Saving £15k from scratch on a low income.

[Bookaholic73]

I have £0 in savings and want to save a £15k buffer for emergencies.

I make just under £3k a month, and my expenses are around £2.5k per month.

My plan is to lower my expenses as much as I can, pick up any extra shifts at work (few and far between) and save save save.

Anyone else on a low income, starting from scratch and want to save as much as they can?

Hiking, camping, outdoor sports. When you factor in subscriptions, gear, parking, coaching etc, it’s quite expensive.

I think this is such a great idea. Thanks!

I saved £25 a month from o2 to lebara (vodaphone) was £27ish and now £2.40 and after 6mths goes to £6

code here where we both get cash back

35GB is my plan

https://aklam.io/xwMYw1Kf

that’s a couple of hundred. Keep tweaking and you will save more

I only shop at Lidl with a strict meal meal plan and list . I buy the green fruit/ veg box from there £1.50-£2.50 I think . I make soup from the veg for my lunches and we either eat the fruit or I make muffins or smoothies from it . My shopping per week for a family of 3 adults and one child and a cat , including cleaning and toiletries is between £38-£50 per week . I buy and sell on vinted/ebay and shop all or clothes either from charity shops or vinted . The only things I buy new is under wear and pjs . I wait till either the sales to buy them of when Sainsbury’s has there 25% off week . My dad always buys me ne pjs for my Xmas

Think o posted on the wrong thread! Anyway still helpful to you op! I’ve managed to save £1500 in 2 years but I have a poor wage

With regards to the small things that easily add up - a coffee out, nice bottle of wine with dinner etc etc. Saving money isn't a punishment, but it can feel a bit like that if you are used to spending money to treat yourself, and want to cut back.

Reframe saving money as treating the future you. It doesn't matter if it is for something relatively mundane like new windows or the cars MOT. You are treating yourself to the best form of R&R - a reduction in money worries!

And once you have a little saved up it does become addictive. The knowledge that you COULD buy something often is enough to satisfy the itch, and 9 times out of 10 I don't buy the treats, because it is enough to know I could.

That's a huge amount to spend on hobbies and could surely be reduced.

Morning all.
I have sat down with my budget today (pay day) and I should be able to save around £500 this month after all expenses.
I’m hoping to save a little bit more, but we will see.

I don’t know why people think it’s helpful or interesting to be the 35th person to tell OP that she’s not on a low income 🙄 .
I wouldn’t cut out all of your outdoor hobbies. I also care for my disabled son and know that having time to myself outdoors is the only thing that keeps me sane. Reduce expenditure where you can, but don’t give them up completely.
‘Pay yourself first’ is my advice. A direct debit goes into your savings at the beginning of the month, and it’s treated like any other bill. That money has gone and then can’t be spent on day to day stuff.

If you are on half of this you are barely on full time minimum wage.

Ops pay is low for the south of England, that sort if wage does not go far with high housing costs.

You are doing really well op. You will find saving habits get easier over time as watching the money build up really incentivises you.

Sorry about the first bit I said

But it's still NOT a low wage

As has been proved really by OP's subsequent posts, especially the latest post by her with how much she's managing to save when she's decided to!

you are on the right track, keep saving, look at round ups and high interest bearing savings accounts (5-6% month for regular savings).

I also use use EverUp - it’s a super simple cash back voucher system. I have received over £1k over the past 20months.

Instead of paying by debit card, you buy a voucher and redeem it.. you get cash back instantly when you have purchased your voucher and can cash out the money back to your ac. There is no risk and the main benefit is using the voucher to buy regular every day items like groceries and pocket 3% sometime upto 5% cash back every time. For example you spend £100 week on groceries .. 5% over a year is £5,200 (x5%) =£260 cash back into your bank ac. I use this for Christmas shopping or birthday gifts.

My referral link is below.. you get 100,000 points that you can use to play mini games that can win you extra bonus money .. might be 3p or might be £5. Still little free wins add up.

I use everup for all my boring regular grocery spends / christmas/ birthday/ house / air bnb holidays etc it has given me back over £1k in 18mths.. and that’s not doing anything different.. and you can use your Tesco or sainsburys loyalty collection points on top.
eg you buy a voucher and use to buy groceries/ clothes/ H&M and a lot of other every day expenses.. there is Cotswold outdoors (hiking )/ decathlon / ikea and all sorts of companies.. see link hope it helps.

https://everup.onelink.me/9lgD/omqi26u4