Budgeting

[Shar]

Does anyone do this and if so how does it work and do you find it effective?

I personally am teribble and end up starving myself because I end up so broke

[buttons]

give my mum my bank card lol ill prob be terrible once ive moved out. how about getting money and taking what you NEED (through totalling up wat you need that month and only taking out that amount) then putting the rest into a savings account? that way u won't be going back and forward to the savings unless you're desperate for money and you'll also have left over to spend. im the type who would make a budget timetable at the beginning of every week and stick to it though.

[Special]

when i spend too much in a week i'll ban myself from using my debit card and withdraw say £60 for that week and it has to last

[Phil]

No! Omg I am awful at budgeting! I'm such an impulse buyer! It doesn't help that I'm getting paid like NOTHING every week because of hardly any hours in work. I can't even afford a hair cut right now :'(

[Kardan]

I don't end up budgeting, I just tell myself to not buy things, I don't find it very difficult :P My girlfriend budgets though, gives herself a set amount every week and doesn't go over. Just split your money into equal parts for each week you need, with some left over for emergencies?

[Absently]

my problem is that i have too much money for my own good. i tell myself not to touch it, but i can't help but feel ah a little bit won't hurt! i try to put away 50 every week and not touch it and just live off the rest i have.

[Tom]

When it comes to buying things for myself, I rarely buy anything. If I have to, I set myself a budget and just tell myself I can't go over this (usually because I'll need the rest of the money in the future for something already planned).

If I don't need money in the future, I'd end up just spending everything.

[Rozi]

I'M SO AWFUL
I'm literally the worst at spending because I get paid a fairly ok amount, and have very little essential costs except for travel and a monthly phone bill.

When I go to uni I'm going to budget per week, and have a maximum I spend on food. and alcohol....... maybe.

[Shar]

Thanks for your advice :) I think I'll try putting money aside for each week and giving my debit card to my sister or something. I usually put money aside for phone bills and travel but when it comes to money for grocery shopping and stuff I usually go wrong.

Rozi that's what I told myself..seriously stick to that plan

[Inseriousity.]

I take out the week's budget then spend it on what I want. This means if I splash it all out straight away then the rest of the week I have to go without so you learn to be sensible and not to go OTT. I don't need to give my bank card to someone else because I have the willpower not to go overboard but if you can't then it's a good idea to give it to someone else. This idea that you need to be completely independent when you're 18+ is wrong. It'll become a habit eventually and then and only then could you keep your card on you without a second thought as to going over budget.

[Zak]

I try to save but it's very hard when your girlfriend wants to go on a zillion holidays (and she doesn't have a full-time job) :P

I have lots of money in the bank atm but I want to buy a car with it.. as I've just paid for two holidays

[JACKTARD]

I'm usually pretty good. My 0% overdraft helps but I avoid going into it by more than £20. I have an account which I dump all my student loan and stuff in and transfer my budgeted amount for each week into my main account so it's really easy to keep track of how much I have left for the week. I give myself £70 - £25 on food, £10 on unexpected payments, £35 on alcohol and going out. Priorities haha!

[Daltron]

I have 4 bank accounts with the same bank and whenever I get paid or any money comes my way they split it 4 ways into each account lol. One is for general expenses and bills like phone, one is for my textbook savings, one is for car saving and other is for spending how I please :D (And like 2 out of 4 have high interest or something so it builds it)

Other than that I don't budget at all

[Metric1]

im awful at it.