Posted by: Princess | 2009-07-16

Is this a bad idea?

I have come to the conclusion that i am BAD with money. Really really bad.

I have put together a budget and if i stick to it i will be totally debt free by end of december. The problem is that i cannot stick to a budget, i always end up not paying atleast one of my bills. I was having a discussion with a friend of mine i said jokingly " someone should just take my cash, pay my bills with it, by my grocerys etc etc and not let me do it for myself cos im bad with money" . Thats when i realised it was a really good idea. I asked my mom if she would do this for me and she has agreed. I trust my mom.

Do you think this will work? Was this a bad idea?

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Our expert says:
Expert ImageCyberShrink

I'm also bad with money, so I'd better leave this one for other readers to respond to. Sounds like a good idea --- but also analyze what it is you keep wasting money on which isn't in your budget, and work out ways to stop that. And promise not to quarrel with your mom when she applies the proper rules

The information provided does not constitute a diagnosis of your condition. You should consult a medical practitioner or other appropriate health care professional for a physical exmanication, diagnosis and formal advice. Health24 and the expert accept no responsibility or liability for any damage or personal harm you may suffer resulting from making use of this content.

Our users say:
Posted by: Liza | 2009-07-16

This could work as a temporary measure. Sometime however you' re going to have to learn to work better with your money. If you cannot keep to your budget - there is usually something wrong with it. Perhaps you' re not budgeting enough for spending or entertainment which is a vital part to being able to keep to your budget. Trying to live like a nun without money to spend on yourself makes it very difficult to keep to a strict budget.

One way of finding out where you' re going wrong, is to write down every single financial transaction that takes place during the month. This includes the transactions where you buy bubblegum from the street vendor on your way to work. Do this for a month and you will soon start realizing where you' re wasting money and need to cut down.

I hope others have more tips for you.

Reply to Liza

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