Financial stress / budgeting

[Snow White.]

Hello I hope this makes sense it is midnight and I'm riddled with anxiety about money

This is the first year I haven't worked at Christmas and my income is low.
I have presents to buy and two large bills to pay on Christmas
Plus I manage money poorly as I shop to bring me joy

How do I do a budget to make sure I can pay my bills and work out what I have left?
Any tips?

How can I make money? I don't have a lot of free time

Any financial advice super appreciated.
I'm working on not frivolous spending too but I am going to a market this weekend but my dad gave me Christmas money to buy a present from him so I have to really think about it

Thanks xx

[whirlpools]

I feel your pain. Money and budgeting can feel so hard, especially in December.

I'm a bit obsessive with doing the budget itself, I'm checking it every day at the moment. Actually sticking to it is harder! I found it helpful to draw up a spreadsheet with all incoming and outgoing money (rent, bills, food and transport) to work out how much I have left over. Then each day I update it.

I also sometimes find it helpful to take out in cash exactly what I have budgeted for food in a week and put it in an envelope. I also put cash for transport and pleasure into separate envelopes for each week. This means I can see exacty how much I have left. This isn't so helpful if you shop online.

I also try to make sure I spend less than I budget on pleasure so there is money left over for emergencies.

Keep receipts for everything you buy. This means you can return impulse buys if you later found you're less interested in the purchase.

For making money, maybe sell things you don't want any more on ebay?

Sorry, these might all be terrible suggestions but they have helped me in the past.

[The One Who]

^ I second that advice, some very good tips there.

You say you shop to bring you joy. Is it the act of buying or looking that helps you? If it is more about the looking for nice things, trying on clothes, perusing the shelves, etc, then that doesn't require any money. If it is the actual buying then I think you need to look at that in more detail, ie, what is it that is helping you to feel better, is it transferable, etc.

This might sound odd, but do you need to buy anyone presents? I'm sure your family and friends know your financial situation, and so may not be expecting a gift. Or if you do want to give something, does it have to be on Christmas Day? The idea of giving can be applied to any day of the year. Another option is to re-gift something of your own to them, or craft something yourself, or make a nice card with thoughtful messages in.

[Snow White.]

Oh my! These tips are all amazing! Thank you so much :)

I'm going to make my excel spreadsheet today. I do have an item I want to return but lost the receipt for but I might try it anyway. Super good advice to keep receipts for that reason.

I might sell some things that is a good idea.

Claire I think it is both aspects of shopping so I could either go without my money and enjoy the browse or maybe sit and think or be with the things I already have and be mindful of the joy they can still give me.

I've told some friends I'm not getting them anything and I've just found a budget gift for my dad's girlfriend. I've only got two presents to go about $100 total so I can wait until pay week and that will be ok.

Carmen suuuch good tips especially online shopping! And recording each time you spend money. I think I'll do that as it would be good to get an idea of where it is going.

Thank you all. I love these proactive ideas I can start using today :)

[talaiporia]

I hope things help. One thing I used to do when money was tight was work out how much I had left for day-to-day (income- rent, phone and bus ticket) and divide that up into weeks so I knew how much I had per week - and if I overspent one week it was taken off the next week (or if I underspent, it was put aside).

[Snow White.]

That's clever Sophia, thank you!

I budgeted more money then I spent at the market so I have some left over now. And my brother gave me money he owed me so that was good. I did a food shop and was money savvy in the supermarket and didn't buy any food I don't need. Progress :)