This a short and sweet post for you all today a little bit like myself lol (haters would say otherwise). So right now, I am sitting on a file line between saving money and living my best life.
From a young age I was taught the difference between want and need, however right now I struggle to differentiate between the two. We all know the saying “money doesn’t make you happy”, but let’s be honest it make us happier and life probably easier.
Theres no better feeling than stability and often finances allow you to provide yourself with just that. People save money for many different reasons such as; emergency funds, travel or financial freedom. Whatever the reason your choosing to save, having more than enough is always the better option.
Before you start saving it is important for you to know what your goal is. Is your goal realistic and does it fit in with your budget?
Spending money is much more fun and easier than saving, but lets look at ways we can make saving money as painless as possible.
Here are 5 tips to saving your mula baby:
- Cut out convenience
This is definitely a major area of concern for me that is in need of an intervention.
Convenience is convenient except when it comes to checking your flipping account and wishing you never spent that £20 last week on a Uber (we’ve all been there). The underlying fact is that every little thing adds up.
That on the coffee on the way to work, the quick stop off at your local takeaway. The key is to go through your bank account and look for the places where you’re routinely spending silly money and look for alternatives, i.e. reusable cups and meal prep plans from home. It’s likely that you’re spending money just for convenience and it all adds up baby.
- Set your saved money aside in a savings account
Put your hands up if you’re the type of person that will put money aside in their savings account but will make transitions to your current account through out the month and eventually find yourself left with nothing. Yep, me too kmt. So why have I listed it then? because it’s about discipline my dears and I am still working on mine. Check that (Phaedra parks voice). Ok ok so, ensure that the money you’re saving gets put into a savings account as fast as possible to keep it safe from yourself (lol shut it). Leaving it in your wallet or on top of the kitchen cupboard means that it is more likely to be spent on something else. Set a direct debit for your savings, what you can’t see, you wont spend.
- Identify problem areas
It is always a good idea to create a budget to have a clear idea of your finances, expenditure, outgoing and income. Once you’ve created your budget and you’re paying more attention to how you are spending your money, allowing you to identify your “problem areas” where you think you could cut back.
- Start a side hustle
Cutting back on your spending is great, but if your able to make some extra money, you will be able to save more. Maybe you’d like to make a little more than your current job or maybe you would like to start a side hustle with the hope to turn it into a full-time business. Either way its a great way to improve your financial situation.
Collect loose change
We have already established that every little helps. So yes, we are going to appreciate the value of loose change. Purchase a money-box and every time you find loose change in your pocket or lying around the house pop it in your money box, you’d be surprised at the results.
If you have any money-saving tips ideas, comment below and let us know. Good luck and happy saving.
Lots of Love,