5 Top Saving Tips for Women | ExpatWoman.com
 

5 Top Saving Tips for Women

Budgeting isn't a skill that the saving savvy are born with, it's a learned habit that you can figure out how to do too

Posted on

1 August 2016

Last updated on 14 May 2018
5 Top Saving Tips for Women

Budgeting is not a skill that the saving savvy are born with; it’s a learned habit, and an effective tool for reaching your financial goals.

By implementing these simple tips into your daily life, you can stay in control of your finances, and reach your savings goals – whilst being surprised at how much you can still afford to treat yourself along the way.

Create a simple budget

Create a budget that is simple and easy to follow. If you plan to save twenty per cent of your income, allocate eighty per cent of your monthly budget to your living expenses including: housing, food and transport, and don’t refrain from including activities like going to the salon, getting your nails done or visiting your favourite restaurant once a week.
 
By intentionally allocating money to each expense category, you can be confident in your spending by knowing that you still have enough left in your monthly budget to put away for a rainy day.

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Keep your eyes on the prize

It’s very hard for anyone to budget just because it’s necessary. Keeping your long-term goals front-of-mind will make you more likely to scale back your spending.
 
Whether you are starting a savings fund for your dream holiday, buying a new home, or preparing for your retirement you can stay focused on your goal, and closer to your budget.

Try this handy savings calculator

Save first, spend after

By setting up an automatic transfer into a savings account as soon as you receive your monthly pay, you can make sure your money meant for the piggy bank, gets there and stays there.
 
If you can’t see it, you can’t spend it.

Question everything 

Question every purchase. ‘Do I need this?’ and ‘does it fit into my budget?’ are two questions you need to be regularly asking yourself. If the item doesn’t fit into your budgeting guidelines you will need to set it aside until your budget can handle the purchase.

Track your spending

Don’t go at it alone, use technology to help manage your money. There are many apps on offer to compare prices, track spending and help you to save your money.
 
You can even sign up for free services to track how much you can afford to spend and save, by putting all of your bank accounts and assets into one place. If it helps you to stay on track, use it!

Store all of your accounts and assets on one platform

By implementing these small, but effective habits into your daily life, you can take control of your finances and get closer to reaching your financial goals. Avoid the painful pitfalls of busting your budget and get savings savvy today!

 
 

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