If you’ve been following this blog for a while you’ll know I have debt issues and am trying to work out the best way to budget for myself. I have a debt repayment plan and my household bills and food budget is always covered but I rarely make it from one month to the next without having to borrow or swap money around.
I tried keeping all my spare cash in a tub and just taking as i needed it – didn’t work.
I tried dividing into weeks and only using a weekly allowance – didn’t work.
So this month I tried in days. I had so much per day and that had to cover treats like a cafe drink plus the usual bread and milk. Anything left at the end of the day went in the tub. If needed I could use the tub money and mostly I did. It went on food.
And yesterday at the end of the month I had £1 left over. One whole pound. If you’ve never had money problems you may not understand how proud I am of that little pound. I’d had 2 birthdays (mine and my sons) I’d had a week off work and a trip to NOrth Yorkshire. I even went to the cinema. And I never had to borrow. I didn’t have to juggle money at the end of the month.
I made conscious decisions every day. On my week off I rounded the money into the whole week with the thought that I’d need more on the day trip but less whilst at home. The rest of the time I asked myself constantly if I needed to spend. That £1 is now in a savings tin. I have one of those where the only way to open it is with a can opener.
It stops me taking cash out and overspending. This is what I used to do when I had depressive days and how I ended up in trouble. I tried it last year with just loose change and the result was £90 saved in 2017. However because I was still struggling with the budgeting it didn’t last long. I intend to leave as long as possible this time and either use it for Xmas gifts or if I can avoid that save for something nice.
I can’t say it’s a perfect plan as it’s only been one month. I’m going to try it again and see what successes I can achieve in July