Woman’s money-saving tips will save her £600 this January
A woman shared her top tips to save money. money including a ‘no spend January’, which will save her up to £600 this month alone.
Sophie Bradbury (24), Brighton, East Sussex says she is committed to saving her family hundreds of pounds per month by making small changes in her spending habits.
She believes that the beginning of a new year is an important time to make financial decisions and set savings goals.
The mother-of-1 is participating in ‘no Spend January’, a money-saving initiative that sees people cut down on all non-essential purchases.
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Participants are restricted to spending money on rent, mortgage, bills, food shopping and transport.
This means that non-essentials like take-out, shopping, dining out, drinks out and furniture must be completely thrown out for the month.
Bradbury also recommends that subscribers be reviewed and cancelled or paused if they aren’t necessary.
She also suggests deleting all shopping app and writing down the items in a “want” list.
Bradbury is sharing her money-saving journey on social media, and says she expects to put away £600 this month – which she will spend on a family holiday later in the year.
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Full-time mother and blogger, explains that “I looked at what we were spending and we were paying hundreds for things we don’t need to.” “Before budgeting I didn’t look at my spending because I was afraid. But now, I see where every penny is going and I’m able to save hundreds.”
She said that “No Spend January” encourages everyone to make savings, declutter and even make money. She says, “I made a daily task list that I have to accomplish every day.” It’s only one month but it can make a big difference and set yourself up for a successful year.
Bradbury, who began sharing financial advice online earlier in the year, plans to offer free activities on weekends to resist spending temptation.
She keeps the whole family entertained with nature walks, fakeaways and DIY spa nights.
Bradbury allows you to purchase petrol but she cuts down on the amount she uses her car for the month. She walks to mail parcels rather than driving, even though it takes twice as long with her son, aged two, to do so.
Her best tip is to let your family and friends know about the challenge and make sure they don’t pressure or press you into breaking the no-spend rule.
Blogger, otherwise known as the Millennial Momma, adds that it takes away the stigma and pressure. There are fun ways you can do things together.
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Other tips she recommends include meal planning and selling any clothes that you no longer wear.
She says, “A lot of these things people might never have thought to do before. But they can make such an impact.”
In a spreadsheet, keep track of where each penny went. She says that this will allow you to save money over the course of the year and then spend it on the things you want.
Bradbury’s top money-saving strategies
1. Track every penny with a spreadsheet
2. Meal plan
3. Tell your family members and friends about the challenge to get on board.
4. Instead of spending money on things, make a “want list”.
5. Double-check your subscriptions and cancel them – even if it is just to pause them
6. Save petrol by walking more than driving
7. Enjoy fun and free activities
8. You can sell your clothes online and make extra money.
Additional reporting SWNS.