If you’ve made a resolution to save money then here are rules to shave off all those extra bits of money that seem to flutter away from your bank account each month. Stop these bad habits now and see the amazing difference it will make to that amount you can save each month.
Buying Food / Drinks on the move
This means all those coffees you buy, all those expensive snacks at train stations, your university or on the way to work. If you only spent £3 a day this would save you £60-85 a month (up to £1000 a year!).
If you are partial to a coffee in the car or on the train, I’ve posted few different blog posts on DIY coffee that tastes the same but less calories and saves you more. Also try and replace as many drinks as possible with water – it’s free!
Going to the shops every night
Eating food as you go is as bad for your body as it is your bank account. When you’re hungry and tired after a long day, you normally make worse decisions and just grab what you’re craving (high carb, high salt, high sugar!).
Homemade cooking that’s pre-planned and thought out will take you a few hours a weekend and ensure you’re saving and set for the month.
Driving, tubing, busing, Ubering everywhere
If you’re fit and healthy, you should walk anything under an hour as a general rule. If you’re en-route to getting healthy, aim for 30mins – as a minimum.
You’ll soon see the weight drop and your bank account stay stable.
Spending too much to socialise
I love spending time with my friends and I love saving money – you can do both these things at once. I’ve got plenty of posts that can help you do both. Check out my posts on cheap and free things to do in Autumn and Winter for ideas!
Spending money that you could save
You wake up in the morning, check your bank account, see you’ve still got £200 in and you get paid in a few days so you order some clothes, go for a few drinks and it’s all gone! Well my final tip is that you should open up a second bank account on day one or before you start the challenge. Just stroll into your local branch and request to open a savings account. There are lots of accounts that will do many things for your money but for now you want a ‘out of sight, out of mind’ bank account to store your money.
Since I implemented this, I do forget about the money in my second bank account until an emergency pops up (or perhaps a holiday to book!). Also with online banking it’s super easy to move the money back when needed.
When you get paid, put any bonus, any extra hours or anything you can spare into this savings account and live as you normally would that month. I know you want to buy that new handbag with your well earned bonus (and you always deserve it) but save up for a couple months and the pride you’ll have will be way more than that new bag would have ever given you.