Save a little daily to save a lot monthly

Believe it or not, but the most savings you will make are from saving a bit daily and monthly. Before we go into how to do it, let’s look at this example that may sound familiar:

  • Mobile phone: £40/month
  • Lunch at work: £5/school day
  • Beer after work: £7/week

Let’s look at these separately. The mobile phone expense is only needed because you bought/upgraded to the latest phone. Was your phone broken? Or did you just “need” the latest phone. If you hadn’t upgraded or bought it you would probably be at £20/month with more than enough data and unlimited calls and texts. That’s right. Savings: £20/month.

Do you go out for lunch when you’re at work and think to yourself “it’s only £5 what a bargain”. If you were to over cook the day before and bring the leftovers at work it would have cost you between £1 and £2 instead, plus it would have been healthy and exactly what you want. That’s £3 per work day. Savings: 3*20 work days = £60/month.

That beer after work every so often, you know what? Have it. With already £80/month saved here is a list of what you could do:

  • Get return flights to Malta, Greece, Iceland, France, Poland, Italy, Belgium, Spain, Switzerland or Germany from the UK (some destinations include 3 night hostel for this amount, and departures are not only from London)
  • Dine at that fancy restaurant with your partner
  • Go skiing for 2 days in Scotland
  • Go to a spa day in a castle

These are only examples of the things you can do with these savings. Also, you can save more than the example I gave. Look at your daily/monthly expenses, write them down on a paper, see what’s not really needed. What you almost don’t use, you can do without, so cancel it.

If you want more information on how to buy a phone and save money, please read Buy a Great Phone Without Wasting Money.

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