so, i'm not sure if this belongs in this forum, but i wasn't sure where else to put it.
i'm really really bad at managing money. i don't like to think of myself as a meterialistic person, but in all honesty i sorta am. i looove to buy things. even when i can't really afford them. i need to save money for school and to get my own place but it's always a constant struggle, i can't control my urge to spend most of the time, and my i'm constantly towing the line with my bank or over-drawing it. not to mention the bad credit and debt i've already mananged to rack up at age 22. it's embaressing to me so i dont' like to talk about it much. but what i'm asking dose anyone have any good advice for living with in their means, actually sticking to the budget and saving. resisting the constant presure in this society to spend, spend, spend. have, have, have.
i used to go to debtors anonymous meetings (12 step for people who spend to much) beucuse my parents made me, but i stopped going becuase everyone was atleast 20-40 years older pretty much a different generation than me and while they were nice people i couln't relate with them much and thats not met to be ageist they were just at very different places in their lives and i felt like a total outsider. most groups in my area have that same age demographic.
so, yeah i've come to the point where i realize i'm going to have a hard time reching my goals in life (getting through school, moving out on my own, traveling) if i dont' start managing my money better. i'm sick of feeling stuck in my life and i realize this is one of the areas thats keeping me where i am.
saving money and resisting the urge to spend
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Fri, 2005-07-15 13:18
#1
saving money and resisting the urge to spend
Hey I moved this to domesticities where I think it will get more responses.
As for your question, I dont have any advice for you but I really sympathise. I have overdrawn my account more than I would like to admit, and I am in debt also. One thing that does help is kind of lying to myself about how much money is in my checking account, I always make it look in my checkbook like there is 20$ less then there really is. So maybe that would help. Good luck with this!
K, I went through the same thing when I was trying to move out on my own (and I'm going through it again, cause I'm trying to move out on my own again), I have no advice for actually saving money, I'm bad at that. I got rid of my bank card, so I actually have to go to the bank (no small feat with four little ones in tow), made me spend a little less.
Then I thought, well if I HAVE to buy something, why don't I buy something that I will really really need for when I get out on my own. So when I DID shop, I bought dishes, pots and pans, stuff you have to have, and I always shopped the sales. It got rid of my need to buy crave, but I got something that I was saving for, then I just packed it away. I don't know if you live with your parents though, if you're just trying to move and you have all that stuff I guess this won't be much help. Sorry.
I'm bad with credit cards. SO thinks my credit card is now nearly completely paid off when really it's up around 700 dollars. So I posted for help in my LJ, and someone gave me the idea of filling a tupperware dish with water, throwing my CC in there and keeping it in the freezer ;) I still really feel the urge to use it, but am not going to wait 3-4 hours for it to thaw out!
Damn, good question. I don't use my credit cards anymore. I closed all of them. I have tried to put priorities first, like bills and stuff. Then if I have extra cash I will buy a latte or some clothes or something. I try to write less checks just in case they bounce, but sometimes it's hard... and if I carry cash on me, I have a bigger tendency to spend it. Good luck.
i like to have things too. but i go to the library & goodwill. i think you can fufil the urges without breaking the bank. dumpster diving also is pretty good too. & garage sales. and swaps.
Maybe you could try debtors anonymous, again. I understand your point about the average group member being in a different place than you, but if you think about it, it's probably because they waited until middle age to admit they had a problem and then work to solve it. In general, young people tend to be optomistic and sometimes feel invincible as though they can solve thier debt problems before they really begin to hurt.
Go to freecycle.org and sign up for your local group. If you have an active group, you will be able to score cool stuff for free, maybe even several times a day. In the last 7 days, I've picked up nutrisystem foods, a cappucino maker, a bg of clothes, a polaroid camera, and bubbles for my wedding. Anytime I have a desire to shop, I pick something up on freecycle. And instead of putting items on ebay (for more money to buy more) I give stuff away to other freecycle members.
Save a certain fixed percentage of every paycheck and DON'T TOUCH IT.
If you live with your parents for free, pay them rent every month and ask them to save it for you. This will get you used to bugeting for rent and give you an easy way to save.
when i was 22 i was in huge debt... first thing i did was close all credit card accounts. if i dont have money to buy something, i dont buy it.
right now... i get paid every two weeks. the first thing i do is put 50 into my savings account.. and I never touch my savings account unless its for a unexpected bill or emergency.
next i pay all my bills. even if they arent due yet, i send them money. then i go to the grocery store with a list and buy only what is on the list. the rest goes fifty fifty, to the saving account and to my pocket for spending money.
ive gotten really good at living on a very small amount of money. we eat at home (haha or my moms) more than we ever have. we go to drive in movies that cost 7 bucks instead of the regular movie which was alwasy around 15-20. we go to the library, or go to barnes and noble and hang out for a couple of hours reading and playing with thier trains. i rarely go out but that for lack of child care. ive been going to thrift stores a lot lately. i only do laundry when i have enough for a large load and quit go to the dry cleaners all together. i go the the hair school to get hair cuts instead of anywhere else. i make coffee every morning instead of stopping somewhere.
hope that helps