Do you guys budget?

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yorkyexile said:
Think that might be an age thing. Of a certain age when grandparents had basically never even heard of serious tick, apart from the odd loaf at Stan Woodards Spar if they`d forgotten to bring their purse. Saving for what you want was drilled in, along with various rainy funds with the CIS bloke
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Yeah, 3 generations:
1 - My grandparents, loans weren't really a thing
2 - My parents, loans were absolutely disgracefully expensive
3 - Me, loans are ten a penny, totally normal to have all your possessions on tick
Madness.
 


Bradford Pete said:
My 2 sons are at the age where they're constantly receiving mailings offering them credit cards - so far they've headed my advice to rip them up.
It's a dangerous path in my opinion.
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Not if you don't treat it as free money. Makes sense to use one with decent rewards and pay it off on time every month.

Get the rewards and improve your credit score for mortgage apps.
 
42 said:
If you're sensible with money, credit cards are a good benefit. Can earn a few quid extra with cashback cards & whilst interest rates are shite at the moment in better times stoozing 0% debit can be a canny little earner
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You can have a better credit rating anarl by having one and paying it regularly (just make sure you don't owe more than 25% of your credit limit).

If I buy owt online I always use a credit card. You also get added protection for large purchases.

The downside is obviously if you have nee self-control.
 
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bomber said:
Aussie style deal will soon have them rolling in money in the Sunlit Uplands. 🐸
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Yep.... the Brexit voters will by that point beetiring, counting their money and signing “At last.... we took back control!”

Oh yes.... and there will be fewer foreigners on the bus.

(I wonder if the penny will ever drop for some of them)
 
Charmless Man said:
Not if you don't treat it as free money. Makes sense to use one with decent rewards and pay it off on time every month.

Get the rewards and improve your credit score for mortgage apps.
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Over the years I've gotten myself in shit loads of debt, far too much honestly, but I always paid it- my credit score is good because of that. My mate has never had any debt and is now struggling massively to get a mortgage.
 
I do it whenever there's been a big financial impact on my life; new jobs, houses, redundancy. Sail along on autopilot in the meantime.
 
Paddy O'Dors said:
You can have a better credit rating anarl by having one and paying it regularly (just make sure you don't owe more than 25% of your credit limit).

If I buy owt online I always use a credit card. You also get added protection for large purchases.

The downside is obviously if you have nee self-control.
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For about two years, I’ve used a card to manage my personal spends. It’s a low value card which I use in the month and then pay off in full at the end of the month.

This way I never overspend in a month and months where I don’t spend as much, I don’t have to pay off as much the following and can bank more savings.
 
Despite my best efforts to budget, I should have a canny lump of disposable income and plenty to save during each month.

Every single month I’m counting down the days to pay day and have £0 in my pocket in those last days.

I do fuck all extravagant either, I haemorrhage money on what appears to be fuck all. I go for nowt mind and neither do the kids.
 
Kevj said:
For about two years, I’ve used a card to manage my personal spends. It’s a low value card which I use in the month and then pay off in full at the end of the month.

This way I never overspend in a month and months where I don’t spend as much, I don’t have to pay off as much the following and can bank more savings.
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I've always had the philosophy that if I end up a victim of online fraud and they're using my credit card details then they're spending someone else's money, not mine. The credit card company can get it back off the fraudsters. It's only happened once and the Halifax were spot on tbf.
 
Dave Herbal said:
As something of an expert on this, what happens is you budget for all your bills, then find you need/want something and stick it on credit. And it’s the credit that builds up.
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Is that essentials or stuff in reality you can live without? I see people in debt purely to keep up with them next door which I find f***ing crazy.
 
Dave Herbal said:
As something of an expert on this, what happens is you budget for all your bills, then find you need/want something and stick it on credit. And it’s the credit that builds up.
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The debt trap. I saw a decent short documentary recently about the Chinese debt trap where they are financing major infrastructure projects in poorer countries then screwing them over/ taking ownership.
 
CraigyLee said:
whats the decent rewards these days
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Typically you're looking at about 0.5% cashback.

I think there's Amex ones that pay more but not everywhere accepts them.

Also there's ones that can collect airmiles (and virgins version of it) which might be pointless if airlines go bust.

Sainsburys give 1% in nectar points when you spend in Sainsburys (less on other spend) then can double it up at Xmas
 
Spend about 60% of my salary (includes mortgage, phone, car etc), rest is saved. Makes Christmas / Birthdays not as draining.
 
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