Money Saving Tips

[Nymzee]

I've never been good with money myself and it's my biggest annoyance since I'm so painfully aware. It comes in, it goes out. I'm looking to see if anyone has any tips or advice on how to change that? I've rented a house since I was 20 (30 now), somehow didn't save up during lockdowns and am now thinking I'll be some yank renting for life.

Outside of essential bills like rent, council tax, the car rental I'm stuck into etc. I've quit things I didn't even realise I was still paying for (NowTV you [Poor language removed]). I get paid a pretty decent amount every week but have zero savings and never have much money. My largest outgoing this Summer has been the endless 30th booze tours and meals etc. where I regularly spend in the hundreds on the night out.

I'd ask Martin Lewis but he annoys me.

 

[Joey66]

Don't spend any?

 

[JimmyJeffers]

I've never been good with money myself and it's my biggest annoyance since I'm so painfully aware. It comes in, it goes out. I'm looking to see if anyone has any tips or advice on how to change that? I've rented a house since I was 20 (30 now), somehow didn't save up during lockdowns and am now thinking I'll be some yank renting for life.

Outside of essential bills like rent, council tax, the car rental I'm stuck into etc. I've quit things I didn't even realise I was still paying for (NowTV you [Poor language removed]). I get paid a pretty decent amount every week but have zero savings and never have much money. My largest outgoing this Summer has been the endless 30th booze tours and meals etc. where I regularly spend in the hundreds on the night out.

I'd ask Martin Lewis but he annoys me.

Used to do this as part of my job. Use an online budget calculator (think Citizen’s Advice still have one) and work from there. Depends if you have a motor etc. Renting absolutely screws people as you generally pay more than mortgage payments and is difficult to accrue savings. Look to see if you can get some sort of ‘side hustle’ on the go.

 

[Eggs]

….problem with @Nymzee approach is it’s all about ‘now’ with little thought to the ‘future’.

if your Income allows, you need to think about your situation at 60 years of age. Get the big outgoings out of the way & put yourself in a situation that allows you not to work. State Pension age is moving more & more in the wrong direction.

if finances allow, get on the housing ladder. If you’re not in a generous private pension scheme, eventually you might be able to invest in a property you can rent (covering much of the mortgage). This provides regular income or lump sum in your older years.

i was fortunate to be mortgage free at 50 & retired on a lovely final salary pension at 59 but its much harder for you youngsters.

Plan; its amazing how quick time goes. Some good folk on here with financial background.

 

[Nymzee]

Used to do this as part of my job. Use an online budget calculator (think Citizen’s Advice still have one) and work from there. Depends if you have a motor etc. Renting absolutely screws people as you generally pay more than mortgage payments and is difficult to accrue savings. Look to see if you can get some sort of ‘side hustle’ on the go.

I was debating this - I know a bar that does cash in hand.

I've set up a spreadsheet (shock) which shows all my incomings, expected outgoings for each month so I can "project" where I'd be any time in the year if I spent absolutely nothing else outside of what I have to.

 

[Nymzee]

….problem with @Nymzee approach is it’s all about ‘now’ with little thought to the ‘future’.

if your Income allows, you need to think about your situation at 60 years of age. Get the big outgoings out of the way & put yourself in a situation that allows you not to work. State Pension age is moving more & more in the wrong direction.

Oh I'm never getting that haha. Think it's into the 70's for me.

 

[tonyhorne]

1. Set up a savings account.

2. Set up a direct debit so that a fixed amount goes in to the savings account each month

3. When you go out, only take cash. Once it's gone, go home

4. Whilst you are in this frame of mind, check up on the state of your pension. Now is your time to sort this out.

5. Be a bit more boring, like me (or differently boring, preferably) ...

 

[Nymzee]

1. Set up a savings account.

2. Set up a direct debit so that a fixed amount goes in to the savings account each month

3. When you go out, only take cash. Once it's gone, go home

4. Whilst you are in this frame of mind, check up on the state of your pension. Now is your time to sort this out.

5. Be a bit more boring, like me (or differently boring, preferably) ...

Pension is one I buggered up a bit really. My company matches whatever goes in but when it was set up I was early 20's and thought nah so have just had the bare minimum go in each week.

 

[summerisle]

Don't buy Everton.

 

[Black Belt Jones]

Get married to someone awesome.

 

[FrenchDarrenBent]

Stop buying your waifu (body pillow) presents. She's not real!

 

[Rich1878]

If you ever do any online shopping, Top Cashback is alright

 

[chicoazul]

Do not do crypto.

 

[peteblue]

Get married to someone awesome wealthy….

fixed…

 

[davids]

Just go for it,saving is overrated.