♡ 101 of money management ♡

April 27, 2020

Recently, something I have Realised is how much I enjoy money management. This is such an important thing to do sometimes not to mention a skill you need in your life because money is the most necessary thing we need - It’s what we use to survive. Everything comes back to money.

Money Management is a skill that we should all have - it shouldn’t be something you shy away from just because you think you spend too much or cant do. i’ve always been sensible about my money, the older I’m getting the more I’m realising what more I need to do, I want to go out and buy things buf need to make sacralises and save so I can. There are so many approaches to this so I though I would share my tips and tricks I use to earn, save and spend money!


 BUDGETTING 
 The first thing I always need to do is the budgeting. It’s the first place to start when you get any money in - wether it’s a wage or just an odd bit in. I’ve realise you need to be realistic and give yourself enough money to get though. You don’t need to save everything - just some! I was leaving myself short when I started saving but it’s no good so I’ve got a perfect balance going now.

 When I put my money into my savings, I separate some of it. I keep tabs of how much I’ve got in each and add a set amount each month. To help track my savings, I use the app Yolt. This syncs my internet banking so I can see how much I’m spending each month and put it into catagories. The app is free and has so many helpful features - guides, ways you can put actions yourself in to help track, save and budget. It’s my favourite out of the ones I’ve tried and is such a huge help for me.

 Another way I am trying to budget is thinking before I spend. It’s the little things that add up, you just don’t realise it! I was spending so much money on food and drinks, but didn’t even realise it. I’ve started to always bring snacks instead of buying food ouy and about. It saves so much money having them with you instead of singularly buying at a corner shop. If you don’t bring a drink with you - try buy it from pound shop if there’s one close as even though you are still spending, it’ll save.

 SAVING TIPS 
Saving money isn’t always about not spending money, it can be about spending smartly too. There’s always some ways save money when you’re shopping for anything, it’s just all about looking for then. I know I struggle sometimes with saving but once you really get the hang of it.

 Spending smartly is something really with looking into it might take a while to do sometimes but every everything you save helps. If you want to buy something see if it’s cheaper anywhere else! Anything down to toothpaste shampoo or deodorant since they are sold also widely you can check supermarkets, boots or Superdrug and even pound shops. If you if you look to save on everyday things like this you will really see the difference at the end of the month. I’ve found if buying drinks out of the house, go to the poundshop is always a go to for me as our affordable.

 When it comes to saving money something you should not waste it on for certain is coffee. Buying coffee out of the house is one of the biggest money waste. My best tip is bringing a reusable coffee mug with coffee from home out will save so much eventually. I personally disagree with buying coffee out as I think its a killer of the bank.

 Discounts are the biggest money saver. If you are a student you should have UNiDAYs already but you can always search codes up online. I find twitter is a good place to do this. There are always discount codes on for places so more often then not having a look can lead to finding them, and just saving the few pounds can make a difference.

 EARNING MONEY FROM HOME 
We can focus on saving money, but a vital part can also be earning it. There are so many ways you can earn money from home and at the minute I am trying to utilise it. I feel like now is a better time then ever doing this. The best way i find to earn money is Depop! I sell my old clothes or things I don’t want. I love this as its so easy & convenient to list and sell all my things on i love it. As of today I’ve sold 100 items in a mixture of clothes, shoes and makeup. I would recommend Depop to anyone as it also is a way to kill fast fashion!!

 I don’t do this one as much but another way to earn money is taking part in market research. My mum and her friends do this. They sign up to be a part of market research groups and they get told about market research is needed and have to fit a specific criteria to take part. This usually happens a few times a month and can be between £50-£100 which may help if you get this. You can find these groups all over - on Facebook or just online!

 This is not the quickest way to buildup money, but if you leave it to build up over a period time, it can be worth it. I’ve been using quidco since the start of the year and I love it! This enables you to get cashback when you order things online so you got through the quidco website and depending on how much the site gets you will in percentage of cashback of your order! You do have to wait until it’s paid by back the business, Eventually you will get it and I think it’s so worth it. I have just done the £30 in mine and I started it at the beginning of the year I’ve got my mum onto it and we love it! It’s more of a long-term process but at the end of the day you still get the money.

 There are so many ways out there that work for everyone - what you might use might work for me, but not for me. Everyone has there own ways and you don’t need to follow a set structure - you just need to find your own way

 Bailey ♡ xxx

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20 comments

  1. love these tips! i must say i'm a sucker for buying coffee out of the house! i really need to stop :( x
    Amelia (by mills)
    https://www.bymills.blogspot.co.uk

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  2. I am thrilled to see you are financially literate at such a young age. That will serve you well in life. I have used financial apps, but this is the first I have heard of Yolt. Keep it up!

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  3. I'm awful for buying lunch/coffee when I could just make it at home! One way I'm helping myself save is by keeping track of my finances - this way I can see where I need to improve. x

    - charlotte / charlottesspace.com

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  4. Great tips! Especially the budgeting, although I’m personally horrible at it haha

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  5. I used to buy lunch, now I pack mine and I'm saving so much. I'm glad to see a young woman who is financially smart.

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  6. I’m a big ‘yeah, I’m saving’ person, but in reality I’m rubbish so, this was a great post for me!
    Al x

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  7. I am always into saving money and making money, so thank you for sharing these tips! ✨

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  8. I do online surveys and have done since I was at university, they don't particularly bring in the big amounts but they're quite handy to save up and use at Christmas or if you fancy a treat! I struggle to actually save money so I set up a standing order for the day I get paid to transfer a set amount into my savings account and I don't usually end up missing it, and I've managed to save up a fair bit over the last couple of years! Great tips, thanks for sharing :)

    Amy | sassycatlady.com

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  9. A very useful post. I'd like to think that I am good with money. Since I started working after uni I budgeted straight away and would save a portion of money every month.

    Rachael x
    Www.bloggerrachael.com

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  10. Great and informative post! I like to budget and just make note of my finances which helps me to keep an eye on my spendings �� x

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  11. I actually became good at saving my money these days x) Hahaa I don't even know how! But yes, great tips you have there. Thanks for sharing!

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  12. I love this. I have a penny jar that I put all my loose coins in and we use it for spends on family holidays or trips to the beach (because as a family of 5, usually with grandparents too the ice cream bill is always huge 😂)

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  13. I always enjoy reading blogs about money management. I have always been the type to manage my money well. What I like to do is look for different deals that helps save money.

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  14. I agree, money management is so important. I wish I learned about it more before I went to college.

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  15. These are some great tips! My biggest tip for money management is to wait 24 hours before making a purchase. If there's something I want to buy, I will wait 24hours and if I still want it then I will allow myself to buy it - otherwise I end up spending too much money on spontaneous items that I never end up using.

    Roni ��
    www.myelevatedexistence.com

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  16. So helpful thank you! I’m a sucker for buying coffee when out and about!

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  17. Love these tips! Coffee IS such a waste of money. I've never used Depop but I've heard of it! xo

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  18. Some really good tips here! I'm currently battling the saving money dilema but I have just started putting money into my shares ISA so hopefully that will return something in about 5 years, and I've got my pension pot going so long term saving I'm doing well with, it's the "right now" saving I'm not too good at.

    James.
    www.anothermaleblogger.com

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  19. Now that I'm older, I'm also trying to manage my money better. I do some selling online as well - secondhand items I no longer use - mostly books and I try to participate in online surveys.

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  20. Thank you for this post. I am big fan of saving because you really don't know what could happen in the future. So you just have to be safe.

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