Oh Internet, on this friday morning I’ve decided to look at my finances. Not very nice it is.

I’ve done the maths on which accounts need the basic amount and it’s come up to supprisingly not alot compared to what I thought. And after looking at my basic bills (excluding mobile as it’s not a fixed amount) I wondered why I’m so fucking poor all the time, it just doesn’t make sense. I’ve got a fair bit of post bill cash in there, so it’s not making alot of sense.

So I’m going to do something rather radical. It’s obvious with a wallet full of cards I have no ability to control my spending (although it is rather reasonable). So I’ve got a pre-paid MasterCard.

Now the working on this is that I lock up my other cards and only use this MasterCard, which leaves my bank account free to do the following:

On pay day I will put £200 on this mastercard (which will clear same day I’m told), that leaves me with only access to those funds, I will also set up a standing order to transfer an additional £100 later on in the month (initated on the 10th for clearing around the 15th). That then leaves £100 which will be standing ordered out on the 24th to add an aditional repayment to my overdraft and my former credit card (50/50). But for this month I’m going to hold back on that as I’ve got hopefully one of my last two dentist appointments (which is about £120 a go). I will also take out £20 cash from the cash point and that will be my hard money for the month (I’m never really in a situation to be using cash transactions, so it’s not much of a problem).

The rest of the money (the bill money) will be sent out to their corresponding accounts (I’ve got an account just for direct debits now) on the 25th (which is pay day).

So in theory that should do the trick. Also it’s worth noting that my mobile will be paid off from my direct debit account next billing cycle when I set up the direct debit. But for now it’s coming out of my spending money.

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