I’m a budgeting whizz – five things you need to stop doing if you want to save
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A BUDGETING whizz has revealed the five mistakes people often make that are stopping them from saving money.
So if you want to get better at saving, you’ve come to the right place.
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Sharing her advice on social media, the “20-something girl” who is trying to get her “money s**t together”, explained the “five money traps you should avoid”.
Not only does she claim the ‘buy now pay later’ services, such as Klarna, should be avoided, but she also revealed you must stop being influenced by those online.
The savvy saver explained: “Being in your twenties is hard and being on your financial game is even harder. Here are some things that help me keep on top of my finances.”
“Stop being ‘influenced’ by celebrities”
Sharing from her own experience, she penned: “For example, I was buying £15 sun cream last summer because I saw loads of TikTokers promoting brands like La Roche Posay.
“But it’s just suncream, I should have just bought these ones [£2.79] in Aldi.”
“Impulse spending”
She said: “I’m still really bad at this sometimes. I know I’m bad at spending when I’m bored/sad.
“So, I try to wait 48 hours after seeing something I could potentially buy as by then the serotonin effect has worn off.
“I’ve found that after I wait 48 hours I don’t end up wanting it anyways as I was just buying [it] because I was in the feels.”
“Leaving your money in your bank account”
She said: “I wish someone told me this sooner, but you are actually losing out on money by leaving your money in a bank account.
“Here are some alternatives: investing, premium, bonds, ISAs, emergency funds, side hustles.”
‘Buy now, pay later’ services should be avoided
The bargain hunter also shared her thoughts on “using buy now, pay later” services, as she wrote: “If you can’t afford it, don’t buy it now.
“Try not to fall into this trap as you get addicted to the ease of buying.
“Also this could damage your credit score if you don’t pay off your bills.”
Number one spending rule
Finally, the social media user shared a piece of advice she swears by, as she advised people not to buy anything “if you can’t afford it three times.”
She concluded: “This is a rule that I use to buy things (apart from a house lol).
“So for example if I’m looking at buying a car or an expensive top, I try to judge it on if I can buy it three times over.
“This is just a rule that helps me think more crucially about what I spend my money on.”
The TikTok clip, which was posted under the username @thatbudgetsavvygirl, has clearly left many open-mouthed, as it has quickly amassed 199,700 views.
While social media users agreed with her advice, not everyone was on board with her final hack.
One person said: “I agree with all but the buy three times over one. There’s not many people in their 20s that could buy a car 3 times over.”
Another added: “The buying x3 is such an outdated theory it sadly just doesn’t work anymore. That would mean some people couldn’t even afford to live.”
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