As some of you may know from twitter, I work nights in a nightclub. I work 14 hours a week which isn't a lot so I recently got a day job in a coffee shop that gives me between 24-35 hours a week, along with the 14 hours I have already. With the extra money coming into my bank account I've been spending a bit too much of it without any thought or care and this is a problem. I'm meant to be saving up for driving lessons, a car, insurance, rent for next year, college etc. and I'm just spending it on clothes and make up that I could manage without. So, to stop myself from overspending I've created a plan to stick to that will ensure I save money and only buy what's necessary. Here are my tips and advice that I use myself, hopefully they'll help you too!
Savings Account
If your bank gives you the option of putting money straight into a savings account every week/month, do it. Set up a savings account and put away money each week or month. This is such an easy way to save money and if you need it badly, you can always just transfer it back into your main bank account, I currently have 20 euro going into my savings each week, it's not a lot but it will all add up when I need it. If you don't want to set up a savings account you could just as easily put it in a safety box or piggy bank but I find that having a savings account ensures that the money will go into it each week and to be honest I don't even miss it.
Credit Union
I don't know if Britain has a Credit Union but they may have something similar. Basically it's just a place you put your money in to save it, they give loans too and have a lot of different saving options to suit you. Your savings are kept track in a small booklet and it's not as easy to take it back out like a bank is so you're less inclined to take out money from the credit union unless you badly need it. I put 5-10 euro away each week and since I never take anything out it all adds up after a year or so of constantly putting money in. They also have a separate Christmas savings plan that you start in January and come December you get all that money back with added interest just in time for Christmas shopping. It's a great way to save money.
Watch what you Spend
When you're in a store looking at all these pretty clothes and shoes etc. it's so easy to just pick something up and buy it, and that's fine for one or two things but if you do that each week or every time you go into a store then you need to just stop and actually look at what you're buying, do you really need to spend so much on clothes/shoes/make up each week? Try to plan your spending instead, go shopping once a month and buy what you need, a new winter coat, some jumpers, new shoes etc. Get what you need but only do it once a month, you're more inclined to just buy what you need then.
Buy Staple Pieces
I know it's hard to stick to staple pieces when you just want to get the hottest new trends but if you want to get the best out of your money then buying staple pieces will really help. You can still be on trend and stylish, that's what staple pieces are all about. My favourite ones include a good leather jacket, a black blazer, a little black dress, a great pair of jeans, black heeled ankle boots, a white shirt, a black tote bag, a camel coloured coat, and a great pair of ballet flats. These are my staple pieces that just never really go out of style so you can wear them over and over again with updated pieces too.
Save Your Coins
I've gotten into the habit of putting my coins into a money box every time I come home. I'll just empty my purse of all the coins, big and small, and just put them into my money box. I've only started doing this but after a while it will add up. I'm lucky enough to get tips from both of my jobs and any money I get from tips goes straight into my money box, I think it's such a good idea. I know if you live in Dublin you need coins on you if you get the buses but if you don't need to carry coins then just chuck them into a money box or even just put the smaller change into a money box and keep the 1 and 2 euro/pound coins.
These are my simplest ways of saving your money. Obviously they won't work for everyone but hopefully they'll work for most people and help you save up and spend your money smartly.
Katie
x
