12 May 2016

Why Managing Your Money Is Important | Lets Talk

I'm 21 and this is the first year I have finally started to take my own finances seriously, it's not all about spending all of your money on clothes and make up and food (especially food) it's more about saving for my future. Taking any money I earn and taking a percentage of it away and popping it aside for things I may need in the future, whether this be saving for my future house, car or even a holiday I am still keeping that money away for something I may need in the future and I am happy with that. Did you know more time is spent organizing music collections than is spent sorting out pensions!

For the last few years every penny which I earned was spent straight away and although at times that has to be the case for bills and rent, I am trying to be more conscious with the money I spend and trying to stay out of the red. It's important for to remember although I have student money now and two jobs there will be a point when I don't get that student money anymore and I can't fall back on other people wanting them to bail me out. I have to rely on myself and that time has started now. For this post I decided to share some of my top tips for saving with you and hopefully they help you out in some way or another. Did you know 10% adults don't even review their own finances? 

 Set yourself a budget & stick to it:
The amount of times I've set a budget, and planned to stick to it and within hours I've seen an amazing pair of shoes in the sale and blown a weeks budget in one sitting, it happens we are all human. But it's important to remember that money could be used for something more important. Do you eat lunch out everyday whilst at work? Do you go to the cinema on a weekend? If you want to stick to your budget include it in there, don't feel bad that might be higher at least you're being honest and more likely to live within your means. 

Put money aside (change works for this): 
My biggest tip for this is to get a tin which you can't open unless you obviously use a method of force, meaning you're less likely going to want to go in there. The idea behind this is to get loose change out of your purse/wallet whenever you get home and chuck it in there, the more often you do it the more that it adds up. I have two separate ones, one for anything over 10p and one under 10p that way it's easier to separate out at the end! Once it's full you take it to the bank or a coin star and you've got some extra money for a rainy day.

Do you want it or do you NEED it? 
I am the worst for this, I'll go out and end up seeing things I want and referring to it as needing it and buying it anyways, if you have 50 nail varnishes you do not NEED another, nor if you have multiple jackets or similar t-shirts. Only buy things you need and which you'll use, that way you'll save money cutting out the things you don't actually need. 

Keeping on top of your financial admin is important to stay in the green and be great with money, to secure yourself a money worry future when you hit the age of your pension. The lovely people at Standard Life have created a book full of useful little tips to help with savings and being more money aware. Which you are able to download online and I will also be giving away two copies on my Twitter, stay tuned if you fancy winning yourself one. I hope this has helped give you some tips for saving and you managed to somewhat enjoy it!  

*In collaboration with Standard Life


  1. I am the WORST when it comes to saving/budgeting/impulsive spending! Especially with summer coming up, I always feel like I need a completely new wardrobe!...oops!

    I'll try and follow some of these- great post!

    Claudia xx

  2. Omg.. I have such a had time with saving money. I actually was asked to guest write on someone elses blog about it. I'm currently saving up for a home and I just... am having such a hard time not spending all my money on little things that I don't need. Like that cup of coffee 5x a week isn't great for the bank.

    Love the idea about the spare change!! I have a bowl of it and sort through it if I'm in DIRE need of something minor - but I haven't spent it yet. Really don't want to pay in change... perhaps for me cashing it in isn't a good thing. Lol.

    Lovely post. thanks!

  3. Oh god I need to manage my money better. We bought our house last year we were really strict with budgeting & saving but since we've moved in it's all gone out of the window! I need to get back on track!

    L x


  4. Great tips! I am also terrible with money but I'm hoping that will change as soon as I get a full time job again.

  5. Some great tips here. I also love saving my £2 coins in a jar for something very specific as a treat. It's quite good fun! x

  6. Great tips. At 25 I have only just begun to take savings, pensions etc seriously! x www.aimeeraindropwrites.co.uk x

  7. Great tips. At 25 I have only just begun to take savings, pensions etc seriously! x www.aimeeraindropwrites.co.uk x

  8. This is exactly what I needed to read write now :) I'm currently moving from weekly to monthly pay in work. My first full pay packet isn't until the end of June, so my God have I got some budgeting to do!

  9. When I was growing up my parents always taught us the value of money which has been very helpful. Budgeting is key and learning to say no to things is important. You need to be dedicated or else you could end up in a bit of a downward spiral!

  10. Great tips, it's so important to have some money set aside for emergencies (or just treats!). Luckily I'm a cheapskate and I don't often buy stuff unless I really need it!

  11. LOVE this post!! I'm so bad with my money that this year I am really taking control of it! I'm working my butt off to get rid of debt and also saving at the same time!I have a non openable money jar that I put any silver change into, I'm kinda obsessed with how much may be in it and how far I have to go till I can open it.... I keep shining my phone torch in hahaa - I don't think I'm even halfway but hopefully I'll come out with enough for a holiday! x