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Monday, May 26, 2014

5 Handy Tips for Saving Money

Everyone always wants/needs more money whether it's to go travelling, to buy that latest hyped up beauty product, a new wardrobe etc.  But money sadly does not grow on trees and is hard to come by and so you have to work incredibly hard to earn it.  Here are a couple of tips that I live by when trying to save money:

source: pinterest

1.  Budget your monthly spends.  Write down how much it costs you for living, food, transport and miscellaneous and then work out how much you are left with.  Be honest with yourself about your spends, it will help you in the long run.

2.  Once you've established how much money you need a month to survive then you can move a set amount of money into a savings account.  Move however much is easy and good for you and remember you can always decrease or increase the amount to whatever suits you.  Try not to leave yourself short so that you don't transfer money back into your current account.  Also try to move the money on the same day every month to have consistency eg. on payday, that way you cannot spend it as soon as you've received it.

3.  Most importantly, try not to touch the savings account!! This is the hard part but just try to forget about the savings account, don't even look at how much is in there and you won't be tempted to spend it.

4.  Prioritise your spending! If you're saving for a holiday or wanting to move house, then you need to prioritise your spending.  Think to yourself whether you really need those pair of shoes or that cup of coffee or could the money be put to something more beneficial.

5.  Nobody likes coins taking up all the space in your purse, it's heavy and bulky.  Why not pop all your change into a jar? Save your change.  As my Grandee always says "look after the pennies and the pounds will take care of themselves."

I hope these saving tips help and are of some use to you.  Let me know your thoughts and what your saving tips are?


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