Wednesday, 30 May 2012

My Guide to Savings


As you may have guessed from some of my previous posts and all my charity shop clothing, I like to save money.  So I thought I'd tell you how I actually store my savings.  Obviously everyone does this differently, but I use three different methods...

The main one is my savings account.  I actually changed banks so I could have access to both my current and saving accounts online, which I'd totally recommend as it makes life much easier.  Every month I look at my payslip and work out how much I can transfer into it when the next pay goes in - I know some people would transfer it straight away but I like to have a wee competition with myself to see if I can beat my target!  And I almost always do, so it makes clicking the transfer buttons that little bit more thrilling ;)  Also, if I'm taking money from my Paypal account or have an unexpected bill refund or the likes, that cash goes straight to my savings too - for me it's like money I didn't have in the first place and therefore can live without, plus it boosts the savings total. (warning, it's addictive to see those numbers rising!)


My second method involves £2 coins and an old trinket box - I came across this idea online somewhere a while ago.  Basically every time you're given a £2 coin in your change, save it.  It doesn't happen so often that you would miss the cash, but after say, a year, you'd have a nice little nest.  I save them for Christmas pressies, but it could work for anything really - a new wardrobe, an updated iPod, or even a gift to charity at the end of the year.


My last way of saving makes use of a money tin I was given years ago - this is where I keep all that random change that seems to fill up my purse.  (why is it so much easier to pay with pound coins than coppers?!)  Every few days, my purse gets emptied of everything from 20p's down, and again, at the end of the year/when it fills up, can be used for whatever you please - mine was just emptied in to my savings account recently but I'm thinking next time it fills up I'll pick a charity and donate the total.  

Does anyone use any other ways of saving?  Leave me a note!

:)

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9 comments:

  1. I do the £2 coin thing too - it's sort of thrilling but annoying too when they don't have a fiver in the till and you get £8 worth of them all at once!

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  2. Fab post! My Mum and I save all our silver coins, at last count we had £200 to share!

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  3. Great ideas! :)

    Me and my partner both have a change pot we tend to put our coppers and loose change in, but I never thought of the £2 coin idea - not sure it would work for me because I'd constantly be taking some from the pot to spend on the little things at the local Co Op.

    I am looking into a savings account though, an online friendly one is a great idea too. I'm with Natwest so I'll look into that! I have recently gone full time at work and definitely do not need all the money I get at the end of the month!

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  4. That's a really good idea with clearing your purse out of the loose change. We throw all our pennies into a tub but we use all our little pieces of silver for the car parking when we're out. So we always try and grab a load of them before we're heading out to use them up.

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  5. I transfer money to my savings account at the end of the month, too. It started off as, "I'll save whatever's left at the end of the month," and I still do save everything that's left, but now I have a target in mind and I usually meet it.

    I love the idea of donating £2 coins to charity!

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  6. I like the idea of saving £2 coins, I save change but never pounds and very rarely 50ps so when the tins full it never amounts to much. A few £2 coins thrown in would make a big difference xxx

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  7. What pretty jars to keep your coins in!

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  8. I bought my Mum one of those terracotta pot things that you have to smash at the end to get your money out. This was, like, four years ago, and she's been putting one two pound coin in it every week since - it weighs an absolute tonne now! Great ideas shared here - I love it that you dork out over your savings account too! x

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  9. both looks super cute! xx

    http://www.theprovocativecouture.com/

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