Money saving: How to save £50 during the supermarket shop ‘without any effort’ | Personal Finance | Finance
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Ellie Austin-Williams founded This Girl Talks Money, a blog and financial platform where she shares hers her informative insights. She told Express.co.uk how she saves £50 “without any effort”. She also hosts and the Money Unfiltered Podcast.
Ellie uses certain apps during everyday transactions such as shopping or buying lunch.
The savings apps round up the change, which is saved in a pot.
Ellie told Express.co.uk: “I do withdrawal from Monzo or Starling every so often because I see it as a little treat.
“I regularly won’t go into those accounts for a few months, and then I’ll go into it and see and they’ll be £40 or £50, which is about the time when I tend to take some of it.
“That’s without any effort, or attention, just basically supermarket shopping or going to Pret, these roundups quickly do become a decent amount.”
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She went on: “I am a big fan of using apps.
“There are loads of apps which allow you to save really easily so.
“My favourite is the roundup tool which loads of them have. I personally use Monzo.
“Every time I spend an amount that isn’t a whole number, then it rounds up and puts the difference into another port for you and it’s magic how much you can save without realising it.
There are also some really good apps like Plum and Chip, which are auto-saving.
“They will analyse your bank accounts and your spending and they will basically just pull money from your current account and put it into a savings pot, based on what they think you can afford to save and I think that that’s great.
“They, again, take the effort out of saving, and they make it super simple.
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Money saving tips
Challenges
“I think you can also savings challenges are really helpful,” Ellie said.
“A lot of the time I think having a little challenge can motivate you to focus on saving for even a short amount of time but what I always would say it’s like, try not to see saving as a chore.
“Figure out how you can integrate it into your day-to-day life in ways that are really manageable.”
Savings challenges include challenges such as the 52-week money challenge, in which participants save £1 in week one, £2 in week two and so on.
In total participants can save £1,378 in a year.
Pay yourself first
Ellie said: “And the other big thing is, if you’re trying to save a big amount. Save when you get paid so safe.
“Pay yourself first, lots of people say, figure out what you can afford to save, and do that stock month because then you don’t have to try and make sure you’ve got any money left at the end of the month to save because the chances are you won’t have any left.
“Put your money away first thing, and then you can relax and know that you’ve done your saving for the month.”
Ellie also detailed how much people should save from their monthly salary.
She said: “What I would say as a starting point is, if you can, aim to set aside between 10 and 20 percent of your income for future you.
“So, in a saving account and or investments, whatever that looks like for you.
“If you have more available then, of course, the more that you can set aside for the future, the better.”
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