We saved £ 20,000 in 10 months and want £ 90,000 in 3 years – Here’s how you can too
A woman saving MONEY revealed that she and her partner saved £ 20,000 in just ten months – and they’re aiming for £ 90,000 over three years.
Abby Dunsmure, along with her partner, is saving to buy a house and shared her very simple tips that can help you save too.
“These are just a few tips that have helped us over the past ten months,” she said in a clip on TikTok.
But adds, “It won’t work for everyone, that’s just what helped us.”
Have a separate savings account
Keeping your savings separate from your checking account is a good way to hold yourself accountable.
“The last thing you want to do is have all your money. It’s easy to just pull it apart and that way you can’t dive in that easily, ”she said.
This means keeping your bills and other expenses separate, making it easier for you to see what you’re saving.
Think of money as hours of work
This means that, rather than looking at the total cost of an item, break it down into how long it would take you to earn that amount.
For example: “If a purse costs £ 80 and it took you eight hours to earn £ 80, do you really want to spend £ 80 which took you eight hours to earn?
“Personally, I wouldn’t want to get up at 6 a.m. and work eight for an £ 80 bag. I have better uses for my money.
Ask yourself this question
When you are about to make a purchase, ask yourself “do you really need it or do you just want it?” “
Abby says, “There is a difference between need and want. Find the difference. “
She says she was an impulsive shopper, but now knows the difference and admits that “it has completely changed my life”.
Budget always using lists
“Lists are your best friend,” Abby says. “You have to sit down and set a budget to see what you can actually afford to save each month. “
When budgeting, make sure you ‘pay yourself first’
This means that you allow yourself a small amount each month to do whatever you want – it could be getting your hair done or buying something nice.
Switch to own brand
According to Abby, there is no difference between private label products and expensive brand name products, especially when it comes to food and cleaning supplies.
“Some things you may notice have a difference in taste, but nine out of ten times you can’t and you’re saving a lot of money,” she explains.
Stop buying coffee
There’s a way to get your coffee fix without breaking the bank, so Abby says to stop buying your favorite beer from Costa or Starbucks and brew it at home.
“Go down to Lidl, 80p for a box of 10 small, own-brand coffees, grab a little gourd and make it yourself. It saves you a ton of money, ”she advised.
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And don’t be fooled by delicious spicy pumpkin lattes – or other sugary treats – because you can make one yourself at home for a fraction of the price.
Abby bought a huge bottle of TK Maxx syrup for just £ 3.99 which will last a very long time.
Always prepare food and cut out take-out meals
Avoid buying an expensive lunch on the go and grab your own packed lunch instead.
“These are unnecessary expenses,” Abby warns, and you can “easily prepare the night before.”
When it comes to buying take-out, thrifty Abby said she “can’t remember the last time” they bought take-out, but are budgeting for all three or three. four months.
“You don’t have to have a takeout or two or three every week. Save money, ”she says.
Ideally, we would all rather work less than earn more hours, but if you have serious savings goals the more you work the better.
If you have the option, Abby says to take as many hours as possible, which will help you move forward.
It’s easy to sign up for multiple subscription services and even forget you have them.
But Abby said they canceled their Sky TV package and now saved £ 30 a month.
It’s £ 36 a year and in three years they would have saved over £ 1,080 – just by canceling it.
Buy second-hand gifts
Abby says: “I bought my husband a set of gym equipment that cost over £ 600, but someone was selling it on an online store for £ 140, so I saved a lot of money.
She advised, “Go to charity shops, do your research, buy second-hand if you can.”
Pay in cash
If you only take the money you need, that means you can’t overspend and buy more on impulse.
This is where planning makes a huge difference, because you will know exactly how much money you need.
Remember your goal
Abby says to remind you why you started saving, and it will be easy to stay focused and keep saving.
Remembering your “why” is an easy way to stay motivated, so it’s a good reminder when you feel like you’re about to splurge on something.
We’ve also shared six simple tips for keeping your home warm WITHOUT turning up the heat – and they’re all completely FREE.
And this couple saved £ 27,000 on their dream wedding and the all-night bar only cost them £ 5 – here’s how they did it.
Meanwhile, this woman says, “I am a teenage mother and I am desperate to move into my own house, so I am using the three tin technique to increase my savings.”