Sunday, 12 February 2017

5 Tips For Saving Money #2

Hello my budding little savers, I hope you are all well. Since my first money saving post was so popular (literally my most viewed post ever), I thought it only right to throw another 5 tips your way to make 2017 the year we all finally have a few spare pennies.

1. Only buy necessities

Don't spend money on things you don't need. I'm applying this more to your weekly shop. For example, I can't tell you how many times I've gone to the supermarket and planned on a £30 shop that has turned into £65. I now make sure I always write a list before hand and stick to it. Better still, do your shopping online, this way you'll be less tempted by items on the end of the aisle.

2. Save £1 or £2 coins

Now I'm a big lover of saving 1p and 2p coins because over time they do mount up however as I rarely carry cash it can sometimes be months before I've even reached £1 in my change jar. I decided that because me having change was such a rare thing, when I did have it I'd save a greater amount. I started with £2 coins and even though I don't come by them very often, in about 3 months I had over £50. Genius. 

3. Make a budget sheet 

Budget sheets can be as simple or as complicated as you like depending how well you can use a spreadsheet - my friend Bethan's is absolute genius! I would say start simple and work your way up. Start by listing all of your outgoings, total them at the bottom and minus that total from your salary or wage. (I'm sorry if that makes no sense. If you'd like to know more about what's on my sheet and how I calculate everything, let me know.) I've managed to navigate my way around the spreadsheet enough to have my holiday running totals on there which are altered by whatever I'm going to choose to put towards them. It also has my savings account total which again is altered by what I'm going to contribute. It's also colour coded hehe.

4. Sell unwanted clothes on Depop or Ebay

I mentioned this in my declutter post, and I firmly believe that if you haven't worn it in six months to a year then get rid of it. Especially if you can tell you'll never wear it again. Sort your wardrobe out entirely and take out everything that you want to get rid of. You can then decide whether it's going to friends, charity or for sale. I use a mix of Ebay and Depop to sell my clothes as they can reach completely different demographics. They're both simple and easy to use so make an account and away you go.

5. Separate your savings

I just had the one savings account for years but it became hard to allocate money to different things and I'd forget how much I added for what. My bank allows you to have multiple e-savings accounts and you can rename them depending on what they're for. It's well worth looking into it and finding out if your bank offers a similar service. If you don't bank online, withdraw the money and use tins or containers to sort the money. Easy.

And there you go, another 5 money saving tips. If there's anything you like to do to save, let me know!



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