Growing up, I was the worst saver in the world. I couldn’t keep £1 in my pocket without desperately wanting to spend it, but as I’ve got older and into full-time work, I’ve got so much better and now I have plans in place to help me save.
My boyfriend and I are currently saving to move out, so it makes it a lot more important to save than it ever has been before, hence I’ve been working so hard to find ways that help me save.
I found there was a lot of advice for how to make money on the internet, but not so much help on how to simply save, so I thought I’d share with you the things I have found have helped me save!
Have a Plan
Before you start setting up savings accounts and moving money around, you need to set out a plan of how you’re going to earn money and how you’re going to save it.
You don’t want to go in blind and either leave yourself short of money or put yourself at a disadvantage by not putting as much as you could of away. If you sit down and look at your reliable average income, as well as any extra money you can guarantee you’ll receive, you can then take in your living costs and direct debits into consideration and set an amount to save either weekly or monthly.
One of the main things to remember when saving and setting out your savings plan is to be realistic. Don’t set yourself unachievable goals because you’ll only put pressure on yourself and feel really down when you can’t reach your target.
Use the figures you’ve got about your reliable income and set yourself a realistic savings target and a realistic figure to put away every payday.
My best advice would be to never leave yourself short of money by putting too much in savings, you’ll only get upset when you’re low on money and having to take money out of savings is a horrible feeling!
Instant Savings Accounts
The way I save is to have ‘Instant Saver Accounts’ attached to my current account. I can quickly and easily move money from my current account into my savings account where it will sit safely and even collect a small interest rate, increasing the total of the account over time.
I bank with Natwest and I find using their mobile banking app and Instant Savers Accounts the easiest way to manage my money and see how much is in my savings accounts, all on my phone!
Live Off Cash
The easiest way to keep money in your savings and keep your outgoings to a minimum is to live off cash. I often find that I overspend really easily when I pay for everything on a card because I don’t keep track of my balance, whereas if I pay for everything with cash I can easily see how much I’m spending.
I think a good way to track your spending is to pick a weekly amount and draw that out in cash and use that to pay for everything for the week, then you know exactly how much you’re spending.
I’m no saving expert but these are just tips I’ve picked up from experience, so I hope they’re useful if you’re trying to put money aside for whatever reason!
I’d love to know if you have any tips for saving, so let me know in the comments.