Award for the longest blog post title ever goes to me, right? I wanted to share my number one way to save up money, whilst still being able to make some of those naughty purchases that we probably shouldn’t, because I’ve been doing this since the start of the year and it’s working wonders already. It’s easy to stick to and as I keep it up, I’ll have lots of money set aside for when I genuinely need to use it.
So my one foolproof way to save money is simply to take 10% of whatever you earn a month and set it aside. It’s much easier to do this if you open up a separate savings account and put 10% of what you earn every month into that savings account rather than keeping it in your regular bank account as it’ll be with the rest of your money and you’ll be more likely to spend it – maybe even without realising.
Obviously, being seventeen and living at home with my parents, I have zero expenses in terms of mortgage/rent, bills or food. Whilst some people my age who have jobs pay their parents a small amount every month to contribute to these expenses, I luckily don’t have to, but I accept that some of you probably do. Since you don’t want to be saving money that you will definitely need to pay your bills etc, then take the total amount of your monthly expenses away from what you’ve earned that month, and 10% of that figure is what you should put away. It sounds super quick, easy and straightforward, and that’s because it is. It makes saving money so simple and means that you aren’t saving all of your money so that if you want to splurge on Becca Champagne Pop or a new dress from Topshop, like I often get urges to do, you can actually afford to do it and still have comfort in the knowledge that you do have money saved up for a future occasion or event!
I know it’s only one very simple piece of advice but it’s incredibly effective, it works around your income and it’s something that still allows you to be flexible with your money whilst being able to save up for something more expensive or something you’d like to do in the future.
Have you got any ways you manage your money and save up?
Check out my previous advice posts!
4 Ways To Get Motivated & Stop Procrastinating • 5 Ways To Stay Organised With Blogging • MONDAY MOTIVATION • My Blogging Story: Why I Started My Blog • How To: Write a Strong Covering Letter That Will Stand Out • ‘Fuckboys’ & How to Avoid Them • 8 Things I Learned While Living in Australia
Photography by Amy Beer