Tuesday, 24 March 2015

Top Tips For Saving Money

I'm not going to lie, saving money is actually one of the things that I'm really good at. I'm just really not one of those people that could go out and blow all my money in one go. I  in a world of fashion and beauty bloggers I'm sure that's not the case for everyone! I would assume that most of you are guilty of spending too much...even I am from time to time. I thought I would share a few tips I use that seem to work pretty well for me when it comes to saving money.

Set budgets 
This may seem obvious but actually setting a certain amount that you allow yourself to spend each month is really helpful and just gives you a basic guideline to stick to. Obviously to help with this, taking note every time you buy anything (and make sure you write everything!) would help to make sure that you don't go over your budget and might make you realise how much money you spend on pointless things e.g. magazines, chocolate... 

Have list of things you want and a list of the things that you really need

As I just mentioned, I'm sure plenty of you are guilty when it comes to buying things that you don't really necessarily NEED. I find that it really helps to have two separate lists - one with the things that you just generally want to buy for sheer satisfaction, and another list of things you actually need. That way you can prioritise the things you need and maybe set aside the things you want. Just buy something as a treat every few weeks or so. I mean do you really need another pair of black skinny jeans when you already have 7...?

Have two bank accounts. One for savings and one where you put the money you want to spend

This works so well for me. I have a paypal account which is what I use to buy the majority of my stuff with and then I have two savings accounts which I never really use. One of them I don't even have a card for so it's difficult for me to use anyway! It's so good though because I always pay money into it and the savings just build up.

Think about the bigger/more expensive things you would love to be able to afford

If you're one of those people that spends your money as soon as you get it, you may find that you never actually manage to save up enough money to buy the bigger things you would love. Maybe it's a laptop, new phone, designer bag? If there's something that you want to save up for, it's really helpful and motivating to have a goal amount that you need to save up to (for me this is to save enough to do some travelling!).

Get a part time job

Obviously if you're already working full time this does not apply!.. but if you're at school/college/uni, having a part time job is a really good idea and a great way to make extra money. I'm very lucky in the fact that I live at a hotel my parents run so there's always evening work for me to do. Also a big plus if you're a waitress, waiter or work in a kitchen is tips! Obviously this can vary place to place but where I work, people tend to be generous with tips and I usually end up with around £30 a week extra. This ends up being the money that I use whenever I go shopping/out with friends.

I hope these tips are helpful! What's your top saving tip?