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How can I have more self-control and stay within my budget?

Money is really tight these days and I know I have to cut back and stay within my budget. Yet it seems like every time I go out, I'm spending money here and there and it really adds up. It's generally food and other stuff I need for the house. My kids 20 and 22 also ask me for money here and there for meals and legitimate needs because they are really struggling and I don't want to say no.

I think using a debit card is one of the problems but I'm not confident that if I take it out of my wallet, I won't convince myself that it's okay to use it at some point. Does anyone have any other suggestions to keep me on track?

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home12

Asked by home12 at 11:11 PM on Jun. 5, 2011 in Money & Work

Level 5 (76 Credits)
Answers (7)
  • I use envelopes and cash. I wouldn't be giving money to yours kids either. 20 and 22 is old enough to support themselves.
    mommytoJames512

    Answer by mommytoJames512 at 11:38 PM on Jun. 5, 2011

  • I like the envelopes idea and I've tried it before. Unfortunately, I found myself "borrowing" from the envelopes to pay for other things. I'm pretty weak when it comes to budgeting and really admire those who do.
    home12

    Comment by home12 (original poster) at 11:53 PM on Jun. 5, 2011

  • just take out enough money for bills and groceries. but dont buy chips and things that just taste good and arnt going to fill you up. put the rest of your money into a savings account rather than a checking account. and dont get a debit card. that way if you feel like spending extra money you have to drive all the way to the bank instead of being able ot make a last minute buy on something you dont need.
    Hopeful44

    Answer by Hopeful44 at 12:03 AM on Jun. 6, 2011

  • Shop with coupons #1! It saves you so much money!!! A lot of grocery stores will actually double your coupons up to a dollar too! I cannot remember the last time I paid for a toothbrush or toothpaste with my P&G savers and everything I pretty much buy, I have a coupon for.
    Also, if you just take out a certain amount of money per week, it can be really helpful. You almost have to pretend that it is all you have and don't allow yourself to withdraw anymore...if you follow that rule, you don't really have the opportunity to be loose with your money because it is visually there in front of you; you know that for example your $100 must last you all week and as you spend, you SEE that you have less money! Unfortunately, as far as your children go: you may just need to have a sit down with them and be honest about your finances right now! They are grown now and should be able to rely on themselves for spending money....
    Autumnmoore324

    Answer by Autumnmoore324 at 12:12 AM on Jun. 6, 2011

  • i agree with mommietojames use money and stay with that and keep the card at home!! if you cant trust yourself to do this then give it to someone you trust to hold onto.
    amberpaiz

    Answer by amberpaiz at 12:24 AM on Jun. 6, 2011

  • I commend you for helping your adult children, but I think you need to be honest with them and tell them that you are stuggling too & you are going to have to cut back on giving them financial help.
    Couponing is great,but watch your prices, some items are still more expensive than others even with a coupon. The envelopes thing is great if you can stick to it, I was like you & would borrow from one to get stuff.
    I am definately an emotional spender and a boredom spender so I have discovered that I just need to stay away from ANYWHERE i could spend money when I am bored or having a bad day.
    Define your goals too, are you paying down debt or bulking up savings? Knowing what you want is the #1 thing.
    shareleann

    Answer by shareleann at 6:43 AM on Jun. 6, 2011

  • Lots of really great advice! I took out a certain amount today and will try my best to live within it. I think that my motivation for spending is that I don't want to feel deprived. But I know that in the long run, it's not good for me. Thanks to all who responded.
    home12

    Comment by home12 (original poster) at 8:32 PM on Jun. 6, 2011

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