Why You Should Have Two Emergency Cash Accounts

The best thing you can do for your finances is to have two emergency cash savings accounts. These are rainy day funds to help you budget and stop you getting into debt from unexpected bills. Saving money even if you are still trying to become debt free will help you manage your personal finances hugely. #savemoney #debt #finance #personalfinance #emergencycash #budgeting #budget

The best thing you can do for your finances is to have two emergency cash savings accounts. These are rainy day funds to help you budget and stop you getting into debt from unexpected bills. Saving money even if you are still trying to become debt free will help you manage your personal finances hugely. #savemoney #debt #finance #personalfinance #emergencycash #budgeting #budget

You Don’t Need Just One Emergency Cash Account, You Need Two!

When you’ve come through being in debt you know you need to have a firm handle on your finances and emergency cash in the bank.

It’s not enough to just balance your books every month, you want peace of mind and money in the bank. You need to be able to deal with the bumps in the road that come along.

They always happen when you least expect them.

I recently wrote about how to start your rainy day fund when you are broke. To manage your money you need to have a back up for when unexpected things happen. Unexpected things that cost money.

 

Come and follow me on Pinterest for more money saving hints and frugal tips!

Why you need 2 emergency funds to manage your money. Be brilliant with saving money and budgeting and get your cash stashed! #savemoney #emergencycash #tuppennysfireplace #budgeting #budget #personalfinance #finances

 

Everyone needs to have cash that you can draw upon in times of emergency. This stops you from going into debt just when life has become that extra bit difficult.

If you haven’t already got your first emergency cash fund set up please do so ASAP. Emergency cash stops you worrying and going into debt when you going through bad times.

Related post: 

Emergency Fund Examples: 23 (Unexpected) Reasons Why You Need One

How To Stop Worrying About Money

How To Budget And Save Money Like A Frugal Ninja

 

 

You absolutely need a rainy day/emergency cash account. But the one other thing I recommend you do is:

 

Have TWO Emergency Cash Accounts

 

But why would you want to have two emergency cash funds I hear you ask?

The way I see it is that there are different types of emergency and this is where having a 2nd separate savings account comes in.

Keeping your emergency cash separate will help you to differentiate between the different types of emergency.

Your first savings account will likely be dipped into a couple of times a year, maybe more. Your second account much less frequently.

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The Easy Way To Save Money

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No.1 Emergency Fund

Your 1st emergency cash savings account is to cover the unexpected bills that pop up when life throws you a curve ball.

A large car repair bill, replacing your boiler just as the first cold snap of winter kicks in.

These are one off costs but over the period of a year or two you will dip into this savings account more often than you might have planned.

If you thought you wouldn’t need to touch this fund more than once in a blue moon then I am sorry to say this is unlikely.

Curve balls get thrown at you more often than you want and do seem to follow the rule of 3. It’s bad enough when you have one curve ball thrown at you but 3?

That’s why you need this rainy day fund.

 

No.2 Emergency Cash Fund

So why the 2nd account if you already have the 1st account up and running?

Because there is always a bigger, more long term curve ball that life can throw at you which requires a bit more money over a longer period of time.

I’m talking about job loss or long term illness. If you are in a one income family and lose that income how long can you survive without going into debt or defaulting on your mortgage/rent?

Having a few months worth of your essential living expenses (mortgage, bills, food) tied up in this account only for this type of bigger emergency is essential for anyone who is reliant upon an employer for their income.

Being self employed still makes this emergency cash account essential, what happens if you fall ill or your best client goes bust owing you thousands?

 

How Much To Save

Work out what your basic, essential living expenses are for a month. Aim to get at least 3 months worth into your second savings account.

If you have the cash to spare it would be even better to have 6 months of living expenses saved. If you lose your job the recruitment process to get another job can take an age even when you are successful.

I know it may take a little time to save enough into both these savings accounts but believe me it is worth it. For peace of mind and for when life throws you that curve ball.

What do you think about keeping your emergency cash in 2 accounts?

 

 

Come and follow me on Pinterest for more money saving hints and frugal tips!

The best thing you can do for your finances is to have two emergency cash savings accounts. These are rainy day funds to help you budget and stop you getting into debt from unexpected bills. Saving money even if you are still trying to become debt free will help you manage your personal finances hugely. #savemoney #debt #finance #personalfinance #emergencycash #budgeting #budget

Why you need 2 emergency funds to manage your money. Be brilliant with saving money and budgeting and get your cash stashed! #savemoney #emergencycash #tuppennysfireplace #budgeting #budget #personalfinance #finances
Why you need 2 emergency funds to manage your money. Be brilliant with saving money and budgeting and get your cash stashed! #savemoney #emergencycash #tuppennysfireplace #budgeting #budget #personalfinance #finances
The best thing you can do for your finances is to have two emergency cash savings accounts. These are rainy day funds to help you budget and stop you getting into debt from unexpected bills. Saving money even if you are still trying to become debt free will help you manage your personal finances hugely. #savemoney #debt #finance #personalfinance #emergencycash #budgeting #budget
The best thing you can do for your finances is to have two emergency cash savings accounts. These are rainy day funds to help you budget and stop you getting into debt from unexpected bills. Saving money even if you are still trying to become debt free will help you manage your personal finances hugely. #savemoney #debt #finance #personalfinance #emergencycash #budgeting #budget
The best thing you can do for your finances is to have two emergency cash savings accounts. These are rainy day funds to help you budget and stop you getting into debt from unexpected bills. Saving money even if you are still trying to become debt free will help you manage your personal finances hugely. #savemoney #debt #finance #personalfinance #emergencycash #budgeting #budget
The best thing you can do for your finances is to have two emergency cash savings accounts. These are rainy day funds to help you budget and stop you getting into debt from unexpected bills. Saving money even if you are still trying to become debt free will help you manage your personal finances hugely. #savemoney #debt #finance #personalfinance #emergencycash #budgeting #budget

How To Keep Your House Warm In Winter And Save Money

amaerican one story house covered in snow

Keep your house warm and your energy bills low this winter with 15 frugal tips. Keep to your budget and save money by following these money tips to save energy. Be more frugal, save energy, help the environment and save money. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #energybills #winterbills #saveenergy #ecofriendly

Worried About Your Energy Bills?  Want To Know How To Winterize Your Home?

Autumn/Fall is on it’s way and with it the potential for a large increase in your energy bills. Humans are warm bloodied creatures so we like to be warm whether it’s summer or winter.

Being warm in winter can come at a price – a hike in our energy bills. Right now the sun is shining and the wintry weather you know is coming seems a long way away.

But now is a good time to to prepare your house, minimize your energy consumption and keep your energy bills from going through the roof. Without sacrificing the feelings of warmth.

(This post may contain affiliate links. You can read more here.)

 

Here in the UK we don’t usually get the extremes of weather that our friends in the US and Canada get but last winter was a serious shock to the system.

We had snow! In the South of England! I know, shocking isn’t it?!

The problem is our UK homes are not built to be super efficient and warm during really cold weather as it’s not something we often have. So when the snow descends the energy bills can rocket.

Not so in the Tuppenny household, we are preparing like we do every year to keep ourselves warm and keep our energy consumption down.

We might not have super harsh winters but we have no intention of paying higher energy bills just because we haven’t taken the right steps to keep them down.

You might also like: 7 Simple Tips of Fabulously Frugal People to Live a GREAT Life

 

Follow me on Pinterest for more money saving hints and financial tips!

Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #saveenergy #ecofriendly #personalfinance

 

Reduce Your Energy Consumption – Turn the Heating Off Over Night

If you are in a really cold climate you probably can’t afford to turn the heating off overnight as the temperature would drop too much.

We save energy by happily turning the heating off at 9.30pm every winters’ evening. It kicks back in 20 minutes before we get up.

On a crisp winters day the inside temperature will drop to around 13c/55f. As I am first up it’s fairly cold when I get up first but my morning routine is one of doing, not sitting around.

If you are doing – getting showered, getting dressed and getting breakfast – then you are moving around and will keep warm that way.

Even in winter I have a cold shower although I do rinse with hot water as the brain freeze gets to me!

 

Reduce Your Energy Consumption – Don’t Let Heat Escape Through Gaps in Your Windows and Doors

Insulate your window and doors to keep the warmth inside your house. If you haven’t yet got double or triple glazing then if your budget allows you might want to consider investing in these.

However that’s a long term energy reduction strategy which could cost you a significant amount of money upfront.

In the meantime, double glazing or not, you can add plastic coverings to your windows to act as an additional thermal layer.

It’s rather like putting cling film on your windows, where you use a hair dryer to create a taught finish.

Sounds a little crazy but it works! We used it on our first house as we couldn’t afford to make any home improvements.

It helped us reduce our energy bills during 2 winters before we could afford to have double glazing installed.

You may also like: Cut These 10 Monthly Expenses and Crush Your Budget – Today!

 

 

Energy Saving Tip – Put Blankets on Your Bed

On cold winter nights, instead of keeping the heating on or turning up the thermostat, put a couple of extra blankets on everyone’s bed.

Extra layers will make everyone feel wonderfully cosy and warm without increasing your energy bills.

 

Energy Saving Tip – Insulate Your Attic

If your attic is not adequately insulated you can lose a huge amount of heat straight up into the attic and then the atmosphere.

The general guidelines for what level of insulation you should have has changed a few times over the past 20 years.

If your insulation is more than 10 years old you might want to consider adding to it. This will cost you money but will pay for itself in a couple of years.

 

Keep your house warm and your energy bills low this winter with 15 frugal tips. Keep to your budget and save money by following these money tips to save energy. Be more frugal, save energy, help the environment and save money. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #energybills #winterbills #saveenergy #ecofriendly

Energy Saving Tip – Wear Extra Layers

Shorts and t-shirts are for the hot summer months. They are not for winter days where you turn the thermostat up to keep warm.

Winter clothes are for winter and that includes more than one layer.

Mr2p doesn’t feel the cold as much as I do so whilst he might wear a long sleeved shirt and possibly a fleece on a cold day.

I will be in a thermal top, further long sleeved top and a warm fleece.

As an added warmth factor I tend to wear fleece lined trousers in the winter. So comfy and keep me toasty warm.

I bought them for winter walking but can’t help wearing them around the house – toasty!

 

Ways to Save Energy – Turn the Thermostat Down

Once we have completed all our jobs for the day/evening then you are likely to find us relaxing on the sofa, possibly watching TV or talking.

You can get quite cold when you are sitting down after a while so the impulse, preference, habit is to turn the thermostat up as you feel cold.

Instead we have beautiful blankets that we snuggle under if we start feeling the cold.

We keep our house at a balmy 66F/19C in the evening and 61F/16C during the day.

 

Ways to Save Energy – Service Your Boiler or Furnace

Although an annual service will cost you a small chunk of change, it is part of your essential home maintenance which will pay dividends every year.

Servicing your boiler/furnace will ensure not only is it operating safely but also at optimum energy efficiency.

The more efficient your heating system is the lower your energy bills will be.

 

Reduce Your Energy Consumption – Only Heat the Rooms You Use

Don’t waste energy heating those rooms that aren’t being used from one day to the next. We keep the spare room door closed and the radiator turned off/very low.

We only use our bedroom for sleeping in and we have a lovely warm duvet so we don’t heat this very much either. It’s usually 5 degrees cooler in our bedroom than the lounge.

We also like the window open at night so there’s no point having the heating on, only to watch it fly out of the window!

 

Reduce Your Energy Consumption – Heat The House Only When You’re at Home

With both of us usually being out of the house all day it seems pointless and wasteful to be using energy to heat an empty house.

Our boiler program is set to kick in 30 mins before one of us arrives home.

If we get home early we can override the program so it kicks in straight away. You can also operate your thermostat via an app with some systems.

We have a minimum setting similar to frost protection setting so if the house drops below 54F/12C then the heating will kick to bring it up to this minimum level.

You may also like: The Easy Way To Save Money – 15 Tips To Save $14,000 a Year!

 

How to Save Energy – Make Use of Sunny Days

We are lucky that our house faces due south and we have large windows which let in a lot of light. During Autumn, Winter and Spring we get free heating courtesy of the sun.

Keeping our curtains open all day allows the sun in to heat the house nicely. Obviously in the summer we have the opposite problem and have to keep them closed!

The sun pouring through double glazed glass really heats up a room and will help you keep your energy bills down low.

 

Keep your house warm and your energy bills low this winter with 15 frugal tips. Keep to your budget and save money by following these money tips to save energy. Be more frugal, save energy, help the environment and save money. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #energybills #winterbills #saveenergy #ecofriendly

Energy Saving Tip – Invest in Thick Curtains

Curtains can make a real difference to your home.

Not only do they add a nice touch to the look of your rooms but they can be highly functional and help you keep warmth in and the cold out.

Thick, lined curtains are perfect to help you save electricity yet keep your house cosy.

 

Save Electricity – Keep Your Curtains Closed at Night.

Curtains are a real energy saving winner, especially if you have lovely thick lined ones. Utilize their warmth properties by closing your curtains as soon as the sun has set.

They will keep the warmth inside your house instead of letting it escape through your windows as the outside becomes colder.

 

Save Electricity – Keep Your Radiators Free

There is a tendency to place sofas up against the radiators in your living room. And beds or cupboards against radiators in your bedrooms.

Doing this actually blocks the heat from moving freely around your rooms and you end up with a colder room. Which in turn is likely to encourage you to turn your thermostat up.

If you have curtains above a radiator make sure they aren’t floor length and thereby stop the heat from getting into your rooms.

Curtains that finished just above your radiators work best in doing their own job of keeping the warmth in and helping the radiator do its job of giving out warmth.

 

Keep your house warm and your energy bills low this winter with 15 frugal tips. Keep to your budget and save money by following these money tips to save energy. Be more frugal, save energy, help the environment and save money. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #energybills #winterbills #saveenergy #ecofriendly

Save Energy By Warming Your Floors

If you don’t have underfloor heating then laying thick carpets will help you keep warmth in the room.

I love a real wood floor but they can make the house feel cold. Wood floors can be made warmer by throwing down a couple of rugs.

 

Be Smarter With Your Energy Consumption – Cook and Bake More

Using your oven more during the winter months gives you extra heat which will make it’s way through the house. In the summer you wouldn’t want your oven on for a few hours.

But in the winter, comforting foods that warm you up from the inside tend to lend themselves to being cooked in an oven.

Think hearty casseroles, lasagna and a good old roast. You have the added benefit of the oven warmth being shared whilst you enjoy a hearty meal.

You may also like: 13 Killer Ways To Save Money On Groceries – Save Hundreds Every Month

 

How to Keep Your House Warm and Your Energy Bills Low This Winter – Bonus Tip

If you haven’t changed your energy provider recently then you definitely should look into doing so.

Many energy providers offer fixed rates so you know what your bills will be for the fixed period.

The problem with fixed rates is when they finish you end up on your providers variable rate which is never a good deal.

Utility companies rely on us not questioning our utility bills. In some states and countries you have a choice of utility company to use.

This makes for a great way to save money as these companies always offer new customer discounts.

Even if you can’t change company, you can certainly contact your existing company and ask for a discount. If you don’t ask, you don’t get.

Look After My Bills is a fantastic new service in the UK that will automatically switch you to a new provider as your existing one becomes more expensive.

Not only is LAMB free to join, they keep checking the market and switch you again as your existing deal ends, so you know you will always be on the best deal. How fab is that?!




 

Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugallifestyle #savemoney #budgettips #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugalliving #savemoney #budgeting #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugalliving #savemoney #budgeting #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugalliving #savemoney #budgeting #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugalliving #savemoney #budgeting #budget #saveenergy #ecofriendly #personalfinance
Save money using these money saving ideas and budgeting tips to save energy. Have a frugal lifestyle, save energy, help the environment and save money. Personal finance tips and budgeting tips to keep your utility bills low. #energysaving #frugal #frugalliving #savemoney #budgeting #budget #saveenergy #ecofriendly #personalfinance

How to Stop Worrying About Money – Banish Worry With 15 Simple Tips

girl sat on a bench looking down worried against backdrop of stormy skies

girl sat on a bench looking down worried against backdrop of stormy skies

Are You A Worrywart? Do You Think About Money When You Should Be Sleeping?

If you are like I used to be then if you don’t have control over your money and you are living paycheck to paycheck then you are losing sleep.

Learning how to stop worrying about money will give you back that sleep and help you start enjoying life again.

The worry about debt, about how you will manage this month, next month keeps you awake and churns in your mind during the day.

This a horrible place to be and isn’t healthy for you.

We need to get you out of this worrywart state and into a better place.

One where you can learn how to stop worrying about money and start living.

Where you can get rid of your money stress once and for all.

When you feel like you’re living on the edge it can be hard to plan out and manage your finances clearly but once you have done this you can stop thinking about money all the time.

Follow these guidelines and start sleeping easier at night.

 

How To Stop Worrying About Money – Banish Worry With 15 Simple Tips

 

Pay Yourself First

If you’re going to stop worrying about money then you need to be reassured you have got some money saved.

Paying yourself first is about your goals, your future and your retirement.

If you are stressing about money and debt then until you put yourself first you will continue to stress.

If you don’t pay yourself first then your ability to save your money will be reduced as you will spend the money in your account.

Very few people can save decent money every month when it’s sat in your everyday account.

If your plan is to save £200 a month then set up an automatic payment to save this into a separate account straight after pay day.

 

Be Kind To Your Future Self

Don’t get stuck in the present and fall into the trap of YOLO and only think about the now.

Think about the future. You in the future – your future self – will also need money.

You’re not going to want to work forever and state pension/social security does not pay as much as you probably want or need.

Plus you might lose your job, cut your hours etc.

Decisions you make now will impact your future self.

Make them sensible decisions.

 

Follow me on Pinterest for more money-saving hints and financial tips!

pinterest image of how to stop worrying about money with night sky scene

Managing your money is key to not worrying about money and achieving your money goals. Personal finance tips, money saving tips and budgeting tips to help you save money, stop worrying and start living a frugal lifestyle. #stopworrying #moneygoals #finances #savemoney #buildsavings #manageyourmoney #personalfinance #budgeting #frugallifestyle

 

 

Don’t Get Into Debt

The biggest mistake you can make is to go into debt to fund your lifestyle.

You get used to living beyond your means so trying to pay it back is incredibly hard and every day your money feels tight.

Worrying about debt will keep you awake at night. Taking steps to clear your debt is key for you to stop worrying about money and start living.

A mortgage is the only debt ideally you want to have, and that’s only because it’s almost impossible to save enough to pay for a house in cash – if only house prices were that cheap!

Many people have credit card debt. Credit cards aren’t bad, indeed you can earn money with them, but always pay off your balance in full every month.

If you do have debt then prioritize and work out how to pay off the debt fast so you can enjoy life without money stress.

Money Quote:

“Every time you borrow money, you’re robbing your future self” Nathan W Morris

 

Give Yourself A Budget To Stop Your Worry

And stick to it! Having a budget means you are allocating your money to various bills, savings and fun money spending.

You need to budget and save money in order to then track your spending and know whether you are on track to achieve your budget.

Your budget will reassure you that you have enough to pay your bills and eat each month and you will stop worrying so much.

Money Quote:

“Don’t tell me what you value, show me your budget, and I’ll tell you what you value” Joe Biden

 

couple at table with laptop

 

Stop Emotional Spending

Many people are influenced by their emotions. Some people are emotional eaters, and some people are emotional shoppers.

It’s a bit like the saying – don’t go shopping when you are hungry as you’ll buy more food.

Don’t go shopping when you are having a blue day.

You’ll spend more trying to make yourself feel better which won’t last because you’ll later feel bad for spending too much money.

Same goes for when you are celebrating or having a great day.

Don’t go spending as you’ll treat yourself too much as part of those celebrations.

 

Keep Your Taxes Down

We all have to pay our taxes and they in turn for much that is in our interest in our daily lives.

But you can legitimately reduce your taxes and keep more of your money. Make sure you know your countries tax efficient laws.

Here in the UK you can save into a pension and get tax back from the government.

We also have tax free ISA savings. In the US the 401k and/or a Roth IRA provides for tax efficient savings.

 

close up of drops of water landing in water with droplets all around

Have A Rainy Day Fund

Having money you can access as soon as you get hit with an unexpected bill is such a relief.

No need to worry about how to pay such a bill, you have the cash you can pay it.

When life throws you curve balls having that emergency cash will help you deal with whatever the problem is without stressing about the money side.

Your rainy day fund should be $/£1000 to start.

And ideally you want to work up to 3/6 months living expenses in case you get the ultimate curve ball and lose your job.

If losing your job is a worry and you want to stop worrying about it, build your rainy day fund up to a reassuring level.

Related post: Why You Should Have Two Emergency Cash Accounts

 

 

Live Below Your Means

If you live paycheck to paycheck you’ll never get ahead and never be able to pay yourself first.

Nor will you cope if you have an unexpected emergency as you won’t have built up a rainy day fund.

When you first start working you might be on a low wage.

As your paychecks get bigger don’t allow your lifestyle to creep up so that you are spending all of your new raise.

Living below your means has much to offer. Indeed if you lived like a student has to you would save thousands.

Although maybe you want to be somewhere between a student lifestyle and an excessive one!

Key thing is, don’t spend all your wages always save some, for your future self, for a rainy day fund, for retirement.

If you do all that you’ll be in great financial shape!

 

Buy Used

You pay an absolute premium for buying new. A new car loses up to 30% of it’s value as soon as you drive it off the dealerships forecourt.

Same goes for expensive tools and even new build houses.

Buy used and you will save a fortune. Buy a car that’s 3+ years old.

Check out Ebay or your local Facebook group for used items. Hit the charity/thrift shops for new to you clothes.

This is an easy way to save money on stuff that you’re going to buy anyway.

Related post: create your own work uniform

 

turquoise calculator on top of an open white ringbinder notebook

Track your spending

If you track what you spendand what you earn then you will know what financial page you are on.

Knowing where your money is going is key to making good decisions and being able to stop worrying about money.

 

Don’t Keep Up With The Joneses

They are in debt and living beyond their means. Nor are they happy.

Their lifestyle is not real, it’s a castle in the sand and at any moment could be washed away.

That is not how you want to live.

The Joneses have loads of stuff but has it made them happy? They can’t be happy if they keep wanting more.

 

Be Happy With What You Have

Do you worry about money even when you have enough? Please don’t! So many people have less than those around us. 

Learn how to stop caring about money and you will be so much happier.

We are always chasing after more and not stopping to look around us and be grateful for what we have.

We often fall into the trap of always wanting more: the newest phone, the latest TV, a bigger house.

Being happy with what you have is very freeing. You are free from the constant strive and desire for something you don’t have.

You are free from worrying how you can afford the more expensive option.

Free from having to care about every penny.

Learn how to stop caring about money, enjoy what you have and you’ll stop worrying so much as you’re not chasing after the Joneses.

Money Quote:

“That man is richest whose pleasures are cheapest” Henry David Thoreau

 

young family walking on beach

 

Nurture Your Relationships

Having strong relationships with your partner, family and friends around you will really help you in your quest to learn how to stop worrying about money and start enjoying your life.

Being able to talk about your worries will always make you feel better.

“A problem shared is a problem halved”

Friends and family can often provide nuggets of wisdom that you might not have heard before.

They can share their experiences which you can learn from.

Most people at some point in their lives have worried about money.

Support your friends and family with their problems and they will return the favor.

If you have furry friends, there is nothing better than getting out for a walk or snuggling up on the sofa with them.

Money Quote:

We make a living by what we get, but we make a life by what we give” Winston Churchill

 

You Have Your Health

Worth more than all the money you can earn and some. Without health you have nothing.

You can’t earn money if your health is bad (or worse!)

Money can make your health a little bit better or more comfortable but it certainly can’t buy you good health.

Putting your health first, before money, is a key part of learning how to stop worrying about money.

Worry, stress and anxiety are actually bad for your health. Reduce your anxiety about money, develop healthy habits and incorporate them into your life.

They will help you stop worrying and your health will improve as will how you feel.

 

coin piles and a piggy bank

 

You Can’t Take Your Money With You

You need to spend your money wisely and ensure you have enough for today and your future self.

But there is no point in having 2 million left on your death bed.

Nor is there any point slaving forever to get those millions if you cannot enjoy them because you are too ill or old to do so.

Being totally focused on money means you end up thinking about money all the time, stop!

You need to get a balanced view of what money can do for you.

Stop thinking about money all the time, stop worrying about money and start enjoying your life.

You only get one shot at your life.

Everything in moderation is a great way to view most things in life.

 

How To Stop Worrying About Money And Start Living

Following all or some of these tips really will help you learn how to stop worrying so much.

Money can rule your life when you don’t have enough or don’t have control over it.

Take back control of your money through following these tips and learn to love your life and sleep easy at night.

 

 
pinterest image for how to stop worrying about money

Managing your money is key to not worrying about money and achieving your money goals. Personal finance tips, money saving tips and budgeting tips to help you save money, stop worrying and start living a frugal lifestyle. #stopworrying #moneygoals #finances #savemoney #buildsavings #manageyourmoney #personalfinance #budgeting #frugallifestyle
Managing your money is key to not worrying about money and achieving your money goals. Personal finance tips, money saving tips and budgeting tips to help you save money, stop worrying and start living a frugal lifestyle. #stopworrying #moneygoals #finances #savemoney #buildsavings #manageyourmoney #personalfinance #budgeting #frugallifestyle
Managing your money is key to not worrying about money and achieving your money goals. Personal finance tips, money saving tips and budgeting tips to help you save money, stop worrying and start living a frugal lifestyle. #stopworrying #moneygoals #finances #savemoney #buildsavings #manageyourmoney #personalfinance #budgeting #frugallifestyle
Managing your money is key to not worrying about money and achieving your money goals. Personal finance tips, money saving tips and budgeting tips to help you save money, stop worrying and start living a frugal lifestyle. #stopworrying #moneygoals #finances #savemoney #buildsavings #manageyourmoney #personalfinance #budgeting #frugallifestyle
Managing your money is key to not worrying about money and achieving your money goals. Personal finance tips, money saving tips and budgeting tips to help you save money, stop worrying and start living a frugal lifestyle. #stopworrying #moneygoals #finances #savemoney #buildsavings #manageyourmoney #personalfinance #budgeting #frugallifestyle
Managing your money is key to not worrying about money and achieving your money goals. Personal finance tips, money saving tips and budgeting tips to help you save money, stop worrying and start living a frugal lifestyle. #stopworrying #moneygoals #finances #savemoney #buildsavings #manageyourmoney #personalfinance #budgeting #frugallifestyle

Money Saving Ideas – 11 Things We Refuse to Give Up to Save Money

external front of house covered in hanging baskets

Money saving ideas – 11 things we refuse to do to save money. We are frugal not cheap. Cutting your budget too far is no fun and not good. Get your personal finances in order so you can save money but not be a cheapskate. #moneysavingideas #savemoney #savingmoney #frugal #notacheapskate #budgettips

Are There Any Money Saving Ideas You Refuse to Consider?

There are times in all our lives when we are broke or feel it and need to look for money saving ideas we can incorporate into our budgets.

The more broke you feel the more you look to save your money. But where is your cut off point? Beyond which you refuse to go?

When you have a limited pot of money it’s natural to want to make it go as far as possible. Identifying things that you could give up or do without is one way to save your money. But what would you give up?

Related posts:

15 things we gladly gave up to be mortgage free

10 things I don’t do or buy

 

Follow me on Pinterest for more money saving hints and financial tips!

 

Money saving ideas we refused to do. Saving money is important but not at the expense of living our best life. Find your enough point when finding ways to save money and budgeting tips. #savemoney #savingmoney #budget #tuppennysfireplace #budgeting #finances

 

We could have given up more if we had to or if we had chosen to. But there are times when you say to yourself, nope, that is a money saving idea I refuse to do.

And everyone is different. I know that the idea of giving up eating out every week is a complete no-no for some people whereas that was an easy way to save for us

We didn’t give up buying alcohol, yet perhaps you would drop that in a flash.

What saving tips works for you might not work for someone else. And you may well try dropping things to find out later that actually, no, it’s not something you wish to cut out completely.

It is often trial and error as to what will work for you but to give you a head start here are the money saving ideas that we refused to do.

(This post may contain affiliate links. You can read more here.)

 

Money saving ideas we rejected. Best budgeting tips for a frugal lifestyle not a cheapskate one. Get your personal finances in order so you can save money and achieve your money goals without giving up everything. #moneysavingideas #savemoney #savingmoney #frugallifestyle #budgeting #moneygoals #personalfinance

Money Saving Ideas –11 Things We Refuse To Do

 

2nd Car

We have 2 vehicles which we both use to get to work each day. There have been times when I have needed my car because my offices have been miles away in areas where there is no public transport.

But for the past 3 years I have worked 5 miles from home. It’s only 5 miles so in theory I could cycle there without breaking a sweat. Except there is a massive hill at the end of the journey.

Which means I’d have to tackle it every evening after a very long day at work. It’s not a small hill, it’s the hill that takes you down to sea level (I’m near the coast) so think sea cliff size. Very, very few cyclists get up it.

Still an excuse I know, if I was truly frugal I’d cycle/walk that hill. There is a bus I could jump on which would get me to work in about 30-40 minutes. But I drive instead and it takes me 15 minutes.

If we were really broke I could do without that car. But having the car makes my life easier. I can get to and from work whenever I want.

I can go and see DD1 and the grandbabies easily (10 miles away). I can get out in the evenings (buses stop at 9pm) and get to places that the bus doesn’t visit. Some of these I could cycle to but not all.

 

 

Rice and Beans Diet

Your grocery bill could be high or it could be low. It all depends on what you eat and how much you eat. If you are on a really tight budget you could eat rice and beans every day.

This is one money saving idea that could save you hundreds. But there is no way I could eat the same foods every day, week in week out.

Mr2p doesn’t even like the same type of food two days running so rice and beans more than once, for him, is a complete no-no. I can and do eat the same packed lunch when at work.

I do this to save time and because I deem myself lazy. Much easier to not have to think about different lunches as well as everything else when I am shopping.

However I can eat the same lunch because I know I’ll be eating something different and scrumptious for dinner. I look forward to my dinner every day because I keep my lunches simple.

 

Money saving ideas – 11 things we refuse to do to save money. We are frugal not cheap. Cutting your budget too far is no fun and not good. Get your personal finances in order so you can save money but not be a cheapskate. #moneysavingideas #savemoney #savingmoney #frugal #notacheapskate #budgettips

Do Without the Heating

I’m all for lowering your utility bills where possible and I gave up using a tumble dryer a long time ago. But doing without central heating in the winter is a frugal step too far for me.

Some people keep their houses at a wintry 12c but that is coat and hat temperature for me.

I challenge myself to keep the heating off until the 1st of November every year which is very much dependent on whether October is frosty or not. Once the thermostat shows 16c I give in.

I am not prepared to wear hats, coats and scarves in the house to keep warm. One of my money saving ideas which I still use today is to have a blanket which I snuggle under most evenings in the winter.

This frugal habit helps keep the heating bill down but doing without altogether is not happening in the Tuppenny household!

Related post: How To Keep Your House Warm and Your energy Bills Low This Winter

 

Give Up Holidays

When money is tight the annual expense of a family holiday can seem like an easy win if you cut it out. But often that holiday is your one chance to get away from all the stresses of life, of living on a budget and fully relax.

You won’t be able to relax if you are going into debt to pay for that holiday yet not going on holiday isn’t necessarily relaxing either. We tried not having a holiday away but only lasted one year.

Problem was we couldn’t afford a holiday abroad. The flights and accommodation for 4 people during school holidays are super expensive.

We saved money by camping in the UK on the cheaper camp-sites which didn’t have a huge range of facilities. We cooked for ourselves most nights rather than eating out whilst on holiday and looked for free things to do.

Related post: 5 frugal tips to save money on long car journeys

 

Beige/Processed Food As Our Staple Diet

Your grocery budget is one area that you can make some big savings. We keep our grocery bill down by buying carefully. But I know we could get it lower if we ate different foods.

White bread, white pasta, white rice are all cheaper than the wholemeal equivalent. Vegetables are more expensive than processed beige food.

But a wholesome diet is key to good health. Saving money at the expense of our health is not something we are prepared to do.

We are not perfect, our diet is probably 80-90% healthy but it would be much less so if we dropped the veg in favor of a cheaper, carb laden, processed alternative.

Related post: 21 benefits of growing your own food

 

Money saving ideas – 11 things we refuse to do to save money. We are frugal not cheap. Cutting your budget too far is no fun and not good. Get your personal finances in order so you can save money but not be a cheapskate. #moneysavingideas #savemoney #savingmoney #frugal #notacheapskate #budgettips

Shampoo

Some people swear by the ‘no-poo’ scenario for their hair. I understand the principle that after so many weeks/months your hair sorts itself out and is shiny and gleaming.

But I cannot go through those weeks/months of waiting.

Until recently I worked in a position of authority with the public every day. I couldn’t take myself seriously if I was presenting myself with greasy, dirty hair so how would the public have felt?

I applaud those who get through the waiting phase but it is not for me. A daily hair wash for me, with shampoo.

 

Soap

Using soap in my daily shower makes me feel clean. I don’t need a huge lather, just enough to wash quickly, given my showers are always cold. Yet some people swear by skin brushing and water as all you need to clean your body.

I accept that our skin may very well only need water and a brush/scrub but mentally this doesn’t feel right to me. Soap bars are pretty darn cheap so this is one money saving idea I have not embraced.

 

Intentionally Forget to Pay Back Money

I’ve borrowed money from family when I was younger and didn’t have a rainy day fund to help pay for an unexpected emergency.

But I kept a note of what I borrowed and how much I owed and could always recite the latest figure if asked. To the point where my parents didn’t keep the tally, I did because they knew I would.

I couldn’t put my family in the position of being on the back foot and having to ask for their own money just because they were kind enough to lend it to me when I asked.

There are plenty of money saving ideas but this is not one of them in my book.

 

Money saving ideas – 11 things we refuse to do to save money. We are frugal not cheap. Cutting your budget too far is no fun and not good. Get your personal finances in order so you can save money but not be a cheapskate. #moneysavingideas #savemoney #savingmoney #frugal #notacheapskate #budgettips

Gift Giving

Just because I am always looking for ways to save money doesn’t mean I am not going to give wedding gifts or contribute to colleagues leaving presents.

Especially where they have contributed to gifts for me in the past. This is an area where you can save your money by identifying what your budget will be and sticking with it.

You can reduce your gift giving by agreeing with family who you will buy for and what the budget is in advance.

Related post: How To Save For Christmas? 6 Easy Steps To Debt Free Festivities

 

Not Returning Favors

I think we probably all have that one friend who never seems to pay their share of the bill. Who always orders an extra starter and the most expensive main but then wants to split the bill equally.

Or who always has to leave early just as it’s their turn to buy a round of drinks. This isn’t a money saving idea, it’s being cheap at the expense of others.

It means others end up paying more just so that person can save a few quid. Not something I am prepared to do at all.

 

Cheapest Toilet Roll

Confession – I did actually buy the cheapest toilet roll when we were looking at money saving ideas to help pay our mortgage off. And yes it did save money and yes we did do it for a short while.

But no, I couldn’t keep it up. The cheapest toilet paper is just too thin and too rough. I’m not looking for a full on cushion experience when I go to the loo. But I do want an element of comfort!

So although we did save money by buying the cheapest, we stopped buying it and would never go back.


 

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Money saving ideas we refused to do. Saving money is important but not at the expense of living our best life. Find your enough point when finding ways to save money and budgeting tips. #savemoney #savingmoney #budget #tuppennysfireplace #budgeting #finances

 

 

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Money saving ideas we refused to do. Saving money is important but not at the expense of living our best life. Find your enough point when finding ways to save money and budgeting tips. #savemoney #savingmoney #budget #tuppennysfireplace #budgeting #finances
Money saving ideas we refused to do. Saving money is important but not at the expense of living our best life. Find your enough point when finding ways to save money and budgeting tips. #savemoney #savingmoney #budget #tuppennysfireplace #budgeting #finances
Money saving ideas we rejected. Best budgeting tips for a frugal lifestyle not a cheapskate one. Get your personal finances in order so you can save money and achieve your money goals without giving up everything. #moneysavingideas #savemoney #savingmoney #frugallifestyle #budgeting #moneygoals #personalfinance
Money saving ideas we rejected. Best budgeting tips for a frugal lifestyle not a cheapskate one. Get your personal finances in order so you can save money and achieve your money goals without giving up everything. #moneysavingideas #savemoney #savingmoney #frugallifestyle #budgeting #moneygoals #personalfinance
Money saving ideas we rejected. Best budgeting tips for a frugal lifestyle not a cheapskate one. Get your personal finances in order so you can save money and achieve your money goals without giving up everything. #moneysavingideas #savemoney #savingmoney #frugallifestyle #budgeting #moneygoals #personalfinance
Money saving ideas we rejected. Best budgeting tips for a frugal lifestyle not a cheapskate one. Get your personal finances in order so you can save money and achieve your money goals without giving up everything. #moneysavingideas #savemoney #savingmoney #frugallifestyle #budgeting #moneygoals #personalfinance

How To Kickstart Your Rainy Day Fund When You Are Broke

small treasure chest with euros in it and under it and various coloured coins

small treasure chest with euros in it and under it and various coloured coins

Is your rainy day fund all dried up? Hoping you don’t have a financial emergency because you’re broke?

Do you have money set aside for an emergency? Money you call your rainy day fund, not to be touched unless in a dire emergency? Or are you hoping you don’t have an emergency just yet as you don’t have the money to cope with one?

Emergencies happen when you least expect them. Just look at the accident and emergency department in your local hospital, the people there weren’t planning on having their accident/illness.

It’s the same with your money. You can plan all you want but life will throw you a curve ball and you need to be prepared when it does. Because it will at some point.

 

What is a rainy day fund?

A rainy day fund is your pot of money for when life throws you that curve ball and you need money fast. Money that you hadn’t planned on spending and is on top of your usual bills.

If you spend everything you earn each month not having any emergency money will hit you hard. But you can plan for emergencies by having a rainy day fund even when you feel broke.

 

What’s your emergency?

Emergencies that cost money always cost more than a few quid so you can’t always pay for them out of your regular pay check. Not being able to cover an unexpected bill can be the cause of sleepless nights for people and increases your stress levels.

Emergencies could include:

  • a large vet bill
  • urgent car repairs
  • the tax man sends you a bill
  • new car
  • unexpected funeral at the other end of the country
  • losing your job

 

What it isn’t

There will be times when you want to spend money but haven’t got any left. There may be times when people are really encouraging you to spend money because you apparently deserve it.

Just remember you deserve to sleep well at night and that is what your rainy day fund will do for you.

  • Going out for a meal because your best friend invited you
  • Paying for a holiday on the premise you’ll add the money back
  • Covering the last week of the month because you ran out of money

These aren’t emergencies, they are either bad choices or bad budgeting. Your money will only stretch so far and today it needs to be focused on building your emergency money.

You can pay for a holiday once you’ve got your rainy day fund in place.

 

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How to build your rainy day fund. Saving money ideas to help you stress less about your money goals. An emergency cash stash covers your unexpected bills and helps you manage your money and your finances. #emergencyfund #rainydayfund #savemoney #stressless #finances #personalfinance #savingmoney #budgeting #budget #savecash

How to kickstart your rainy day fund when you are broke

 

A positive mindset

If you’ve never saved any real money before or have lurched from paycheck to paycheck it would be very easy to think that saving $/£1000 is an impossible feat. If you think like that it will be impossible.

Be positive! Know that it can be done, that you can do it and you will make it happen. Having a positive mindset helps you get over the difficulties life throws at you and achieve your goals.

Having a rainy day fund is a financial goal you can achieve.

 

How much?

Decide what is a starting point for your fund. Many people suggest £/$1000. Longer term you may want to build your pot further to cover 3-6 months worth of living expenses.

Having a larger rainy day fund will help you with longer term costs such as losing your job, an unexpected pregnancy or ill health.

But if you have no emergency money put aside then start with £/$1000 as this is easily achievable in the short term.

  • Save £/$32.25 a day for a month
  • Save £/$16.12 a day for 2 months
  • Save £/$11 a day for 3 months

And you will have saved £/$1000.

 

Set your budget

You need a budget for your living expenses. Work out what all your bills and outgoings are then decide on how much you are going to set aside to build your rainy day fund.

Find ways to save some money, cut out treats, a meal out or new clothes until you have your fund built. This is an emergency – you need a rainy day fund so find room in your budget to free up the cash.

Related reading: 25 tried and tested money saving tips

 

Do a house check

How many times have you found loose change in various places when you didn’t know it was there? Kitchen drawers are a classic place for me to find cash. Other people swear by the back of their sofa.

Every penny helps so check your house for loose cash and keep that money safe.

 

close up of glass vase on its side with hundreds of small bronze coins spilled out

Pay yourself first

Don’t wait until the end of the month to see what money you have left over to put into your rainy day fund. Pay into your fund as soon as you receive your wages.

This is emergency money and therefore vitally important to your financial well-being. You (and your future emergency) comes first. Pay yourself first.

Related reading: The Easy Way To save Money – 15 tips to save $14,000 a year!

 

Make it automatic

Set up your payment so it leaves your account as soon as you are paid, automatically. Don’t rely on yourself transferring the money, at some point. Automate and forget.

 

Make it accessible

You will want your emergency money to be very accessible, as in a few hours. Selling your car to free up cash does not constitute an emergency fund. Nor should you be putting your rainy day fund into the stock market.

A jar in your kitchen might be too much temptation so a separate savings account may be best, make sure it’s an instant access account. Do what works for you.

 

Don’t make it too accessible!

Now I know I said make it accessible but don’t get an account where you have a debit card for it. If necessary, cut the debit card up.

You don’t want to mistakenly use the debit card on this account nor do you want the temptation when you are out shopping.

 

Sell stuff

If you haven’t recently had a good clear out of your cupboards, now is the time to do so. Selling your stuff to build your emergency money is a great way to build it painlessly.

We are all guilty these days of having too much stuff and not using most of it. Making some cash from your stuff is a great way to declutter as well.

 

close up of piles of bronze coins

Make money

A great way to get your rainy day fund built in record time is to earn more money.

You might be able to pick up extra shifts at work but if you’re like me and have a regular job with regular hours then you’ll need to look elsewhere for the cash.

There are plenty of ways to earn extra money, you could:

Related reading: 

41 Awesome Hobbies That Can Make You Money Right Now

27 easy ways to create more time for a side hustle

 

Give yourself time

If you’ve never had a rainy day fund before, don’t demand of yourself that you build one in a month. Don’t set yourself up to fail. Baby steps are good and are better than no steps.

Every penny you save is a penny you didn’t have saved before. If it takes you 3 months to build £/$1000 so be it. In 3 months time you’ll have your rainy day fund – wahoo!

 


 

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The Easy Way To Save Money – 15 Tips to Save $14,000 a Year!

The easy way to save money - 15 tips to save $14,000 A Year! These tips and money hacks will show to how to save money better, pay off debt and create a money saving plan. 15 money saving ideas to help you plan your money budget and save your money. #money #savemoney #financetips #savingmoney #budgeting #budgetttips #moneyplan #moneybudget

The easy way to save money - 15 tips to save $14,000 A Year! These tips and money hacks will show to how to save money better, pay off debt and create a money saving plan. 15 money saving ideas to help you plan your money budget and save your money. #money #savemoney #financetips #savingmoney #budgeting #budgetttips #moneyplan #moneybudget

Do you have more month than money? Need a money savings plan?

Saving money can be tough, when what you actually want is an easy way to save money.

We are surrounded by adverts, social media and people who are all encouraging us to part with our cash.

Indeed the encouragement is spend more than we earn and bung the rest on your credit card (don’t do it!).

If you are thinking “how can I save money?” then you’ve come to the right place.

Some of your monthly outgoings will be fairly fixed (e.g. rent or home loan) so your flexible spending is where you can really start saving money.

There are so many money saving ideas, whether that’s a few pennies or mega bucks and it all starts with you.

If you want to start saving money then you will. Just follow some or all of these money tips and see how much you will save.

Do not save what is left after spending. Spend what is left after saving – Warren Buffett

 

The Easy Way to Save Money – 15 Tips

 

Pay Yourself First

Any how to save money each month guide should start with this.

The most important starting point in your money journey is to pay yourself first and remove the money from your bank account as soon as you get paid.

Paying yourself first is about your financial goals, your future and your retirement.

If you don’t pay yourself first then your ability to save your money will be reduced as you will spend the money in your account.

Very few people can save decent money every month when it’s sat in their everyday account.

If your money saving plan is for £200 a month then set up a standing order for that amount.

Potential savings £2400/$3120 a year

Further reading: How to choose the best cash savings account

 

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Kill your speed

Owning and driving a car is a costly expense but often a necessity.

There are still ways to save your money and not speeding is one of them.

Those mpg figures in your car’s handbook are not based on you driving around town in the rush hour, nor are they based on you hacking it down the motorway at 70mph.

They are based on a very deliberate way of driving to eke out the absolute best miles per gallon figure.

Driving sedately at 50mph, not accelerating fast or constantly using your brakes will all help you get a better mpg score.

And a better mpg means your money goes further and your fuel lasts longer.

Potential savings £120/$160 a year

Further reading: 5 frugal tips to save money on long car journeys

 

Don’t Let Insurances And Annual Payments Auto Renew

Everyone needs insurance but that doesn’t mean you can’t save money.

Insurance companies are always competing for new customers so to auto renew with your existing company means you can be paying over the odds.

Always compare and price check house and car insurances.

I can usually save up to £100 on my house insurance renewal price and £50 on car insurance by comparing other companies.

I sometimes stay with the same company because they are willing to price match if I call them and ask.

Pet insurance is a bit of an anomaly as existing conditions becomes a problem if you switch insurer so I personally have never switched this.

Potential savings £150/$195 a year

 

Follow me on Pinterest for more money saving hints and financial tips!

I love how these 15 brilliantly easy money saving tips will help me manage my money and save more. Achieve your money goals with these budgeting tips and frugal living tips. #personalfinance #savemoney #savingmoney #moneysavingideas #moneysavingtips #budgeting #frugalliving #frugal

I love how these 15 brilliantly easy money saving tips will help me manage my money and save more. Achieve your money goals with these budgeting tips and frugal living tips. #personalfinance #savemoney #savingmoney #moneysavingideas #moneysavingtips #budgeting #frugalliving #frugal I love how these 15 brilliantly easy money saving tips will help me manage my money and save more. Achieve your money goals with these budgeting tips and frugal living tips. #personalfinance #savemoney #savingmoney #moneysavingideas #moneysavingtips #budgeting #frugalliving #frugal I love how these 15 brilliantly easy money saving tips will help me manage my money and save more. Achieve your money goals with these budgeting tips and frugal living tips. #personalfinance #savemoney #savingmoney #moneysavingideas #moneysavingtips #budgeting #frugalliving #frugal

 

Increase Your Insurance Deductibles

When you shop around every year for your car and house insurance make sure you check the price differential depending on what your deductible/excess is.

The higher this is the lower your premium will be.

You are taking a calculated gamble on whether you will need to claim on your insurance and if so whether the money you saved in having a higher deductible is off set by the lower premium.

I increased our house insurance excess and saved £50 on the annual premium which was already very competitive.

I know we rarely claim on it so saving money every year was worth the risk of paying out an extra £200 if we did have to claim.

Additionally if we did end up claiming, our premium would have gone up anyway so we’re not going to make any small claims.

Potential savings £100/$130 a year

 

Unsubscribe From Promotional Emails

Every time you shop online the store you are buying from offers to keep you informed of the latest news and exclusive sale deals if you hand over your email to them.

Yes they do offer sale deals but no, you do not need them.

If you don’t get the email, you are not tempted to buy an item that until then you didn’t know you wanted.

Out of sight, out of mind really does work. If you want the item, you’re going to research it anyway and will find the best price that way.

If you buy one item less this way then that’s a super easy way to save money – don’t receive an email and don’t spend money!

Potential savings £600/$780 a year – or much more!

 

Window Shop Online

When you are out shopping it’s very easy to end up popping into a few extra stores to check out their latest range and bargains.

Problem is you end up buying stuff! Even if it’s just a few pounds/dollars at your local cheap store it all adds up. The answer is, don’t go in.

Save your money by not browsing these stores in the first place. Browse online instead.

When I browse online I also have the rule of never buying anything the same day I look at it. If I need it I can come back to it another day.

This is such an easy way to save money as I can guarantee you won’t buy half the items you find online.

Amazon is my go to browsing store and I have a wish list that is constantly changing. Because I add items one day and delete another!

Potential savings £600/$780 a year

Further reading: What fabulously frugal people NEVER do

 

Pack Your Lunch

This is probably the classic easy way to save money and I am sure you know it, but do you do it every day/week?

Prepping and taking your lunch every day can help you save money for a few minutes of work each day.

If it takes you 10 minutes to prep your lunch and you save $5 each day then that’s the equivalent of $30 an hour!

Packing your lunch whether for work or a day out keeps you in control of your spending, your health and the calories you consume.

Potential savings £1200/$1560 a year

Further reading: 25 tried & tested money saving tips

 

Eat Out Less

I can’t write about how to save money each month without mentioning eating out!

This is a big money suck as you can easily drop £50 on a meal out and that’s not for an upmarket restaurant.

Eating out costs you money but it also costs you time.

In the time it takes you to drive to a restaurant, chose your menu and wait to be served, you could cook up a fabulous, wholesome meal for a fraction of the price.

If you are eating out once a week reducing this to once a month will reward you with big savings.

Potential savings £1800/$2340 a year

 

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Plan Free Days Out In Your Local Area

Having kids can be expensive if you chose costly entertainment.

Even if you don’t have kids then entertainment can quickly mount up into a sizable expense.

Going to the movies as a couple will set you back £40 once you add in popcorn, drinks and parking fees.

Don’t limit yourself to paid forms of entertainment, search your area for free things to do. This could be

  • museums
  • painting pebbles found on the beach (adults as well)
  • walk in the park
  • day out at the beach or lakeside
  • volunteering e.g. litter pick your local park (great for the environment and feel good factor)
  • games in the garden
  • seasonal activities put on by your local council

Potential savings £1200/$1560 a year

Further reading: What fabulously frugal people ALWAYS do

 

Cancel Your Gym Memberships

I think we have all probably paid for a gym membership at some point in our lives. Unless you are a gym bunny and regularly go every week, every year, this is an easy way to save money.

Even if you do regularly attend you can still save money here. Why not buy your favorite piece of gym equipment and work out at home?

You’ll save on the gym membership, fuel costs to get there and have more flexibility as to when you work out.

Pick up your gym equipment from Ebay or craigslist, no need to buy new!

Potential savings £360/$470 a year

 

Cut Cable Or Reduce To Basic

In the UK we have freeview so in theory there is no reason to pay to watch TV.

In practice many people pay for some form of subscription service whether its cable or satellite TV.

Cable packages that include everything can easily hit £100 a month. Switching to freeview only is another one of the easiest ways to save money.

Disclaimer – in the Tuppenny household we still have basic cable. Mr2p loves conservation, gardening and DIY programmes and dislikes boxsets.

Freeview doesn’t give him his favorite programmes so for marital harmony the cable stays.

But for those of you without a Mr2p you can save money cutting cable!

Potential savings £1200/$1560 a year

 

Magazine Subscriptions

When I was young and didn’t know any better I used to buy magazines every month.

I thought I was financially savvy when I got them on subscription – because I was saving money right?

But I was still spending money and when you need to save money, subscriptions are an easy win.

These days everything in magazines can be found online for free so why not save your money and cancel your subscription?

Potential savings £30/$39 a year for one magazine

 

Switch Mobile Phone Plans

Depending on where you live you can save big bucks by switching your phone plan to a sim only or pay as you go contract.

We currently pay DD1’s phone bill and the contract she was on (yes we fell for that one) was going to renew at £36 a month.

Staying with the same provider, we got a monthly sim only contract for £12.

More data than she’ll ever use (I checked her usage) and unlimited calls and texts.

Potential savings £288/$380 a year

Further reading if you are in the US: Cricket Wireless review – better service for half the price

 

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Hairdresser

I get that looking good can be a big part in how you view yourself but spending £80 a time at the hairdresser is not the reason you look good.

You look good because you hair is well kept but this doesn’t have to cost you a lot of money.

Cutting your own hair is an easy way to save money, you get to learn a new skill and still look good.

Mr2p has cut his own hair for 20 years and mine for the past 10.

Potential savings £360/$470 a year

Further reading: 10 things I don’t do or buy

 

Do Your Own Nails

50 years ago having your nails done was a luxury and involved having them filed and painted.

These days it’s seen as an everyday expenditure and involves having an hour long appointment at a nail bar along with nail tips, shaping, color and additional gems or artwork applied.

And then you need repeat appointments to keep them in tip top form. This all adds up to a fair chunk of money.

One way to save your money is to go without. If that is too big a step, then why not do your own nails?

With practice you should be able to give yourself a nice set of nails for a fraction of the price.

Potential savings £400/$520 a year

 

Bonus Tip – Save Every $1 Dollar Note Or £1 Coin For A Year.

We’ve all grown up with and used piggy banks but once you get your first bank account your piggy bank is pretty much redundant.

You can set up a standing order for money to be whisked off to a savings account.

But why not also have a piggy bank or money saving jar to put change in?

If you want an easy tip on how to save money each month then save every $/£1 you receive in change.

It can mount up to a nice little sum without any effort. We do this every year starting in January and always have at least £200 by Christmas.

Potential savings £200/$260 a year

I hope you save some money with these 15 tips!

 

 

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5 Frugal Tips to Save Money on Long Car Journeys

5 frugal tips to save money on long car journeys. Read these tips to see how you can save money and budget for a road trip or holiday. Save money on fuel, food and drinks with these frugal tips. #frugal #savemoney #budgeting #roadtrip #carjourney

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Save Money On Your Road Trips, Have More Money To Spend When You Arrive

I don’t know about you but I used to dread long car journeys. It wasn’t just the boredom of mile after mile of motorway or hour after hour in heavy traffic.

It was the money we would spend just getting from home to holiday. The feeling we were leaking money on the least enjoyable part of our holiday.

I’m all for spending money (wisely) whilst on holiday.

Having saved up you want to be able to enjoy your holiday by buying what you need and maybe a fair few wants thrown in.

But do you want to spend a whole pile of money just getting to your holiday destination?

Obviously if you love stopping off at the motorway service station and paying an absolute fortune for your fuel there, then fill your boots.

Alternatively use these tips and tricks to save money and have a more enjoyable start to your longed for holiday.

Want to know more about the frugal life? Read all about how Fabulously Frugal people live their lives:

What Fabulously Frugal People ALWAYS Do To Organise Their Finances

15 Things Fabulously Frugal People NEVER Do Organising Their Finances

7 Simple Tips of Fabulously Frugal People to Live a GREAT Life

 

 

5 Frugal Tips to Save Money on Long Car Journeys

(This post contains affiliate links. If you click on a link and make a purchase, I may make a small commission at no extra cost to you. You can read more here)

Hydration

When you are on a long car journey it’s important to keep your fluids up especially if its a hot day.

Bring your own delicious coffee or tea in a travel flask to keep it hot. You know exactly how you like your tea and who wants to pay £2.50 for one tea bag?!

I’ve used this flask for 6 years, daily at work and on every walking trip. It keeps my tea super hot for hours.

If you’re not organised and rely on buying drinks at the motorway service stations you can easily spend £10 or more just for 4 drinks.

If you buy yourself a cold drink it will be in a plastic bottle.

We are all trying to do our bit for the environment these days so bring your own cold drinks in reusable bottles.

Drinking a good amount of liquid also helps to ensure you stop regularly to take a comfort break.

As a driver you need regular breaks so drink your home brought drinks and keep yourself safe.

 

Follow me on Pinterest for more money saving hints and financial tips!

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Healthy Food

I don’t know about you but I find long car journeys boring. And when I am bored I eat.

Given you are sat down you’re not exactly burning the calories so eating more than you would normally is not a good thing.

The food available in service stations is better than it used to be but it is still mainly fast food.

 Fast, unhealthy, highly calorific food. And expensive. You can easily walk away £20 lighter and a 1000 calories heavier.

If you are wondering, I am writing this on the 2nd day of a diet so am just a little bit obsessed about calories!!

Bring your own food with utensils if necessary. Take a proper break at meal time.

Park up, get out and stretch your legs and sit down (in the car or on a picnic blanket) to a home prepared meal.

I often make up a fruit salad as an extra snack which we can all dip into with our forks.

 

Route Planning

Plan your route to avoid costly toll roads. I made the mistake once of not planning our route to The Lake District and we ended up on the M6 toll road.

£5.90 might not seem a lot but it was a completely unnecessary expense.

I have found that the road signs seem to deliberately lead you onto the toll roads.

It’s often difficult to work out where the alternative road takes you from the signs.

This can be especially true if you are driving in another country.

 

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Off Peak Travel

Travelling in peak times and the rush hour can put a serious dent in your fuel consumption.

Driving through heavy traffic is boring and tiring and your wallet takes a hit from using extra petrol.

Planning your journey time to avoid the worst of the traffic allows you to get the best mileage from your fuel tank and it’s a more enjoyable experience.

When we drive up to the Lake District looking for our forever home we leave around 6am.

We are on the south coast so the motorways between us and Birmingham are chock full of traffic by 7.30am.

Getting past the worst motorways means we are ready for a break just as the traffic hits its peak.

That’s a great time to have breakfast and stretch our legs for a little.

 

Fuel Price Premium

If I ever have to fill up with fuel at a motorway service station I feel like I’ve been robbed.

The price difference between that and our local petrol station is staggering.

Last time I price compared I found a difference of 24p per litre. That’s £1.08 per UK gallon.

Filling up the night before you go means you can drive up to 600 miles before you need to refill.

That should get you most places in the UK as long as you haven’t been stuck in traffic for hours.

If you do need to fill up along your journey then use a fuel price finder to get the best deal.

It will mean coming off the motorway but combining it with a comfort break means you get to stretch your legs somewhere potentially a little more pleasant.

And save money on your fuel fill up at the same time.

Use PetrolPrices.com or Confused.com to find cheap prices wherever you are in the UK.

 

Long Car Journeys Made Cheap

To save even more money make sure any spending you do is on a cashback credit card.

And why not try driving for optimum fuel efficiency? 

Its a different way of driving and takes a little getting used to, both for the driver and passengers.

Getting 20% more miles out of your fuel tank is a great saving whether you are doing long or short distances.

Mr Money Mustache calls it hypermiling and he summed up the driving style as:

If you have to brake you’ve made a mistake

Using these 5 frugal tips will help you save money and arrive at your holiday destination in a better mood.

There’s nothing like saving money to make you feel good!

Do you have a travel tip to share? Have you tried hypermiling or singing the MMM song if you hit 75mph?

 

 

I’m taking part in the Monday Money linky with Lynn from Mrs Mummy Penny and Faith from Much More With Less.

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Such simple tips that will help me save money on my travels. Great frugal living tips and ways to save money on your car journeys and frugal holidays. #budgeting #roadtrip #carjourney #frugallifestyle #savingmoney #frugaliving
Frugal living tips and ways to save money on your car journeys and frugal holidays. Manage your money in the frugal way to stretch it further. Frugal lifestyle tips. #frugal #savemoney #budgeting #roadtrip #carjourney #frugallifestyle #savingmoney #frugaliving #frugaltips
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How to choose the best savings account for your money

How to choose the best savings account for you. Find out which account is best for your savings. #savemoney #savings

How to choose the best savings account for you. Find out which account is best for your savings. #savemoney #savings

Having started saving you want to put it to work gaining interest but where’s best?

You have savings!

So you have worked out your budget and intend to save something every month but where do you put it?

What is the best savings account for your money?

It’s not going to be saved if you leave it in your every day bank account, been there done that as I am sure you have!

It can be difficult enough to make changes to start saving.

Then you realize you’ve got more work ahead of you trying to find the right place for those savings.

Where do you put them, which account and what do you need to think about?

For me, I like to keep things simple, the more complicated things get the less likely I am to do it.

 

What’s the choice?

Let’s presume you have £100 a month you want to save, the choices are endless:

  • Your main current account
  • Savings account with your current bank
  • Savings account with another bank
  • Cash Individual Savings Account (ISA)
  • Regular savings account
  • A piggy bank
  • Under the mattress

On one level, it really doesn’t matter where you put your new savings, the most important thing is that you do save.

However, let’s be realistic, you are unlikely to grow your savings easily with some of the choices above.

 

Follow me on Pinterest for more money-saving hacks and financial tips!

How to choose the best savings account for you. Find out which account is best for your savings. Savings account for you. #savemoney #savings

Your current account

Believe me, you want to see your savings grow, to watch the number slowly get bigger.

You are not going to get that by leaving it in your current account.

It is highly likely that you won’t save at all as it will get swallowed up in your account and get spent.

 

Savings account with your current bank

A good choice, you already have a banking relationship with them.

It is probably the easiest account to open online as you are unlikely to need to provide ID proof or even type in your name, address.

You should be able to see this account alongside your current account when you log on to your online banking. You can open a single or joint account.

Interest rates on standard savings accounts don’t tend to be as good as you can get elsewhere though.

 

Savings account with another bank

Another good choice and very easy to open online. You may be able to get a better interest rate on your new savings than that offered by your current bank.

You’d need to complete an online application which will involve typing in name, address etc.

You might need to provide ID proof although often this is done digitally online, as long as you can provide details of your passport or driving licence.

Occasionally you might need to upload a photo of your ID (it’s secure), it depends on the bank and their own processes.

Don’t let this put you off though as I promise it is pretty straightforward. You can open a single or joint account.

 

Cash Individual Savings Account (ISA)

Cash ISA’s are tax free so you keep all of your interest and don’t get taxed on it or even have to declare it to HM Revenue & Customs if you are self employed.

However interest rates are not great and if you are a basic or non-taxpayer you can now earn up to £1000 in interest tax free on normal savings accounts anyway. 

Being tax free is not a great selling point for most of us who have ordinary wages and small savings.

Opening a cash ISA is pretty straightforward.

Similar to a savings account with another bank but you also have to provide your national insurance number. Accounts can only be in individual names, no joint accounts.

 

Regular savings account

These can be opened in the same way as other savings accounts but can have a couple of strings attached in order to get the higher interest they usually offer.

For example you might only be allowed one withdrawal per year or you might have to pay in a minimum of 11 monthly payments.

Some regular savings accounts are very flexible though so definitely worth you looking at.

Your main bank may offer a regular saving account (mine does) which would make opening and operating the account very easy.

How to choose the best savings account for you. Find out which account is best for your savings. #savemoney #savings

 

Put it in a piggy bank

Now I love a good looking piggy bank like many people and they can serve a purpose.

But I am not convinced they are the right place for your new savings in this instance.

The main concern I have with piggy banks is they can be just too tempting to dip into with a promise to yourself that you will replace the money, and more, on your next pay day.

Also you can’t see your savings grow, although this could be a good thing.

I think it can be important to see your total going up each month as an encouragement to keep going.

 

Put it under your mattress

This doesn’t even have the good looking appeal that a piggy bank offers so let’s just say no!

 

Best savings account for you

Once you’ve decided which type of account you want you then have a few more things to consider:

  • Who is offering the best interest rate?
  • Are you happy with online only access?
  • Do you want a branch account you can visit?
  • Are there any strings attached to the accounts you have short-listed?

Interest rates are so low at the moment that every extra ½%  you can get is worthwhile and will give you a little more money at the end of the year.

Don’t do the hard work of finding the best interest rates yourself, there are websites that provide you with the latest information.

My favorite place to look is Moneysavingexpert. They have articles on the best accounts including regular savers, cash ISAs and even App based savings accounts.

You can also search for best buy tables and the latest rates at Moneysupermarket.

 

Actions speak louder than words

Once you’ve decided where to save your hard earned money (remember, not the piggy bank!) you can crack straight on with opening the account.

You can have your account up and running within a few minutes, depending on how fast you type and which account type you choose.

That’s the easy part done and dusted.

The harder part is saving each month and not dipping into those savings.

Yes, that’s right, the idea of saving is to build up the savings, not to spend last months savings this month.

The best savings account for your money is one that you will use to build up savings, not spend from every month.

Unfortunately it took me a little while to work that one out. But it is so worth it when you see your savings build up month on month.

The longer you can go without touching those savings the stronger you will be at making the savings, win-win.

How to choose the best savings account for your money. Understand the different saving account options. #savemoney #savings

 

Get creative

If you are really keen you can have more than one savings account, most banks let you have more than one savings account with them.

You might find it helpful to have say two accounts, one for your general savings fund and one for Christmas and birthday presents. Some people have 5 or more.

They split their savings into clearly defined pots so they knew what savings goals they are working towards and how far they have to go to reach them.

Most banks let you name your accounts as well so you know when you log on that you are looking at your Christmas fund.

This can make it a little easier to not dip into those savings.

The most important thing is to open a savings account that works for you and use it.

Now you have opened your savings account you need to get your savings into that account every month.

The best thing you can do is to set up a standing order from your main current account into the savings account.

Set it for straight after you get paid, whether that is monthly or weekly.

Don’t wait to see whether you end up spending all your wages, you know you will if you leave the cash in your account.

 

Out of sight, out of mind

Pay your future self first is a way of looking at it.

The savings you want to make are for your future self whether that is next Christmas or you in the longer term.

Get the money out of your current account and away from temptation.

Your future self will not appreciate you spending all your money now when you had great plans in the future for that money.

 

Keep the money habit going

Try not to look at your balance in the early months until your regular savings has become a habit.

As the weeks/months go past and you don’t dip into your savings, you will feel stronger and more able to resist the urge to spend what you have saved.

If you feel you are wavering, just take a few minutes to think about why you set up your savings in the first place.

For Christmas? If you spend now you won’t have the cash at Christmas.

For your early retirement fund? You can’t retire and live on fresh air so you’ve got to ring fence those savings.

If you think you will be tempted to dip into your savings, open a regular savings account.

These often have strings attached meaning you must save every month a minimum amount.

You are also often limited in the number of withdrawals you can make.

If you exceed the withdrawals either the account gets closed or you lose the better rate of interest.

You don’t want to go through the pain of opening an account only for it to be closed just because you were weak and dipped into it.

If you are aiming for early retirement you are going to need to save hard for a long time and not rely on just savings accounts.

But savings accounts get you into the saving habit.

Once you have that habit then you will be ready to branch out further into investments and pensions.

This post explains why you should not opt out of your workplace pension.

Don’t delay, open that account today!

 

 

I’m taking part in the Monday Money linky with Lynn from Mrs Mummy PennyFaith from Much More With Less and Emma from EmmaDrew.Info

How to choose the best savings account for you. Find out which account is best for your savings. Savings account for you. #savemoney #savings

13 Financial Mistakes I Have Made And How You Can Learn From Them

13 financial mistakes I have made

13 financial mistakes I have madeWe’ve all made financial mistakes but I’ve made some real crackers, find out what not to do!

If you’ve read some of my posts you’ll know that Mr2p and I are on the cusp of having enough to retire early.

Given that we will be retiring in our early 50’s you would be forgiven for thinking I mostly had my sh*t together when it comes to all things financial.

Letting the side down would be the work in progress situation with how I deal with DD2’s financial dependence.

But other than that, you would think, retiring early, having not earned big bucks? That woman must be pretty hot on her finances.

Oh how wrong you would be! Sorry, but in comparison to many personal finance bloggers I so do not have my sh*t together, not now and not ever.

Today in the spirit of sharing and encouraging you to do as I say not as I’ve done I will let you in to a few of my financial secrets. These are not my financial secret mastery, more my secret mistakes.

 

SMALL FAN OF DOLLAR BILLS AGAINST BRIGHT YELLOW BACKDROP

 

Personal finance blogger mantras

If you read other personal finance blogs you will know the standard held to be fairly ideal is:

  • Have your financial light-bulb moment, preferably before you go to college/university
  • Pay off all debt in super quick time
  • Max your salary by moving sideways, onward and upwards in a succession of jobs – chasing the money
  • Take on a lucrative side hustle that brings in a decent wodge
  • Invest your spare cash in the stock market
  • Cut your cable
  • Pay the mortgage minimum and invest any extra funds
  • Don’t have kids/wait until you’ve retired
  • Retire any time after 30, depending on how much you enjoy your day job.

But you know, in reality everyone’s journey is different and many of us don’t have the urge to retire early, often because it’s not something we’ve ever heard of.

Most of us don’t get our financial act together until we’ve learnt the hard way what our finances are all about. And the fact we have to make hard decisions about our finances. We can’t have it all.

You might have no intention of retiring early. You might love your job. But whatever path you chose you might want to not make the financial mistakes I have.

Read ’em and weep folks!

 

 

rolled up bank notes sticking out vertically from pink flowery piggy bank with black background

 

13 Financial Mistakes I Have Made

 

Establishing yourself financially before having children

Having a child super early. I was a teenage single mum and didn’t manage the little money I had very well.

However, in my favor I also didn’t get into debt during this time even though I was on benefits/welfare for 5 months.

 

Maximizing your earning potential

Not chasing the money by moving jobs/departments. I stayed with the same government department for 30+ years. Indeed I was in the same grade for 18 years!

I had plenty of different jobs during this time but I think I could have gained more promotions if I had got outside my comfort zone and applied for other jobs.

I was comfortable in my department, I was seen as an expert and this gave me a warm fuzzy feeling. It was too easy to stay there.

When I finally woke up to maximizing my day job earnings I got my act together and applied for a promotion into a different department.

18% pay rise after years of 1% caps, thank you very much! Why didn’t I do this earlier?

 

white thatched cottage with flower tubs in front directly on road

 

Downsized our house in our 30’s

We downsized our house in order to become mortgage free quicker. This is probably our worst financial mistake.

House prices have increased a fair chunk in SE England in the past 10 years so we have lost out on the price increase on a larger house than we currently have.

This may be as much as £70,000 more than our current house has increased by! Ouch.

Would we do differently if we had our time again? Not sure. If I look purely at the £70k then of course we wouldn’t make the same choice.

But there were a lot of other emotions tied up with that decision so it’s not so straightforward.

 

money being passed between two people's hands

 

Side hustle your way to riches

No side hustles for me. No lucrative work from home jobs to earn extra money.

However I did couponing in the days when you could use multiple coupons in supermarkets without buying the product.

Loved those days, I used to save up to £300 a month. Good times whilst they lasted.

I have finally started taking advantage of bank account sign up bonuses. We’ve made over a £1000 so far for little more than an hour’s work for each account sign up. Better late than never!

 

Stock market investments

I didn’t start investing in the stock market until 2001. When I did invest it was a lump sum into an active fund which I didn’t then review for a further 15 years – oops!

2nd time of investing in 2008 I got it half right, monthly payments but still into an active fund.

I think I got it right 3rd time by investing with Vanguard tracker funds every month into Mr2p’s SIPP. I should have started earlier and reviewed our investments, moving them as necessary.

 

Follow me on Pinterest for more money saving ideas and financial tips!

Thanks so much for sharing your financial mistakes. Are your finances in a mess? Are you making mistakes with your finances and budget? Find the solutions to your financial problems and learn how to budget and save money. #personalfinance #savemoney #savingmoney #budgeting

Hold on to your cash

We kept too much in cash. When we started saving money we threw everything into Cash ISAs. At least in those days you earned a reasonable 4%+ rate of interest. Not so these days of course.

We were investing this cash for the long term so should have stuck it into a Stocks & Shares ISA.

 

Pension provision

Mr2p has either been self employed or worked for employers without a pension scheme since 2000. I did open up a pension for him and we have paid in a reasonable amount. However I was using 10% as my guideline.

To have a decent pension these days 10% is not enough and even more so when your plan is to retire early.

In the past 4 years we have thrown most of our spare cash into this pension, better late than never!

 

white thatched country cottage on lane

 

2nd home

We bought a house 2 years ago when we got carried away with searching for our forever home area. We made our money back in terms of house price and renovation costs.

However we serviced a mortgage and paid utilities for 18 months so definitely a financial mistake. I did get the council tax reduced to nil for the 1st 6 months due to the house being deemed uninhabitable!

 

Family planning

I had my 2nd child just as I was in a position career wise to benefit from working in London. If I had not got pregnant I would probably have been able to gain a couple of promotions quite quickly.

Continuing to work in London after maternity leave was a non-starter. It’s a 2 hour commute and childcare had to fit around my hours of work.

 

desktop with open laptop, robbon and cards strewn about

 

Education

Not investing in myself education wise. My Mother feels this is a mistake as she is convinced everyone should go to university.

Being the person who always tried to do everything my Mother didn’t want (e.g. left school at 16, home at 18, teenage single mum) needless to say I have never invested time in getting a degree.

Would it have helped me with my career? Probably, in terms of confidence and widening my horizons. Am I willing to say my Mother was right? Nope!

 

Cable TV

For the early retirement brigade cutting cable seems to be an absolute must. But we have cable/satellite TV, have always had it and probably always will.

Mr2p is not a reader, he’s a do-er but enjoys his nature, gardening and DIY programs. He’s a very visual person so TV works for him.

Me? I grew up without a TV so could live without one. Non-negotiable though. If we had freeview we would save approx £40 a month.

But freeview doesn’t have the range of channels Mr2p enjoys. Cable is staying!

 

2 people on a blue scooter with bags

 

Transportation

In the ideal world we would plan and live close enough to walk/bike or take public transport to work.

However we have 2 vehicles that are not in Mr Money Mustaches Top 10 cars for smart, financially frugal people.

Mr2p has a van, I am not driving that van!

I work full time and most of my recent jobs have involved managing staff across multiple locations. Public transport is a non-starter when you are on the south coast.

The car I use is the main family car which we use for all non-work trips. So it’s not even a cheap runabout.

At least it was 3 years old when we bought it so most of the new car depreciation had already happened. We will use it until it becomes regularly unreliable.

 

Dividend shares

As I’ve learnt more about investing I have become interested in the idea of dividend producing shares. These are shares of a company that you buy and they pay out dividends every quarter/year.

Nicola over at The Frugal Cottage is slowly building her dividend portfolio. If you are retiring early having a passive income of dividends paying some of your bills is very helpful.

You don’t have to cash in your investments and the dividends could continue ad infinitum.

I’ve read so much about what you should look for in a dividend share that I’ve got analysis paralysis. I’ve shied away as I don’t feel confident enough to invest in this manner.

13 financial mistakes I have made

Anyone got a time machine?

So there you have it 13 financial mistakes I have made. Would I go back and change them if I had the opportunity? Maybe, maybe not. I am a great believer in learning from your mistakes.

Would I be the person I am today if I had not made these financial mistakes?

Even though we’ve made these mistakes we are still on track to retire early. We will have enough to live the life we want within the next 2 years.

Yes, we could have had more money but does that matter? Not to us because we will have enough! And enough is all you need.

Hopefully you won’t make the same financial mistakes I have. However making mistakes doesn’t mean you cannot learn from them and make great future financial decisions.

You can still accumulate a lovely lump sum of money. You can still retire early if that is your goal. Life would be easier if you didn’t make mistakes but you’re human.

It’s your financial life and you are free to make as many mistakes as you want. But perhaps you don’t need to make as many as I did!

 

 

13 financial mistakes I have made and how you can learn from them. Are your finances in a mess? Are you making mistakes with your finances and budget? Find the solutions to your financial problems and learn how to budget and save money. #personalfinance #savemoney #savingmoney #budgeting #payoffdebt #debtfree #moneygoals #money

I’m taking part in the Monday Money linky with Lynn from Mrs Mummy PennyFaith from Much More With Less and Emma from EmmaDrew.Info
>
 

Thanks so much for sharing your financial mistakes. Are your finances in a mess? Are you making mistakes with your finances and budget? Find the solutions to your financial problems and learn how to budget and save money. #personalfinance #savemoney #savingmoney #budgeting

13 financial mistakes I have made. Are your finances in a mess? Are you making mistakes with your finances and budget? Find the solutions to your financial problems and learn how to budget and save money. #personalfinance #savemoney #savingmoney #budgeting #payoffdebt #debtfree #moneygoals #money
13 financial mistakes I have made. Are your finances in a mess? Are you making mistakes with your finances and budget? Find the solutions to your financial problems and learn how to budget and save money. #personalfinance #savemoney #savingmoney #budgeting #payoffdebt #debtfree #moneygoals #money
13 financial mistakes I have made. Are your finances in a mess? Are you making mistakes with your finances and budget? Find the solutions to your financial problems and learn how to budget and save money. #personalfinance #savemoney #savingmoney #budgeting #payoffdebt #debtfree #moneygoals #money
13 financial mistakes I have made. Are your finances in a mess? Are you making mistakes with your finances and budget? Find the solutions to your financial problems and learn how to budget and save money. #personalfinance #savemoney #savingmoney #budgeting #payoffdebt #debtfree #moneygoals #money
13 financial mistakes I have made. Are your finances in a mess? Are you making mistakes with your finances and budget? Find the solutions to your financial problems and learn how to budget and save money. #personalfinance #savemoney #savingmoney #budgeting #payoffdebt #debtfree #moneygoals #money
Thanks so much for sharing your financial mistakes. Are your finances in a mess? Are you making mistakes with your finances and budget? Find the solutions to your financial problems and learn how to budget and save money. #personalfinance #savemoney #savingmoney #budgeting

Why You Should Create Your Own Work Uniform – Saving You Time And Money

How to create your own work uniform, saving you time and money

How to create your own work uniform, saving you time and money

Creating Your Own Work Uniform Saves You Time And Money

When I was younger I hated the idea of having to wear a uniform. To earn extra money I worked part time in a supermarket on top of my day job before I became a teenage mum.

Their uniform at the time was a really drab brown a-line dress with a belt. An ugly colour with an ugly cut and it did no favors for anyone bigger than a UK size 8/US4.

That first experience of wearing a uniform put me off the idea of ever wearing one for my day job. Luckily as a civil servant I don’t need to.

But here’s the funny thing. 15 years after leaving that depressing brown dress behind I found myself creating my own work uniform. Needless to say brown doesn’t feature!

When you are working full time with small children, time and money are often in short supply.

Even if you earn a decent wage I know you will put the children, bills and life first before buying yourself clothes to make you look and feel good whilst at work.

When working you don’t have time to dress yourself carefully and stylishly. You don’t have the money to spend on the latest fashions to then wear them to work.

When money is tight, buying clothes for yourself is your last thought.

Many workplaces require you to dress smartly or smart casual. These are so broad that your entire wardrobe could fit these categories.

Choosing what to wear every day from your entire wardrobe can be painful and time wasting.

You might also like: 11 Things We Refuse To Give Up To Save Money
 

 

The Problem

Do these problems sound familiar? Do you:-

  • Waste time standing in front of your wardrobe wondering what to wear
  • End up wearing something you are not comfortable in and it drags your day down
  • Wear your nicest clothes because you’re not sure if something else suits you
  • Spend time trying to match shoes to clothes
  • Waste yet more of your precious time choosing matching accessories
  • Feel frazzled by the time you have finished dressing
  • Spend too much on clothes so you have enough to wear both at work and at home?

 

Follow me on Pinterest for more money saving ideas and frugal tips!

Why you should create your own work wardrobe, saving you time and money. Save money and your budget by creating a capsule wardrobe for work cheaply. Work clothes don't need to be expensive. Be more organised, save time in the mornings with a work uniform. #savemoney #savetime #timesaving #budget #capsulewardrobe #workuniform

Why you should create your own work wardrobe, saving you time and money. Save money and your budget by creating a capsule wardrobe for work cheaply. Work clothes don't need to be expensive. Be more organised, save time in the mornings with a work uniform. #savemoney #savetime #timesaving #budget #capsulewardrobe #workuniform

 

The Solution

The solution is to create your own work uniform. By creating a capsule wardrobe for work you can stop wearing all your nicer gear.

When you get a chance to go on a night out you will be able to wear something that feels special. Not something you’ve worn to work a dozen times before.

You would never dream of wearing a supermarket uniform at home or on a night out so why do the same with normal clothes you wear to work?

Keep your home clothes ring-fenced and you’re less likely to feel the need to shop for a new outfit ahead of a night out.

 

woman with shopping bags over her shoulder looking through store window with sale sign on it

 

Key Components Of Your Capsule Wardrobe

  • Decide on a style of dressing that will be appropriate for your workplace
  • Ensure you are comfortable with this clothing style
  • A small palette of 2/3 base colors
  • Choose clothing styles that are interchangeable with other items in your base color
  • Classic styles with minimal branding/logos don’t date
  • Choose tops that you can wear with all of your base colors
  • Ensure your shoes are comfortable enough to wear all day, more than once a week

 

I work in an office and manage a team so chose to team jackets with skirts and trousers.  I don’t wear dresses as always feel uncomfortable in them due to how I view my shape/size (typical woman!).

Both my navy jackets can be worn with the navy skirt and trousers I have. Indeed I have been know to inadvertently wear them with black trousers as I often get dressed in the dark!

 

How to create your own work uniform, saving you time and money

Basic Capsule Wardrobe

  • Black bottoms – 1 each of: skirt and trousers
  • Black jacket
  • Black shoes/boots
  • Grey bottoms – 1 each of: skirt and trousers
  • Grey jacket
  • Grey shoes/boots
  • Contrast color jacket (mine is bright pink!)
  • 8 x Blouses and shirts in various colors/patterns

 

My work wardrobe is almost identical to the above apart from having navy not grey. Add in a pair of sandals for hot days and that’s your wardrobe for both summer and winter if you work in an office.

You might want a jumper/cardigan/fleece in the winter but most buildings have central heating/air conditioning so possibly not. The only time I wear a fleece to work is when the central heating is broken!

Finish off creating your own work uniform with a couple of go to accessories that you can wear daily. I gave up wearing jewelry, saves time in the morning. No more faffing trying to get stud earrings in!

 

womans hand holding fan of dollar bills

 

The Benefits Of Creating Your Own Work Uniform

Decisiveness

Indecision goes out of the window. Your basic capsule wardrobe dictates the majority of what you are going to wear.

You don’t need to worry about color schemes as this is built into your work wardrobe.

 

Time Saving

You save time as there is no time lost deciding what to wear, done and dusted in about 20 seconds, if that.

 

A More Organised You

You always know what your work wardrobe is and don’t have to think about whether something is suitable to wear to work or not. You’ve already done the hard work creating it.

 

rolled up bank notes sticking out vertically from pink flowery piggy bank with black background

 

Money Saving

Having a base palette of 2/3 colors means you don’t spend money on the latest shiny new color scheme to hit the shops.

Once you have your wardrobe you only need to buy replacements. Most clothes last for years before needing replacing.

 

Work Focused

You get into work mode more easily as soon as you get dressed. Once your wardrobe is established you will find that you become your work persona once dressed and you’re focused on work and being organised.

You may also like: 27 Easy Ways To Create More Time

 

How to create your own work uniform ,saving you time and money

Building Your Work Uniform

Having created the basics for your work uniform the key thing is to build up your wardrobe over time. This is not an excuse to spend £500 on new clothes!

Identify what you already have that can become exclusively work. In the ideal world you will have created a complete work uniform from existing pieces in your wardrobe.

If that is the case then ensure you ring fence them from now on and only wear them to work.

If having created your ideal work uniform you don’t have the right key pieces then plan how and when you will buy these items.

As you know these new clothes will only be for work, why not focus on getting as many as possibly from charity/thrift shops?

Keeping your work expenses as low as possible means you leave more money for your family and savings. You don’t want to be paying out your hard earned money just to go to work.

You go to work to earn money for yourself and your future plans.

Classic styles don’t date and can be picked up for a few pounds in many charity shops. Choose charity shops in affluent areas and you’ll pick up well made, branded items.

Half my work jackets are from charity shops including my favourite Laura Ashley navy short jacket. I bought it for £5 and it’s still going strong after 10 years!

You may also like: The Easy Way To Save Money

 

woman window shopping at shoe shop

 

Summary

Choosing to create your own work uniform will save you money, time and stress. Identify what your work wardrobe will include.

Buy from charity shops for additional savings. Spend the money you save on your family or save for a holiday – the choice is yours!

You might also like:

25 tried and tested moneysaving tips

10 things I don’t do or buy

150 proven ways to save money

 

 

I’m taking part in the Monday Money linky with Lynn from Mrs Mummy PennyFaith from Much More With Less and Emma from EmmaDrew.Info

Why you should create your own work wardrobe, saving you time and money. Save money and your budget by creating a capsule wardrobe for work cheaply. Work clothes don't need to be expensive. Be more organised, save time in the mornings with a work uniform. #savemoney #savetime #timesaving #budget #capsulewardrobe #workuniform

Why you should create your own work wardrobe, saving you time and money. Save money and your budget by creating a capsule wardrobe for work cheaply. Work clothes don't need to be expensive. Be more organised, save time in the mornings with a work uniform. #savemoney #savetime #timesaving #budget #capsulewardrobe #workuniform

Why you should create your own work wardrobe, saving you time and money. Save money and your budget by creating a capsule wardrobe for work cheaply. Work clothes don't need to be expensive. Be more organised, save time in the mornings with a work uniform. #savemoney #savetime #timesaving #budget #capsulewardrobe #workuniform