My Money Saving Secret? I Don’t Have One!

When people hear that I saved £10,000 in a year, the first question they usually ask is ‘how?’. When I explain that it’s been a case of dramatically reducing my living costs, stopping unnecessary spending and making extra money on the side of my full time job, they often seem disappointed by my answer.

It’s almost as if they expected me to say something different. It’s as if they expected this magic solution that they’d never heard of before. Some people, albeit a very select few, have even accused me of lying, as if I have in fact started selling crystal meth or robbing TVs off the back of lorries.

But the truth is, when it comes to saving money, there really are no money saving secrets. Everyone knows how to save money. Everyone knows it’s simply a case of making more money than they spend. The problem, however, starts when we actually try to put that knowledge into practice.

In my mind, saving money is a bit like losing weight. We all know how to do it, yet when it actually comes down to breaking out of bad habits, it can be a real struggle. We want a quick fix. A super fast solution. Waiting for results seems like a waste of time.

A friend of mine recently lost 5 stone. When she posted the before and after photos on Facebook several people were quick to ask “How?” and “What’s your secret?” I couldn’t help but laugh when my friend responded bluntly with “Diet and exercise”.

Losing weight takes patience and it takes determination. Improving your financial situation is the same. If you expect overnight results without putting the effort in, nothing is going to change.

You have to completely change your lifestyle and you have to really want to succeed.

You have to be willing to pick yourself up and carry on every time you make a mistake.

You have to ignore negativity from others. If someone tells you you can’t do something, take no notice of them.

You also have to believe in yourself.

You have to have that end goal in your mind and tell yourself on a regular basis that you can achieve it. If you don’t believe that you can reach your target, you won’t.

You need to have confidence in your abilities or else you probably won’t even try.

So what’s my money saving secret? Without wanting to sound redundant, I’m afraid I don’t have one.