How to Save Money Fast in 2021 UK | 5 Tips I used to save £20,000 in 12 Months

In this video I explain 5 of the most effective and easy to use methods that I used to save over £20,000 in the last 12 months alone, and how you can use these tips to get into great financial shape in 2021!

If you follow just one of these money saving tips consistently, I’m confident that you’ll start to see some big improvements throughout the year!

I touched on the benefits of using a credit card in this video – one of the cards I personally use is the British Airways American Express card which awards one Avios (air mile) per £1 spent.

There’s no annual card fee and the reward points build up quickly! I’ve included a referral link below which you can use to RECEIVE 6,000 BONUS AIR MILES when you spend £1,000 in the first three months!

Sign up here: http://amex.co.uk/refer/rYANGX6NS?XLINK=MYCP

If you’re interested in checking out the gear I used to put this video together, I’ve included some links below:

Camera: https://amzn.to/3n5s57C
Lighting: https://amzn.to/38bRgRI
MacBook: https://amzn.to/3ooAfcV

The 5 savings and money management strategies that I discuss in this video are:

#1 – PAY YOURSELF FIRST

The first and arguably most important point! Paying yourself first means deciding EXACTLY how much you are committed to saving each week or month, and then ensuring you hit that goal consistently by paying yourself (i.e. your savings or investments) before you pay ANYTHING else – even rent!

It’s SO IMPORTANT to prioritise your personal finances and financial wellbeing over impulsive or unnecessary spending and using this approach will ensure that you do just that!

#2 – CREATE A BUDGET

This one sounds simple enough, but the unfortunate truth is that it’s often overlooked.

Creating a budget will give you COMPLETE CONTROL over where your money is going every single month and will highlight areas where you might be overspending.

Have you ever reached the end of a month and wondered where all of your money went? YOU’RE NOT ALONE! It’s so easy to get carried away with little purchases here and there throughout the month that all add up to a lot of money! Budgeting will help you to put an end to that once and for all.

#3 – SEPARATE SPENDING ACCOUNT

This is a little tip that I find EXTREMELY helpful. Once you’ve completed your budget and decided exactly how much money you’re going to give yourself each month, the BEST thing you can do is to use a separate account to fund those expenses.

Ideally, you should be using a credit card for all of your monthly spending – not only do you receive credit card reward points (which will vary depending on the card you use), but you’ll also build up a good credit score (as long as you pay your balance off in full each month!) This will be REALLY IMPORTANT when you look to borrow money in the future, for example for a mortgage.

Remember to phone up your credit card provider and ask them to change your credit limit to match the budget that you have set yourself – that way you won’t run the risk of overspending!

If credit cards really aren’t your thing, then I’d suggest transferring your budgeted amount into a separate bank account and using that account to pay for your expenses instead!

#4 – AVOID LIFESTLYE INFLATION

As a rule of thumb, it’s fair to say that when we earn more money, we tend to spend more money too… BUT IT DOESN’T HAVE TO BE THAT WAY!

Next time you come into some money that you weren’t expecting, whether that’s a pay-rise, a Christmas bonus or even some money in a birthday card, why not put that money straight into your savings? Just think of how much faster you could reach your financial goals!

#5 – RULES FOR IMPULSE BUYING

This does take some willpower but allowing yourself a day or two to think through any impulse purchases that you may want to make can really work wonders on your finances!

This cooling-off period will often show you that you don’t want that item as much as you thought you did, and when that happens you can transfer what you would have spent straight into your savings… you were going to spend the money anyway!

The happiness produced by impulse buying tends to be linked to the thought of buying the thing you want, rather than the act of physically buying it!

By taking some time to think it through, not only will you spend more time thinking happy thoughts, but if you decide not to buy it you’ll get to pocket the money you would have spent too! Now that’s a win-win!

I really hope you found this video helpful, and if you did please be sure to give it a like and subscribe to the channel for more videos! Thanks so much for watching!!

*I may earn a referral bonus or affiliate commission through some of the links that appear in this video description. The offers referred to are correct at the time of posting but do be aware that some offers may no longer be available.

Видео How to Save Money Fast in 2021 UK | 5 Tips I used to save £20,000 in 12 Months канала Ryan Gibson