Do you guys budget?

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I m from a pre easy credit era so only buy what I can cover from wages or savings.

I use my credit card but it’s paid off in full monthly.

I have a car which is paid for and what I could afford without borrowing.

Mortgage paid off on a house I need rather than want.

Hate debt. Happy to live within my means.
 


Kent_Mackem said:
It's a data quality and matching software that was created by a small company in Cambridge. They found a niche use case to sell it for Sanction Screening and Oracle snapped up the company and the software. I worked for the small company, then Oracle now I have gone independent.

All banks, insurance companies etc have to screen their data against various governments' watchlists, depending on their region, to ensure they don't pay money to terrorists or arms dealers etc. With regimes like Iran, Syria, Russia and North Korea there will always be sanctions from USA, The EU and The UN. I'm hoping to stay in the industry. Just need to adapt a little now that the software is reaching the end of its life. But I've worked hard to learn about the regulations, I've been working part-time on a Law degree, and I'm hoping I can offer services outside of the tiny software-centric niche I originally had.
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That’s the world I’ve ended up in funnily enough. Developing intake processes for law firms of which sanctions / CDD etc is a massive part. Mostly low code tbf and piggy backing onto the more complex systems like the one you’ve mentioned like worldcheck, riskscreen etc but there’s a lot of consulting required as well as development. Sounds like the law degree is a great idea. Send me a PM if you ever want to find out any more 👍
 
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joemcdokes said:
How on earth did all that happen?
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Good question and the simple answer is I'm a Grade A mug.

She couldn't afford to stay in the marital home so I took on all debts and didn't take any equity so she could. Even had to take an extra loan out to cover the deposit and furniture I needed to move into a rented flat. You could call me a soft touch and you'd be absolutely right but I didn't want to be the reason the kids had to move out and for her to use that against me.

Even now when I'm back on track I still pay her £700 maintenance even though we share the kids 50/50. The whole CMS system is nonsense and favours the 'primary' carer which is why I still pay this money each month despite everything. In reality I pay double as I still buy them clothes, toys, books etc etc - I know my payment each month funds her lifestyle, not the kids.

But like I said in the original post, I don't give a fuck because I'm so much happier now and still have enough money to do near enough what I want.
 
Cookie said:
Good question and the simple answer is I'm a Grade A mug.

She couldn't afford to stay in the marital home so I took on all debts and didn't take any equity so she could. Even had to take an extra loan out to cover the deposit and furniture I needed to move into a rented flat. You could call me a soft touch and you'd be absolutely right but I didn't want to be the reason the kids had to move out and for her to use that against me.

Even now when I'm back on track I still pay her £700 maintenance even though we share the kids 50/50. The whole CMS system is nonsense and favours the 'primary' carer which is why I still pay this money each month despite everything. In reality I pay double as I still buy them clothes, toys, books etc etc - I know my payment each month funds her lifestyle, not the kids.

But like I said in the original post, I don't give a fuck because I'm so much happier now and still have enough money to do near enough what I want.
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Happy ending at least.
Glad to see it has worked out. 👍
 
Tommasi said:
No budget, but I know my outgoings per month.
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Same here, and depending on the amount of hours I work, I always leave enough money in the bank each month, for life's little luxuries, like clothes, plants for the garden, stuff for the house, etc . . .
 
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Just because someone is willing to lend you the money doesn't mean you can afford it.

We moved house 4 years ago and worked out that £750 a month was the absolute max we should be spending. Looked at houses in that budget put in an offer and it got accepted. Went for a mortgage and they reckoned we could afford a mortgage of over £1200 a month. With all that's happened now we would be fucked if we had have took that on.
 
Roger said:
I made a concious decision to avoid all credit (with the exception of the mortgage) many years ago. If I want something and haven’t got enough money for it, I can’t have it unless I save up for it.

I have also paid down the mortgage whenever I could.

Its great when times get hard as your outgoings are relatively low, and I must have saved thousands in interest over the years... so as a result I can actually have more things I want.

Also when you want something, ask the question do you really need it?
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exactly this.
Wouldn't have what I have now if I didn't follow these very basic principles.
 
TopCat said:
Great reason not to have a credit card then.

Same. Am paying for Netflix, Spotify (Family), Amazon Prime and The Times. It all adds up to silly amounts over the year.
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I'm thinking of binning Netflix in favour of Prime video. It's been shite for months now and I only keep it because she likes the documentaries on there.
 
When you have got no money, then you think about it constantly and you have to budget to avoid debt. When you are a bit more comfortable you budget less because you have a buffer in place. That is my experience anyway.
 
Dave Herbal said:
When my debt was 6 figures, I estimate that a third of it was interest.
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Six figure debt excluding mortgage?
lackingmatchpractice said:
I'm thinking of binning Netflix in favour of Prime video. It's been shite for months now and I only keep it because she likes the documentaries on there.
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I did this recently..never had prime before, there’s a fair bit duplicated but, maybe a cos it’s new, I prefer prime.
 
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Vincemac said:
I’ve worked all my life for my money Never won anything or been given anything
We have what we have saved
I’m now on the pension
I look after my family financially when I can
I have quite a few holidays a year and have a new car every couple of years As I have had all my life
I don’t waste money and use it when required
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No offence but you sound dull as dishwater...apart from the holidays :lol:
 
Paddy O'Dors said:
I saw summat about paying the minimum amount off on a credit card each month meant it would take summat like 35 years to pay it off.


Aye, it was nowt to do with the Tories making credit much easier to obtain in the early 80's. :rolleyes:
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possibly. Early 80`s though i was more interested in my action man and grifter though
 
Cookie said:
Good question and the simple answer is I'm a Grade A mug.

She couldn't afford to stay in the marital home so I took on all debts and didn't take any equity so she could. Even had to take an extra loan out to cover the deposit and furniture I needed to move into a rented flat. You could call me a soft touch and you'd be absolutely right but I didn't want to be the reason the kids had to move out and for her to use that against me.

Even now when I'm back on track I still pay her £700 maintenance even though we share the kids 50/50. The whole CMS system is nonsense and favours the 'primary' carer which is why I still pay this money each month despite everything. In reality I pay double as I still buy them clothes, toys, books etc etc - I know my payment each month funds her lifestyle, not the kids.

But like I said in the original post, I don't give a fuck because I'm so much happier now and still have enough money to do near enough what I want.
Click to expand...
Good on ya mate.
 
I don't really budget but I don't particularly spend a lot either. I've only worked 6 weeks since the end of March so I'm watching the money.

I'm getting almost £5000 from Virgin after getting my holiday cancelled back in May. Told my Mrs who said great I'm going to order a new bathroom :lol:
 
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