Monday, 1 February 2016

Frugal February

This February I have decided to cut down on spending! My outgoings as of late have become rather erratic and I have been wasting money rather than saving it. February marks my month for change. 

Not only have I started the 52 week challenge this year (which is a saving scheme where you save £1 for every week in the year - for example (1st week:£1, 2nd week: £2) By the end of the year I will have saved £1.378. I have also decided to cut out a lot  of frivolous spending.

February is a trial month as I want to see where all my money goes which is why I will be giving myself a weekly allowance. This will cover - food, petrol and whatever else I usually do in the week - whether this is go out with Gary or with friends. I have so many big things that I want to do this year, and saving is essential to achieve this. 

My dad has always urged me to save, he would say for a rainy day. I wish I listened to him once I started working, this would have been a huge help to me now if I had just saved 10% of my wage each month I would be in a better position now. I feel like I have so much catching up to do and although I didn't start this early, it's never to late. 

Here is my list to help cut down of spending
  • Budget for each week - petrol, groceries and also a weekly allowance
  • Watch cash flow - calculate bills
  • Unsubscribing from GlossyBox - February will be my final box as it is free due to the points that I have collected over the past few months
  • No clothes, no shoes and no accessories- this is going to be hard because I love to shop
  • No impulse purchasing 
  • Stick to a shopping list when grocery shopping 
  • Sell all unwanted clothes on eBay 
  • No eating out unless it's within budget 
  • 52 week challenge - target £1,378!! 
If you have any saving tips you would recommend leave me a comment below!! 

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