How To Save Money in 2020

How to SAVE your money in 2020!

Hi everyone I hope you are well, wherever you are in the world.

I am very aware that I haven’t blogged in a while. The true reason is because I have been very busy with work and other things within my life. I hope that is OK.

So in my blog coming back… I thought I would give my tips and advice about how to save money in 2020, as I know in the few months coming into the new year a lot of people don’t have much money if at all.

SO lets get on with it:

So my first way to save money in 2020 is too..

LOOK AT YOUR OUTGOINGS AND EXPENDITURE

What I mean by this is to have a look at all of your bank statements and highlight all of your income and expenditure to identify what is going and coming into your bank each month. BECAUSE once you know this then it will be easier because you will know about the areas that you could cut down spending money in & that money that you could potentially save could go into your SAVINGS!

My second way is too..

CREATE A BUDGET

This is a crucial way to understand and identify where your money is going each month because YOU can categorize the elements of your spending such as SHOPPING & FOOD and you can give yourself an amount that you wish to spend on that certain thing such as allocating £50 a month for clothes shopping for example. & that is the great thing about creating a budget because you are then able to manage your money more effectively so then you will have potentially more money left over to SAVE!

& So on..

SELLING OLD CLOTHING

This is a great way to gain more income so then you can ultimately SAVE more money because selling any old clothing is not only good for you financially but it is also good for the environment because you are reusing and recycling! Win win. You can sell on EBAY & DEPOP to name a couple. ( I am sorry but I don’t know any selling sites for other countries)

SET UP A STANDING ORDER FOR YOUR SAVINGS

This is also a great way of how you can save some money each month. BECAUSE the standing order acts like a direct debit for other bills. & because of that it means that you can save without even thinking about doing!

I hope this has helped!

MONEY MINDSET IS ESSENTIAL!

How to save money travelling

Planning a trip for this year but you are struggling to save money? I am going to share some of my tips for saving money for travelling. This can be different from person to person, for example, I am currently in my third year of university so budgeting to a student is very different to someone who works. These are the things that have been helping me when saving for travelling and I hope you also find them helpful!

Tip Number One: Budget

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In some cases, it can be quite difficult to budget, for example, the same amount comes out monthly for a phone bill, electric, gas etc, however, there are some aspects you can create a budget around, One of these examples is doing a food shop. As I am at university, I try to stick to a certain amount I spend on my food shop each week. Making a list is something I’d highly recommend for sticking to a budget. Making a list of all the things you need enables you to only pick up those specific items compared to picking up random things from the shelf.

An app I have been using quite a lot lately is called Airtime Rewards and this gives you cashback from all your purchases and you can use than credit off your monthly phone bill. I also have a referral code if anyone is interested in downloading it for themselves, its ‘HG7NKRYK’. We both get 50p when you join and an extra £1 each if you make a purchase within 7 days!

Tip Number Two: Limit the amount of times you eat out

I know one thing a lot of people can struggle with is eating out, I am definitely guilty of doing this every few weeks. I would recommend using a meal out as a reward for doing something as it will become a every two week thing rather than twice a week. Another thing I’d recommend is buying alternatives to the things you would go and eat out. One of my guilty pleasures is a Chinese and whenever I fancy one, I have food in my freezer and my cupboards to make something similar to what I’d order, this solves my cravings but also saves me money.

Tip Number Three: Open a separate bank account

Something I find really helpful for saving money for travelling is having a separate bank account where I add all my travel funds to. This makes it so much easier to visualize how much you are saving up and also gives you the motivation to see how much it is building up. You don’t even need to open a whole new bank account, you could easily store your savings through Paypal.

Tip Number Four: Get a Part Time Job

This tip kind of only applies to students but I’d highly recommend getting a part time job if you are looking to save money. I do an average of 10 hours a week while studying and I find that really easy and it is also a bit of money to add to my savings every month, every little helps. It all builds up and before you know it you have £500 saved up.

Tip Number Five: Sell unwanted items

This is something I do quite a lot and its also something I really enjoy doing. Do you have some unwanted clothing lying in your wardrobe that you know your never going to wear again? why not list it on a selling app and make money from something that was just in your wardrobe gathering dust. Some of the apps I’d highly recommend for selling second hand goods are DepopEbay and Vinted.

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This month alone I have actually made £150 from selling my unwanted bits and bots and clothing that was lying around my room which makes a big increase in my travel funds.

Tip Number Six: Go Shopping in charity shops

If you are someone like me that loves shopping for clothing but are also trying to save up money, I’d highly recommend shopping in charity shops. Everything is so much cheaper and you can really find some gems there. This is also a great way to experiment with your style without breaking the bank.

Those are all the tips I have used over the past few months that I have found really successful in helping me save money for travelling. Let me know in the comments if there are any more tips you think would be useful and let me know if you use any of the ones I’ve suggested!

Thank you so much for reading, please make sure to follow if you want to see more content from me,

How to save money for travelling

Planning a trip for this year but you are struggling to save money? I am going to share some of my tips for saving money for travelling. This can be different from person to person, for example, I am currently in my third year of university so budgeting to a student is very different to someone who works. These are the things that have been helping me when saving for travelling and I hope you also find them helpful!

Tip Number One: Budget

In some cases, it can be quite difficult to budget, for example, the same amount comes out monthly for a phone bill, electric, gas etc, however, there are some aspects you can create a budget around, One of these examples is doing a food shop. As I am at university, I try to stick to a certain amount I spend on my food shop each week. Making a list is something I’d highly recommend for sticking to a budget. Making a list of all the things you need enables you to only pick up those specific items compared to picking up random things from the shelf.

An app I have been using quite a lot lately is called Airtime Rewards and this gives you cashback from all your purchases and you can use than credit off your monthly phone bill. I also have a referral code if anyone is interested in downloading it for themselves, its ‘HG7NKRYK’. We both get 50p when you join and an extra £1 each if you make a purchase within 7 days!

Tip Number Two: Limit the amount of times you eat out

I know one thing a lot of people can struggle with is eating out, I am definitely guilty of doing this every few weeks. I would recommend using a meal out as a reward for doing something as it will become a every two week thing rather than twice a week. Another thing I’d recommend is buying alternatives to the things you would go and eat out. One of my guilty pleasures is a Chinese and whenever I fancy one, I have food in my freezer and my cupboards to make something similar to what I’d order, this solves my cravings but also saves me money.

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Tip Number Three: Open a separate bank account

Something I find really helpful for saving money for travelling is having a separate bank account where I add all my travel funds to. This makes it so much easier to visualize how much you are saving up and also gives you the motivation to see how much it is building up. You don’t even need to open a whole new bank account, you could easily store your savings through Paypal.

Tip Number Four: Get a Part Time Job

This tip kind of only applies to students but I’d highly recommend getting a part time job if you are looking to save money. I do an average of 10 hours a week while studying and I find that really easy and it is also a bit of money to add to my savings every month, every little helps. It all builds up and before you know it you have £500 saved up.

Tip Number Five: Sell unwanted items

This is something I do quite a lot and its also something I really enjoy doing. Do you have some unwanted clothing lying in your wardrobe that you know your never going to wear again? why not list it on a selling app and make money from something that was just in your wardrobe gathering dust. Some of the apps I’d highly recommend for selling second hand goods are DepopEbay and Vinted.

This month alone I have actually made £150 from selling my unwanted bits and bots and clothing that was lying around my room which makes a big increase in my travel funds.

Tip Number Six: Go Shopping in charity shops

If you are someone like me that loves shopping for clothing but are also trying to save up money, I’d highly recommend shopping in charity shops. Everything is so much cheaper and you can really find some gems there. This is also a great way to experiment with your style without breaking the bank.

Those are all the tips I have used over the past few months that I have found really successful in helping me save money for travelling. Let me know in the comments if there are any more tips you think would be useful and let me know if you use any of the ones I’ve suggested!

Thank you so much for reading, please make sure to follow if you want to see more content from me,

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