Are you saving enough money? That rainy day might just be around the corner.
Usually it's not until we need to save because of financial crisis, that we start actively saving. You might think that saving is easy but it could be more challenging than you think. Before you begin to save you need to know exactly where you are spending your money.

It may not be apparent at first where all of your money goes. I'm not referring to your monthly bills or expenses. It's the little leaks that sink the ship, as they say. Saving everyday isn't rocket science, that's for sure. It does however require you to be aware of everyday spending. With new glorified technology there are various ways to spend money making it even more difficult to keep an eye on your cash.

We seem to notice more when we use cash as opposed to credit cards or cheques, because it’s immediate and more ‘visual’. Cheques and credit cards are not an immediate loss as most people will not record the expenditure until a designated set aside time to balance their account. Some will not record them at all! If you complicate your spending by using a credit card to cover your everyday spending and soon you have no idea how much money is really slipping through your hands every day.

Stop that draining money pot
Knowing where your money goes is the first step in saving money. Carry a small notepad for a month. Write down all money you spend everyday whether it be cash, cheque or credit card. Next, review your list to see how you can start saving. Quick savings can come if you eliminate spending on things you can do without. Next, think of ways to save on expenses you consider necessary. Here is some money saving tips to get you started…

Money Tips

Pack your lunch
You'll make some big savings if you simply pack your lunch instead of buying/ eating out. This change alone saves you well over £50 per month and cut back on chocolate and drink machines. Bring your own snacks from home. Try apples, oranges, or other fruits and veggies for healthier snacks. Do this and watch you savings grow and maybe your waistline shrink at the same time!

Cut the Coffee
Savings will really add up if you cut out buying coffees on the way to work. If you must have coffee after you leave home, you should invest in a flask. You'll save money if you make the coffee at home and carry it with you to work in the flask. If you normally buy 2 cups of coffee each day during a 5 day work week, you can save yourself about £20 per month using this strategy and if you really must have that cappuccino, get the sachets from the supermarket and make yourself one when you get to work, that way you’ll get 5 or 10 cups for the cost of one!  

Say no to Breakfast on the go…

Try to avoid breakfast on the go. Get up a little earlier and eat your breakfast at home, or take something with you to eat on the journey instead. Always use coupons and take advantage of discounts whenever possible. In an ideal world everyone should be saving all the time. Commit to putting the money you save everyday in a special savings account. Before you know it, you'll have the emergency fund or savings plan you need. Or maybe you'll be able to go on that dream holiday you’ve been waiting to go on for so long.