What advice would you give younger/past self

[Barboursandbaking]

Hi everyone,

As hindsight is a wonderful thing after I just wondered what advice you’d give your younger self with regard to money or any lessons learned? I am trying desperately to get better with money and save more and fritter less (easier said than done at times!) and would so appreciate any pearls of wisdom. I’m always in Aldi for our food and walk instead of public transport as much as we can and those kind of things, but on a larger or long term scale I feel a bit lost. 😬 I want to take responsibility and fully appreciate this is a broad question!

Don't have an overdraft.
Meal plan and make lunch to take to work rather than buy it.
Have a list when you go food shopping and stick to that list.
Put away an amount in savings each month.

Always take up work pension offer
Regular savings
Buy ISA
Buy well buy once, shoes, coats, furnishings etc.

Buy your home. I moved out and was renting. Never really thought about buying and now I am stuck renting, can't afford to save deposit to buy as rent too much

Be brave and throw caution to the wind

Save your rise. So, if you get a pay increase/promotion don't use it to increase your general standard of living or fritter it away. Put it into savings and once they build up you will have more life choices. Always pay yourself first - in other words put something into long term savings every payday even if it's only £10. It's the habit that's important not necessarily the amount.

Keep tabs on your spending - there are apps to help do it. Knowledge is power. When you know what you're spending on, you can make informed decisions. All those coffees add up!

Keep receipts and don't be afraid to take stuff back for refund. Whether you made an impulse purchase you have regretted or something has become faulty soon after purchase. It's too easy not to bother. Even if outside the usual return period (which is only for change of mind) - take it back for refund if it stops working or has other damage after a few months.

Think big - career change, retraining, even relocating kind of big. Don't be afraid to look to earn more money.

Reducing spending is all very well but it will only go so far if you don't have very much to begin with.

Buy that bloody house that was £35k (many years ago). You can afford it on your own and would be paid off by the time you're 30.

Life is a journey. Its not about getting to the destination it's about enjoying the travel and the places it takes you.

Rather than focusing on cutting back and saving, look at how you can turn things around and grow.

I downsized and cut back and cut back for quite a few years. I'm a phenomenal bargain hunter. I got in a financial self imposed rut. I'm also intelligent and capable. Something in me switched and I set up my own business. Now I don't need to penny pinch I look outwards financially rather than obsessing inwards.

Learn to cook

Thank you so much for the tips and advice, it is much appreciated! 😃