Saving on a budget

www-justemmi-com-3This might seem like a weird blog title but we have all been there in life – if not trust then me here will come a time when you really need to stock up on your savings but at the same time you are on a really small budget/income.

I think there is a misconception that all students get a massive loan from the government and have an overdraft etc. In reality as a student I have a part-time job, a loan from the government which doesn’t even cover my rent and thankful a bit in my savings.

But sadly this money isn’t for going out with friends or buying clothes and make-up. Oh no, I am in the big bad and scary world that is third year, basically meaning in the next four months I am going to be tossed out of university and into the world of jobs, taxes and bills.

All of this means I need to get really good at saving money, whilst still being able to eat, live and pay rent. Luckily I’ve been doing this for the past three years of my university life and have found a system that helps.

The best thing to do is to just put your money away and don’t touch it. Aim to put aside a set amount every month into your savings and forget about it until next month. It can be easy to build up your savings and then go and spend it all. The trick is to get into the mindset that you can only spend the money in your current account, not your savings.

Savings accounts are great for the big sums of money but keeping a jar for spare change can really add up. I used to save all of my £2 coins but now i rarely pay in cash I just put all my loose change in a pot at the end of the week.

One of the easiest things you can do to save money is to think about what you are spending your money on. I spend far too much money on coffee and lunch when really all I have to do is make it at home – which is usually cheaper.

If you are going to go out though think about drinking water. For one it’s free in most bars and restaurants and it helps curb your appetite meaning you eat less and therefore spend less on lunch.

I’m not a walking piggy bank and I find it just as hard to save as the next person, but by just changing a few things you can actually save a lot more than you might think.

If all else fails and you find yourself wanting to splash out on something you don’t actually need then remember what you are saving for. The sooner you save the sooner you can have it.

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© Emmi Bowles

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Journalist & Blogger JustEmmi.com

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