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10 Simple Money Saving Tips

Have you ever asked yourself “how can I save money?”, I know I did, actually I often ask myself what are the best money saving tips that I need to know to help me get out of debt and fund all my travels. These money saving tips are purely based on my opinion and personal experience. If you have any other suggestion of ways to save money please do let me know and leave a comment down below:

1.Simplify your lifestyle

I can’t stress enough how important this is, unless you are blessed financially. Please do be aware of the things you own and have accumulated through the years. Simplifying your life does not mean you need to let go of everything you own. It is basically appreciating what you have in life and making the most of it. An example is stationary, do you really need that many notebooks? do you use all of them at the same time?. Stocking is different from hoarding, you could stock everyday essentials that are constantly being used on a day to day basis. Be mindful of what you buy and make sure each item you own has a purpose in your life.

2.Keep that £5/$5 fiver notes

I just came across this money saving tip early last year. This actually does make sense and somewhat makes saving money fun and easy. Every time you receive a £5 or $5 note keep it and deposit it in your savings jar or piggy bank. Simple yet effective. I was able to save a total of £300 for 6 months just saving £5 or $5 change, try it and share your experience.

3.Pay yourself first

This caused some controversies before as paying yourself first does not work for everybody. This did not work for me when I was trying to make ends meet, or commonly known as living paycheck to paycheck, this is never a nice feeling or experience. However I would only recommend this when you have gone past the “living paycheck to paycheck” stage, please do try setting up a direct debit on your account. Paying yourself first will give you an overview how money have you got left to budget for your bills and everyday expenses. Make sure to not over do it at first. Set a certain amount of money that you would want to keep away every payday, and work your way around what you have left.

4.Pull out a tenner (£10 or $10) at least, per month

This could be a great starting point when paying yourself first. A tenner a month will give you £120 spare money by the end of your 12th month. This can vary with whatever amount you have chosen but a great idea to start saving. This is another easy money saving tip that anyone can do. It is not the amount of money you put aside that puts people off from saving, its taking action.

5.Join or create a money saving challenge- or use my template

Money saving challenges actually motivated me to start upping may game at saving money. I use to save however much money I have left on my bank account, which used to be a negative number (check my money mistakes blog post). When I came across various money savings challenges on pinterest. Started creating my own to suit my financial situation. I was then able to save up for most of my big purchase. Currently I am trying to figure out how to save up for a house down payment. Q&A. What are you saving up for? share in the comment section down below.

6.Try out envelope system

If you have heard of Dave Ramsey, you might have heard of this. If not, I’ll try explaining it as clear as I can. This envelope system is great for allocating all your money to each individual task by placing them in individual envelopes. An example of how you allocate your money to the right task is by writing the tasks listed below at the back of the envelope:

  • phone bills
  • electricity
  • water
  • broadband / cable
  • car expenses (insurance, road tax, mot)
  • car petrol
  • grocery
  • insurance
  • grooming / hair cut
  • eating out
  • cinema
  • shopping
  • savings
  • travel

After allocating all your money, this will help you restrain yourself from over spending. For example if you have used up all the allowance you have allocated for eating out. that’s it. You are not allowed to take away money from different envelope. If you are able to not use up the allowance allocated on the envelope this can be carried forward in the next month. It’s as simple as that. This type of money saving tip helps you improve your discipline.

I can create a more in depth breakdown of how to start envelope system, and what are the pros and cons. Just let me know down below on the comment section 🙂

7.Open up a savings account or ISA(UK)/IRA(US)/TFSA(Canada)

I opened up a savings account whilst I was at university but did not start using it until I started working after graduation. I then realized the power of having a separate account for saving money is a life saver. Every pay day I transfer a certain amount of money from my current account to my savings account. This helps me budget my own allowance for the month and still put aside a spare money for emergency purposes. Also, take part of the government schemes such as Individual Savings Account (ISA-UK), Individual Retirement Account (IRA-US) or Tax-Free Savings Account (TFSA-Canada) where

I cannot guarantee if IRA and TFSA are an equivalent to ISA but I do know they are government schemes. Please make sure to consult a local registered financial adviser before making a decision.

8.Create a Need’s list not Want’s list

Don’t get confused between your wants and needs. I used to always transfer all my want’s list onto my need’s list which resulted to overspending. Having a clear line between what is a priority and what can wait in the future helps you avoid getting over your credit limit or overdraft. Make sure that your list is a real and genuine as it can be, always ask yourself first before categorising each item. For example do you really NEED that Starbucks coffee every morning? Why not think of other ways instead of spending £3 on a coffee.

9. Track your expenses

I started tracking my expenses since April 2017 and since then have been monitoring every penny. This does not necessarily save you money. But keeping track of your expenses makes you aware of where your money is going. Living paycheck to paycheck was my previous lifestyle, but after numerous trial and error I was able to control my spending. I have been keeping all the receipts and audit my spending every end of the month. This helps me forecast and budget my expenditure for the next month.

Note: This is not a must but if you are serious about saving money I do recommend revisiting all your expenditure.

10. Buy a piggy bank / money jar and keep the change

This is by far the most popular money saving tip. Keeping the change is sometimes overlooked but as time pass by all the change accumulated do add up. “Every penny counts” always keep this in mind and make a habit of it, and you’ll be able to save extra cash in no time.


10 simple money saving tips


MOTIVATION is what gets you started HABIT is what keeps you going – therefore start making a habit of saving money by following this easy money saving tips.


If you’ve missed my previous post please click the links below

Are you considering blogging on the side? check out the 10 blogging lessons you need to know

Do you love travel blogs? Check out my blog post about  How to travel around 6 European countries in 10 daysTop 5 underrated European Cities to visit.

Travelling on a budget? read my previous post about  Wanderlust Fund – Savings Challenge.

Planning for your next destination? read this post How to plan your trip and Travel Essentials – Summer Holiday

Interested in personal finance topics? read my top 5 money mistakes

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