Thursday, 8 November 2012

Piggy Bank

My friend bought me this decorate-it-yourself piggy bank for my birthday. I decorated it (#stereotypicalblogger) and it got me thinking...

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Where does all my money go?

I thought my now I'd be wearing designer clothes and swinging a Mulberry bag from my arm rather than having £5 in my bank account the day before payday. I have a job and I'm a "proper adult" but I still haven't developed an adult's approach to spending.

Yes, there's rent, bills and the dreaded income tax but there also the not-so-necessaries. Going into Boots for some cotton wool and coming out £30 down (without even buying the cotton wool), impulse buys, sale "bargains" that I'll never actually wear, "bad day" purchases...I could go on.

So I'm not on a bit of a money-saving drive. I really want the satisfaction of treating myself to something nice and knowing that I haven't wasted money on rubbish that I don't need. One good purchase is worth way more than ten trips to H&M or Primark. I've done some little money-saving sums to inspire me.

Spending: Two Diet Cokes at work every day = £1.20 per day = £282 per year
Saving: See by Chloe Bag = £275 

Magazines: Elle and Glamour every month (plus a few others sneaked in here and there) = £10 per month = £120 per year
Saving = Alexander McQueen McQ Tartan Pouch = £120 
The good news? I have almost totally stopped buying magazines (aside from Glamour this month, shhh). The bad news? I am pretty addicted to Diet Coke so don't think I'll be giving up on that anytime soon but just thinking about how much the "little things" add up has really made me re-consider my spending. That said, I still need to live and don't really want to be sat at home in head-to-toe designer clothes eating beans on toast because that would be no fun. I guess its about finding the right balance between day-to-day spending and treat purchases. 

How do you motivate yourself to save? 


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13 comments

  1. I always want to start saving up for a nice hand bag but life gets in the way! What I do save though is ALL of my change, anything smaller than a 50p goes into a saving jar and periodically I get to spend that on 'treats'. At the moment I have about £20 in change which I'm thinking of spending on a treat from Mac. x

    Angelica [One Little Vice]

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  2. I'm a student so luckily(?) enough I don't earn enough to get taxed, but my company has only just changed my tax code so I'm used to 20% income tax being taken off, so I've set up a direct debit to my savings account to put aside that 20% every month, just have to decide what to spend it on now! xx

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  3. I LOVE piggy banks, and decorating things yourself always makes them seem more personal! Seems crazy that having two diet cokes everyday for a year costs you £282, absolutely ridiculous! Good luck with saving!! x

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  4. I'm saving up for a nice handbag too! The aim is to put £100 or so every month until my birthday! I think I need to start controlling on day to day treats for myself. I feel every accomplishment I do deserves a treat: 'Oooh, I've just taken an outfit picture - I deserve new shoes', haha!

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  5. I can relate, but this is such a cool idea.

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  6. I bought myself a nice bag with some birthday money and to say congratulations on being promoted but I do try to save!

    Maria xxx

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  7. Lily, I love the money saving theme of this! How about these tips:
    1)Go to Bodycare - http://www.bodycarestores.co.uk/ - not Boots
    2)Swap Aldi for Sainsburys (obviously)
    3)Go quiet when it comes to paying the bill for that group meal, and if anyone asks insist you've already put a £20 in - didn't you see? (controversial)

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  8. I love your 'fashion maths'. I think you're very right, but its hard to get yourself to save and rein it in when you're not used to it! I've never been great with saving, I'm very impulsive too. But I did save up for a Mulberry Alexa and since then I've noticed I haven't bought another day bag since! The quality and joy from using it is better than a 100 cheap bags that I used to buy. I kept a picture of it on my work laptop screen saver when I was saving up to try and stop myself going out and wasting money. If you want to do it, you'll do it! xxx

    www.allthelittlepieces-blog.blogspot.com

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  9. Love this idea! I just became your follower # 667 as it seemed unlucky not to follow ;P I often wish I found it easier to splurge on luxe items rather than the millions of little things that crop up in the meantime and steal away your cash.

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  10. it's the little things that count! like calculating how much you spend on drinks and food out, it adds up to be soo much!

    http://naomijadex5.blogspot.com

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  11. haha good luck curbing your diet coke addiction! I like the idea of this, I keep thinking I should make my own lunch instead of spending £4 in the canteen everyday. The savings would add up pretty quickly

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  13. I know the feeling in Boots, so much money frittered away on nail polish that I haven't even worn yet! Good work on the magazines, I think I have managed to give up on almost all except for Vogue. I wish you much Mulberry for the future :). x

    P.S. sorry for the deleted comment - it said it was from unknown! And I didn't want to be unknown :P.

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