I don't know where to start! Where's all my money going? how do I start a budget? it seems so complicated.
I've heard it all before and trust me, that was me.
sometimes you don't realise how much you're spending on the 'little things' and that's how I used to be too, I had the mentality of 'oh it wont hurt to buy this', 'another takeaway wont hurt' etc.
So, I wanted to keep this short and sweet and just get right into it. I have put together a list of 10 things which I personally cut down/out to help me kickstart my budgeting journey.
*YOU DONT NEED TO CUT EVERYTHING OUT, THIS IS JUST WHAT WORKS FOR ME*
TAKEAWAYS/EATING OUT
Eating out and takeaways add up the quickest. on average, 2 people in the united kingdom spend £118 on eating out/takeaways a month. Two of the main things which have helped my family cut down our eating out bill is 1) limiting our takeaways to ONE a month so you are still able to have that treat. 2)substituting some money from our grocery budget and buying a Hello fresh or Gousto box once a month, that way it is still a treat and it is also something different.(This is a good idea to get all of your family involved)
Subscriptions
now, I'm sure we all love Netflix, YouTube premium, Spotify, Amazon prime etc. But they can also add up very quickly especially if you're not using them as much as you think. cutting back on what subscriptions you pay for will save you money quicker. This just means sacrificing and choosing Netflix or Amazon prime video.
Going to the salon.
Do you get your hair done often? nails every month? eyelash extensions? whatever it is. The average woman spends around £313 per month on beauty. obviously what each person spends varies, some may spend less and some may spend more.
Cleaning products
Not everyone will have this problem but at the beginning of the pandemic I was spending £100 a WEEK on cleaning products, which I did not need. (it was a problem). If you're from the UK then you'll understand that with B&M bargains, you go in for one thing and come out with 60 things you didn't need.
TV
Going back to subscriptions, tv is expensive. This is because most of the time it comes as a package-meaning there are a lot of channels you most likely wont even click on and watch. IF you're happy using a streaming website instead this will save you a lot over the year.
COFFEE
I used to think it tasted 'better' when in reality I just couldn't be bothered to make my own at home and take it in a reusable cup. After spending around £40 a week on takeaway coffee at work etc. I decided to wait until an offer/promotion came on a coffee machine I liked and brought it. This cost me £35 down from £129 and I haven't had a coffee shop coffee since. only buying the coffee capsules off of amazon in bulk every 3 months.
obviously you could just have normal coffee but this is what worked for me.
clothing
Addicted to buying clothes? shoes? accessories?
9/10 people buy clothes while they have ALOT of clothes sat there in perfect condition. I'll cover this in another blog post but we put a little amount away each month to then be able to buy something if we need it.
Remember; retail shops do different promotions and offers throughout the year, so you could want something for £65 but you could end up getting it for a lot cheaper.
Alcohol
I'm sure a lot of people love a drink now and then, I'm not personally a big drinker(purely because some drinks can be so expensive) but there is ways to cut the cost of what you spend on alcoholic drinks- if this is something you're willing to sacrifice.
whether you're going clubbing with your friends(after covid) or drinking at home. id recommend pre drinking cheaper alternative drinks if you're going clubbing to minimise the amount you'll spend once out. or, if you're staying home and you're not willing to change your drink choice maybe try shopping around for a cheaper price or if someone likes the same drink as you, you could split the cost and share the drink.
Smoking
what would you spend an extra £3,300 a year on?
Do you like cigarettes or vaping? both are crazy expensive.
An average smoker spends around £3,300 a YEAR on cigarettes(£275) a month.
Presents
I'm guilty for wanting to spend as much money on my friends and family as I possibly can but.. what I have learnt, especially this year is that substituting expensive gifts for handmade, more sentimental gifts are much more appreciated and mean a lot more to the recipient.
What are your thoughts?
Thank you for taking the time to read my blog. i hope you enjoyed it and maybe even took a few points from it to help you with your own budget.
id like to know what you've personally cut out of your budget for you to save some money in the comments!
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