In the world of FOMO, YOLO and the temptation of Uber Eats, ASOS and Amazon prime only a click away... we get it saving can be challenging. Now we know this sounds like a first world problem and our parents say "saving is easy just spend less than you earn', but this is way harder than said. Many women who are joining our online Facebook Group keep saying, their biggest money issue is that they can't save.... so we have listened and have gone out to some of our fave money saving ladies in the business to find out what are their best tips.
It's time to get money savvy ladies!
Kick-ass money blogger Faith Archer from Much More With Less believes we need to treat saving like a bill.
1. Set up a direct debit straight after payday into a separate account. If you wait till the end of the month to see what's left, it might be very little!
2. Wary about setting aside a fixed amount? Try an automatic savings app like Chip or Plum. which works out how much you can afford to save, and transfers small amounts every few days.
3. Interest rates may be rubbish right now, but I still like pocketing as much as possible. You can earn 5% for a year on up to £2,500 in a Nationwide FlexDirect current account, or opt for the super simple online savings account at Marcus by Goldman Sachs, which pays 1.5% a year.
Faith also hits the nail on the head with some super important advice on cutting spending.
1. Go on an unsubscribe spree. Clear your inbox of marketing emails, and you'll be much less tempted to splurge. There will always be another offer or sale. Try apps such as Unroll.me and Un-list to make unsubscribing easier.
2. Focus on food, as one of your biggest bills. Switch to a cheaper supermarket, try own brand or value ranges, plan meals and pack your own lunch. You can cook fab meals at home for far less than the cost of takeaways or eating out. [If needed, I have a post with 80+ ways to cut the cost of food shopping: https://www.muchmorewithless.co.uk/save-money-on-food-shopping/ ]
3. Never pay full price. If you're shopping online, use a price comparison site like Idealo or Price Spy to find a good deal, search for discount sites, and see if you could earn more instead from a cashback website such as TopCashback or Quidco. Same with utility bills and insurance - each year, check if you could pay less by switching elsewhere, or ring your existing supplier to ask if they could slash your renewal quote. If you're willing to buy second hand, I save money and try to save the planet by snapping up bargains from charity shops, Facebook selling sites and Gumtree.
Keep up to date with Faith on Twitter
Fierce budgeter Natacha Blackman has a few more speedy, simple tips on how to stop spending those pounds (and pennies!).
1. Set a daily food budget and try to beat it every single day (even £2 a day adds up!)
2. Always, always shop around (and especially online - look for cashback offers or voucher codes)
3. Cut unused subscriptions (app-based or things like gym memberships).
Check out Natacha's Insta for some fabulous content and money advice!
Kara, our lovely lady expert from the Flawed Consumer thinks changing buying habits will help you make super savings!
1. Reusable/washable pads and menstrual cups - save a hell of a lot on disposable sanitary items over time, as well as waste.
2. Basic mechanical maintenance - servicing your own lawn mower, or changing the globes or wiper blades on your car can save you a tonne! There's plenty of YouTube videos available that make these tasks easy as, even for novices.
3. Bulk shampoo and conditioner - if you use salon quality shampoo and conditioner, you can source bulk bottles (e.g. 5 litres) designed for salons from eBay for about the price of 1 litre if bought retail. I've saved
over $300 so far by buying my shampoo and conditioner in bulk.
Head to Kara's website or twitter for more tips and tricks to keep money savvy!
Last, but most definitely not least is lovely Vicki Owen from Money lens who thinks mindful spending and changing your habits may be the trick to growing your savings.
1.“Money-saving doesn’t mean denying yourself things entirely - it’s just about spending more mindfully. For example, it might be that you go for cheaper ‘fast fashion’ rather than pricier clothes. But spending a bit more on quality at the start can pay off if that pair of jeans lasts four times longer – and you’ll probably love them more. “I convinced myself that as I don’t spend much on clothes I was doing fine. But when I looked at it properly – when I wrote it all down - I realised I was kidding myself. Now as a committed money saver I spend more time thinking about what I need and value. It means I’m far less likely to be a an ‘emotional shopper’. Buying things like a pair of earrings or another similarly ‘small’ item to cheer yourself up on a bad day is no good for your bank balance and probably not for your wardrobe. These days I have more of a plan, and I’m specific about the purchases I’m aiming for.”
Visit Vicki's website or twitter for some jargon-free, fierce financial content!
So, now you've heard from us.. we want to hear from you! If you have any money saving tips that we haven't touched on, we would LOVE to hear them!
Drop us a message us on Instagram or Facebook, with some new tips - and dont forget to let us know how you get on!
But most importantly.... GET SAVING! You've got this ladies.
x x x