So as you may or may not know i'm getting old (i'm 20 *Cries*) and i wish i had been taught a lot more about saving because when I look back on how much i've spent since my first job it hurts my heart and then I think about all the money I could've saved, all the what-ifs. So I thought i'd give you my 10 top tips for saving and what i've learnt from them.
1. No matter how much you earn you can always save.
I for one only have a part time job at the moment where I work 20 hours a week and I have set myself a goal of saving £50 a week, the great thing for me is that I get paid weekly so I'm able to do this quite easily but you can always do it if you get paid monthly too.
2. Open a savings account.
I've have learnt from myself and others around me that you're actually more tempted to dip into your money if you have an easy accessible savings account or if you keep money in a jar that you can see the money e.g. Having a separate savings account to your main account. (Look for a savings account that pays quite good interest) - this is basically like getting paid to pay money into your account.
Try to collect one or two money jars solely dedicated to coppers and silvers (small change) this way any change you have left over at the end of the week or day you can add to your jars. These can easily be cashed up at local supermarkets and even certain banks (Metrobank have a change machine).
5.Spend money on yourself.
I believe that you should give yourself some money to spend on things you want to buy, for example giving yourself £25 a month to indulge in anything you want instead of spending money randomly whenever you go out.
6. Just Save.
Saving doesn't have to be done for any particular reason, you can just save for the sake of saving because at least you know you have money to fall back on if need be.
7. Challenge yourself.
Set yourself a goal on what you want to achieve, you'll feel so good about it when you reach it and also you'll feel more motivated to reach that goal so you can then set yourself a new one.
8. Don't be afraid to dip into the money if you have to.
If the worst comes to worst make a note of how much you've taken out and try and put that money back in as soon as possible.
9. Pay out what you need to.
Before giving yourself your weekly allowance and actually taking the money out for saving you should always calculate what you need to pay out and calculate if you'll have enough to live off.
10. Have fun!
Saving isn't a chore, it's actually quite fun and you'll feel like such a mature adult (well I do anyway).
No comments:
Post a Comment