If you’re always broke despite working hard and you feel like you’ll never get on the property ladder, clearly something is going wrong when it comes to your spending. Here are some top saving tips that could turn it all around for you
- Implement the 7 Day rule – I know this may seem hard but if you want results, it has to be done. Whenever you see something you want to buy like those killer heels or even just a haul of cheap items from Penneys, wait 30 days until you purchase the item. You may find when a week has passed, you don’t want the item anymore as the impulse buying urge has passed.
- When shopping, ask yourself do I need this or just want it? What do I want more? Clothes or to own my own home?
- Set up a direct debit into a savings account you can’t touch – set it up so the money leaves your account on payday. You can’t spend what you don’t have access to
- Cut up your credit card – there are no two ways about this or if you MUST have a credit card for travel etc, leave it in the freezer. You’ll need to thaw it out before you can make a purchase
- Cancel subscriptions you don’t need – like magazines and the gym you’ve been to once, Unsubscribe, unsubscribe, unsubscribe
- Close your online shopping accounts – it’s too easy to spend a lot of money on the way into work when you’ve already registered for these online stores
- Stop tap-dancing all around town – instead of tapping your debit card for every purchase, start using cash again. Withdraw €100 on a Monday and see how long it lasts you. We don’t keep track of our spending when we tap our card all day
- Skip the office coffee run – we’re not joking here when we say this could be costing you over €1,500 a year
- Set a spending limit on gifts for family birthdays – opt for one that everyone agrees on
- Pick one day every week where you don’t spend a cent and then when you get into the habit, increase this to 2 days a week without any spending