From keeping a money jar to remembering your end goal, Nicola Byrne gives us her top tips to help you save money over the summer.
We all know how difficult it can be to save money. Especially now that it’s summer time. The next festival is always just around the corner and your wardrobe could really do with a new style.
What people don’t realise is that you can have a great summer treating yourself as well as saving money. It’s all about having the right balance.
There is no point in trying to put away every cent you get into savings. Give yourself a break. Saving can be a slow process.
Next time you want to go out with your friends but feel guilty for spending, just remember you can make up for it by saving a bit more the next week.
You don’t have to save the same amount every week. Don’t strain yourself.
Don’t let saving come over everything else. Money can seriously stress you out and worrying about that two euro you just spent in McDonalds that you could have saved isn’t doing you any favours.
Try to have a plan. If you have a well thought out plan this will make the balance between saving and spending become a lot easier to manage.
If you plan on going somewhere for the day, have an idea of how much you would be happy with spending. For example, if you are going shopping then it is a good idea to only bring the amount you are happy to spend. You can’t overspend if you only have €20 on you.
You may be annoyed when you can’t get that new jacket you really love, but when you come home and still have that other €20 saved away you’ll be a lot happier.
If you have a job and an income coming in regularly, then decide how much you are comfortable with saving and what that money needs to go towards.
You must also take into account how you are going to save that money?
Some people might be better putting it into an account each week. But if you are like me and are dangerous with a bank card then try find a way that suits you.
Maybe a money jar that you have to physically break is the way to go. You would be surprised by how much you can save by using money jars.
A big part of saving is the end goal. The whole reason you are saving. If you forget about that end goal then saving is going to become a lot harder.
Having a reminder of why you are saving always helps. If you want to go on a holiday, then put a picture of your destination by your bed. If you want that River Island bag then keep a picture of it on your phone.
Every time you save money you’ll be one step closer to your end goal.
It can generally feel great when your savings start to add up. So if that €30 you have saved up now makes you wonder is there even any point, there is.
We are all in the same boat and none of us are perfect. Enjoy your summer, have a blast and if you save a little bit each week, you’re doing great.