Managing your money is hard. It’s even harder when you don’t have any. When you’ve got more outgoings than you do money coming in. It’s a really shitty situation to be in.
I truely believe budgeting and money management should be taught in schools. The amount of young people getting themselves into debt or having to declare themselves bankrupt, is just shocking.
Debt can really get you down. The anxiety and worry of Baliffs turning up at the door is something no one should have to deal with. Even if you manage to avoid getting yourself into debt, saving seems impossible for so many. I mean, the property ladder seems a distant dream for so many, and it shouldn’t be that way.
A change jar – I’m sure so any homes up and down the country / world wide have a jar they fill up with loose change. 2p’s etc. Why not start filling it with more than coppers? I put all pound coins in a jar. It adds up fast and to a good amount. Just £1 a day adds up to over £350 in a year.
Set up a standing order – Set up a transfer from your main bank account to a savings account / ISA. You won’t need to think or worry about it then, as it’s all done automatically. Would you notice if a tenner a week dissapeared ? That’s over £500 a year.
Cut down – This seems pretty obvious, but take a look at your outgoings and ask yourself if they’re all essential. Do you really watch all those TV channels? Can you cut your package down? Magazine / website subscriptions etc. Can you share and split the cost of your Netflix account?
Shopping – Got an online clothes or makeup shopping habit? Put things in your cart and leave it a couple of days. I can’t tell you how much I’ve saved doing this. It really helps cut down the impulse buys. 70% of the time when you re check your cart you decide you don’t actually need / want that lipstick or those shoes after all.
Get Cashback – I’ve mentioned Quidco a couple of times in blog posts and it’s because I genuinely love and use it. Not only does it work for shopping online but you can activate your debit / credit card so that it works on the high street too. I’ve heard a few people say it doesn’t seem worth it as the cashback rates are often below 10%, but that adds up ya’ll !! Especially if you’re using it on your daily coffee. The rates often go up, and there’s extra ways of earning rewards. I’ve personally made over £250. Go sign up here and you won’t regret it.
Rewards cards – Boots, Tesco, Nectar etc are all worth signing up for. I like to save my points up all year for Christmas shopping and it definitely helps. I know at times in can seem like they aren’t worth having but keep with it and the rewards will show. Many stores have bonus points offers throughout the year so if you can try and stock up during these times
Money Management Services – These are increasing with popularity all the time, and it’s not hard to see why. It’s like having a friend that messages you when you’re getting close to your budget / running out of money. It lets you see how much you’ve spent at individual stores and is 100% personal to you. It essentially does all the work for you. Including saving money away for a rainy day.
I hope you’ve managed to take something away from this post. Saving doesn’t have to be impossible.