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Dec 3 22
Talking about funds/money. How does everyone save each month? I brought a house this year so my savings took a hit, and I’ve been struggling to re build. I’ve cut out unnecessary items in life but I’m only saving £50/£100 monthly, and I feel like I can’t save money. Any tips?
Dec 3 22
It’s hard to say if that’s reasonable without knowing your disposable income/outgoings. Do you already have separate bank accounts for bills, savings and spending money?
Dec 3 22
As above user said, we would need to know your monthly income. Saving is really about being disciplined and not spending money for the sake of it. I was working full time since March this year earning roughly £1,400 a month. I put £500 in my savings £200 was for bills etc (I still live at home so I pay £80 rent) and the rest was for travel, essentials and kind of emergency money. I’m now working part time earning roughly £900 a month so I save £200 every month into my savings. I could definitely put more in my savings so usually a week before pay day if I have like £400 just sitting in my account, I usually transfer half into my savings so that adds up to more as I know I will get payed the week after so don’t have to wait too long for money.
Dec 3 22
I also work from home so I don’t spend any money on travel. I also like to do things with my money such as attend a concert, performance, theatre play, events etc so I always do something once a week as it’s still important to live as much as you can but yeah it’s just about being strict with yourself.
Dec 3 22
- find ways to have cheaper bills. Sometimes switching companies for your electricity, gas or internet can be beneficial by signing on for a cheaper bundle. - rethink all your monthly subscriptions. Are you really using all the streaming apps? How often are you really watching Netflix, Disney+, HBO, prime video etc ? Is there maybe a streaming service that you can get access to, through a friend or family member? If you're not using something regularly, you shouldn't be paying for it. And sometimes even the "free" version is not that bad. (I see no point in having spotify premium, the ads aren't even popping up that often) -For a lot of people, grocery shopping is a huge expense. Very often it is due to paying for name brand goods, and prepackaged meals. Meal prepping can be a cheaper alternative because you're making meals in bulk. Cooking larger batches and eating leftovers for lunch/dinner can be a money saver if it works for you. (Doesn't work for my bf and I, unfortunately). Like others said, it's also important to enjoy life. So make sure to include entertainment as part of your budget. And at the end of the day, if there's not much you can change, you'll need to earn more in order to save more. Don't be afraid to ask for a raise. Nowadays it's often recommended to switch jobs every 3 years to earn more and to go up in your career.

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