Now it may come as no secret to anyone that I’m bad with money. I leave the house and my bank account will somehow already be £5 lighter. Even when I’m trying not to spend, I spend. I don’t know how I do it. It truly is a gift.
Growing up, I never really had money. So when I got my first student loan u bet I splashed the cash lol. And once you’re in that overdraft it’s pretty much impossible to worm your way back out again for good.
But along with this new found student loan income, I also suddenly had savings, for the first time in my life, in the form of my inheritance when my Dad died. Not good. I didn’t learn what an ISA is, and I still don’t know. Needless to say a lot of this did not stay saved.
So 2017 was my most spendy year.
I had pretty much zero self control. Spending became my go to, and I’d say I’m a self confessed comfort spender. Feeling sad? Treat yourself. Feeling happy? Treat yourself. Feeling stressed about money? Treat yourself. It was just too easy.
This is not to say I regret the money I’ve spent (well some of it maybe), but it didn’t make me happier either. So I guess it’s true, guys.
Don’t get me wrong – I’ve tried to save before. Yet somehow I always end up back in Mr Overdraft.
Looking at my online banking is like an online food diary with a dash of monthly spotify, car insurance and bills, and the
odd frequent late night ASOS/Amazon orders. I can’t resist next day delivery. And with my last and final term of uni starting next week, enough really is enough. I just can’t justify it anymore. So as a way to commit myself to the cause I’m writing this blog post in the hopes it will keep me on the straight and narrow ha. No more spending the £6 Harvey Nich’s delivery fee just to buy a £19 Fenty Beauty lipstick I can’t possibly live without. No more book hauls which will eventually end up on a shelf untouched. You get the gist.
Once again I’ve set myself a reasonable budget. And I just have to stick to it lol. For reals this time.
I’m thinking of heading back to this post in a couple of months with my updates on how I’m getting on living the budget lifestyle.
But for now these are the things I’m going to be focussing on.
01. Making use of my different bank accounts.
I’ve tried to do cash only but it’s 2018, it just ain’t happening. So rather than physically withdrawing my money I think the best way to stick to my budget is to transfer the allowance between my bank accounts weekly. My Barclays doesn’t have an overdraft so if I’m only using this account to spend, I physically can’t overspend. The student Santander has been a trap all along. It’s so obvious, I feel dumb for taking this long to acknowledge it… I’m also considering deleting my Apple Pay. This means business.
02. Making my own food.
Breakfast before I leave the house. A packed lunch if I’ll be at uni during the day. The usual money saving tips but also a less food waste kinda tip. To be honest, at this point in my life I’ve fully exhausted meal deals anyway. But I’m a sucker for buying food when I’m out and about. Everything in the world seems way more appealing than a soggy lunchbox. And one of my favourite treats is to buy breakfast. A warm pain au chocolat or a hot sausage sandwich with a tall iced tea lemonade from Starbucks. Dreamy. But I know I could easily recreate this at home for less $$$. I’ve already
ironically bought myself a KeepCup, with the aim of saving money and the environment in the long run. Homemade iced tea anyone? And don’t get me started on the Dominoes minimum spend.
03. Saving my money for better things.
My budget should allow for the occasional treat. And I don’t want this to be my usual material things – I have far too much stuff. But things like going to the cinema, eating something tasty in a restaurant, travel etc! The things I forget how much I enjoy, I’d like to be able to do more often. And I can if I prioritise my spending.
After all this isn’t about no spending at all. It’s about spending consciously. Asking myself do I really need this? And to be honest, no I don’t.
It sounds simple enough – stay tuned!