August 29

How To Stop Being A Payday Millionaire

What is a Payday Millionaire?

A millionaire doesn’t worry about whether or not she can afford to eat in that restaurant. She’s hungry, she likes this place so in she goes. When she sees a dress she likes she does not turn over the price tag and wince. She probably doesn’t turn over the price tag at all. She just buys three – one to keep at home and one to keep at each of her holiday houses.

A payday millionaire also spends without thinking about it – but only when she has just got paid. After a few days of joyful splurging, she reigns it in sharply and lives like a pauper for the rest of the month. Mainly because a few days as a pretend millionaire have left her with barely enough to get by…

Does this sound like you? It certainly sounds like me.

Why Does Payday Bring Out Our Inner Kardashians?

I can’t tell you why your spending goes stratospheric when you get paid but I have been doing a lot of thinking recently about why mine does. I think it comes down to five things.

  1. I want to play. I have been very grown-up and sensible and responsible with money for several weeks but now my inner child would like to come out to play. She wants to just run about without fear of consequences. She lives in the moment and at this precise moment she has plenty money!
  2. I want to reward myself. I have kept our finances afloat for another month and now I want some recognition for that. I deserve some recognition for that. So, emboldened by the reassuring number of pounds in my paycheck, off I go to treat myself.
  3. I want to relax. I feel like I have been in a permanent state of financial emergency for weeks and now that it’s over I just want to completely relax my guard and not have to think – carefully – about every spending decision. Actually, I don’t want to have to think at all about any spending decisions  – so I just don’t.
  4. I want to feel secure. More than anything, I want to feel like I have enough – more than enough, in fact. I want to feel like I am definitely not just one bad spending decision away from financial disaster. I want to feel that I can spend carelessly without any harm. I want to feel that it is safe, at last, for me to take my eye of our bottom line. And, for a few days, relaxing my guard does make me feel that way. It’s a good feeling. And then it’s not.
  5. I want to make things happen right now. The last few weeks I have been stopping things from happening. Expensive things. It feels pretty negative after a while. Now I want to inject fresh life into my wardrobe, or set up a little holiday or get Tiny Tartan a new bike, or organise a girls’ night out… I want to make things happen. I want to be the driving force. I don’t want to be the brakes. And spending on things I have held back from makes me feel like I am in the driving seat. Somewhere inside I know I am about to turn off the money again – but that makes the need to use money to make changes all the more urgent.

 

How do you fix it? I don’t know yet, but I suspect that recognising the need my payday splurges serve is the key. Because it is all about emotional need. Things we actually need in the real world (new tyres, a new work outfit, etc) go in the monthly budget. No, the splurging is about meeting my own internal needs. They are valid needs but splurging is not a sustainable way of dealing with them.  So my challenge for the next few months is to try to find other, non-spendy ways to meet those same needs.

At this point, I would love to give you a list of ways to stop being a payday millionaire. Hell, I’d love to give me that list. What I have at the moment is some vague ideas, slowly forming in my head, that I will refine and try out over the next few months. And then I will get back to you and tell you what worked for me – maybe it will work for you t00. What about you? If you have any ideas, please add them as a comment.

 

August 20

Thrifty Things To Do This Week – Get Kids’s Shoes For Less

Week 4 – August 20th, 2018

It’s the fourth week of a five week month – if you have the time, Take Stock and Tackle One Big Spend

It’s that special time of year when I need to start the annual battle to kit out the kids’ feet without kissing goodbye to a small fortune. Joy. This has been a Big Spend for us for long enough, though, that I have developed some ways of tackling it. You can read everything I have learned about Cutting The Cost Of Kids’ Shoes – written a few years back – and then you can pause and smile wryly at my naive assumption that this was all there is to keeping shoe-shopping to a sensible budget…

I thought I had it sussed. The kids were kitted out in new shoes that protected their little feet as well as my small budget. Then Tartan Boy hit adolescence and the goal posts moved overnight.

Suddenly it wasn’t enough that the shoe was the right size – it had to be the right brand too. A branded shoe is never a budget shoe – they start out at a ridiculously inflated price and no 50% off sticker can bring it down to the same level as a discounted shoe that started out at a lower price. So branded shoes were a step too far for me. But non-branded shoes were a leap over the cliff-edge of cool for Tartan Boy. Problem.

You can read how I (almost) solved it in What To Do When Your Kids Want Branded Shoes And You Want To Stay On Budget. Although, to be honest, it’s less a problem you can solve, more a curve you can try to stay ahead of. So if you have any other secrets of sane shoe shopping, I would love to hear them. Please share them in the Comments below.

I will be back next week with a fresh Thrifty Habits Planner and advice on how to avoid being a pay day millionaire.

Free, Downloadable Thrifty Habits Planner To Keep You On Track

Click here to download your copy of this week’s free Thrifty Habits Planner.

So, you want to get into the habit of spending less without putting in more effort? You need something to remind you what to do and when, so you don’t have to keep thinking about it. The Thrifty Habits Planner is a simple tool to help you do just that. Use it to pencil in which thrifty things you plan to do this week and to pin yourself down to when you plan to do them. If you take control this way at the start of the week, you are far more likely to have stuck to your plan by the end of the week. Sticking your plan up somewhere you will see it every day helps you to stay on track too.

Take time at the end of the week to give yourself a little treat as a reward for your thrifty efforts. Little splurges will actually help you to stay thrifty – read this to find out how.

 

July 27

How To Budget, Part 3

Making A Budget And Sticking To It

So, you have worked out what your personal values are, the things it is important for you to spend money on. And you have worked at writing an honest budget, one that prioritises the things you value, covers the things you urgently have to pay for, and doesn’t go over what you actually have to spend. What next?

Your budget is just words and numbers on a screen/page/scrap of paper. It becomes real when you actually live it. Sounds obvious, right? But I know for a fact that I am not the only person to sail through the month with a budget somewhere that bears no relationship whatsoever to what I am actually spending. So once you know what you  are planning to spend you need strategies for making sure you stick to that.

Why Don’t I Have Enough Willpower To Stick To A Budget?

Willpower is not an effective strategy because you can only use it when you are paying attention to your spending –  sometimes you will be using your brain for other stuff while you spend. Plus, using willpower takes mental energy and that fluctuates wildly from day to day and even from hour to hour. So some of your spending will happen, inevitably, when your willpower is low. And willpower is needed for other things too – if you use it all up on your spending you are going to have less of it for other important areas of your life. No, you need something other than willpower to make sure you really live your budget. Here are the strategies that work for me – try them and see which work for you too.

Eight Easy Strategies To Help You Stick To Your Budget

  1. Write it down and put it somewhere you will see it every day. Whether it’s a sheet of paper stuck above your kitchen sink, or an app on your phone, make sure it is right in front of you at least once a day every day or you will lose track of it.  Do not just have a budget in your head. Your head is very good at conveniently mislaying your budget when it wants to go shopping.
  2. Link checking your budget to something else you do every day to trigger you to check it. Tuck it behind your bathroom mirror and check it whenever you brush your teeth. Or put it beside the cooker and check it over while you are stirring your evening meal. Or go over it when you are stuck in traffic on your daily commute… Tick off everything you spent money on that day and add the amount you spent.
  3. Keep it real. Budgets are an idea – they are not real money. Try to deal with real money as much as you can. Don’t use plastic unless you are very good at checking your balance daily. Lift hard cash and spend your budget that way. We are generally more realistic about how much we can spend when it is actual physical money.
  4. Tweak your budget as you go along. Your budget is just a prediction and sometimes your prediction of how much something will cost will turn out to be inaccurate. That’s OK as long as you make up the shortfall somewhere else in your budget. Make sure you adjust an area of your budget that can take it. If you have a bill to pay, you can’t spend less on that, but you could cut what you planned to spend on treats, for example.
  5. Never let other people run your budget. If your budget for outings is low don’t let a friend talk you into a pricey night out. If your food budget is running low don’t let your kids badger you into buying expensive treat food. Just keep coming back to what you planned to do with your money and stick to your guns.
  6. Hide your surplus. If you are hoping to have a surplus – even just a few pounds – by the end of the month, hide it away at the start of the month. Put it in a separate account or in a separate purse. You are less likely to spend it that way. If your budget doesn’t work out and you have to spend that money then you can easily get it. But you won’t just spend it without even noticing.
  7. Set aside spending money. By all means have money just for dipping into if you can afford it. But keep the money you can afford to spend without thinking about it in a totally separate place from the money you have budgeted for other things. If you don’t, you will start to treat all your money as pocket money and suddenly it will all have vanished. Trust me on this one – I have been there.
  8. Put money straight into separate savings accounts on pay-day. We have different accounts for long-term savings, short term things like holidays or Christmas, and an emergency fund. Sometimes the amount we are able to put into each is microscopic but putting money into these accounts right away makes sure that these few pounds were still there at the end of the month. I use standing orders to do this so I don’t even have to use a tiny amount of willpower to make myself do it.
May 28

Thrifty Things To Do This Week – Budget For The Real World

Week 4 – May 28th, 2018

It’s the fourth week of the month: if you can make the time, Write a Budget and Share Something.

Last month I invited you to get your own values clear in your head before you start planning how to spend your money. This month it’s time to get your own spending limits clear in your head before you start spending. Why does that matter? Let me tell you a story.

It’s a story about me – an accidental (that part is another story) stay-at-home mum who had lots of time with her kids but very little money in her purse. In spite of my limited spending power I went ahead and spent. And then, to my great surprise, discovered half-way through the month that we had zilch left. I spent only on things we valued, things that were important to me and my family – there was nothing wrong with what I was spending money on. I bought in sales, shopped around for bargains, bought materials to make things myself… there was nothing wrong with where I spent my money. But there was a gap between what I wanted to spend our money on and the amount of money we actually had to spend. And our financial security was dropping down into that reality gap and disappearing every month.

Budgeting saved me and it can save you too but only if you get in there and do it at the start of every month. And only if you work with the real not the ideal – planning to spend what you have and not what you wish you had.

So this month I invite you to think about how to draw up a budget that fits your values but also fits your reality. In How To Budget, Part 2  you can learn how to spend in the real world not just in your ideal world. Good luck!

I will be back next week with a fresh Thrifty Habits Planner, some creative inspiration for free DIY projects and a recipe for Lemon And Poppy Seed Muffins.

Free, Downloadable Thrifty Habits Planner To Keep You On Track

Click here to download your copy of this week’s free Thrifty Habits Planner.

So, you want to get into the habit of spending less without putting in more effort? You need something to remind you what to do and when, so you don’t have to keep thinking about it. The Thrifty Habits Planner is a simple tool to help you do just that. Use it to pencil in which thrifty things you plan to do this week and to pin yourself down to when you plan to do them. If you take control this way at the start of the week, you are far more likely to have stuck to your plan by the end of the week. Sticking your plan up somewhere you will see it every day helps you to stay on track too.

Take time at the end of the week to give yourself a little treat as a reward for your thrifty efforts. Little splurges will actually help you to stay thrifty – read this to find out how.

 

April 16

Thrifty Things To Do This Week – Work Your Receipts To Max Your Cash

Week 3 – April 16th, 2018

It’s the third week of the month: if you can make the time, Preserve Something and Review Your Spending

Reviewing your spending – taking time to go over your receipts or bank statements and work out where your money is going – saves you money by helping you stay in control of your own spending. But… could it help you save money in other ways too?

I have been reading 6 Simple Ways  To Save Money By Tracking Your Receipts on Wise Bread. It has given me some ideas for how to make more of this thrifty monthly habit. I love the idea of using my receipts to actually make money once I have used them to help me save money and spend less. Take a look and see which ideas you could try.

Think this all sounds like too much hassle? Set yourself a time limit – fifteen minutes, say. Nothing seems like too much effort when you only have to spend quarter of an hour on it. Or do it in the advert breaks while you watch TV. Tiny effort, big results.

I will be back next week with a fresh Thrifty Habits Planner and advice on how to kit kids out for school on a budget.

Free, Downloadable Thrifty Habits Planner To Keep You On Track

Click here to download your copy of this week’s free Thrifty Habits Planner.

So, you want to get into the habit of spending less without putting in more effort? You need something to remind you what to do and when, so you don’t have to keep thinking about it. The Thrifty Habits Planner is a simple tool to help you do just that. Use it to pencil in which thrifty things you plan to do this week and to pin yourself down to when you plan to do them. If you take control this way at the start of the week, you are far more likely to have stuck to your plan by the end of the week. Sticking your plan up somewhere you will see it every day helps you to stay on track too.

Take time at the end of the week to give yourself a little treat as a reward for your thrifty efforts. Little splurges will actually help you to stay thrifty – read this to find out how.

 

April 9

Thrifty Things To Do This Week – Get Big Savings From A Tiny Garden

Week 2 – April 9th, 2018

It’s the second week of the month: if you can make the time, Try A New Free Or Cheap Activity and Grow Something.

It is Spring! Officially!! No matter what the view out your window might be telling you today… I used to find this a pretty blah month before I got into gardening. Now I notice all the tiny little signs of life around me with keen interest because they are the start of the countdown to gardening season. But they are also the sign that our lives are poised to expand back into the outdoors, after months cooped up inside. I need no encouragement to get outside but the Tartan Kids are a little harder to persuade. When Tartan Boy himself was very wee he needed no further persuasion than a scavenger hunt. He would do anything for a clipboard and a pencil. Tiny Tartan is a tougher nut to crack – he still gets the clipboard and pencil but he also gets a Smartie for each item on the list that he finds. Tartan Boy also gets one, which motivates him to help his little brother find some of the trickier items. Even in the great outdoors there is a place for bribery and corruption… You can find lots of different printable scavenger hunts for Springtime and beyond on the Tartan Thrifty Do Something board on Pinterest.

It’s time to start thinking about your garden if you have one, or your balcony, or even your windowsill. There is no space so tiny that you can’t grow something in it. A few years ago I set out to turn my very small concrete jungle into a tiny forest garden, so pretty you could eat it.  I spent several months building up layers, starting with trees and other tall structures to add height. The idea is to grow a garden that looks good enough to spend time in but that also saves you money by providing some food. In a patch our size it was never going to make us self-sufficient, but it could give us a lot of fresh herbs, and some fruit and  vegetables.

Since then, it has been flattened several times by winter storms, trashed by several months of building work inside the flat, then neglected while I devoted the next year to redecorating the flat. Even the worms in the worm bin turned up their tails and died during a temporary spell in a patch of sunlight. But the bones of it are still there – the trees took root, my perennials are pushing up through the soil as I speak and my herbs are thriving even though they do need a good trim. I am looking forward this summer to getting it back on track. What are your plans for your patch – however small – this year?

 

I will be back next week with a fresh Thrifty Habits Planner and a suggestion about how to use the shopping you have already done to save you money.

 

Free, Downloadable Thrifty Habits Planner To Keep You On Track

Click here to download your copy of this week’s free Thrifty Habits Planner.

So, you want to get into the habit of spending less without putting in more effort? You need something to remind you what to do and when, so you don’t have to keep thinking about it. The Thrifty Habits Planner is a simple tool to help you do just that. Use it to pencil in which thrifty things you plan to do this week and to pin yourself down to when you plan to do them. If you take control this way at the start of the week, you are far more likely to have stuck to your plan by the end of the week. Sticking your plan up somewhere you will see it every day helps you to stay on track too.

Take time at the end of the week to give yourself a little treat as a reward for your thrifty efforts. Little splurges will actually help you to stay thrifty – read this to find out how.

 

March 20

Thrifty Things To Do This Week – Make Your Own Rhubarb Gin

Week 3 – March 19th, 2018

It’s the third week of the month: if you can make the time, Preserve Something and Review Your Spending

In fact, this is as good a time as any to remind yourself why you are reviewing your spending at all – and why storing all your receipts is a vital part of that process. Click here for more information. It is impossible to be truly in control of your own money if you don’t actually know where it is going so I consider these to be two of the most vital thrifty habits. At one point we even had a counter-top device for storing ours, split into categories. To be fair, this was not so much because we needed to be that thorough, as because we had found an old theatre ticket dispenser and needed an excuse to use it. The old ticket holders were just the right size for receipts and it looked lovely sitting in our kitchen. These days I keep them rammed into an old pencil case in a kitchen cupboard. And – quite honestly – some months I don’t even do that. I have been at this for so long that I can get through a month or two without watching it too tightly. If something changes in our circumstances though (moving house, changing job, major illness, going on holiday…) I get right back on it, because those are the times when our regular spending habits drift. When I find that our spending is unaccountably high one month I go right back to storing every receipt and reviewing our spending to pinpoint where our money is leaking from. If you are just setting out on your journey towards being thoroughly thrifty, don’t skip these ones!

This is also a good time to make rhubarb preserves, as pink stems unfurl vivid green leaves in forgotten corners of garden up and down the land. I have an enduring passion for rhubarb. In my childhood it was quite normal in springtime for children to be handed a cup of sugar and a stick of rhubarb as a sweet treat. We would dip the sharp rhubarb sticks in the sugar and then bite off the frosted stem tip – a divine mixture of sour and sweet that was wonderful on the taste-buds but terrible for teeth. It has been almost forty years since I last tried this, and my mouth is still watering just thinking about it. If you want a slightly more sophisticated (and long-lasting) way to enjoy sugary rhubarb, try turning it into jam with the River Cottage rhubarb jam recipe or make your own rhubarb gin with The Craft Gin Club’s recipe. It is incredibly easy to make and requires no cooking or specialist equipment. If you want something more savoury, try Delicious Magazine’s idiot-proof rhubarb chutney recipe.

I will be back next week with a fresh Thrifty Habits Planner and advice on how to buy happiness.

 

Free, Downloadable Thrifty Habits Planner To Keep You On Track

Click here to download your copy of this week’s free Thrifty Habits Planner.

So, you want to get into the habit of spending less without putting in more effort? You need something to remind you what to do and when, so you don’t have to keep thinking about it. The Thrifty Habits Planner is a simple tool to help you do just that. Use it to pencil in which thrifty things you plan to do this week and to pin yourself down to when you plan to do them. If you take control this way at the start of the week, you are far more likely to have stuck to your plan by the end of the week. Sticking your plan up somewhere you will see it every day helps you to stay on track too.

Take time at the end of the week to give yourself a little treat as a reward for your thrifty efforts. Little splurges will actually help you to stay thrifty – read this to find out how.

 

April 24

How To Budget, Part 1

How To Budget – Laying Your Foundations

Budgeting is about making sure your money covers the things you really want it to cover, juggling various needs to make sure the things that really matter to you don’t get left out in the cold. So before you even begin to crunch the numbers, it is vital that you clarify what you really value. One reason budgets so often fall by the wayside is that they aren’t a true reflection of what we really want and need. We only really get behind something if it really matters to us. Imagine, for example, that you are budgeting for huge mortgage payments towards a beautiful home when what you really value is time with friends and family. Over time you find that coffees, meals out, weekends away, gifts, phone bills, and a whole heap of other “keeping in touch” costs eat into the money you budgeted for your mortgage.

Does that mean you are bad at sticking to a budget? Or does it mean that your budget did not reflect your real values? Remember that one of the Principles Of Thrifty Living is to Work With The Real Not The Ideal… A budget that reflects your true values is going to be a lot easier to stick with in the long run so it pays to start off by looking – realistically – at what your values are.

 

Getting Real Value For Money – Finding Out What Matters Most To You

Take time to sit with a pen and paper and list the things that matter most to you. Remember that values are ideas not items or spending areas. So don’t just list what you want/need to spend money on – for example, ‘rent’. Instead list what matters to you in life – for example, ‘freedom’, ‘family’, ‘flexibility’, ‘security’…  Any of these values might be met by paying rent but paying rent is not, in itself, of value to you. Ask yourself whether the thing you are about to write down serves a purpose or is an end in itself. For example, you might realise that ‘career success’ is not intrinsically valuable to you, but helps you get ‘social status’. In that case, ‘social status’ is what you really value – so that’s what you write down.

You can get more advice about discovering what you really value at www.mindtools.com and download a free Core Values Workbook at www.dawnbarclay.com. You may find that some of the things you are struggling to afford aren’t worth the money you spend on them. Once you know what you really value, keep thinking about whether you are really getting value – your value – for money as you draw up next month’s budget.

February 14

Being Thrifty When You Can’t Be Bothered

Getting Into The Habit Of Being Thrifty

Tartan Thrifty is all about getting into the habit of spending less without living less well. Some habits need to be carried out every day, some every week. Some only need to be carried out once a month – and, surprise, surprise, they are the hardest ones to keep up. To help with that you can find a wall-planner to help you keep on top of this week’s Thrifty Habits – the dailies, the weeklies and the ones that only come round once a month – here. Use it to plan when exactly you are going to carry out the Weekly and Monthly Habits.

Thrifty Things To Do This Week

Thrifty Habits Planner April Week 1 - New Page
This is the week to Preserve Something. Nature is not exactly bountiful in February so how about a big jar of Disgracefully Drunken Prunes? The ingredients are cheap, the effort minimal, and – if you leave them alone for months – the results are delicious. It’s also the week to dig out all your receipts and bank statements and find out how in control of your spending you are this month…

Staying Thrifty In February

How are your plans for a thrifty 2017 working out? I find January is usually an excellent month to start some new thrifty resolutions – any thriftiness at all seems like a stellar effort compared to the excesses of the previous month. Plus, sales shopping gives a certain thrifty veneer to spending more money, because it’s not really spending if it’s a bargain, is it. (Is it?) And, given the state of most people’s bank balances in January, it’s not so much a lifestyle choice as a dire necessity. So a frugal new year seems entirely do-able in January.

February though… The shine has come off your new thriftiness – it is no longer fun. Or an interesting challenge. And, with a new month’s pay in hand, it seems less urgent. You start to forget your new thrifty habits. But habits – thrifty ones included – thrive on repetition. The more often you repeat them, the more likely you are to keep on repeating them.

So, no pressure, but if you started out on a new journey to take control of your finances last month, this month is crucial. Keep your new thrifty habits up through February and by March they will be well on their way to becoming second nature. If you do fall off the wagon, just hop straight back on. And remember to give yourself little treats to keep your morale up. Good Luck!

 

June 7

Thrifty Habits – Store Your Receipts & Review Your Spending

Why You Need To Do This

Work With The Real Not The IdealTake Control - Thrifty Principle No. 1These dull – but vital – Thrifty Habits are rooted in two of my Principles Of Thrifty Living – Take Control and Deal With The Real Not The Ideal. They give you data you can mine about your current spending habits and that data helps you take practical steps to control your spending. Without the hard evidence receipts give of your real spending habits, there is a danger that many of your attempts to be thrifty will be based on what you think you spend, not what you actually spend.

As a bonus, being able to provide hard evidence that your spending is going down each month gives you a huge morale boost. So keeping all your receipts and then reviewing them every month is a vital part of getting yourself into thriftier habits.

How To Use Your Receipts To Cut Your Spending

1backtoschoolteacher-graphicsfairy008bwStart by grouping your spends into broad categories – for example Food, Fun, Travel, etc. These are the areas you think you are spending on but your receipts might tell a different story, so leave space to add extra categories if you need them. Now make a note for each category of how much you think you spent on it this month. Don’t cheat by peeking at your receipts! This is going to help you spot the areas where your spending is least under your conscious control.

Pick one category – Travel, say – and go through each receipt looking for spending on just that category. Tally this up so you can see how much you spent this month on that category. Tick off each expenditure as you log it so you don’t accidentally double-count it. By the end of this process you should have a clear idea how much you are spending on each area.
Now compare these with your estimates. Were you spot on? A little out on a few? Wildly inaccurate? And how does each spend compare to what you could afford to spend on that area? Were there categories you didn’t even know you had spent on?

worried gift-giverThe gulf between your actual spending and what you thought you had spent tells you how much – or little – control you have over your spending in that area. You need to think about practical steps to help you notice how much you are spending on these areas when you are spending – shopping with only cash, for example.

If there is a gulf between what you are spending and what you can afford then you need to budget more tightly – and stick to it.

That all sounds very simple but the reality is that spending is more to do with human behaviour than with numbers on a spreadsheet – and behaviour is hard to change. That’s why this is a monthly Thrifty Habit not just a one-off. It takes time to start to get a picture of where your money is leaking away, even longer to figure out why you are letting it. But it is worth the effort.

What Do You Do With The Information From Your Receipts?

Take Control

Now that you have a clear and accurate picture of your recent spending history it’s time to decide what your spending future is going to look like. Go through your categories again and set yourself a spending maximum for each – make sure that all your max spends don’t add up to more than your monthly budget can bear. Make a note of the difference between your new spending target and last month’s spend for each category – this will tell you how much (if anything) you need to shave off your spending on that category.

 

Work With The Real Not The Ideal

retro lady fro www.thegraphicsfairy.comIs your revised budget a fantasy or will you really change your spending habits next month? If I have learned one lesson in all my attempts to live thriftily, it’s that good intentions often disappear if we don’t have a real plan for putting them into action. So, now you have a realistic picture of your spending habits, make sure that your plans to change them are equally realistic.

Look back over last month’s receipts and make concrete plans to change certain things. For example, if you want to spend less on Travel are you going to walk/cycle more? If you want to spend less on Food are you going to buy all own-brand next time? If you want to spend less on Clothes are you going to spend your lunch breaks reading a book rather than wandering round the shops?

Now, I am not going to pretend to you that this Thrifty Habit is fun – it’s really not – but I can tell you with total conviction that you cannot get your spending under control until you know how, where, when and why you are spending your money. And reviewing your spending each month is a vital step in that direction.