When you’re starting to save, get realistic with yourself.
If you’re downsizing your monthly outgoings, can you really part with your daily coffee? Are you going to hide that nail appointment from your other half and insist it was a home job?
Figure out what’s important to you and what you can really save and try to apply some of these tips.
1. Make it your own
It’s a tiny thing but it can really give you a little boost… personalise your account. It’ll be more heartening to see money going out every month to MEGAN’S GAFF FUND than some faceless second account.
2. Get SMART
Ever heard of SMART goals? They’re the best way to ensure you stay on track with plans.
Specific – pick a figure you’re working towards.
Measurable – set up that separate account so you can see where you’re at.
Achievable – is this gonna work for your lifestyle?
Relevant – is this the best time to buy for you?
Timing – set a firm timeframe so you have a solid goal to work towards.
3. Buddy up
As they say, teamwork makes the dream work. If you have a mate who is in the same boat, you can do cheap nights in, moan about the struggle of saving and encourage one another not to cheat on that sacred GAFF FUND…
4. Get on top of the paperwork
If you’re applying for a mortgage, you’ll be no stranger to the reams of paper work and special folders you’ll need by your side! Harness this renewed appreciation for life admin by looking into reclaiming tax and complete your MED1 form for medical expenses annually. You never know what you may be entitled to.
5. Leave ‘em at home
Debit and credit cards can sometimes act as a safety valve when we exceed our monthly budget for spending. By taking out your allotted cash at the start of the week and carrying this with you for expenses, you’ll be more likely to stick to your budgets. Leave the cards at home… Especially on occasions where there’ll no doubt be temptation to overspend, such as on nights out.
When you’re making the decision to sell up or renovate, everyone will have their opinion – and won’t think twice about letting you know what it is. But how do you block out the noise and get to the point?
At permanent tsb, we value finding a better way. If you’re house-hunting, or even just saving for your deposit, you’ll want to do things the right way. Head over to our Bring It Home Hub for the inside scoop.
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