Unfortunately we’re at that stage in our lives where we need to really focus on saving and investing in our future, whatever it may be. I’m not quite ready to invest in a home yet so I am going travelling to the other side of the world to see what that has to offer in the meantime ( I promise it’s purely for business and a little bit of pleasure)
I’ve seen a few posts lately around saving money and as I seem to be relevantly good at it I thought I would share with you my top tips and money-saving recommendations, Title inspired – Krept & Konan ‘Get a stack’ – I Just had to do it
‘A PENNY SAVED IS A PENNY EARNED’
Dam right ^ – I promise it isn’t easy but when you see money gradually building up into hundreds and then thousands it’s a pretty nice feeling and one I actually find quite obsessed with, the initial struggle to save soon becomes an easy one.
Now, I get paid weekly and then here there everywhere for other bits of work I do so no week is the same apart from the set wage I know I’ll get from my full-time job.
I forget about the extra work and just focus on that part of my income, I work out my outgoings and set that aside immediately and forget it’s even there and then I take out the same chunk of money and put it straight into my savings, again like it doesn’t even exist.
I do leave myself with about £20 max a week to play with, I know it’s not a lot but I’ve been keeping my spending at a minimum and not being doing much in my spare time, I’ve done nothing but work on my goals and the things that are going to further my career (to make me feel better for not going out) the money I get from extra jobs goes straight into my money tin.
You really have to be both Disciplined & Determined and you’re best of having a goal to aim for, times it by 3 and then keep pushing for it.
I would’ve started saving a long time ago but I got sidetracked and ended up going on extra holidays and doing a million other things throughout last summer… from November until now I’ve managed to save around £3000 (impressive right?) by April I want to save an extra £2000 and I know it’s possible if I keep doing what I’ve been doing.
It doesn’t need to be fancy it just needs to serve the purpose, you can however have different colours/styles and designs. The ONLY way I could have actual money and not spend it is to use one of these. I promised myself to only put 50p’s and above in… I must say I have more notes than coins in there (which is great)
I find that left over change, tip money from jobs and whatever else I have to hand will go into this money jar. I am extremely curious and always tempted to open it but I know if I hold out for as long as possible I’ll much prefer the sum total.
I sometimes forget to do this but it’s honestly the smallest thing that helps me out a lot, At the beginning of the week I withdraw £20 – £10 (depending on your income and your money-saving target depends on what you want to withdraw but keep it at a minimum) this money will stay in my purse/wallet and be my safety net during the week, you have to be disciplined with this especially if you know you have your card with you too.
If you need to buy some emergency deodorant or you fancy a bag of crisps or even need to grab a quick lunch use this as your maximum spend, remember this is needed for the entire week so spend it wisely.
I find it minimises my desire to snack and eat out and it also gives me a little challenge to budget everyday. I like to see a couple of pound left over, don’t ask why it just makes me feel super great about myself.
SAY NO TO COFFEE & STOP EATING OUT
Seriously, stop…If you were to buy 3 coffees a week from Starbucks or Costa you would easily be spending £10 a week and that’s just over a the space of a few days, I know people who grab one everyday and it seriously is one of the biggest money wasters. You could save so much money from minimising your morning treats and going out to buy alternatives. I’ve recently purchased the Nescafe gold mocha coffee, you get 8 drinks in a box for the total of £2.50 (31p a drink for 8 days!) they taste so good you just have to spend a little care when making it. The same applies for many other alternatives hot drinks just be sure to stock up on your favourite flavours and enjoy!
Basically all of my money goes on food, I’ve improved my uncontrollable spending when it comes to eating out and I hardly do it now as I love making my own healthy lunches and trying new things. When you do a big ‘budgeted’ food shop at home you’re more than likely to cook and prepare meals and snacks for the week. I cannot stress how much money you will save from making your own lunches and packing pre made snacks.
Use absolutely everything in your fridge/freezer, plan meals in advance so you don’t over spend on random shit and then prepare meals in advance, I love to make meals in bulk when possible..
Online banking is my life, I use it every week without fail. I have a standard account and a savings account and both are linked to one another. Like everyone else I have direct debits for all my monthly payments and I much prefer that as I feel like I’m not missing out on much so with that I made a direct debit to my savings account each Friday (Payday) so straight away my decided amount of money I want to save is in the savings account, this way I resist temptation to hold back the extra £20 or so when going to manually transfer it myself.
Secondly online banking allows you to see what you’re spending, with my online banking I am able to view a pie chart of costs it picks up Food, Bills, Travel etc.
This is a great way of monitoring your spend.
MAKE A PLAN – KEEP A TRACKER
This is the most important part above all, Create a chart to show how much money you save each week and how much you save each month, make sure you always see an increase or a level flow in the savings, if you do have months with left make sure you note what caused the ‘plummet’ just be sure to reflect on your spending and on your savings.
Schedule your spend just in your diary, if there’s certain months with more birthday celebrations or things to do then just be sure to restrict yourself from having mid-week treats just to create a balance, give yourself a budget (It doesn’t hurt to increase it a little just so you feel better when you don’t spend it)
I hope you’ve enjoyed my short but sweet money saving tips, I swear by them all every single day and I’m so proud with how disciplined I’ve been. It teaches you the value of money and really put’s things into perspective.
If you’re looking to save for a deposit on a home or save for the car that you’ve always wanted you should challenge yourself to save for other things on a smaller scale just so you can figure out what works for you when saving.
One thing I will say is don’t leave yourself broke and sad, If you want a meal or you want a night out then please be sure to do it, Money comes and goes so don’t deprive yourself of living a life trying to save for one.
What are you saving for? How do you save money?
Leave a comment below and share with us all, Happy saving everyone