Receipts

When we shop we might never acknowledge the importance of receipts with our purchases. We know they are a proof of what we have bought, also great for return and exchanges. Another good thing about them is that we can decide up to 30 days (90 days with some stores) whether we have changed our minds to whether keep the goods or not. For food, such as eating out, receipts are great to also show proof that a payment has gone through if we have made a card payment.

Well, now that I feel that I have emphasised about the importance of receipts, I've noticed how quick of a pile I get from them in my room or in my purse. 

If you are one to bin your receipts, try not to get too comfortable on binning them too quickly, for example if you are one to have two or more cards, its a great way to see which card you have made a payment with. On the other hand, some payments made via cards do not automatically show on your bank statements or if you were to directly check them on your phone or at a cash machine (this can usually take up to 3-5 working days till it appears) and then you'll still think you have money. 

The importance of knowing where you have used your card is vital. Couple months back, I was updating my spending to realise a random outgoing transaction (roughly £1.85) I know it was not a lot but it had appeared twice with no information of what type of transaction it was. With this information I managed to call my bank and ask, they explained that sometimes a small amount would go out and be sent back in my account. (Sounded like it was a regular thing). So this red alert made me really aware... so yeah, be cautious. It is your bank account with your details after all. How would you have felt if £100+ went out your account with realisation? 

Next Step; 

So back on the subject of receipts, I've decided to drop them all on Excel. I've divided my receipts into monthly categories. The categories which I've named are: food, clothing, food shopping, travel, eating out and other expenses.

This well help me to neatly and easily review how much I have spent and how much I could have potentially save.

Bad Habits

I'm sure by reading my posts, you'll acknowledge that I'm becoming a "geek" to the land of budgeting. Well for myself that's a great move.
The past couple weeks has been an eye opener. I've managed to catch up with friends and within the last few days it has come to my attention that a few of us ladies do not tend to put our finance into consideration! Tut tut!

Time is money and money is time.

Ladies. Be careful on how you spend. This is an advice to myself over and over again. I know that I am not an expert at not carrying a certain amount of cash on me but be aware that spending to fulfil your needs when you are upset isn't a great idea either.
And ladies. Do me a favour and put your debit cards aside.

One friend of mine at work expressed to me that she spends a lot and on how much it is more or less becoming a habit. Yes the beginning is hard but disciple is a virtue too just as patience! Teach yourself that some items are not needed. just because its nice it doesn't mean that its a need. Learn the difference between your NEEDS and your WANTS and also if you have the money for it!

How did I overcome it?

- I looked at my bank statement once and was ashamed of two things: 1. Small consistent purchases made and 2. Sum of the figures spent. This made no sense and I realised that I wasn't working for free and needed to see the fruits of my labour.

- I started saving by doing it "small-small". I calculated how much I needed for my outgoings. From this point onwards the money which was left over, was directly popped into my savings.

- Writing and keeping notes on where your money is going, or in harsher terms, telling your money where to go is also another solution. Make sure that you are in full awareness of the bills which needs to be paid off first as this can have a bad result to your credit score.

- If I used cash, my change will be put aside. This has made me value change a lot more than dashing it around the house (I will post about it later on).

-Think of how your work schedule is for the week. Mentally tell yourself that you wake up to go to work and once work is over you will go straight home. With this technique you will not spend and if hungry tell yourself that you will eat at home.

- I looked at everything that I had at home. Clothes, shoes, jackets ect. and realised that it was more than ENOUGH! I had been buying things, that so many items still had tags on them or I either had a duplicate of an item which was either very similar but in a different colour.


Cutting a habit for myself is like giving your life away, but now, I can say that hard work makes you a lot happier than having a mounting of things which you will hardly remember.