The Street > The Lounge
Debt/Credit Score/Budgeting
Danno:
I'm a budget king. I have set up my online banking so that two days after pay day every month, money goes into 6 different accounts which are all set aside for different things. I've got accounts for mortgage/bills/food, holidays, clothes, savings, car maintenance (MOT, servicing and repairs kitty) and even put money aside for Christmas/birthdays. Anything left over is to do whatever I want with that month.
If you can do that and pretend that the money in those accounts doesn't exist unless it is for those specific things then there aren't many things to pop up that can screw you over financially. Another thing that I do is look at what's in my spending account and divide it by the amount of days left till payday...a bit like when you're on holiday with foreign currency. It gives you a good idea of what your disposable income is for the month by the day and makes you keep on eye on what you are wasting money on in the week. When you hit halfway through the month there's shit loads of money left per day and it doesn't feel so bad to buy expensive shit.
Dr. Steve Brule:
Yeah that's definitely a big key to success, all my direct debits / mortgage / bills come out the day after payday, makes things so much easier when it comes to budgeting and giving you a clear idea of what you actually have.
One thing I would definitely recommend if you can afford to, is overpaying your mortgage. I put an extra £100 a month into mine and it knocks years off it.
Sasha:
I spend all of my money on booze and cocaine. $2300 a month sounds retarded to pay out. I pay £240 a month for my rent and phone bill.
ginger:
What's an 8 ball of charlie go for in the UK?
paranoidmexican:
So one week down and I realized I spend about $200 on breakfast/lunch a month! Started cooking, made some spaghetti and now I've got lunch for 2 days. Crazy how you think "eh what's 10 bucks" adds up quick.
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