This piece is all my own experiences and opinions, I am not a financial advisor or expert by any means! I have written this piece entirely myself & all opinions are my own, however some links may have been sponsored so I may receive compensation for this post. Thanks for supporting my blog!
I’m here to share how I SAVE MONEY without feeling the PINCH and while in DEBT!
Money! It’s a love hate relationship am I right? It’s something that is essential to our everyday lives and involved in some way in almost every part of our lives! A third of UK workers say they are living month to month / payday to payday with little to no money spare for emergencies or shocks. Which is scary for those in that position, trust me I know because Iv lived like this!! And when you live like this, it feels like you can’t save! How could you? You need every penny already??
I am NOT here to tell you to cut back on your daily cup of coffee or gym… HELL NO! We earn our money and we deserve to not have to cut back on these things which may be essential to many of us! For those of us who can’t afford to go to the to the cinema 3 times a month and out for dinner with friends every week for example, a cup of coffee on your walk to the office IS A TREAT you look forward to!
Our own situations decide what we consider a treat and what we can live without and it’s very small minded for people to be so broad as to say ‘if you’re so broke, why do you go to the gym?’ Just to use one example but you get what I’m saying?
SO I AM HERE to share the ways iv managed to save money for a emergency pot and a holiday fund without struggling financially & while in debt!
1. Rounding it up!
You’ll probably have seen on your online banking when you have a savings pot or isa linked to your bank account, there’s usually a option to round up your transactions. I personally use Monzo and Halifax and do this with both of my accounts. If you don’t know what this is, the bank will basically round up your transactions made to the nearest £/$ and popping it straight in your saving pot! So if you buy your coffee for £3.65 on your card, the bank will round it up and put 35p into your savings.
Now I know this doesn’t sound much… but it REALLY adds up and you barely notice it’s happening! Of course, if you don’t have the cash there to round up then your bank won’t do it! Meaning if you spend £3.65 knowing you only have £3.70 left.. it’s all good! This year since having my Monzo account, iv saved £158.54 from rounding up 347 transactions.. a 46p average! See how it really adds up no I have barely noticed because it’s been so gradual.
2. Saving small but often!
Saving anything is saving something! If you save even £1 per week, meaning £52 per year, that may not seem like much but if you did that consistently, you wouldn’t notice it missing from your pay or feel the pinch but over time it would add up. Now think about what you could realistically afford, could you afford £2.50 a week? That’s £130 in a year! £5 a week, so £20 a month… that’s £260 you’ve saved which is a great little lump there for a rainy day fun, maybe for your Christmas prezzies or the food! Think about what you can afford and what you don’t think you’ll really notice, then start saving that.
Consistency is KEY! Before you know it you’ll have a nice little growing pot and a habit will have formed without you even feeling it.
3. Emptying out your change!
This one I only started doing this year and oh wow, it’s actually been a game changer!!! So it’s super simple, when possible, whenever you come home, empty out your purse, wallet or pocket of any change and pop it in a pot.
You’ll find that those pennies and pounds really add up! And because it’s little and often, you won’t notice it generally. What I like this for is that whenever I’m a bit short on bus fare or cab fare or just need a couple of quid for the shop, I always can rely on that little pot having what I need! It’s not a long term saving solution by any means but it’s a really handy little emergency pot.
4. Starting small and staying consistent!
Getting good at saving is about creating habits and staying consistent! Make sure not to go overboard initially, trying to save more than is achievable or attainable. If you have a set goal amount then it’s good to break that down and see how you can realistically save for it.
Bonus tip… Follow the right people!
I have learnt so much, gotten so many offers & even free money just from following the right people! There are some awesome money bloggers which I love, here are some of them I think you should know about!
The Fun Money Club – iv followed Neesha for a long time now and can say iv made and saved so much money because of her! Definitely recommend checking out her Instagram, twitter and subscribing to her emails too to make the most of what she shares.
Bee Money Savvy – another great Money blogger, check out Emma’s instagram here.
The Money Fox– You may have heard of the money fox, she is well known on Instagram and has been featured in a few big newspapers also!
Thank you & I hope you have found this useful
I look forward to a new year and new savings goals, I truly hope these tips help you get started saving. Remember, start small and stay consistent!
Rachael x
Stock photos used in this piece are from Pexels
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