Before I share the tips and tricks that I have learnt, I thought it would be best if I spoke a little bit more about my journey. A quick disclaimer! I am not a professional budgeting expert or money saving expert, everything I do I have learnt along the way by myself or have had advice from other people on Instagram.
I have only been on a budget since August 2018 and since then I have learnt so much about budgeting, saving money and so much more. But before I get into that I thought I would explain why I am on a budget and how I got to where I am now.
I currently live at home with my parents and sister; I work full time (35-49 hours per week) in the retail sector. I have an amazing boyfriend who I really want to start my life with, which means moving out. Which also means… MONEY! There is only one problem, I earn just above the minimum wage for my age, and I have a debt which started off at £4,000 but is now currently at £1,939.54.
But back in August 2019, I used to think I was good with money and that saving £50 -£100 a month was amazing and I was doing it the right way. It wasn’t until I was messing around on YouTube and found Alyssa Nicole (https://www.youtube.com/user/empouse). It was a video of her cash envelope stuffing that intrigued me and made me stalk her YouTube for hours and hours. She was saving hundreds of dollars a month following a zero based budget and also using cash envelopes. And I thought I should do this, I can do this! So I watched her videos until I couldn’t stay awake and decide enough was enough.
So in the weeks leading up to my payday I researched zero based budgeting, cash envelopes and side hustles. I also came up with a budget once I decided what I wanted to do. I was beginning to understand the error of my ways and realise that I have been doing it all wrong. I felt confident enough to create my own budget. I set myself saving goals I wanted to achieve and started a zero based budget.
Payday was almost here and I was getting more and more excited to start my budgeting journey. And I was amazed. I was saving much more then I could have ever imagined, I was saving over £200 a month for my moving house deposit.
And now 9 months later my savings each month are sky rocketing because I am gaining more experience every month and coming up with new ways to save money.
Now don’t get me wrong, I have made many mistakes. My most recent one was not saving enough money for new glasses. I had to dip into my savings to pay the extra that I needed. But every month I move on and learn from my mistakes.
And you can too!
So over the next few days I will posting all the different parts of my Budget, from cash envelopes, sinking funds, side hustles to how to meal prep like a boss. I will also be talking about I have managed to save £3,605 since November 2018.
If you have only just started your budget, or are many months in I hope that this blog can help you fix your finances. Even if its saving £50 a month to saving hundreds of pounds a month.
So join me as I continue this exciting journey.