Save Your Money
We all keep reading the same ways on how to save money. Yes, setting up a savings account, even putting your money in a jar could be some of the best, most popular ways to save. But, we would rather you have the opportunity to begin saving in different ways, ways which might suit you better which you didn’t think of.
Delete Apply Pay / Contactless Pay through your phone –
If you’re anything like us here at Hathaway’s Personal Pound, Apple Pay is a weakness when it comes down to those small, silly purchases. Apple pay allows us to easily make a payment with a quick click and tap. Whether it is from food all the way to transport, it helps us spend money which we don’t necessarily need too. Deleting your card details from the device will save you more than you think. You are more likely to forget your credit or debit card than your phone, so this is why it is better if you don’t have it. But, in an emergency, it is easy to redownload.
Sleep on it –
This is a common tip that people recommend but it isn’t very well known. If you really want something, sleep on it for a night or two. You may find it doesn’t seem as attractive the next day or you don’t want it as much as you did the day before. On the other hand, you might decide you want it even more than you did the previous day. But, this method will help you understand what you do and don’t need.
Plan your meals –
Maybe you’re one of those people who never does any preparation of food for the family and ends up either a, buying a takeaway or b, going to the shop nearly every day. I’m sure you are aware of how much extra money you are spending in times like this. One of our favourite recommendations is to say plan your meals. By doing this, you can make a visual list of exactly what you are going to eat along with when and how much it will cost. This means you are more aware of your spending, but it also means you know what you are eating so you don’t need to go to the shop more than once a week.
No ‘Spend Day’ Challenge –
Once or twice a week have a day where you spend nothing other than budgeted-for things. Quite often just spending once can break the cycle for the rest of the day. This isn’t as hard as it sounds, it also fits hand in hand with the previous tip. Whether you are at work or staying at home, a no-spend day could be perfect. If you go to work, pick up a morning coffee and then your lunch from the nearby shop, you could be spending around £8 a day, which is £8 more than you need to be. Why not try bringing in things from home to drink and eat? Yes, you might say it still costs to make it, but it only costs a fraction of the price.
Stop with the emotional spending –
Stressed? Spend. Sad? Spend. Happy? Spend. Today’s society has got into the swing that we need to constantly spend due to our emotion when realistically you don’t need them new shoes or to go for that big fancy meal. You might feel like you should treat yourself, but if you do that, you need to ensure that your bank account agrees with your choice too.
If you are ever faced with unexpected bills or you need an emergency cash fix, why not consider a personal loan? Personal loans are the perfect answer when you don’t have enough/any savings to fall back on. Although, we do suggest that savings are one of the most important things and loans should only be a second resort if you have no other choice.
Read our spending in cash blog here.