Memoir: Balling On A Budget 

Whether you’re young, fab and still living with mum or have moved out with bae, saving at some point or another has been a thing to get where you are or at least on the way…

If you’ve mastered the art of saving whilst still having a life then I applaud you & this may not be for you, though you are more than welcome to read.

The topic of saving for some can be a touchy subject, I know that personally when I don’t save what I am meant to in a month I feel silently disappointed within myself. And sometimes when it seems that I’m doing way too much (being a big spender) my parents, always out of good interest will advise me to rein it back in, but obviously being stubborn & young I don’t want to hear any of it! Especially when you know that when your parents were your age they both owned their own homes. Societal and family pressures definitely know how to make a girl feel good about themselves. But nonetheless saving isn’t a bad thing

It’s easy to blame the ‘system’ for why it has been increasingly difficult for young people to prosper financially especially when trying to enter the housing market (It’s a mess tbh). With such a mindset you may as well quit whilst you’re ahead and just blow your money fast. But the truth is, you’re the creator of your destiny. And with every aspiration you’ve got to be willing to put in the work!

Now don’t get me wrong nobody is saying that you have to ditch your social life, stop going on holidays, stop wearing in season clothes, but all can be done in moderation and more thought behind it.

Amen!

Everyone’s financial situation is different, from your salary to your outgoing costs, to dependents, it can seem overwhelming. But the brilliant thing is there is always a way. So whether you’re saving for a holiday next year, for a rainy day or a mortgage, what ever it may be, here are a few things that have and are still helping me on the journey of saving:
COMMITMENT
You’re obviously saving for something, and you know when you need that money by. So it’s important to be very strict with yourself. Know exactly how much you are putting aside  each month, and stick with it, believe it or not that’s the hard part. Anyone can say they would like to put aside £500 a month but many of us fail to do so.
PLANNING
This is one I am still yet to master, but I cannot emphasise the importance of it. Every month you should know what I like to call ‘hard-out-goings’ are. These include, your phone bill, travel expenditure, rent, grocery allowances and any other bills that are direct debited that are deemed essential. If you have direct debits in there that do not have a true benefit, such as your monthly direct debit with Graze, or GQ then you may want to review your subscriptions. It’s a challenge but with planning, you are able to organise the remainder of your money after the hard-out-goings and savings to accommodate for a little bit of fun.
BUDGET
With planning comes budgeting.  So you’ve put aside your savings, and you’ve calculated what your hard-out-goings are and you’re left with x amount to spend until next pay-day.
You’ll quickly find that having planned and budgeted you’ll either keep yourself out of debit or work yourself out debit if you’re currently in debit.
PRIORITISING
When it’s all said and done it’s important to also prioritise, some things may not really be essential. You’ve got to know for yourself what’s important and what isn’t. A little rejigging here and there never harmed any one, so let’s focus on what’s important, and but some other things on a back burner if it doesn’t quite fit the bill of being important.
SACRIFICE
And above all, there will be a little sacrifice. It may hurt at first but it will feel good when you’ve moved in to your new flat, been able not to feel the wetness of a rainy day.
FINANCIAL ADVICE
I found it very useful when I sought financial advice from my bank. They made me aware of all these things and helped me to set a realistic amount I would like to save each month and give me a saving pack. Similarly, they also made me aware of the various saving schemes they had to offer. Something I highly recommend you doing to help in you attempts to save.
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For me I haven’t yet mastered the true art of saving. I save but could do a little better considering I still live at home and my only expense is my monthly phone bill. As I’ll be also aiming to further put in to action my advice I’ll be doing a follow-up post. Do share any saving advice and tips and let me know how you are getting on with saving!
Nads xo
Please note – Images in this post have been sourced from Instagram for reference purposes only.

6 thoughts on “Memoir: Balling On A Budget 

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