What’s the best money habit you’ve picked up? £200 voucher to be won

[geemumsnet]

When it comes to managing money, sometimes it’s the small habits that can make the biggest difference over time.

Perhaps you’ve discovered a budgeting app that keeps you on track, picked up a great money-saving tip from a friend, started investing little and often for your long-term goals, tried a savings challenge, or found new ways to enjoy days out and activities without spending a fortune.

Whatever works for you, we’d love to hear about the money habits you’ve picked up along the way.

So tell us, what’s the best money habit you’ve ever picked up?

• How did you get into the habit?
• Has it made a noticeable difference to your finances?
• What did you do with any extra money you made?
• And is there something you wish you’d started doing years ago?

Share your experiences, tips or money habits with other Mumsnet users in the thread below. In return, one poster will be selected randomly by the Mumsnet team to win a £200 VEX voucher.

The lucky winner will be contacted by Mumsnet by Friday 6th November. T&Cs apply.

Comments are the views of contributors, do not represent AJ Bell's views and should not be relied upon as financial advice.

My bank debit card has a cash back facility if you use it with certain highlighted companies (which change frequently). I only ever use it for things I was going to buy anyway, but it all adds up.

I went on a CAP money management course and learnt to use cash rather than card. I have been giving myself weekly pocket money in cash ever since and have paid off debts, moved house and can afford a bigger mortgage. I wish I had separated bills and spends years ago into two separate accounts because it is too easy to dip into bill money.

Pay into your pension and invest in your stocks an share isa

Use some savings to buy premium bonds. I feel it's a risk free savings pot with a chance of winning some extra cash. Last month I won £250 which is more than the interest I would have got in a regular savings account. Fun too!

Make sure you don’t neglect pension provision. It’s amazing how quickly your working life is over and nothing has given me more peace than knowing I can leave work if it’s tough or just retire while young enough to enjoy it . If you think you can’t afford to save when you’re working how will you afford to live when you’re not . Start young and it will add up .

A friend told me that you could re-name your bank accounts when you log into online banking. So in my Barclays account where I have several savings accounts at the highest interest rates on offer, I’ve renamed them to relate to my savings goals. Eg one is called Disneyland 2027, another is called Kids Uni Fund.

Seeing them called that somehow motivates me to siphon off more spare cash to fill them up, even though it takes longer than I would like.

Using a cashback site to buy vuchers for supermarket shops and getting money back. It adds up.

Setting up a child’s stocks and shares ISA for my kids when they were babies.

I set up a direct debit into it each month so I didn’t really notice the money going out of my account. Plus added in some birthday and Xmas money if they weren’t sure what to spend it on.

the Isas have done really well - huge increase in value so far. Each isa worth £20K by age 18!

Try to get into a position where this month’s wages are for next month’s bills, even if you have to work Vinted, Marketplace and a few boot sales to get to that position.
Move all your October income into a ‘holding account’ and pay it into the household account on 1 November.
It makes a world of difference to your budgeting and to your stress levels.

When I lost my job and husband went part time we needed to cut costs. We changed habits to using most electricity overnight when it is cheaper. We shower at or after 11.30 before bed, we run the washing machine and the dishwasher at night, we try not use the tumble dryer too much, we have a plastic roof over the deck, so can hang washing outside even if its raining. We charge the car, phones overnight. Using my totum card for student discount and my access card for my husband to get free carers entry to places does help but obviously you need to be disabled and a student to use those. We have started going to different shops rather than buying everything at one to find the best deals. Farm shops may be a little bit more expensive but you can just buy what you need to so not wasting so much. Not buying food out helps, on days out take your own sandwiches. Picnics in parks rather the going to expensive attractions.

To reduce impulse buys, I have a rule that non essentials must sit in my online shopping basket for at least a full day. If I still want it, I consider adding it to a wish list for when it's my birthday or Xmas. If it's books, I'll have a look to see if it's in my library or Libby/BorrowBox. I spend time looking for discounts. Most of the time, the urge to buy passes and I delete the item.

Vinted has helped me a lot. Decluttering and posting unwanted items has brought in much needed money.

No impulse buys.

We have an agreed set of things we spend money on and we both ask each other before buying anything else.

My best money habit is simply making my money work harder wherever I can. I always check prices before buying anything and, if something I regularly use is on offer, I’ll bulk buy rather than paying full price later.
I also discovered a budgeting app which has helped me keep a much closer eye on where my money goes. Another habit I’ve picked up is keeping an eye on bank-switching offers. I switched to Nationwide when they had a £175 switching incentive, which was a nice bonus for doing something I’d been meaning to do anyway.
The extra money has gone towards everyday expenses and treats, rather than disappearing into the bank account unnoticed!
I wish I’d started checking prices and making the most of switching offers years ago. Those little savings really do add up over time.

I always look for discount codes on sites like vouchercodes and I tend to check cashback sites to see if any cashback is offered on any of my purchases. It's allowed me to save thousands over the years. My sister in law was the one to draw my attention to it several years ago and I've found both to be extremely useful tools when shopping.

Learning that little and often makes a sustainable habit. Taking a few moments to either look for a better deal, or setting up an autopay of £50-100 a month into a savings or investment account has really stacked up. The earlier you start, the bigger impact it has as the interest does the work, so I do wish I could have started a bit earlier myself. Also once you’ve got a bit of a nest egg, it’s easier to want to keep it (and harder to justify spending it).

I also think keep it simple - just try and understand one part of your finances and make one change this month is manageable rather than getting overwhelmed with all the choice and options, and sticking to simple, cost-efficient trackers rather than trying to get too complicated.

I always check cash back sites before making any kind of purchase, and as an NHS staff member I check whether I can get discounts from health service discounts / blue light. I am becoming much more savvy around managing my family finances, I use a budget tracker for day to day expenses and ensure I am budgeting against true expenses for things like car insurance, Christmas, household repairs that are reasonably predictable.

My savings come out of my account at the beginning of every month when I have been paid – direct into a higher interest account. If I’m really short at the end of the month, I might need to borrow some back but I find that better than waiting until I see how much I have left. As that savings account builds up a bit I then transfer some into my ISA. Also taking pack lunches to work, some of my colleagues are regularly spending between £5 and £7 a day on lunches.

Look around charity shops when you are out and about, look for designer and BNWT items, I have had Boden, Karen Millen and Armani dresses which I have sold on Vinted for some much needed extra cash (the charity shop also makes a sale)

I went through a very bad patch financially after my divorce and ended up on Universal Credit for the first time in my life. Being on UC entitles you to open a Help To Save account, which is something I had never heard of before. The idea is that you can save up to £50 a month into that account, and at the end of two years the government will credit it with 50% of the highest amount you've ever had in it, so if you save the maximum and don't withdraw at all, you can potentially be given £600 to add to the £1200 you've saved. If you continue to save the maximum for another two years, you then get another £600, at which point the account matures. You can withdraw at any time, but obviously the incentive not to is very great. You don't have to still be on UC to continue (I'm not).

It's taught me to regard savings as a necessary outgoing every month, and that prioritising savings is a choice and not something only some people can do. I've been very, very close to the breadline some months but have always made the monthly payment because the consequences of not doing so were so clear. Obviously if I were literally street homeless, I couldn't prioritise in that way, but I've genuinely had a really difficult time and, so far, still done it. Knowing that, it's encouraged me to work backwards from the sums of money needed to do what I want to do in the future, in order to work out the amount of money I need to save monthly to ensure my plans are plans and not just pipe dreams, knowing that I have the discipline to follow through now. Before, everything just seemed hopeless, and beyond my reach - for other people, not me. My ex was financially abusive and I lost everything and left with nothing, but now I have a 10-year plan that will get me to where I need to be, and will have been all my own work, with a little bit (£1200) of help from the DWP.

We constantly hear about how much is broken in the benefits system, but the Help To Save scheme has literally helped me rebuild my life.

I always wait at least a day before ordering online. I usually decide not to buy. It's an impulsive want usually and has saved me a fortune.
I wear vests in winter - no bulk but keeps me warm

Setting up a stocks and shares ISA and an automatic payment into it on the first of every month after payday. I don’t see the money so I don’t miss it. Even a small regular amount has built up very quickly with good average returns.

Educate yourself, read articles, forums, talk to others. Knowledge is power and helps shape decision making

I have always been awful at saving but since downloading the Plum app I now have a few saving pots. I don’t even need to think about it the money just automatically gets taken from my account.

I have a separate account that I pay myself £200 a week into. This is for non-essentials only. Have really noticed so much money leftover in my main account now at the end of each month which goes into savings or towards holiday