Gransnet forums

Legal, pensions and money

Page 2 of 2 | First | Previous | Next | Last
| Flip | Customise |

Taking control and responsibility for one's finances

(31 Posts)
Add comment | Report
suninthewest Sat 04-Mar-23 09:14:47

LOUISA1523, you have a partner so I imagine you talk about small every day things, not getting advice but just having someone there to mull things over with makes a difference I think.

Add comment | Report
Juliet27 Sat 04-Mar-23 09:13:14

I find direct debits (if you know you will be able to afford them) takes a lot of the worry out of keeping on top of finance. Hasn’t been so easy of course lately as they’ve needed to be increased for gas/elec. Definitely worth signing up for Martin Lewis’ weekly e mails at MoneySavingExpert.com

Add comment | Report
NotSpaghetti Sat 04-Mar-23 09:05:19

Well done suninthewest - you have come such a long way.
Worrying about bills is not nice so knowing what the situation is will be liberating. Something to cheer.

Add comment | Report
LRavenscroft Sat 04-Mar-23 09:04:24

I have a set amount per week for food and don't go over it and also shop for bargains if on offer. I keep heating to a minimum, subscribe only to associations I get anything out of i.e. U3A, use my bus pass whenever possible, try not to buy unnecessary clothing and mix and match what I have, borrow books from the library, cook from scratch with set meal plan, put washing machine on eco and only wash on a full load, and so it goes on. It is also well worth popping into your high street bank/building society to find the best interest rates on savings accounts, going out with friends who accept you as being thrifty and don't laugh at you because you don't eat/drink heavily, not smoke etc. It is a lifestyle rather than a penance for me as it feeds into my good health and is also good for the planet.

Add comment | Report
LOUISA1523 Sat 04-Mar-23 09:01:17

Im not saying this flippantly....im 58 now I don't get 'advice from anyone....don't feel I need it....me and partner pay a share of the bills each month.....mortgage paid off 10 years ago ( over 22 years)..... saved since then .....got 2 ISAs...... got a couple of small inheritances to add to saving.....took nhs pension last year so got my lump sum.....but still do around 2 bank shifts a week ....got £5k of premium bonds .... never think about ' keeping on top of things' .........pay for gas and electric usage monthly exactly what we use.....have a joint will with partner and a family trust for my home set up .... think my finances are very very simple....they don't need much thought....I imagine its different if you have private pensions and stocks and share....then I would need to be more on the ball

Add comment | Report
suninthewest Sat 04-Mar-23 08:40:56

It has taken me years to do but I finally think that I am taking responsibility for my financial things. Have been on my own for years now, in my marriage my ex took full control and I had no idea about anything - did not know what was coming in and what was going out. I have got to a point now where I have finally paid off my mortgage (after a lot of hard work and worry), I am in a job I enjoy and have got some promotion - I was never previously interested in a career. I do not have a lot of money but have no debt and manage with what I have and am content with that. I put my head in the sand for years but in the last few months I have got a picture of what my income and outgoings are and have shopped around for better energy and internet deals and home insurance etc etc. I get the Mail on Wednesday for their money pullout and listen to money programmes on the radio. I have spoken to a financial advisor at my building society but of course you pay for ongoing advice, it is not cheap but I think it is going to be worth it to do once a year to keep a handle on things. A lot of people would think I am quite poor but it is satisfying to know I am making the most of what I have and I feel less worried about the future. It is an ongoing process though, I don't want to let things slide and for things to get back to how they were in the past where I was scared to open letters and emails . Would be interested to know how others have taken control of their finances and where they get their knowledge and support from and how they keep on top of financial affairs and bills and motivated to do so. Many thanks in advance.

Page 2 of 2 | First | Previous | Next | Last
| Flip | Customise |