Want to travel, need to clear debts/save

Plek Trum said:

Danielle - keep it old style. Get an empty biscuit tin, seal it with tape and cut a hole in it. Put in every NOTE you can, do not bother with coins unless they are 1e and 2e.
Put EVERY spare bit of money you have in it, even the last fiver at the end of the week or month AFTER you have paid all your existing committments. Put the change from your purse in it when you can. Seriously, everytime. Don't carry anything larger than a tenner on you if going into town.

Save, save, save. Open nearer the time, say 6 weeks before trip which is plenty of time to book flights. See what you have. If its there, you go - if its not, you dont.

Its up to you to do the hardwork and knuckle down if you want to do everything you hope.

Best of luck - let us know how you get on!

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I really like this idea. I think Oldschool is the only way forward. Lazer cards are a curse. Even if I don't save enough I still have a nice lump sum to book a cheap and cheerful holiday or throw it off my debts

I've been sticking money in various locations around the house for years, it's great. If I ever pop me clogs someone is going to have a great time finding all these little deposits! I save small amounts for car tax, ESB, gas etc and also have a general "slush fund" that I stick one and two Euro coins into. I clear it out every now and then and buy myself something. It sounds so "naff" but it great fun. I was explaining this ( rather sheepishly) to a friend of mine who is useless with money, has lots of debts, and worries constantly about money. An interesting and important aspect of this came up and that I hadn't really considered before. For him, saving is an unpleasant chore, whereas for me it's fun. I don't think this should be under-estimated. If we LIKE doing something, we generally keep doing it!

horusd said:

For him, saving is an unpleasant chore, whereas for me it's fun. I don't think this should be under-estimated. If we LIKE doing something, we generally keep doing it!

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You are right, but it is possible to have fun saving into bank accounts rather than in various places around the house

The best way to do this is to: first do not borrow money, then limit your intake to the greatest needs, and finally realize your projects starting with the most important or even vital, Good luck.

Greta I do save mostly in the bank, but I take the small amounts out of current spending. Psychologically if it's out of my wallet, I treat it as "spent" and I manage 2 reduce my spending to match what's left. I think saving is as much a state of mind as anything else. By making it into a game we can "trick " ourselves into succeeding or failing,depending on our mental financial plan. There is a line from the bible (I think ) " ....as a man thinks so he is".

Apologies 2 OP and mods BTW ....realise I went off topic here.

No probs your advice has been really helpful

Danielle,

I have carefully read your thread and while you are asking for advice at first on how to make cutbacks but you seem to reject (quite strongly at times) every one that is suggested. Saying that, we are individuals and all have a different, personal point of view, beliefs, needs and wants so try to understand their point of view and consider it before shutting them down.(at least) You should not feel personally attacked. You ve asked for advice, and that is what people are offering you.

Just keep in mind that many people here have been there and the advice/suggestions you are getting are from personal experience so I would seriously let my guard down and really take it in! Why not learn from other people's experience?

Danielle, the first advice that I would say is that to me, it does not make sense to have savings when you have debt. I would concentrate on one debt at the time and overpay as much as you can.

Medication: are you asking you GP or consultant o give you a generic brand? Same but much cheaper.

Bins: I agree with many posters saying that it is too much. With paper/cardboard make sure you fold them as much as you can in your bin, also you do have a car so a weekly or monthly trip to a recycling center would save you a few more euros.

I think you need to include all your expenses as you are missing: petrol costs, groceries etc...

You ve mentioned that you ve made a dent in your repayments. I don t know if you are looking for congratulations but while this is a good start, you still have a long road ahead so don t think you are out of the woods just yet but it is a good start. The only thing is that your numbers don t add up ( balance remaining)

My suggestions would also be to keep a spending diary, writing down everything you spend, (from your morning cafe to the evening milk carton bought in your corner shop) as it is a good way to be able to look back and see where the real savings can be made.

As far as the trips are concerned, I ve been to New York several times, not Oz and anybody here will tell you, it is not a cheap city. Great deals but not cheap...I would totally rethink those trips! I am in my mid twenties and I love travelling, home and abroad
but if I was in the situation you are in ( on that salary and having those debts), I would forget about those trips to a) repay what you owe and b) be able to afford your education at the same time!

I wish you the best of luck and I do hope all the advice you got here (on website) will not fall on deaf ears. I just hope we on t get a new thread in a few months asking for debt advice! Whatever you choose to do, good luck.

Thanks everyone for their advice. New York is off the cards, thinking of holding off OZ until I get my money early next year. I've started saving though so will be going on a nice sun holiday regardless deserved me thinks.

hi

Hi. Best solution is to set first all the necessities and set aside those wants. By that, you can save a lot of money.

Is it wise to go on a sun holiday? At a guess that's a least a grand you could put off your loans. That is a luxury.