Latest Instagrams
Thursday, 12 May 2016

Saving Tips from a Spendaholic

Saving money can seem like a massive challenge, almost impossible especially if you have a spending habit just like mine. You know you've got a big old mission ahead of you, but fear not. Saving, as I have discovered as not as hard as you initially think. I have complied a list of tips for saving, especially for those spendaholics among us.
1. Savings Account. You need to open a saving account, I have an ISA whatever that is. All I know is that its attached to my bank account, holding all the saved money which has reached over £50 till very recently. The reason you need to do this, is because it separates money for spending and money for saving. It reduces the temptation to spend it as you have to go through the effort of consciously moving the money from one account to another. It's just a small barrier to put you off spending it, rather than having it in your account where you could quite easily spend it.
Now if you do for any reason have to spend this money, for example making a huge Asos order for a special occasion but knowing your only keeping one thing. Then write down what you took out, and make sure when you get that refund that the money goes straight back in.

2. Tips/ Loose Change Jar. Now if your a teenager, student or indeed anyone else who works in the kind of job where you get tips. Get a jar or piggy bank, seal up the lid, cut a hole in the top and store all of your tips in here. Firstly not only will you be amazed with how much it adds up, but you can then put this much larger amount of money towards something special or simply treating yourself. Rather than snacks. Do the same with loose change, when you've got the £2 sitting in your purse its so easy to spend it and not notice as much. You'll be amazed by how much it adds up to, and if not being transferred into your savings account it could be used to treat yourself after all that saving.

3. Have a Goal. If you have something to aim for, you will do it. I have attempted saving so many times, and failed because I was saving for nothing. Now I know I need money for Australia I am more motivated than ever, and thats what stops me spending because I know its going towards something rather than the future.

4. Treat yourself. Saving is hard when your a spendaholic, trust me I feel your pain. However you can't go from shopping as soon as the money hits your account to doing nothing, allow yourself the odd treat every now and again. Perhaps when you reach a saving milestone treat yourself to a lipstick, however don't treat yourself to your whole savings account worth of makeup and do not withdraw money from your savings- use what you have in your account.

Now these may all seem very simple and boring, but I have gone from spending just about every penny I earn on makeup too nothing and getting  a substantial amount sitting in my account ready for Australia. The key is aiming for something, saving for nothing is never going to motivate you to stop that spending habit.

Do you have any more tips for me, I am open to try anything to improve my saving!

Heres a new blog for you to check out, Love Yourself Beauty.
Follow

6 comments:

  1. Saving money can be really hard if you don't have an END goal, like I'm going to save this much money or...I want to save up for this item. I like to give myself a goal and see how fast I can reach it and then give myself a new goal...etc.

    Batty4Beauty.com

    ReplyDelete
  2. Great post! Amazing tips! I need to start a savings account! <3

    Amelia | http://amelia-g.blogspot.com.au/

    ReplyDelete
  3. I have really cut down on my spending at the moment I found emails from Asos, Look Fantastic etc all got put in my spam folder to stop me going on them.

    Emmy | Emmys Beauty Cave | Bloglovin

    ReplyDelete
  4. I started two savings accounts as soon as I started work and it's the best thing I ever did, such an amazing way to keep track of your money and to refrain from spending it all!

    alice ♡ // beautybyalicee

    ReplyDelete
  5. Ooh the goal tip is a really good one, I am saving for "the future" which is vague and consists of a masters degree I haven't applied for, but I also really want to go to New York this autumn. So that's a much more tangible goal. So many great ideas! Thanks for sharing x

    ALittleKiran | Bloglovin

    ReplyDelete
  6. These are great tips. I used to be rubbish at saving money. Well, still am tbh. Haha. But I've got better now I have a car to lay for! Having something to save for is really helpful. x www.aimeeraindropwrites.co.uk x

    ReplyDelete

Latest pins

Subscribe