Let’s be real for a second: saving money can sometimes feel like an impossible mission. You know you should do it. Yet, the latest sneaker drop keeps tempting you. Your favourite coffee shop’s new seasonal drink also entices you. Plus, that surprise weekend trip you definitely deserve just calls you to spend. With planning, you can start saving. A lot of self-discipline will also help you avoid feeling like you’re living on instant noodles every day. Here’s the good news: it’s totally possible to save and still enjoy life.
1. Create a Budget and Stick to It
Okay, I know the word ‘budget’ probably made you cringe a little. It sounds like something you’d only do if you were trying to impress your accountant. But creating a budget doesn’t mean giving up your favourite things. It’s more like having a map for your money so you can get to your goals without getting lost.
Pro Tips:
– Use apps like YNAB, Snoop, or Emma if spreadsheets aren’t your thing.
– Set monthly caps for things like food delivery or fashion splurges.
– Review your budget weekly to stay aligned with your goals.
2. Automate Your Savings
We’re all busy. Between work, Netflix, and pretending to go to the gym—manually moving money into savings every month is just unrealistic.
Why It Works:
– Your money gets saved before you see it—no temptation.
– It’s ‘set and forget’—savings grow in the background.
Action Steps:
– Set up an automatic transfer the day after payday.
– Use banks like Monzo, Starling, or Revolut.
– Allow ‘save the change’ features.
3. Cut Back on Unnecessary Expenses
It’s not about cutting everything—it’s about trimming the waste.
Ideas for Cutting Back:
– Brew your coffee at home.
– Meal prep your lunches and dinners.
– Cancel unused subscriptions.
Try apps like Truebill, Subby, or Emma to manage recurring expenses.
4. Build an Emergency Fund
An emergency fund is your safety net. Car breaks down? Lost your job? It’s there. No panic.
How to Build One:
– Start with a goal of £500, then grow to 3–6 months of expenses.
– Keep it in a separate savings account.
– Use high-interest accounts like Chip or Marcus.
5. Take Advantage of Your Pension
Retirement feel light-years away, but your future self will love you for starting early.
Why You Should Care:
– Contributions are pre-tax.
– Employer matches = instant raise.
– Compound interest helps your money grow exponentially.
What is compound interest? It’s interest on your interest. Your money earns money—and then that money earns more.
Conclusion
Saving money doesn’t mean cutting out every little pleasure. A smart, balanced approach lets you enjoy life today while still preparing for tomorrow.
tip: Use tools, plan ahead, and give your money a purpose. Saving should feel empowering—not restrictive.
If you’re guilty of constantly buying those £5 lattes every morning, think twice. If you’re buying those shoes you ‘absolutely’ needed, think twice. Where else could that money go?