We all wish our savings accounts were a little healthier. Every month we tell ourselves we're going to put a bit away for a rainy day, and the rainy day never gets a chance to come around as you've had to dip into your savings for milk, or to replenish your shampoo. Or maybe you just saw something that caught your eye and you just couldn't leave the shop without it.
A couple of years ago I read an article online about the Penny-A-Day Saving Challenge. Essentially, for every day in the year you put away 1p. For day one, you save 1p, for day 12 you save 12p, all the way up to day 365 where you save £3.65. This is a good way of saving over £600 in total, and you barely notice the money leaving your account at first.
One of my 2019 Goals and Aspirations is to save £1,000 in total by the end of the year, so I'm going to give this challenge a try. I live my entire financial life on a spreadsheet, so I've created a Google Sheet which I can access from anywhere to keep track of what I need to put into my bank.
While being strict on your savings, it is important to remember to treat yourself - just like dieting! - otherwise you will give up. So alongside this, I will be reviving my Boots Advantage card from the dead (I bought a Fitbit using my points!) and regularly buying their Meal Deals so that my points build up again and I can treat myself.
The money I save will go towards deciding whether to rent or buy a place of my own. As I write this, I'm months away from turning 20 and it's about time I started to become a little more adult.
Over the course of 2019 I will be trying new things here and there to see which way works best for me to boost my savings. And hey, if I get a pay rise or a sponsored post, the extra money will go into my savings too. I can dream!
Do you have any financial goals this year? What are your tips for saving money? Share them in the comments!
I had no idea that saving pennies every day could add up to so much money, i am defo joining in this challenge!
ReplyDeleteThanks for sharing :)
My recent post: https://lifeofellabella.blogspot.com/2019/01/simple-ways-to-boost-your-self-esteem.html
It's crazy isn't it? :)
DeleteI love this idea of penny saving! Might take it up myself. This year my plans are to hit bonus targets and put those towards my savings. A tip I would give for saving is to be disciplined and when you say you will do something stick to it no matter what and once you put it away don't touch it. Last year I purchased a house while paying for a wedding so discipline was KEY for me but we managed it! I plan to apply the same now that I don't have major expenses such as a wedding - imagine how much I could save now lol
ReplyDeleteWould love if you could check out my latest post - http://jokazibwe.co.uk/how-to-furnish-your-house-on-a-budget-tip-1 xx
Yes! Discipline is key! Something I lacked last year was the right amount of discipline, and by doing this & also putting other money into savings I hope I can work on it! Thank you for reading :)
ReplyDeletesuch a great idea! Last year I saved all my silvers into a jar and came away with a fair bit so this should be good if I can keep it up! x
ReplyDeleteThat's a good idea! They only get shoved into a self-service machine when they annoy me so I may have to try that too! Thank you for reading :)
DeleteLove this idea, I've got a jar I've been throwing a couple of quids in here and there. It will be exciting to see how much I get after a while!
ReplyDeleteLove Vicki ♡ www.victoriajanex.co.uk
I may try that later in the year! I'd need to get myself one of those cans you can't open without a tin opener first though! Thanks for reading :)
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