As it is now 2013 (scary!) and lots of people have thought of new years resolutions, I thought I would help some of you! I know a lot of people aim to be better at saving money so I thought it would be a good idea to write a post to help! I have nothing in particular to save for, although I would love an Ipad! However I know my friends are saving for holidays, my sister is saving so she can buy a new house in a few years and a wedding (my sister got engaged on new years eve eve! Her boyfriend was going to propose on New years eve, a year to the day they found out they were pregnant, but he couldn't wait! Aww!) to prepare for! Here are a few of my tips for being savvy with your money!
Image from Tumblr
Establish the difference between want and need - Although sometimes it is good to buy things you just want,(the other day I bought a new bag, I didn't need one but sometimes it's nice to treat yourself!) you really need to think about a few things. Are you going to use/wear this item? Is this worth your money? I went shopping with my cousin the other week and we went into a store, she picked up two peplum tops in different colours and bought them, she told me she already had them in about 5 different colours so she wanted more. However once she purchased them she said "I don't think I really needed that." Something I do in shops is try everything on. Literally everything I like the look of I try on, however when I find things I like and that fit I sit down and consider whether I would wear something and whether it is worth the price.
Imagine your bank balance in your head - I constantly know how much money I have. If I'm shopping and I am going to spend £50 in Topshop for example, I will think "okay, I have £960 in my bank and it will go down to £910 if I buy this, do I have enough for the other items I want to buy?" I never buy anything if I can't afford it. I always imagine what my bank balance will be if I buy items, that way I always know how much I have left to spend!
Image from Tumblr
If you want to save, set a limit each month - I always do this, although I am slightly obsessive with saving. If I just got paid and have £1000 in my bank, I will set a limit, for example. "This month I cannot go below £700." It just means that if something goes wrong or my work messes up my pay for the next month, I always have something to fall back on. Each month I increase the limit, so the next month I might not go below £750, therefore you are saving up more and more money gradually! I don't understand when people get paid £200 a month for example and spend it all so the next month they get paid £200 and the cycle continues!
Keep receipts and write down purchases - Sometimes you don't realise how much you spend on tiny menial items! When I write down everything I buy, I notice that I spend a lot of money in Costa and Starbucks, which adds up each month! So by simply not going to Starbucks just because I'm a bit bored, I'm saving money!
Those are just a few of my tips! Obviously some people may not agree with them or want to do it differently, which is cool, each to their own!