Budget
-n
A restriction on expenditure
The total amount of money allocated for a specific purpose during a specified period
I've seen quite a few bloggers going on a total spending ban for at least a month and while that is such a good idea, I'm not going to kid myself and pretend I can do it to because when it comes to spending money I just can't stop myself. So rather than torturing myself, setting myself up to fail and just plain cheating, as of next payday I am setting myself up an official budget to live off on a weekly basis.
Far too many times I have wanted something and convinced myself to buy it as a 'treat', or to cheer myself up or because I just can't live without it! In reality, a treat should be a reward for an achievement, a good cuddle can cheer me up, and if I've lived without something for this long it won't hurt to do without it, or at least save up for it.
Step 1:
Subscribe to a magazine.
Step 2:
Weekly allowance.
At the moment I seem to able to walk into Boots and spend £50 without even thinking about it, then buy clothes, shoes, food etc on top of that, so my weekly spending is getting completely out of hand. I need to learn to be stricter with myself - maybe this will mean taking a certain amount of cash out of the bank at the start of the week and leaving my card at home when I'm at work - lunch break shopping is a nasty habit!
Step 3:
Buy only what I need.
I do class makeup as a 'need' however it has to fall into the weekly allowance so will probably be bought at the end of the week after food bits, toiletries etc.
Luckily my new job is close to where I live so I am able to walk to work every day - this alone is going to save me £80-£100 a month in petrol money so that can go straight into savings and hopefully I won't miss it as I never had it to spend anyway.
This is the year my boyfriend and I are hoping to buy a house so I really need to stick to my budget and save as much money as possible!
Wish me luck! Is anyone else budgeting or saving up for anything? If so I would love some encouragement and support!
Step 1:
Subscribe to a magazine.
Out of three glossies and numerous gossip magazines I only every thoroughly read Cosmopolitan and subscribing to it for £15 makes a lot more sense than spending £3.50 on it each month.
Step 2:
Weekly allowance.
At the moment I seem to able to walk into Boots and spend £50 without even thinking about it, then buy clothes, shoes, food etc on top of that, so my weekly spending is getting completely out of hand. I need to learn to be stricter with myself - maybe this will mean taking a certain amount of cash out of the bank at the start of the week and leaving my card at home when I'm at work - lunch break shopping is a nasty habit!
Step 3:
Buy only what I need.
Luckily my new job is close to where I live so I am able to walk to work every day - this alone is going to save me £80-£100 a month in petrol money so that can go straight into savings and hopefully I won't miss it as I never had it to spend anyway.
This is the year my boyfriend and I are hoping to buy a house so I really need to stick to my budget and save as much money as possible!
Wish me luck! Is anyone else budgeting or saving up for anything? If so I would love some encouragement and support!
I'm quite good at budgeting for a set period - but once that set period is over I tend to splurge in such away that I may as well have been just buying stuff all the way along.
ReplyDeleteI don't think I could live frugally/only buying absolute necessities and haggling for a bargain all the time forever though!
@Lucy - Beauty and the Blogger - eek, I'm worried about doing that! I'm just going to have to try my best and see what happens!
ReplyDeleteI never actually liked spending money so for me it's rare to buy things (for me) out of impulse. I do spend a lot of money on eating out and that's the real trouble for me. But I hope you can save like you wish! I know how hard that can be... Good luck! =)
ReplyDelete@Naliadna - Thank you!
ReplyDeleteGood luck!
ReplyDeleteI'm doing ok with project 10 pan. Well, when I say ok, it's day 3 and i've spent the last 3 days on various sites adding make-up to the basket then logging off.
Torture!
I will support you through the tough days! :P lol
Linsay x
I'm not on a complete spending ban but ever since I've got my first job, I've always been careful on how I spend my money. I always buy products when they're on sale, I use coupons, I browse the net for the lowest price, I go to warehouse sales, etc. I go to Uni and I have a car, and I'm far from being poor for someone of my age. Hard work pays hard (= Good luck!
ReplyDeleteYou sound just like me, I spend money without thinking and think about it later 'eek'. I am hoping to move out and buy a house with my boyfriend in 2 years time so I am trying to save for my house deposit, so I need to set myself a budget plan too, great idea.
ReplyDeletehttp://miss-lv.blogspot.com/
good luck with this hun, im trying not to spend on stuff that i already have tons of, and so far its going okay :)
ReplyDeletea tip that mite help you not impulse buy - when your out and see something you tell yourself you 'need' like a lippie, eyeshadow or whatever, ask yourself what would you rather have - your own house this year, or the lippie - i found this helped me loads when i was saving for my house :)
good luck, im sure you will do it x
Great post - I'm trying to cut back on my spending and am actually doing better than I thought I would do...I can't remember the last time I actually bought any make-up which is surprising for me! Subscribing to a magazine is definitely a good way of saving money. x
ReplyDelete@smoosh_kissxxx - haha I do the same thing! Thanks for the support, and good luck with the rest of your project 10!
ReplyDelete@GABY - You sound really sensible with money, I wish I was more like that all the time!
@Miss LV - Good luck with your savings, it's so hard isn't it?
@corsets, crafts and cupcakes - Thanks for the tip, I will keep that in mind next time I see something I want :)
@LilyLipstick - Are you finding it easy then? I'm hoping I won't miss shopping too much!
Ooh good luck! I'm not great at saving money. I did a few years ago though, when i was saving for a holiday. The weekly allowance REALLY works. I find that if I give myself a set amount of cash and leave my cards at home, it really works. Good luck!
ReplyDeleteprettyinthedesert
I am horrible at budgeting! lol but I do need to start spending wisely.
ReplyDeleteGood luck with it!:)
Good luck!
ReplyDeleteI'm on a spending ban til March and it is actually driving me insane. If it weren't for the fact I managed to exchange a couple of bits for better bits in New Look the other day, I think i'd have lost the plot!
Once the ban ends, I'm going to be budgeting as well although I'm thinking of just doing a shopping budget as I generally budget everything else anyway...
Sorry for the essay!xx
@prettyinthedesert - I'm glad to hear the allowence works, I was planning on leaving my card at home!
ReplyDelete@Hannah Lebron - Thank you!
@Rebecca Lucy - You're so brave doing a complete ban, I couldn't cope with it!
I've just realised you may not seen my reply to your comment on my perfume post :P
ReplyDeleteIf you're wanting the SJP you can email me at linsaymcgarva@gmail.com and i'll happily send it out to ye, it's been used 3 times (if that) and it's got about 95% left it.
More than welcome to come have it, it's been abandoned by me haha.
Linsay x
award! :)
ReplyDeletehttp://smooshkissxx.blogspot.com/2011/02/award-versatile-blogger.html
Linsay x
Me and my other half bought our first house in May and its so, so worth it. After years of renting its great to have somewhere thats 'yours'. The process is the most stressful thing I have ever been through and you don't realise how much everything costs, but I wouldnt change it for the world :)
ReplyDeletesparkle-and-grey.blogspot.com
Good post, I will have to try this
ReplyDeletehttp://beaufashionxoxo.blogspot.com/