Good Habits for Saving Money

I know that lots of people find it hard to save money. I know that for some, it’s not always possible to put money aside. Whatever your situation, you’ll still benefit from observing this list of good habits for saving money that I’ve put together.

Having a rainy day fund is important, take it from someone who hasn’t always had one. There will be a day that you need to spend money that you haven’t budgeted for and debt is a less favourable option.

This post will cover those habits that can help you change the way you manage your money. I won’t be advising on where to invest yet as I haven’t researched it enough to give a fully-formed opinion.

Good habits for saving money

First things first, take a long, hard look at your finances. Break down your spending into categories. The first category is the compulsory spending with no wiggle room (think: rent). The second category is compulsory spending that you might be able to reduce (think: utilities, car insurance etc). The third category is leisure spending, things where if pushed, you can do without (think: coffees, magazines, meals out).

Reduce your leisure spending

Maybe you can’t live without your Saturday pre-work coffee, but perhaps you can enjoy your Wednesday afternoon stress-out coffee in your staff room instead of Starbucks. Money that you spend ‘as and when’ can be the biggest drain on your wallet. Try to budget for these little treats by having a set amount in cash on you. Once the cash is spend, you’ve exhausted your budget. This helps you to make much wiser choices.

Reduce your bills

Shop around. Switch supplies. Negotiate cheaper deals with the companies you already love. There’s always wiggle room. Work out how much you’ve saved and put that money aside. This can be the pot that starts your rainy day fund.

Save first, spend second

Once you know how much you can afford to keep aside each month, put that away first. That way you won’t be tempted to spend any money that’s just sitting around in your account. Telling yourself you’ll save what’s left is a big mistake. There’s never anything left.

Good habits for saving money

Meal plan

You don’t have to be super organised. You can just write down a few ideas of what you’ll be cooking during the week, then make a shopping list and stick to it. If you go to the supermarket and do some freestyle shopping, you’re bound to come away with all sorts of  exotic things, as well as empty pockets. Stick to the plan and save.

Plan, plan and plan some more

You want a holiday? Save your spending money first, then book it. Start saving (or buying) for Christmas immediately after the big day. The same goes for the summer holidays and school uniform shopping. Start putting money aside as soon as you possibly can, you know these things are coming, don’t let them sneak up on you. They’re not a surprise. Planning better will change your life.

And finally, do your research!

It’s not up to me to tell you where to keep your money. I haven’t made my own mind up yet so it wouldn’t be fair for me to advise. What I will say though is it’s important to keep your savings in a separate account. If you’re unsure what to do while you figure things out, I would suggest speaking to your bank and using an account that gives interest but also easy access to the money. That way, you can move it easily once you’ve decided where it will go.

Do you have any good habits of your own to share? What do you to help you save?


  1. All these tips are great, and I do use all of them. A few years back we went from two incomes to one, so finding ways to save money is something I’m always doing. The biggest money saver for us is to eat at home, instead of eating out. It takes a bit more planning, but has really helped save money!

  2. When I left my career behind post kids, being the main breadwinner we went from a huge household income to a very small one! I’ve been using a lot of these tips for some time now, but I must admit I have loosened the reigns a little recently and want to get back on track. The best thing I used to do was give myself a weekly purse amount, draw it out in cash and when it’s gone, it’s gone. When you can see it diminishing, you definitely think twice! #RV&HT

  3. Hi! This is such great advice as I am not very good at budgeting! It will be really helpful to sit down and look carefully at all our outgoings to see where we can save. Thank you!

  4. I use what I like to refer to as ‘the envelope method’ – every so often, stick some money (a spare fiver or whatever) in an envelope (preferably a brightly coloured one so you don’t chuck it out by accident,) and forget about it.

    This is my emergency/saving fund. You’d be surprised how much you can accumulate just by putting the odd note in the envelope and forgetting about it until it’s needed!

    I also save up my change, and then sort it, and change it at the bank instead of in a coin machine; it takes more time, but you don’t have to pay commission! 😉


  5. Great tips. I keep all of my savings on a spreadsheet and plot a graph as my savings (slowly) increase. I find this quite satisfying and it motivates me to spend carefully. Pen x #RV&HT

  6. I think we do so well with not spending loads but then we always end up with very little each month. I think it’s just the times and mostly food costing so much #RVHT

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