Morning everyone, as we approach the end of a financial year where the self-employed count up their earnings, I thought I would share my top tips for saving money – everyone is always trying to save money but spending lots at the same time!? how is best to keep track of what you are actually spending and popping some pennies away alongside? Here are my top ten tips..
- Create an organised folder or a notebook which is for your money, accounts and money based paper work only, keep note and track each month Jan / Feb / Mar – then you can clearly see what happens each month.
- Track using your account online, online banking is great to track often, transfer money quickly and see standing orders you have set up. Smart phones provide the apps now for this to work even quicker.
- Create standing orders – by creating standing orders say for your insurance, tax or maybe going into another one of your separate saving accounts means that when that day comes around that you set it up for (maybe just after your pay day?) you the never have to think about it. It’s automatic and you can keep up to date with viewing it.
- Paper staments, now lots of people do decide to go paper friendly and save the paper this is usually all fine and great if you have online banking but if not I would fully recommend keeping these monthly and keeping them in your folder to clearly see what goes in and out and keep on track.
- Check your post – all your post check it, all the bills and letters you don’t want to read deal with it immediatly or the day after dont leave it to grow or worry about it, think; get it sorted out; create an action and put it in place and then it’s done.
- Create a car pot, a holiday pot or an ISA or a savings account and then a money pot in which you can spend daily; this will keep you from spending to much or dipping into your savings if you give yourself an allowance you can have.
- Always shop for bargains even if you dont need to it all adds up in your clothes, make up and supermarket shopping every pound adds up and can go towards something you want to save for whether it a car/holiday or house.
- Think ahout outgoungs every day do i need to spend £3 on a sandwich or can i make one at home with what i already have from the supermarket shop all the little pounds add up.
- Write down three things you want to save for they are goals, a car or a house or a holiday and think of these every day; remind your self why you need to save those little pennies and think about how you can add to that pot even if it’s a penny a day.
- Try the penny a day challenge, or the spare change challenge so pennies go in everyday or at the end of every week whatever is in your purse goes into the pots. Or another challenge that works very well would be the yearly challenge where you place 1 pence on January the 1st as it’s the first day and 2 pence on January second. Later on in the year on the day 267 you would put in £2.67 if you keep this up over the year you save hundreds in a pot it’s amazing. But you have to remember to keep it up.
Hope this helps some of you little money savers and best of luck, thanks again for reading!
Much Love J x