Top tip for good finances

[Malcolm]

If you’re short of cash, use a spreadsheet to set yourself a budget and then use just cash.

That’s right the only time to use your bank card is to take cash out of the bank to spend.

No more flashing the card to spend.

That way when it’s gone it’s gone and you won’t spend more than you have taken out.

It makes impulse purchases possible but once you get the hang of it and keep counting it out you slow down.

[The Duke]

I live by the opposite rule. If i have cash, it will be spent, rather that be 79pence or £500, someone will find a use for it.

But the priciple is similar, everyone has a card, when your allowance for that month is gone its gone.

When have a handful of accounts, we have a bill account that does  dd to cover the bills. So enough to pay them off goes in each week/month, plus a little float. A shopping account that the shopping comes out of, that’s the one the kids have access to. Then I and the wife have our allowance account , the kids their pocket money accounts. Then there is the savings. the amount that goes into the savings and the personal allowance, to spend on what we will fluctuate on how much is left.

Then i have a couple of credit accounts i have as emergency cards in my car, and the wife has hers. I keep mine around zero but do use it often. As i tend to always put fuel on it.

So we use cards, the same way you use cash. But without the cash bit.

We don’t do it no more be we did once use excel spreadsheets to budget food and bills, so we could 1. Survive and 2. You could “predict ” the future and see if you would have the “£500 in may for the mot” or how much we would have by December for Xmas.

Writing down first what you buy for a month, then looking at it, and picking out only what you need, would save 60% off the cost of the month. great way to spot waste. All then bottles of pop at a pound each, or them £3 coffees, can soon add up.

Suppose its just like dieting, first shame yourself with that you actually eat, and work backwards.

But i like to micromanage into pots, so i find accounts the best way. Also it means if you want something out your budget you have to cut back and save for it.

Probably cos i was brought up watching my mum put everything on the catalogue and the card, so she was always a year behind, chasing the bill. So i really disk credit, and them that pray on the poor.

[Ed P]

If you are short of cash, never, ever gamble.

When still a teenager I often used to help out at the local race-course behind the bar, and sometimes trainers would come to stay with us over the race-day period. It did not take me too long to discover all the many ways that a horse (or dog) could be slowed without breaching any drug prohibitions, and I rapidly reached the conclusion that it was all just a mugs game. (a good feed of oats and water was the main way of slowing the favourite in those days, ditto a big steak for a dog)

In the Far East, gambling syndicate manipulation of UK football/cricket through the bribery of UK match officials and players is huge money and often features in THEIR press.

Gambling is just an unofficial tax on the poor and stupid, and by allowing gambling debts to be put on credit cards the Government turned a non-enforceable debt into an enforceable one. I wonder which Labour MPs/ex-Ministers had conflicts of interest over that change!

I would ban all the gambling advertising, especially the one that says ‘They (the owners) gamble responsibly’ – of course they do, they are the owners and the bookmaker always wins! They also have a no-risk winner in that all gambling through them is credit card only.

[Drezha]

I much prefer using card than cash – I keep far better track of the money I spend and budget on the card than I can with cash and that helps me a lot. I use YNAB for tracking my money (well, I use the older version of YNAB that runs on my computer to track my money, we use the cloud based system to track the joint account between me and my girlfriend).

We recently had Monzo cards (well, still do) for cheap payments abroad. However, they’re also cracking for showing real time spends etc. Now it’s a bank so I can use it for everything if I wanted – if it paid interest, I’d probably switch to it!

"Everything looks interesting until you do it. Then you find it’s just another job" - Terry Pratchett

[Richard]

ED I am with you on that, as a side issue I am very much aligned with your view. Gambling is only ever a mugs game. It is not just best avoided, but more a case always avoid.

However, returning to the original question I remember a so called computerisation expert writing in the mid sixties expressing despair about being asked to computerise different situations. He wrote;

“What’s needed is a system; forget using a computer until you have a system to follow”.

It does not matter if you use monthly cash in baked bean tins, or credit cards on which you set personal limits, or cheques or whatever. Records can be kept on any medium you like but do help you to understand what money gets spent on. Receipts are a great cheap way to keep records. They confirm how much and on what money was spent.

Many years ago I ran the mess catering for an overseas company mess. We each paid the bills so I had a keen interest. The bills showed that bulky imported things cost something like 75% of our bills. I more than halved the monthly bills and ensured we had the option of three decent cooked meals a day.  Many grumbled it must cost a fortune; until the first mess bill came out, after the bills there was silence. OK we might sometimes run out of corn flakes before the end of the month, but we never ran out three meals per day.

[Bob Williams]

My dad and his elder brother, my uncle Jack, were best mates as well as bro’s and they each had a system. They set a weekly amount as what they could afford, and picked horses. If they won, half the winnings would go each to my mam and Aunt Tilley (Yes, Matilda: dad called her The Welsh Waltzer, she was a Davies from Ruabon.) If they lost, no more bets until next payday. They never used all of the winnings to make another bet in the same week, but would put the half winnings on 6x Win Doubles: 4 horses, 6 doubles. A complicated bet, but it paid off 3 times with a big win. The biggest was when dad was bedridden with a serious spinal injury from the pit. I was 18 and also at the same pit, before I joined the Army. Dad had been working out this bet for two days after winning a few quid on one horse, gave me the winnings and asked me to go halves. We won about £1100 as I recall, which was a lot of money in 1964 and paid for two weeks at Blackpool for me, two more holidays for my parents once dad was back on his feet. Mam received her half to save and I blew mine on repairing my crashed Ducati 250,* the holiday, drink, women and song. Then wasted the rest.??

My uncle Jack was a Railwayman who worked the express from London to Edinburgh. His (steam) train would pass the rear of his house (in the days when trains did run on time) and my cousin Betty would be waiting for him. He wrapped a bet in a lump of coal and threw it into the garden. Betty would pick it up and lay the bet.

Memories. I can remember those days so clearly, but what I did last week is a complete mystery. Fortunately I have SWMBO to remind me.

*Another story, another day!

When the Thought Police arrive at your door, think -
I'm out.

[blacklion1725]

I like a bet – horses/dogs and occasionally football. Write the money off as soon as the bet is laid and anything that comes back is a bonus. Never touch the spreads (you don’t know how much you are liable for). If you are sensible it is pleasant distraction but yes it is a mug’s game for 99.9% (including me). In terms of addiction it is like anything else – but I agree it is too easy and the internet has made it ridiculously easy. Shouldn’t be advertised on TV in my opinion either.

Saying all of that the biggest mugs game of all is the lottery (I do that too!) – much better odds of a favourable return on just about any other bet. The best (or least bad) I find is a place bet (rather than each way) which you can only be laid at the track/course not in a shop or online….especially at meets like Royal Ascott, Goodwood etc.

[Bob Williams]

I once lost over DM3000* in BAOR, playing 3 Scots Guards at Stud Poker. (I was very, very drunk!) A month later, a plan by myself and 4 mates came together when we all played drunk and took them for much more than that. Two weeks after that, the same 3 very large SG’s made the mistake of attacking me in a German Gasthaus. It was my ex-missus’ Gasthaus and was chock full of mates all on a birthday night out. We eventually threw them in the river at the shallow end, after fisticuffs. They were very large but very slow. Fortunately, the SG’s ended their detachment to our Brigade a month later and went back to the kraphole that was Münster.

I never played cards again when in drink.

*The Deutschmark was 12.50 to the £ at the time (’68) By the 70’s it was 3.50 and falling. The good times were over: booze and frauleins were much more expensive.

When the Thought Police arrive at your door, think -
I'm out.

[blacklion1725]

Bob I love your posts! Would make a great film!

Betting does cause rows though – remember when I worked in Southwark a row over a double hit (foul shot) at pool ended in a mass brawl because there was money on it (and not that much). Dies bring out the worst in people – specifically those that are down and chasing their losses.

[Drezha]

Still play the Lotto – only through the work syndicate though. I consider the money gone as soon as it’s left. I’m not after the big win (as it’ll be split 20 ways lol).

"Everything looks interesting until you do it. Then you find it’s just another job" - Terry Pratchett

[The Duke]

I don’t bet, as a rule, it doesn’t entreat me. Tho i will bet if at a meet, as it just adds to the day. There are usually 5 or 6 races, so ill take with me £60 to lose if i win so be it, as well as beer money.

I see the £60 as the price of entry on top of the actual entry price which is around £50. You can get cheaper tickets, but then you spend the majority of the day queuing for either a drink or a pee.

Also, another time i did bet was when we still lived at home, and that was £2 on a footy coupon. It gist adds to a Saturday afternoon session. most pubs back home have bookies attached.

Not something I’ve done in about 15 years.

[Tippon]

The one time I ever put a ‘proper’ bet on in a betting office was in Scotland for the six nations, years ago. As Steve says, it was more as part of the experience than anything else. I can’t remember the exact details, but I put about a tenner on a Welsh player to score the first try. We did a draw to pick a player, and I got one of the big names, Shane Williams I think. Watching the game in the pub, and my player got the ball and made a break up the side of the pitch, looking like he was going all the way. He’d left most of the Scottish team behind, and looked like it was a sure thing. As my friends started shouting about how I’ve got to get the next round, the bar steward passed the ball!!! About ten yards from the line, unopposed, and he passed! ?

I haven’t put a bet on since ?

[Ed P]

Paradoxically I enjoy going to the races and eyeing up the nags! On a nice day it can be a very enjoyable day out, and not too expensive.

[RSB]

While we are on the subject. As fellow forumites know there forumite points/coins are building up. One of the things I was going to do with these “Just for fun” and ” No real value” was do some book making on special occasions. I.e use some of your coins to place a bet with the opportunity to gain or loose some of  your coins. Basically betting with imaginary forumite coins for the fun of it.

Americans: Over Sexed, Over Payed and Over here, Wat Wat!

[Bob Williams]

blacklion1725 wrote:

Bob I love your posts! Would make a great film! Betting does cause rows though – remember when I worked in Southwark a row over a double hit (foul shot) at pool ended in a mass brawl because there was money on it (and not that much). Dies bring out the worst in people – specifically those that are down and chasing their losses.

That’s what my SWMBO also says BL, but reckons that some of the parts I have told her about, would have to be censored. She said some time ago that I should write my life story as a book. “What for?”, I said, “it’s not over yet!” She gave me one of those female looks that mean either “Will I ever understand this idiot?” or “What made me say yes to this idiot?”

In the old Miners’ Welfare where I used to meet mates, play snooker, darts, and party, there were 3 snooker tables. Always a game on, always full, no bother at all, no betting allowed under Club Rules. Then some of the younger guys asked for a pool table. The Games Room was extended into the ‘Snug’ and two pool tables were installed. Unofficial betting started. Several fights later, the pool tables were sold to a pub down the road, which already had its share of trouble. Young Miners did not need an excuse to start a fight anyway, especially at weekends.

Lee that’s a good idea, kind of a sweepstake where nobody wins or loses. Keep on thinking, keep on trucking.

When the Thought Police arrive at your door, think -
I'm out.

[Richard]

Whatever I was to bet on the thing would fail. If it was a horse the RSPCA would be after me as it shed legs or other important parts before it was half way through the race. I have learned to be wise now. I am still waiting for my premium bond account to do something. I have only had it for about 51 years!

[Bob Williams]

Me too, Richard. My measly £7 of Bonds must have been among the first issued, money left to me by a lovely old lady that I ran errands for as a child. I was around 11 I think, believe Harold Macmillan’s government issued them. Never had a sniff, still got the paperwork, still waiting for a win.

When the Thought Police arrive at your door, think -
I'm out.

[Ed P]

Razor blades get blunt for two reasons, build up of corrosion products and crud, and the edge of the blade bending over in micro curls. If you want to make your safety razor blades last at least twice as long there is one very easy measure to take:

The cure is simple. First thoroughly wash the razor. Give it a good shake in the water then finish under the hot tap.

Next, take a rough towel and dry the surface of the razor by gently rubbing towards the sharp edge. Not along and certainly not against the edge. This action accomplishes two things; it dries the razor while removing crud, but most importantly it bends back the micro curls into an edge again. The action is very similar to stropping a cut-throat blade on a leather belt.

Doing this even works for multi-blade razor blades where you can only ‘strop’ the one edge.

Try it, I guarantee you will be pleased with the savings.

[Bob Williams]

Ed P wrote:

Razor blades get blunt for two reasons, build up of corrosion products and crud, and the edge of the blade bending over in micro curls. If you want to make your safety razor blades last at least twice as long there is one very easy measure to take: The cure is simple. First thoroughly wash the razor. Give it a good shake in the water then finish under the hot tap. Next, take a rough towel and dry the surface of the razor by gently rubbing towards the sharp edge. Not along and certainly not against the edge. This action accomplishes two things; it dries the razor while removing crud, but most importantly it bends back the micro curls into an edge again. The action is very similar to stropping a cut-throat blade on a leather belt. Doing this even works for multi-blade razor blades where you can only ‘strop’ the one edge. Try it, I guarantee you will be pleased with the savings.

All good advice Ed, just wondering what prompted it. ??

My dad used to use the old single edge blades, gave me a set and showed me how to use them. He used a small whisky glass to rub the blade around the inside of the glass in order to keep the edge. It worked, but foolishly I disposed of that old “Ever Ready” razor some years ago. Never had a better shave with anything else. Now I use disposable Gillette “Blue II” from Superdrug (Cheapest, at 20 a time) and one razor may last 3 shaves at most. But they are cheap.

Recalling my first shave without parental guidance: I looked as if Sweeney Todd had shaved me! A Rhesus Neg blood everywhere, foam was pink. ????

When the Thought Police arrive at your door, think -
I'm out.

[The Duke]

I really have a wet shave but use a cut through for trimming the edges. I’ve twice given myself a cutthroat shave, and its excellent if you don’t cut yourself. They go blunt fast. I sterol my jeans to freshen them up, but they don’t last long at all. But better than and safety razor is 100% deadly in the wrong hands.

I have a scar on my left forearm where I was shaving and my kid ran I’m a grabbed my attention. As I turned I just nicked my arm and made a mess.

As I was I’m a rush, a made some quick butterfly stitches, from some quality plasters (thanks, NHS), filled the wound with superglue, held it to gather with the make makeshift butterflies, then pit a large plaster over the lot to stop any blood leakage through my short. All the time the wife was telling me I should do for stitches.

It’s only now 2″ long, I did a good job om lining it up. Though it was a super clean cut.

[Author]

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