Sunday, 30 September 2012

Money, money, money

I, for one, am a girl who wishes that her debit card had no limit or that everything was free.  I wouldn’t need to think about how much I spend or how the hell I’m going to get through the week with only five pounds in my pocket. Recently I have realised how quickly money goes.

I have just started boarding school and have realised that not having mummy and daddy there to grab a fiver off makes life a lot harder than I thought it would. The day when I arrived at boarding school I hadn’t got my debit card yet as it was still being  processed, so my parents gave me some cash to last me two weeks of course it managed to all disappear much quicker than that. How on earth do we get through so much money without realising where it has gone?

As I now have my bank card and have a job, I have had to start to learn to budget myself. I have had to give myself an allowance so it doesn’t come to a night out and I haven’t got any money to spend. Now there are a few simple things that you can do to make sure that your money stretches to infinity and beyond!

The simplest thing you can do is give yourself a daily budget. This could be anything from £2 to £15 depending on your own financial status. Once you have chosen how much you’re going to have as your allowance, you’ve got to keep to it. Can you steal a pound of the next day if you really want that ever so tempting chocolate bar? (Yes, I did read your mind.)  No. You can’t. Well, you can, but you shouldn’t.  You shouldn’t go over your allowance, because this is how the money disappears. A pound here, a pound there and puff it’s gone. You have to find the will power and say to yourself, ‘I cannot have that chocolate bar.’

Another thing I have taken to doing is writing down all my expenses. At the end of every day I write what products or items I have bought and then I calculate how much I have spent that day. I know it’s maths and we all don’t want to do more of that then necessary but if you do this you know how much you have spent and what you have spent it on. It means you can actually see where the money is going.

My personal favourite that is not really for everyday spending is something I like to call the Money Jar. This is for those shoes that you have to have or that holiday that is getting you through the working or school day. What it is is a massive jar. What you do is put all of the coppers and silvers from the end of the week and a few pounds or notes you have,  set aside especially for that next amazing purchase. At the end of every month or every two months you go to the bank and put all the change into the bank account or change it to cash so you can buy whatever you have saved up for. It’s such an easy way of saving money and you do get a lot of money from it. You do, I meant it. You really do.

I hope those tips help, because just with those pennies, even the littlest bits help.

Written by Genie

No comments:

Post a Comment