supra-lover Posted July 31, 2006 Share Posted July 31, 2006 i have so many direct debits coming out i'm losing track of my hard earned cash, i'm always in my over draft and always being charged for not having enought money in there to cover the debits,, and £30 a time soon adds up so enough is enough i'm going down there saturday to see if they can help in anyway i.e tell me how much i need to put away every week or just take a certain amount every week out my wages to cover my bills.....anyone els do this???? Quote Link to comment Share on other sites More sharing options...
Homer Posted August 1, 2006 Share Posted August 1, 2006 Its a difficult situation of which your bank manager isn’t going to help much (apart from point out a few realities which you can do yourself). Just go through your last 6 months bank statements and add up outgoings and income. Categorise you outgoings and see which were really 'unnecessary' to see where you could save. I bet you could be a lot better off than you expected. Quote Link to comment Share on other sites More sharing options...
xksupra Posted August 1, 2006 Share Posted August 1, 2006 As above , the bank wont help that much, unless they think they can sell you something. Check out this site it has a really comprehensive budget planner. http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1089226742,17582, Quote Link to comment Share on other sites More sharing options...
how_supra Posted August 1, 2006 Share Posted August 1, 2006 Track them yourself!! Start your own planner - this is what I did, and I now know where I am each week, and I was in a mess. So start an excel spreadsheet start with current bank balance, list down all out your outgoings - including petrol and spending money - all direct debits, loans, etc [also note the dates in the month they leave your account], and put your wages at the bottom. This will give you an idea of what you spending and what you have left. Next look at moving all your direct debits to the start of the month, or around the date you get paid, and as they leave your account, update it. It will allow you to plan in advance any future expenditures and allow you to see what you have to play with on a monthly basis. Its all about habit, once you are in the habit of checking regularly [ie daily], then you will be in a much better position Then you should look at all unnecessary expenditures and see what you can cut down on and then you should gradually see an improvement. This goes with cutting down spending money. Quote Link to comment Share on other sites More sharing options...
Alex Posted August 1, 2006 Share Posted August 1, 2006 Go to the bank and get them to delete all old DD's and query any you don't know about/understand. Go back home, check through your last 6 statements as suggested, and make sure you're not still paying for something you shouldn't. If you've got a credit card - pay the min for a couple of months while you sort your self out. Packed lunches...I know it sounds stupid but, I found I saved a lot of money by not being lazy and making my own lunch. Also the bank may up your overdraft for x months to help you not incurr charges. If you promise to sort yourself out. Quote Link to comment Share on other sites More sharing options...
CJ Posted August 1, 2006 Share Posted August 1, 2006 If I was to be blunt, I would suggest that if you are in a situation whereby you cannot meet your DD's and are getting charged for going over your OD limit then maybe you should think about selling the Supra until you get back on track. Oh, and going to the bank manager and explaining that you are crap with money etc isn't a great idea as they will then think you are a worse risk than they did before you said anything! Quote Link to comment Share on other sites More sharing options...
Scooter Posted August 1, 2006 Share Posted August 1, 2006 This might help a little if you have alot of the £30 charges Quote Link to comment Share on other sites More sharing options...
Ewen Posted August 1, 2006 Share Posted August 1, 2006 Are all income and outgoings going through one account ? My daughter is in a similar situation and found it hard to keep track. We run a 'house' account seperate from our current account. All bills / DDs / credit card minimum payments etc come out of the 'house' account and we transfer enough money every month (or week if you are paid weekly) from the current account AS SOON AS IM PAID into the house account to cover the outgoings. We know that whats left in the current account evry month is free for other spending like food / petrol / clothes etc. The amount you transfer each week / month can be changed with a phone call, as and when you pay something off in full, or get another debt. It wont curb your spending, but it should help you keep track and save you incurring fees etc...your bank will certainly be able to help in this way. My daughter is still living on the financial edge, but at least she doesnt spend money that is needed for her regular bills any more. This all assumes you dont actually have more going out than coming in...if this is the case, somethings got to go. Quote Link to comment Share on other sites More sharing options...
mattanna Posted August 1, 2006 Share Posted August 1, 2006 Just got to budget, i have big mortgage and debts, but never in the red, used to go to pub quite a lot, but stopped in order that the supra could drink instead, just look at what you are spending each month and if a lot is on booze, eating out, cd's, clothes etc then you could save a fortune, i earn well now but have always been near fleeced as live to your means, but ensure essentials are covered first, afterall money has no other purpose than to be spent.I save £50 per month by cancelling mobile phone contracts and going pay as you go for instance Quote Link to comment Share on other sites More sharing options...
martin_a Posted August 1, 2006 Share Posted August 1, 2006 also check what the debits are for. If you have a few credit cards and loans why is that? can you mash them all together? Also if you have loans what APR are they at? I just called to Egg to change mine over because the bank were offering me half the rate and they matched it instantly saved myself a good few hundred quid. m. Quote Link to comment Share on other sites More sharing options...
poot Posted August 1, 2006 Share Posted August 1, 2006 also if your car insurance is high and you pay monthly (whilst incurring a % charge for doing so), do what i do - stick the whole lot on an interest free credit card and setup a standing order split over 12 months. Long as you make sure you balance transfer to another card before the interest free period ends, it can save you loads! Quote Link to comment Share on other sites More sharing options...
ManwithSupra Posted August 1, 2006 Share Posted August 1, 2006 If you want to have an idea of how much you have after outgoings use my attached spreadsheet this is what i use to find out how much i have left even after my lesuire and petrol spend. Anyone else is quite alright to use this as well. If anyone wants help with the spreadsheet then PM me Some of the instructions are on there. Quote Link to comment Share on other sites More sharing options...
Tattooman Posted August 1, 2006 Share Posted August 1, 2006 I know that feeling fella, everytime I look at my bank statements It sends shivers down my spine.... Quote Link to comment Share on other sites More sharing options...
supra-lover Posted August 1, 2006 Author Share Posted August 1, 2006 thanks ever so much for all your help.. i', going to sit down saturday and look at what i have to put away each week and stop spending money on myself ha ha excellent thank you guys...let you no how i get on Quote Link to comment Share on other sites More sharing options...
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