I’m loving this thread!
I recently started saving for a house deposit, and lockdown has done wonders for my savings account! (Always look on the bright side eh)
I’ve been doing LOTS of overtime at work (I’m a nurse) because the shifts need covering and let’s be honest there’s nothing else to do, so I’ve been having extra in my pay packet every month.
I have my wages paid into my bank account, I then transfer around £2-300 to my monzo for “everyday spending” (this was pre lockdown, I put around £50-100 in there every month at the moment) if I wanted a coffee whilst out, lunch with a friend, a book from the bookshop. Then £200 goes in my help to buy ISA and £150 into a separate savers account (rainy day fund). I also had a separate savings pot on Monzo that would automatically round up my spending and add to it.
I’ve currently started adding more money to my Monzo pot as they pay interest monthly and pre lockdown it was 0.80% but has now dropped again to 0.50% so will have to review whether it’s a good idea to keep money in there, currently earning only about 80p a month from it in interest!!
I’ve also been reading MSE forums about budgeting, saving, getting the most from your money etc and they’ve been very helpful.
I’ve recently signed up to all major supermarkets reward schemes such as Tesco clubcard, morrisons more card and sainsburys nectar card so no matter where I shop, I should get some eventual benefit.
the main battle for me is not to buy clothes, I’ve deleted all shopping apps such as ASOS and Topshop from my phone and unfollowed them all off Instagram so that I’m not tempted!
the tip about working out your hourly rate and thinking to yourself how many hours you’d have to work in order to buy something is a great idea. Really puts it into perspective the value of things/your time.