How do I save money??!!

[ReginaaPhalange]

As the title suggests, I'm mid 30s with zero savings of my own. My DH has some savings which if either of us needed access to merge ch funds, we would be ok for a small amount.

I want to start saving my own money! We have a joint account where bills and salaries are paid and each month we take a fixed sum each and transfer it into our accounts. DH earns considerably more than me but takes the same amount of fixed money as me each month.

He can save. I can't! I buy clothes and make up just for the sake of it cause the money is there!

What are your best tried and tested ways to save? I have started the "round up" option on my bank so it rounds up my transaction to the nearest pound and puts that into a separate pot.

I want savings cause we are TTC and I want to save for maternity leave etc

It sounds like you've made a good start. I started using the round up on my bank account and once I saw the savings building from that it just made me want to add to it and keep it building. We have never had savings and always lived pay to pay. I now have a comfortable £1000 in savings and am still growing it. I now don't want to let it drop below that, as it is nice having a little safety buffer. Would like to get it up to at least a months wages at some point.

@LadyDanburysHat I won't lie I am initially saving to treat myself to a mulberry handbag but I know once the savings goes back to £0 I'll want to save again. I'm thinking I might go £500 over my goal before I buy the bag, that way I'm not obliterating the full savings pot

Try and initially save double the cost of mulberry bag before you buy it so savings is not down to zero after your no buy month try another month, I am doing a low buy year, I'm aiming for just 12 things it doesn't include replacements like tights or toiletries but am only allowing myself one spare ie the toothpaste, shampoo, moisturiser I'm using and one spare, so far I have bought a new mobile ( my last one died after 5 years) a new white shirt, and Egyptian cotton bedsheets and new bra, I'm looking for smart summer sandals that are as comfy as walking sandals as have dodgy ankles and need decent support. Impulse shopping is out, if you find online but in basket for 3 days minimum before buying 7 days would be better.

planner

Use this budget planner to plan your expenditure. Use it to put aside money for less regular expenditures, holidays, Christmas etc. If you know how and when your money is being spent, then it’s easier to save.

I would also add with the mulberry bag, don’t forget places like Bicester village. I have several and have never paid full price. Go early. I would also echo not running savings to zero. It feels harder somehow to build back from nothing.

Well a change of plan! No longer saving up for a mulberry handbag seeing as I got a bfp yesterday!!!!

Time to up the savings!!

Congratulations. I'm sure this will help your wish to save.

What lovely news! A baby beats a mulberry bag any day x

Thank you :) xx

Congratulations on your baby news!

Before I got pregnant we worked out how much we needed to save to supplement my mat pay - I think I was entitled to 4 months half pay before moving to statutory, and I wanted to take a year. Minus commuting costs & with DH picking up more bills - I think we landed on £12k as a reasonable figure to save. We bought baby bundles on ebay & used birthday vouchers towards the pram. It's very easy to think you need every bit of kit & feel prepared, but baby bouncers, gadgets are only useful for a few months, so don't always be tempted to buy new! The same with maternity clothes.

I then drew up a budget to see us through the nursery years - our childcare is approx £1200 a month for 4 days per week, it's expensive, but for a limited period it's doable.

Congratulations! That is wonderful!