Having worked in the financial sector for over 10 years, I am pretty savvy when it comes to money. I can tell you all about children's savings accounts, ISAs, term deposits and even offshore accounts. I think I'm pretty clued up on managing our money and making sure we budget and live within our means. In this day and age, it's really important to have good money sense.
With five months until we head on our first family trip to America, we're saving and we're saving hard. Holidays like the one we have planned don't always come cheap and we knew we'd have to save quite a bit before going in order to get the best out of our holiday. We had to think of ways we could reduce our outgoings and save money here, there and everywhere.
Every month we put a percentage of Husband's salary in to a savings account and any money I earn through freelance work also goes in to the savings account. Right now we're saving our spending money and just waiting for the Dollar exchange rate to hit a great rate before we convert any money. We have an instant access savings account so whilst it doesn't have the greatest interest rate, we can put money in whenever we wish and draw it out whenever we need it.
Aside from that though, it's the little and most simplest things that help us save our pennies. Here are a few of the ways we've been doing it:
- Any coppers or silvers go straight in to our whiskey bottle. We even encourage the kids to do the same if they happen to find a penny and pick it up!
- Loose change or left over change goes straight in the bottle too. If I break a £10 note and I have a few £1 coins left, I'll pop them in the bottle.
- Rounding up! If I spend £24.50 in a shop on my card, I'll pop the 50p in to our savings account.
- Similarly, if my savings account needs an amount to make it a round figure, if I can, I'll pop the difference over from my cheque account.
- Meal planning and sticking to the shopping list. We do, of course, allow ourselves the odd treat or takeaway night but by having a fixed meal planner, we've managed to save on our weekly shop by only buying what we need for the week.
What tips do you have for saving your pennies?