3 Simple Money Saving Tips
Here are my 3 simple money saving tips for you to try.
1. 365 Day Savings Challenge
A simple challenge in that you choose an amount to put away into a separate bank account and carry out that transaction every day throughout the year.
So if you put away £1 a day then you will come out with £365 by the end of the year! Increase that to a fiver and you get a whopping £1,825 saved, enough for a future holiday in the sun.
2. 1p Savings Challenge
Another simple one but a bit harder as most of us don’t tend to carry cash so it will be a lot of micro-online transactions but if you put away 1p on 1st of Jan and increase the amount by 1p every day you will have £667.95 by 31st December.
3. Round Up
A bit of maths involved but still a fairly simple challenge and one that builds up without you really noticing. When you buy something if you round up the purchase price and then put the difference away in a savings account you will end up with a tidy sum at the end of the year.
There is a great app called MoneyBox (https://www.moneyboxapp.com/) that you can link to your bank accounts, and it calculates the amounts for you and transfers it into a savings account or Share ISA.
What’s your target for next year?