Now it’s that time of year where now everyone is broke and money starts to become an issue for many people.
We start to overlook our forthcoming year and figure what needs to be spent and when.  My boyfriend and I have booked a holiday for June, and I have been saving for my car over some time, so I’m feeling pretty light in my bank account!  I know so many people who really struggle to keep money and not save it, so here is what I’ve been doing.
1. Your bank account
So to start with to save I will always set up a bank account which suits what I will be saving for.  When I started saving for my car, I opened a Santander account which has 3% interest on savings from £300+.  Now numbers and percentages are all very confusing but this means we can earn extra cash by basically having money in the bank.  This is great for big lumps of money too as the bigger the stash the larger the money back you will get.
Another account I have with Yorkshire Bank is a Fixed Cash Isa, I put money into this account as an emergency lump as there would be no way I could take the money out unless I wanted to pay a fee to take it out, which in my eyes isn’t worth the hassle.
I’m not here to sell the bank accounts it’s just an idea of what to consider for when you are saving!
 
2. Jobs and wages
When you get a job at whatever age that may be I got my first job at 14, you will hopefully be getting some cash for the work you do, now its so easy at the start of a job to say ‘I’m going shopping!’ And the. To have nothing left, I got into the idea of splitting my wage in half keeping half for me to spend on anything and the other half to go into my stash to grow.
This is probably one of my biggest tips I think I will forever live by this rule as its just worked so well for me – and hopefully you guys!
It’s good to be tight!  My mum’s side of the family are the tightest bunch with their money it must be a gene!  But my dad always says you can’t take money to the grave which I understand completely it’s all about balancing what you want (or need) to save for.
 
3. Managing on-line banking
On-line banking is one of my best friends, I’m forever checking on my balances and  transferring money between accounts, if you bank allows on-line banking, just go have a look cause I find it so helpful and easy to organise especially cause I live a while away from my branch.
 
4. The good old money bank
It’s be massively under rated the old piggy bank and even now I still use them, you could argue I am way to OCD about this actually!  I have one jar for my coppers and small silvers, and another jar for my £2, £1, and 50p’s.  I don’t know why I’m just weird, it’s probably because this one grows more quickly because of the larger coin value.
 
5. Set goals!
So when I started saving for my car I used to get about £20-30 a week.  So I worked out how much annually (×52) and then work out how much I’d spend and save out of that pile, so around half and half then I’d work to that figure In my head to earn say £500 throughout the year to put away and save, this is a lot better when you have a larger wage so more can be saved.
A lot of the time when I’d keep money for myself I wouldn’t end up spending it so I’d just put it with my savings instead.  Remember to keep some for yourself though or else you’ll get bored because your wage is your treat, you earnt it!
What do you do to save?
Sian x

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