why not try it, you might be surprised at just how much you are spending unecessarily.