Who doesn’t like saving money?
In the current cost of living crisis, the thought of being able to save any cash whatsoever seems unlikely.
But there are ways to make your savings goals feel more realistic and bite-sized, to ensure you’re only putting away what you can afford to.
TikToker Carly is a cash savvy mum who shared her money-saving hack which she says helped her put away £1,378 in 2022.
To try the hack, simply get a piece of paper, draw 52 circles (one for each week of the year) with the numbers one to 52 in them.
Then each week you pick a circle filled with an amount of money you can afford to put away, whether it’s £2 or £30, and you repeat this throughout the year.
Carly suggested that if you earn monthly wages, you can work out what you have spare that month and choose four different amounts based on your total sum and then select one to do each week.
For example, you may figure out that £50 per month feels doable – so you might set aside £20 in week one, £15 in week two, £10 in week three and £5 in week four of the month.
Carly said: ‘Each week I picked an amount I could do, I found that doing some of the higher numbers earlier on in the year helps as it’s not so close to Christmas then.’
While Carly said she is using the money from this challenge to fund a holiday abroad, you can use the money you save to put towards a deposit for a house or simply to set aside for a rainy day.
This can help you to have a buffer if you have any emergency repairs or unexpected payments you have to make.
One person pointed out in the comments that this isn’t realistic for everyone in the current economic climate.
They wrote: ‘It would have to be a pound every week for most people in this day and age. Don’t have a lot left after food, bills, rent, mortgages.’
Carly said: ‘I totally appreciate that, even a pound each week adds up, each persons circumstances are different.’
So if the amounts are too big you could choose lower numbers and a more manageable savings goal.
One user said: ‘I’ve just started this one. Back dating so I can use for Christmas next year.’
Another commented: ‘I love how you’ve responded respectfully to everyone. It’s been useful to get kind advice to the questions.’
So why not give it a whirl and get saving!
Do you have a story to share?
Get in touch by emailing MetroLifestyleTeam@Metro.co.uk.
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source https://metro.co.uk/2023/01/17/this-tiktok-hack-for-saving-money-could-give-you-1300-in-savings-18113144/
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