Money, wealth & expenditure

Right before I start, I know some people are very touchy on the subject of money, declaring their money situation etc so if offended, please dont feel the need to reply.

What I am interested in is when do people feel like they have money to spend and can treat themselves? Is it when theyre out of their overdraft, when they get paid (regardless of debt) or is it not until they see a certain figure in their account?

Personally, I like to see a figure in my account, not taking into consideration any savings I may have. If the money is above that figure im pretty happy that theres always some to spare. I do know of a few people who seem to be always fighting their overdraft limit yet are still happy to spend their cash in the same way that I would.

If I dont see the figure which I consider to be a threshold in my account, I start thinking that ill have to cut back that month or put off a purchase until that figure is restored

Am I mad or do others think the same way?

I have separate accounts for paying bills and standing orders. When I'm working I clear out my current account to savings the day before payday. Anything in the savings account is spends, bill accounts look after themselves and current account has the liquid cash for petrol, lunch, the odd bit of shopping, and day to day expenditure.

mmmmmmm.I started of with the same idea ,but it was when I got to the said figure that things started to go wrong.I had worked so hard to get there I didnt want to spend it ,so moved the figure up....and up ....and up.

I've been in 'minus figures' for years, ever since I was a student, but I've been paying stuff off (including overdrafts, loans etc) at a steady rate, and treat that like any other bill going out each month. Whatever is left out of my wages each month after paying those bills, is spending money. By next year I should be more or less straight so my plan is working and I am paying off my debts, but i still get to treat myself, go for nights out etc. If I'd decided to wait until all my debts were paid off before I spent any money on myself, I'd have spent the last couple of years either working or being a hermit and going stir crazy at home!

If something comes up though e.g. I've just had to order a new chain & sprockets, then I'll have to sacrifice a few nights down the pub this month to afford it.

I think what I'm saying is that I've found it's still possible to have debts AND have a few luxuries, as long as you're careful about managing your debt / money.

I can't get out of my overdraft flippin' uni...

[Gazza77]

I start with my pay, take off all bills (now just a lump sum into the joint account), take off savings (for mid term stuff like home improvement/new bike fund and also shorter term stuff like new leathers & car tax, etc) then whatever is left is mine for the month. Beer tokens really, as that's all it seems to get spent on.

[timwilky]

Wealth to me is simple. It is the balance of my current account at the end of the month and is transferred to my saving account, that way I only live on my income and anything left over is savings.

Don't earn enough to save. Always skint

[mister c]

I had been in the red for years when I was married. I then found myself on my own with the kids & slowly started to eat away at all of my debts & did without anything except the essentials.
August last year my account was in the black for the first time, this lasted until March of this year when my employer halfed my wages because I had been off work since January. I went back to work in May, but am back where I started - overdrawn
I have again started going without because I am determined to get back on track.
I've done it once & I WILL do it again

I have a detailed excell sheet and I know every penny i am due to spend, I consider tyres and expesive items my treat.. e.g this month I need bike tyres, so I will not eat out, buy booze etc.. however that usually goes to pot..

Using a month by month sheet it helps me forcast the money for large events.... Like moving and the wedding.. etc etc... I am luck enough to have never used my overdraft as far as I can remember.

But I dont have a lot to my name..... things will change soon...