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Saving Money

(14 Posts)
JemmaPiggyPot Fri 15-Jul-16 16:06:05

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Kbear Fri 15-Jul-16 16:34:51

I save for christmas by putting money in a regular saver account with the Halifax via my online banking every month and I can't draw it out for a year so I know I won't touch it!

JemmaPiggyPot Fri 15-Jul-16 16:41:05

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ButteredToastAndStrawberryJam Fri 15-Jul-16 16:46:31

Might be an annoying phrase to some people but 'take care of the pennies and the pounds will take care of themselves'

mrsclooneytoyou Fri 15-Jul-16 16:58:30

I save the change. So if I buy something for say £7.30 the bank rounds it up to the next while number and it goes into a savings account. Soon adds up

Hamiltoes Sat 16-Jul-16 12:14:57

I use an app called YNAB and set up all my little savings pots (and monthly/ weekly budget pots too). Every time I have income I send it off to my pots virtually and when i spend i take the money out of the pots. Keeps me on track and helps me with yearly bills etc, I'd really reccomended.

cozietoesie Sat 16-Jul-16 12:34:50

In my childhood home, that was 'Many a mickle maks a muckle', Buttered. smile

babsmam Sat 16-Jul-16 12:41:57

Make it a regular bill so it always goes out and you have to budget with the remainder. Doesn't take long not miss it anymore

BarbaraofSeville Sat 16-Jul-16 20:11:43

You need to do a proper budget to list all incomings and outgoings - there is a good one on moneysavingexpert.

If you haven't done that you don't know how much you can afford to spend on fripperies that aren't strictly necessary (coffees, magazines, bought lunches, that sort of thing) and it is often spends in this area that are too high, spending money that might more usefully saved for things like Christmas and holidays (also things like washing machine breaking, car needing replacing, vet bills, insurances)

People often talk about these being unexpected, which they're not at all - anyone with a house, car or pet will face these expenses sooner or later, it's just the amount and when that is unpredictable. So it's important to allow for them in your budget.

You may learn that you are spending too much on coffees and lunches and if you cut down a bit, you can put money away for Christmas and holidays.

Of course, you may find that you don't have enough coming in to cover your basic expenses so you may have to try and increase your income.

The budget planner also advises on getting the best prices for everything in the money makeover - this is always worth doing even if you have plenty of spare money, because, after all, wouldn't we all want to spend less money on boring things like gas, electric and insurance so we have more left to spend on fun things?

ButteredToastAndStrawberryJam Sat 16-Jul-16 20:28:40

'Many a mickle maks a muckle', not heard that one before, I like it cozie smile

specialsubject Sun 17-Jul-16 11:47:55

Christmas is not an essential and should be the first thing to go. Take action now and declare ' no presents ' among all adults. Stops the wasteful exchange of useless over packaged tat as well as saving cash.

lovelyupnorth Sun 17-Jul-16 14:55:07

Meal plan. Saves us a fortune on food

Switch electric, gas, broadband, phone, insurance and bank accounts.

Use cash back sites when you switch.

We have regular saving accounts set up for holidays, dentist and others.

Did I mention meal planning

Check out moneysavingexpert.com

BackforGood Sun 17-Jul-16 14:58:57

I've always had a standing order going out of my account on pay day, into a separate saving account.
Over the years, there's been many a time when I've had to then use some of the saving to make the money last the month, but you are conscious that you are 'using your savings each time, and try not to. You do also get used to your salary being the full amount, less the savings amount - bit like you are aware of the cash that comes into your account each month, rather than the amount you earn gross - it's the same, you get used to expecting the amount after the saving have gone.

heavenlypink Sun 17-Jul-16 15:05:49

I save a pound a day (transfer £7 a week between accounts) and signed up for 'Save the Change' with Lloyds Bank

Meal planning as previously mentioned and generally being frugal - no impulse buying!

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