Having set up a proper budgeting regime using the YNAB (You Need A Budget) computer program, I now have more control of where my money goes—and how little I have! In a good month I'm lucky to have €50 in discretionary spending, although I could make some more savings on grocery spending and other categories.
Everything's accounted for but there's very little spare cash during any one month. I have an emergency cash category within the budget that can deal with unexpected bills. The problem is with the little extras. I want to buy a bicycle (about €300) and join a gym (€450). You might say I should just get a bike and be happy with it, but I'm just using this as an example of what can occur.
I have a reasonable amount in savings in the bank but that's meant to eventually go towards a mortgage deposit or for pension provision. I've been in the habit of dipping into this when some large expense comes up but I think that's a bad habit as it quickly depletes savings.
My point is that if I want to spend say €1000 on something, it would take twenty months to save up for it. Maybe that's just what's involved in living within your means!
Am I looking at it the right way or is there another approach I could take?
Everything's accounted for but there's very little spare cash during any one month. I have an emergency cash category within the budget that can deal with unexpected bills. The problem is with the little extras. I want to buy a bicycle (about €300) and join a gym (€450). You might say I should just get a bike and be happy with it, but I'm just using this as an example of what can occur.
I have a reasonable amount in savings in the bank but that's meant to eventually go towards a mortgage deposit or for pension provision. I've been in the habit of dipping into this when some large expense comes up but I think that's a bad habit as it quickly depletes savings.
My point is that if I want to spend say €1000 on something, it would take twenty months to save up for it. Maybe that's just what's involved in living within your means!
Am I looking at it the right way or is there another approach I could take?