HOW I SAVED £1000 IN TWO MONTHS

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I always feel like I go through “financial phases”. Sometimes I feel like setting a huge goal and heading straight for it, and other times I just want to treat myself… 7 times in a month. I’m in my third and final year of uni and the prospect of graduating and finding The Job at the end is looming over me and is quite frankly, a freaking scary thought.

Back in July I discovered SugarMamma.TV, a YouTube channel created by Australian financial advisor Canna Campbell, and in August, I decided to completely overhaul my whole outlook on my finances.

Canna is all about creating financial independence for yourself and not having to rely on anyone to provide for you. When I started watching SugarMamma.TV I was coming towards the end of my last loan from 2nd year and still over a month away from receiving my next loan through, and as I didn’t work over the summer I wasn’t in a position to put money into savings there and then like I would’ve loved to. Instead, I created a budget using the SugarMamma spreadsheet available here on Canna’s website, it’s so easy to use and really makes you think about how much you really spend on particularly frivolous everyday items.

This brings me on to my favourite tips that I learnt from Canna that have helped me to save £1000 in under 2 months…

  1. Set a Goal
    When I first started thinking seriously about my finances, I didn’t have a set goal, mainly because I didn’t really know how well I would do – whether or not that goal would even be a realistic one. But looking back, I would definitely say that if I had set a goal from the start, I would have probably underestimated just how much I could save in such a short space of time. £1000 in two months, for me, is a lot of money! Set a goal that is high but achievable if your mind is set. Make the goal realistic, but still a number high enough for you to be proud of when you reach it.
  2. Open a Savings Account
    This might seem like a bit of an obvious point, it certainly seems obvious to me now, but I’d never had a separate savings account before now. This is probably my favourite out of all the tips as it really allows you to see exactly how much money you aren’t spending! It also acts as a barrier if you are an impulse spender like me!
  3. Create a Budget
    When I first used the budget spreadsheet on the SugarMamma website, I tried to put in the truthful (and shameful) amount of money that I’ve been spending on things like extra data for my phone, Starbucks, magazines, and mid-week leisurely lunches. As an example, it worked out that I was spending almost £700 a year on Starbucks! Like I said, shameful. Whilst I’m particularly embarrassed about admitting that, I also am not committing to completely cut out those things altogether, I would like to have a life! However, it just really does make you more mindful about how much you spend on things that really add up, but don’t really count for anything. I’d much rather spend that money on something that is actually going to bring me joy than just a few Starbucks’ a week. So creating a budget is a HUGE lifesaver when you are saving, it also allows you to work out how much money you’ll have leftover at the end of the month so you can put that in your savings account.
  4. Download a Banking App
    Having a banking app on my phone has really helped me check my balance more often which, in turn, stops me from spending as much! It’s also a tool which makes it easier for you to transfer money from your everyday account over to your savings account.
  5. Put Money Into Your Savings Every Time You Check Your Balance
    I always, always do this and it makes so much difference. For example, if my balance is standing at £854.67, I would put £4.67 into my account. I call it “clearing down” my balance, but it’s basically just rounding it down to the nearest 10. If I’m in a particularly “rich” phase, I’ll round it down to the nearest 100, but every little helps, so even if you only put the £0.67 into your savings, it’s better than nothing! Get into this habit every time you check your balance and your saving will creep up so quickly!
  6. Sell Unwanted Items On eBay
    This is a tip that has killed two birds with one stone for me. Being a fashion obsessive I have accumulated A LOT of clothes. That is including stuff that I don’t wear, things that have never been worn and still has tags on (*sigh*), things that I no longer like and things that don’t fit! It can be a bit of a pain taking photos of everything, writing up descriptions and putting it all up, but it is so rewarding once you start getting bids. Watching people in the middle of a bidding war for your old crap is rather entertaining! The money I’ve earn on eBay has gone straight into my savings account, and this has greatly helped my goal. Plus, it’s given me breathing room in my crowded wardrobe…
  7. Ask Yourself If You Really Need it
    Like I said before, creating a budget has really helped me to be aware of how much I spend on things that I don’t really need. Do I really need a 56th lipstick? No. Do I really need an 8th pair of black skinny jeans? No. Etc. I’ve definitely become more aware when I’m shopping – even though I don’t deprive myself as such, I’m not out to completely change who I am, I’m merely trying to be more intelligent with my finances.

So there are my (well, really Canna’s) top tips for saving money! I’ve saved over £1000 since the end of August – the most amount of money I’ve ever saved before, and it wasn’t even hard. I feel like these are tips for life and I am so grateful that I found SugarMamma.TV to teach me these financial tips and tricks!

This post is in no way affiliated with SugarMamma.TV, I’m just so thankful and proud of myself for having saved as much as I have, and that wouldn’t have happened if it wasn’t for Canna!

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WEEKEND READING

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I’m home for the weekend, and whist I should be writing my dreaded Contextual Studies essay, I’ve been catching up with Gaga, Kirsten and Rita. After the brilliant first issue of Porter last month, I was eagerly anticipating this issue; was worth the wait? Hmm…

IT’S BEGINNING TO LOOK A LOT LIKE CHRISTMAS…

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So Christmas is almost upon us and with only 5 days to go until the 25th, it’s fair to say the world has gone cray cray for Christmas. I always love decorating the house for this time of year, we always go fairy light crazy! Just sitting here now in my dining room I can see three sets of fairy lights in different places, which I love. I can’t get enough fairy light action. Here are some festive decorations from around my house…

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The simplicity of fairy lights somehow bring me so much joy, simple pleasures satisfy a simple mind? (I hope not!) And if I had my way we’d have the house covered in white twinkles on the outside too, but I guess I’ll have to wait until I have my own place to live to satisfy that fairy light craving! Here, however, are a couple of Christmas decorations from houses in my area.

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I am jealous of anybody who has beautiful lights up outside their homes!

NEW IN: GLOVE LOVE

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It’s the weekend that the retail industry baits its breath for. It’s the typically American tradition that has somehow seeped into the realms of the UK retail trade whereby the whole country is on shopping standby for the weekend whilst eager shoppers take advantage of the one-weekend-only sales. I was one of said shoppers, I’m not ashamed to admit. Whilst my shopping excursion was a whistle-stop tour of “the main part” of Covent Garden (I only went into one shop… Yay for my non-resistance!) I did however spend a rather inordinate amount of money on a pair of gloves.

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It has to be said though, that I have had my eye on these supple beauties from Kurt Geiger for a while now. Three months to be exact. And whilst some may say that spending £60 on a pair of gloves is ludicrous, I on the other hand, wave two fingers (two leather-clad fingers, might I add) up in the air and declare an investment has been made. Yes, they were £60. But they would have been £80, thanks to the eager sales assistants shoving 25% discount vouchers in everyone’s faces upon entering the shop.

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Woollen gloves never go out of style. Neither do leather gloves. Combined, KG are onto something. Expensive or not, they will go with anything and get better with age. And for the record, I wore them all the way home and my hands were not even the slightest hint of chilly. I win.

MY MCQUEEN LEGGINGS.

So this week, this arrived in the post:

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I decided to make the most of my birthday money and the mid-season sales and bought myself some McQ leggings. I bought the Iris Mirror print leggings and they. are. fab. They really are.

There’s one teeny weeny gripe with them… They’re slightly on the bigger side, just very slightly. I can still wear them and as long as I keep my butt covered it isn’t noticeable at all. I think they’re perfect.

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This is me wearing them. I’ve paired them with my Zara shoes and a tuxedo blazer from Zara which I bought yesterday with 70% off.

Aren’t the leggings fab?!