Saving money is probably the hardest thing to do. Especially when you're young. And especially when everything is so damn expensive. Not to worry. Mastering the art of saving money can actually be pretty simple with these 5 hacks I've learned on my journey from perpetual broke person to person who is still kind of broke but not as broke.
1) Put away the same amount of money every week/month.
This is so simple, you'll be annoyed you didn't think of it beforehand. Say you know that you get £100 a week from allowance, a part time job, or whatever. Putting away £30 of that each week means that, by the end of the month, you're looking at £120 that you didn't even have to think about. You can set up a situation where your bank automatically transfers that money from your current account to your savings account on a weekly or monthly basis. Or you can just do it yourself with cash and a coffee canister. The important thing is that you do it every week/month and it's a consistent amount.
2) Leave your debit card at home, ya'll.
If you're anything like me, you definitely believe that cash is an unfortunate hell we must subject ourselves to. Contrary that strongly held belief, debit is the root of all evil, at least when it comes to saving up those dolla dolla bills. You know what it's like. You leave the house in the morning, grab a £4 cup of coffee, spend £10 on the train, spend another £15 before you even reach your destination and continue on like that, charging things to your debit without thinking about the fact that it's your actual real money. One way to kick this habit is to leave your debit card at home and manage enough cash you know will last you the day.
I'm not suggesting you do this when your plans are kind of up in the air/could change at any point. Only do this if you basically know you're going to one destination and back. You'll be surprised at how much if forces you to think about what you're buying and if you really need it because there is nothing worse than running out of cash.
3) Keep a change jar
This is so cliche but start a change jar. Come home and empty your pockets into some sort of collection apparatus and you'll be surprised at how handy it becomes. Contrary to popular belief, currency is still currency no matter how small the increment. Telling yourself that the money in the jar is for gig tickets or travel to an event or supplies for a festival will motivate you to fill up your jar with coins and notes and actually be excited about it. Best part is that the effort is minimal. Come home, empty your pockets, and forget about it.
4) Write down your most costly non-essential purchases for the month and figure out a way to cut that in half.
Say you spend £50 a week on lunch. Just cut that in half. Seriously. It's simple. Bring lunch a few days a week. Say you're spending £100 on alcohol at bars and restaurants each week. Buy a bottle of wine and stay home. Your wallet will thank you later.
5) Better set your goals, kid.
What are you saving for? How much do you need? It's scientifically proven that people who set goals are more successful than people who don't. So set your goals before you even think of how you're going to get/save the money. Trust me, it will help big time. I realize that concert tickets might come up unexpectedly (*ahem* BEY), but that's why it's good to have a very healthy concert/event fund, isn't it?