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Simple Ways To Start Saving Money When You Suck At It

So we all suck at saving money, even if we don’t think we are. There’s always room for improvement and contrary to popular belief, you don’t actually have to be saving for a house to be putting some of your hard earned cash away. Kudos to those who are, though.

So we’ve teamed up with NobleOak Insurance to put together this list of easy tips to help you get a head start when you can’t resist online shopping, or saying yes to going out for the fourth time this week.

Auto-Pilot Your Savings

This one’s easy. Get logged onto your online banking app.. right now. It’s going to take approximately three minutes out of your life. Set up a regular (perhaps weekly or monthly) transfer from your transaction account into a savings account. This way, you’ll probably even forget you’re saving and you don’t have to muck around with transferring money every week.

Match Your Spending And Actually Save

Pick something that you spend money on that you know is a bad habit. This could be endless amounts of sushi, your morning coffee(s) or those ciggies you can’t seem to quit. Now, every time you buy it, you have to match the price and transfer that into your savings account. A completely simple way to save and an encouragement to cut out a habit that you’ve been wanting to ditch for ages but have a complete lack of self control over.

But be consistent! Find the willpower to transfer that cash when you do make a third coffee purchase.

Pay With Cash

The age old paying with cash trick requires little explanation. Paying with cash feels like you’re spending your money at about three times the rate because you can physically see it coming out of your hand. With card transactions however, you don’t notice you’ve spent so much until about two weeks later when you log on to internet banking. Have a go the old fashioned way instead.

Cut Up Your Credit Card

We’ve been brought up to think we need a credit card for credit ratings. Yes, it’s a useful way for the bank to see how well you manage your moolah, but it’s definitely not the be all or end all. I, personally, have never had a credit card and (hopefully) never will.

Having one is a dangerous excuse to chuck some of those bigger purchases on there. Then claim you’ll pay it off within your 40 day’s of zero interest. Truth is, you can’t actually afford the new shoes you just bought, and your bank account is gonna’ suffer in the long run. A bit of tough love goes a long way.

Cancel Memberships

We all have about seven unnecessary memberships or accounts we may allocate money to, whether it be monthly or annually. Yes, no doubt you’ve got to keep your Spotify and Netflix accounts up and running, but in reality, do you still need that magazine subscription you started when you were in high school or your random book-club membership you’ve used about three times this year? No, you don’t. Cut ‘em out for quick cash savings.

Are you trying to save some cash, but your bank account has never been more empty? It happens to the best of us, but as we all get a little older saving up for our future self is bloody important. NobleOak can help out when it comes to choosing life cover to suit your personal situation or life stage – because goodness knows it’s different for us all! Check out all the way they can help ‘ya out here.

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