I can't save money - any advice?

Hi all,

Ever since I can remember I have had a problem with money - I can't seem to hang onto it. It's like I get an urge to spend everything as soon as I get paid and leave myself up sh*t creak for the rest of the month.

Is this something that can be rectified or am I consigned to live a life of always being skint?

Would any kind of therapy help or some other form of treatment?

I'm aware the obvious answer would be to just not spend it but if it were that simple I wouldn't be posting for help.

Has anyone else had a similar problem and overcome it?

I'm pretty much known as a scrounger at work as come the middle of the month I'm borrowing money, smoke's etc and it aint doing my self esteem any good.

How can I just leave my money untouched and only buy things that are needed and have the odd treat?

I used to be the same and at times get the urge to spend but as I'm a home owner now my priorities have changed.

What I did was create a spreadsheet and on it list all the outgoings that were standard, like water, TV licence, gas etc etc. I changed all the bills to DD as it's easier and you know they are paid on time so that's one worry gone. I also made the date of the DD's one day after pay day that way I couldn't spend the money before they were due.

After that I got the spreadsheet to divide what was left by 4.5 to cover a month. That then gave me a weekly figure I could use. I started shopping on Tesco/Asda direct so that (I know you pay for delivery but there's logic here) I don't go around the supermarkets buying things I don't need just because they are there. I then shop twice a month and batch cook stuff to freeze for work or in the week.

I also started to put any spare cash into a savings account like a 30day account or an external ISA so that by the time I had arranged to get the money I had been paid again so there was no point.

I do often get the urge to just spend but you have to get into the habit of keeping a record of what you're spending and giving yourself a budget.

Good luck

Mind you, the easiest way is to give your partner your money and get them to give you a weekly budget.
Im exactly the same, along time ago I used to take all my wages out after bills etc then give it too a reliable person and ask them to give me the money weekly (when I was on monthly pay) then it meant if I totally blew it, then It would only be a week I was skint. If that doesnt work literally try buying everything for the whole month on your pay day, food, travel pass, cigarettes etc. Hope that helps a little :)
You sound just like my brother. He is known in exactly the same way!! What he did was put his wages into my bank account. I pay his bills for him and then I only transfer money into his account for things he needs like food/electricity etc.

If you have someone close who could do this for you I would highly recommend it. It has worked wonders for him and now he is slightly better with money, doesnt spend it willy nilly!

I would say that you do need to treat yourself at least once a month, to a meal out, cd, movie, something like that, otherwise you will get frustrated with the money situation.

It really works, please try it
You Can Save Your Money If U Put Your Money Into a box a forget it till You need it badly
i had this problem a few years back this is what happened:

my parents would send me money every friday and by monday i would be broke so my best friends mom suggested to let someone i trusted keep my money that way the urge to go on a spending frenzy gets lowered cause you dont have the cash with you 24/7

so i started to have my grandma keep my money and i would only take out what was completelly nessesary. and by the end of the week i would still have like 50 dollars that i didn't go spending on some "random urge"
Oh my god! a person from my own heart. I am officially appallng with money. Whenever I get paid and see my bank abalance I have a compulsion to go spending, its like I dont see that theres and end to it. I seem to think I have a bottomless pit!!
Example: I was paid 4 days ago right, £1300 (just over $2000). I know have £280 (about $550) in 4 days!!! now I will be scrimping and living on baked beans for the rest of the month.
I think thats the problem, it a viscious circle. Because I have to go 3 weeks without much money, I go mad when I get it!

The best thing you can do is ask someone else close to you, a partner (you really trust) or better you mom, dad, sister?? to take control of your money. Tell them everything you need to pay out each month, and give them to control to do it.
Then they will make u an allowance.

Harsh but the only way to get used to living reasonablly.
I will be doing it!

Yep, I hate monthly pay too, I know how you feel. I can guarantee some smart4ss on here will have a go at you for smoking.
It's all about self discipline.............. admiting that your aware that your doing yourself no favours is a good start.
You have to have a goal..............like a holiday to save up for or a car or something you would really like, when you do this and achieve it you'll get a good feeling from it and hopefully it would make you want to do it again.
Stop and think the next time your ready to blow your doe and say to yourself ' do i really need this '.
Try it. good luck.
Only buy bread ,cheese,juice and eggs one month, you will save lots of money.
It might help to get your paycheck direct deposited to your bank. Start keeping a list of every cent you spend. Do this for a month. Also make a list of your long term financial goals. After a month you should be able to see how your spending habits are effecting your long term financial goals. Maybe that would be more of an incentive for you to curb your spending.
I feel that If you remember that you have money you will spend it . So forget that you have money Give it to your wife or relative whom you can trust.
The worst cure is to to end up on the streets and Starving. Then you really do get your priorities in order. I do not recommend this as a method of learning about the true value of money, but it does work, . You need to figure out why you behave this way. Is it because you are unhappy? Are you unwilling to take on responsibility? When you figure that out, hopefully you can attack the cause of your problem. I wish you success in whatever way you try
Do you have a girlfriend or a family member who can help you out with this? My boyfriend was exactly the same and this is the only thing that worked for him. Basically, when he was paid I would take his bank card off him and hide it. I would then give him a daily allowance to spend. A weekly allowance didn't work either because he'd spend the money by Monday! So daily allowance was the best! That way he was able to save money and make his wages last him til the end of the month. It really worked and now he's much more careful. i don't need to take his bank cards off him anymore because he knows exactly how much money he has to spend and how to make it last.
Hey; Firstly as you can see from the other answers, you are not the only one that has this problem. And no! there is nothing wrong with you. The problem is that you suffer from lack of self controll and/or confidence, so, getting someone to hold your money will definately help you get safely by for now but it will not help you to better your own dealings with your own money.

My wife is precicely just like you.... The,problem you have is that you know what needs to be done with the money but, the newest movie and or dvd on the market will dissapear totaly if you don't buy it right now while you have money. Or the trendy clothing shop will never again have a sale....
To change takes realy hard work and self controll. Firstly you should decide what needs to be paid when you receive your money. then draw up a budget stating what comes in and what needs to go out and what is left over.
If you did not put a cd or a new shirt etc. on your budget it'l have to wait until next month, you can then ad and remove things to your budget. Plan what you will need for the week and put that money inside an envelope and write on the envelope what that money is for.

I have a very easy to use budget that I have drawn up in an excell format, I will list my mail adres in the source list, drop me a mail if you want me to send it to you.

I realy hope you get it sorted, remenber, it takes time and hard work to work correctly with your money. And it will mean that if you go out to have a couple of drinks, if you bugeted for 2 you will have to force yourself to have just 2 no matter what your friends say. Healthy finances start with your willingness to improve them.

Good Luck.
This problem of private overspending has become a national epedimic that can be attributed to a lack of education provided by the public school systems they have allowed our nations children to lack the financial literacy needed in this day and age. To answer your question though the best way to prevent what you were saying about getting a paycheck and blowing it on STUFF heres what you can do to start saving some of it, you can set up a savings account and have part of your money directly deposited into the acount that way you never see the money. The rest can be deposited into a debit account for use on daily odds and ends. Its a fact that people can start saving when they decide to live within their means so try it for a month and see how it works out. = )

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