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Shoestring Budgeting

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  17917.1
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  Oct-23 12:46 pm

No matter what I do, I cant stop spending money on say, running to the store cause Im hungry for something, or random neat things I see that could be fun or useful for the apt...but not really needed. I feel that itch everytime I know Im getting paid, it tells me "youll have money soon, that means you can spend spend spend!" and I know I shouldn't, but I cant help it. The only way I have found that works to keep me from spending is having my boyfriend hide my debit card and check book. But, something comes up that I need to pay and im like YES i have my card i can get an energy drink at work (which im totally addicted to, damn caffeine). Thats 1.69 a day if I do get one everyday (sometimes ill have a home made cappuccino). I really want to cut up my debit card to REALLY stop me from spending, but I need it for bills and whatnot. Alot of my bills have the number saved, and I push a few buttons and bam, its payed for. Its so convenient but SO EASY TO USE! What can I do? I have tried writing down all of my silly buys and looking at the numbers to try to kick my habit but it doesnt work.. I think I am just deemed to having my boyfriend hide my stuff (he thinks its ridiculous)but its all I have. I also cant carry around cash either cause I spend it on energy drinks, random munchies, etc. I try to leave it at home but I just cant =( what can I do? Ive been dealing with this for a LONG time and nothing seems to help me, I really need some super good advice!
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  17917.2 in response to 17917.1
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  Oct-23 1:50 pm

Instead of telling yourself "no" all the time and living in fear of your debit card, say "yes", but with a plan.

Calculate how much you can really afford to spend each pay period on snacks, energy drinks, coffees, and impulse purchases. Take that amount and put it onto a prepaid visa card. Carry that with you to work and you'll know how much you can spend. If you spend it all the first week, you'll have to bring from home for the rest of the time.

Every few paychecks, put a little less on the card until you come to a point where it feels like you are treating yourself instead of depriving yourself. Come up with alternatives for the other days. Skip a day, bring something from home, etc. Put the difference from your original deposits and the new amount on a second prepaid card. Let the extra build up on that card for a really good "treat"--a new outfit, taking your boyfriend out to eat, whatever you want to save for. You won't feel like you are depriving yourself of your daily energy drink when you remember what the other card is building up to.

Your "treat" money will be on the card and you shouldn't have to have your boyfriend hide your checkbook and debit card. Just keep reminding yourself you have use the treat card only.

Annette

 

 

 

 

 

 

 

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  17917.3 in response to 17917.2
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  Oct-23 1:58 pm

Thats a good idea! There are many different pre-paid cards at my work that I can choose from, and I know I wont have to worry about them expiring and losing the money cause Ill spend it for sure..haha. I think ill still have Jason hide my debit card and checkbook though... then Im not tempted =(
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  17917.4 in response to 17917.1
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  Oct-24 9:41 am

Great advice, as always, from Annette!  :-) I don't really have anything else to add, other than welcome to the board!
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  17917.5 in response to 17917.3
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  lucy4980  Member Icon
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  Oct-29 7:43 pm

My husband and I are both on an allowance.  This is money we can each spend on whatever - no guilt, no questions.  The amount has changed over time depending on what our finances look like, but we started this system when we were watching our money very closely and absolutely had to make sure we did not overspend.  It works, so we kept at it.  Even though we have more money now and could be looser with our finances, we still maintain the allowance strategy because it keeps us from frittering away our money on little stuff. 

I don't keep extra money in my checking account, so I can't overspend without overdrawing my account.  We have a budget and we put the agreed upon amount in savings right off the top - before any bills are paid or any money spent on anything.  Then we pay the bills and so the only thing that is left over is spending money.  If I want to buy something that I can't afford with my allowance, I have to make a concious decision to take money out of savings to do it. 

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