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How I Make My Money Go Further


So being an apprentice, I obviously don't earn a fortune. However, I am and always have been good at saving. I've found that as long as you get into the habit of saving it's something you struggle to get out of. Believe me when I say it's nice seeing your savings build up! Now, I spend on average around £250 a month on travelling by either bus or train (or both) to my workplace. It might not sound like a lot to people who earn a £1000 or more a month, but to me it's a small fortune. So I'm saving for a car (mostly because I can't stand trains) which means I really have to get into the habit of saving. On top of this I have driving lessons to pay for so finding money to put aside is becoming harder. Before I started my driving lessons and my apprenticeship I worked in a small care home on a Sunday. I would earn an average of about £150 a month. I didn't spend this money, I let it build up over the year that I worked there (I'd maybe spend £20 here and there) and ultimately I had £1200 in my bank for my car before I was even old enough to learn to drive. Saving helps if you have goals. Say you want to buy a house, work out how much you have to spend a month (eg. Bills, food, mortgage, fuel or travel) and save everything else. Everyone says save before you spend but I've found that it's a very difficult thing to do if you don't know how much you have to spend a month. I've found that as long as you know how much you will have to spend a month you can save every other penny that crosses your palm. If you're finding that the money you're saving is become to difficult not to spend, then move your money it elsewhere. If you're money from saving is in an easy to reach location you're bound to struggle to save it. I keep all the money I'm saving in a separate bank account. I would recommend a bank account specifically for savings as the interest rates mean you gain a little bit extra on top of what you already have in your savings. It's only small amounts ( I got £4.94 yesterday) but every little counts when you're saving towards your goal.

Saving has to become a habit otherwise you eventually get out of the routine of doing it. Keep focused on your goals and be thrifty and frugal!

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