Tuesday, November 14, 2017

Tips for Saving Money*

Hey lovelies, so after my post about saving money for Christmas I've decided to write about some tips for saving money, I'm in a situation now where I really need to be saving money for when I move house in June, saving money to build up my savings and for my PhD so all round I need to be really careful with money.

  • Find out where you're spending too much money - For me this falls in a few categories, coffees and food out, my phone bill ( I pay £65 a month) and utility bills as I leave my lights on all the time and I like my heating on most of the time. I would always recommend sitting down and breaking down where your money is going and from there you can look at what areas you're spending too much money in, for me I could tell straight away just from my expenditure! Sometimes you can be spending a lot more than what you need to be where you don't need too; like I could use with making my own lunches and making my own coffees in a reusable cup.
  • Think about the brands you're buying - As a student I have to be so careful with spending too much money on food, and believe me it is so easy to do. Sometimes it's so much cheaper to go for the own brand of the store you're buying from and they're not always awful. I personally shop at ASDA as it is the closest to my home, and they have some amazing bargains in their own brand range such as a 500g bag of pasta for 25p. Most large stores will have their own brands that are always pretty affordable, if not Aldi and Lidl are great places to shop that are really affordable too. 
  • Learn to say no - When I was in my first and second year of university I had a massive issue with saying no to going out, going to the cinema, going shopping and going for food. I spent so much money where I didn't need to simply because I struggled to say no. Why this isn't necessarily a saving tip it is so easy to impulse buy, and I impulse buy way more than I need too. 
  • Consider where you are financially - Now if you're in a really bad financial spot - I have been before too sometimes it is worth considering taking a small short term loan. Now let me explain, as someone who once spent a few hundreds pounds into their overdraft without noticing I was left in a really shit position where I was receiving a ton of late bills with fees, and overdraft fees. For me it worked out better to take small loan and pay it back, than wait it out till I got paid then sort my money out. If you find yourself in a similar position it may be worth thinking about and Cash Lady* offer instant payday loans with re-payments in instalments. I understand this is a sensitive subject and won't be something for everyone. 
  • Use Charity shops/Ebay/ Depop - In our day and age it is so easy to walk into town and spend a ton of money on new clothes, books etc., where there are some great alternatives to buying such a charity shops. If you prefer online shopping there is Ebay and Depop which are always great for some finding some steals. If you're looking to sell some of your old clothes or bits and bobs eBay and depop can be good too - or you could donate them but that ones up to you!

Thanks for reading and I hope that these tips have been really helpful for you, I'd love to know how you save money and if you have any tips feel free to share them in the comments. 

If you enjoyed this post please check out How I'm saving money for Christmas and Budgeting in December

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