Savings 101: June

Today I am here to talk to you about monaay... again.

This is not a subject there is enough realistic advice on and I would like to change that. I have scrawled the internet many a time at ungodly hours to seek answers to my problems and I have never really found something I can relate to, something genuine with warts and all, you know? 

The fact of the matter is sh*t hits the fan and for most people (in my opinion) it happens rather frequently.

I like to be here and write what I do because I like to be helpful, I like people to know they're not alone and that there are normal people like myself out there who are in the same struggle, making the same mistakes and gracefully (not always gracefully) getting the sh*t end of the stick.

So let us embark on this life lesson together and let us stop being the person who draws the short straw every, single, time.

In this dwindling economy, where the hopes of ever being in a financially stable enough position to live seem to be evaporating before our eyes one must be prepared for everything and then a little bit more. The only way to have this safety net is to start building it yourself, they don't just hand them out to people like you and me unfortunately.

I have thought about this for a very long time and fear my plan may now be rather anti climatic, which on one hand is not ideal because I aim for my posts to be exciting, on the other hand, the fact this plan is quite boring also means it's very simple and straightforward.

So here is my little plan... I hope it helps me and of course I hope it helps you!

After much thought I have established the key to saving is putting away small amounts frequently, at least in my (unprofessional) opinion, this way you're less likely to f*ck it up and find yourself caught short. The second step I'll be taking is to put away whatever I have left at the end of the week, even if its £2.00 so I can build my savings on a continuous basis. Example, I get paid weekly, so on Thursday night I would transfer everything left in my current account to my savings and on Friday when I get paid I can start the process again. I am very fortunate to be in the position of having a fairly well paid job so I will also be looking at setting up a direct debit from my current account to my savings on top of everything I have mentioned above, but this won't be for another couple of months as all my annual bills come out around this time of year so it's a bit too hectic to implement everything at once, however when I do set this up, I think I would aim to get at least £25 a week going to my savings on top of everything else. 

Personally, I feel this would be the best way to start building my safety net and I feel it will be much more manageable than just winging it as I have been for all these years. As always I will keep you updated on how this journey is actually going and I will maintain complete honesty about how I am finding it because there is bound to be a hiccup somewhere for all of us!

As always my lovely readers I will see you in my next post!