Financial Help

Sunday 8 March 2020

HOW TO MINIMISE SPENDING & SAVE MORE EFFECTIVELY


I'm very new to saving money and spending less. If you've been following my journey on Instagram or blog you'll already know that I'm not shy when it comes to spending money. In fact, I spend more than I earn - or at least I used to.
I kept a spending diary for a year which made me realise that I was spending way too much on things that I did not need. Did I need an extra coat this season? No. Did I buy one? Yes, I did.
After carefully calculating how much money I spend on unnecessary items I have decided that enough is enough and that I will minimise my spending to only things that I actually need.

As I work in the beauty industry I do get a fair amount of discount across many brands (most which I use). Occasionally, I receive free items from the brand that I work for as well as PR packages from some of my favourite brands. This puts me at an advantage to minimise my spending as I have heaps and heaps of makeup and skincare products laying around my house! So far, I haven't spent any money on makeup or skincare this year so I'm going strong 💪🏻

So far I have spent around £100 on necessities such as new tights, work uniform, toiletries etc. I have a holiday coming up and I have been very tempted to order new clothes specifically for the holiday - but why do I feel like I need a whole new wardrobe for a few days away? Instead, I have listed a lot of my old clothes that I haven't worn in a while online and whatever money I get from selling them I will allow myself to buy something new. My only rule is that if I really really want something, then I will treat myself to it as I do believe that we should award ourselves with nice things for working hard.

These are some of the things that I have done and that you can do to help you get better with money:
-> Open a savings account
-> Create a 'Save the Change' account
-> Declutter monthly - try and sell unwanted items
-> Cancel memberships you don't use/need
-> Recycle your old outfits
-> Use recycling programs to get free products - e.g. Back to Mac or Origins Recycling Program
-> Get insurance from Compare the Market to receive 2 for 1 cinema ticket and meal offers
-> Stock up on products you need when there are offers


I'm still learning how to become the best version of myself and to save up effectively. I want to have a constantly growing income, so I've started reading The Richest Man in Babylon. It's quite hard to read but the lessons it will teach you are very important.

Another thing I have started doing is buying multipacks of drinks, chocolate bars and crisps and keeping them in my locker at work. I don't always bring a packed lunch with me so this is a great way of trying not to overspend in shops when I'm hungry. On average I would spend around £5 on my lunch if I didn't bring one with me but now that I have snacks in my locker I will only spend £1.50 on a sandwich from the nearest supermarket. Still, the best option would be to make a packed lunch every day (it's best to use slow energy releasing carbohydrates as then you'll remain fuller for longer, but that's a lesson for another day haha 😂).

I hope you've enjoyed reading this post. Let me know in the comments section if there's anything you can relate to from this post 🥰
Do you have any tips on how to save money? Comment them down below for others to see! 

Lots of love,
Maya xo
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