It doesn't matter what stage of life you're in, we all know it's important to save for a rainy day. You never know when you might need a bit of extra cash to go towards your rent, to pay off a chunk of your student loan or to tide you over until payday; we've all been there.
It's so easy to live paycheck to paycheck, what with the cost of living being so extortionately high. And yes, saving is tiresome and it can be painful trying to scrimp when there really isn't any wiggle room for scrimping.
So here are our 5 creative ways to save for a rainy day and take the hassle out of creating a slush fund.
1. Start a piggy bank
If you never had a piggy bank as a kid, get one as an adult. At the end of each day put all of your loose change from your pockets, the bottom of your bag and down the back of the sofa into it.
It's amazing how quickly that shrapnel adds up. Pay it into the bank at the end of each month, or put it towards your food shop or alcohol bill.
Take delight in paying for your beer at the cornershop in 5p and 20p coins - you've got to get your kicks somehow.
2. Fun budgeting
Ok budgeting is never fun. But it is when you budget to have fun. Stick with us!
Start out by dividing your income into three piles - one for living, one for saving and one for fun. Use Loot.io to help you set that budget if you want, and then try to beat it each month.
With any money you don't spend on either living or fun, transfer into your savings account. Think of this as 'free money', seeing as it was earmarked for spending, and watch your savings grow quicker than expected.
3. Trim off the fat
If you don't have that second column for savings just yet, don't panic. You can create one by trimming off a little from your living of fun pots.
- Do you really need to take an Uber every time you go out?
- Could you hop on the tube, at least one way?
- Or, how about start a supper club and invite your friends over to eat in at yours, rather than go out, then get them to return the favour?
4. Hit up ebay
Sell items you really don't need anymore. Embrace your inner Marie Kondo and if you don't love it, lose it.
Go through your wardrobe, your kitchen, your living room; part with clothes, DVD's, books, electronics, saucepans - it's amazing what clutter you've been hoarding since you were a kid.
And if you sell something and later realise you still need it, don't buy a replacement brand new one, go second hand.
5. Get a side hustle
Everyone is doing it, so figure out what yours could be:
- Are you good with words? Become a freelance copywriter
- Can you code? Freelance coder
- Is shopping your bag? Sign up to be a mystery shopper
- Love clothes? Get a retail weekend job
- Sociable? Work in a bar
You get the idea.
Not only will it help bring in a few extra pennies, but you'll build up your CV and work on your soft, transferabble skills whilst you're at it. Just make sure your side hustle doesn't compete with your day job and you'll be fine.