The Money Saver badge was always going to be a bit of a challenge. I’m definitely better at spending money than saving it. However, it’s an important skill to have, especially in the current climate.
Over a period of at least three months actively aim to buy as little as possible
I did this from January to March 2022 to save for my holiday to Japan that ended up not happening (at the time of writing they’re still not letting tourists in). Can’t complain too much, I ended up with a decent amount of savings. However, it’s not an experience I particularly wish to repeat. As far as I’m concerned it’s the non-essential purchases – especially theatre tickets – that make life worth living for me, although I recognise I’m in an incredibly privileged position to be able to spend money on these.
Review all your utility bills and regular payments
I’m limited as to how much I can do for this clause, as my rent includes all utility bills as well as Internet access. I don’t actually have many payments – my union membership, a couple of Patreon subscriptions, my phone (which is only a tenner). I don’t even have Netflix because I use my brother’s account (thanks Chris!). At least I know all my payments are intentional and I’m not subscribing to anything I don’t use.
Research different alternatives for your savings
Martin Lewis to the rescue here! MoneySavingExpert has an excellent section on savings accounts. However, none of these rates match my Digital Regular Saver that I have with my bank, so I don’t need to worry about other savings accounts until I’ve maxed that one out. Once I do, I know where to go.
Find three ways you can save money in your everyday life
- Complete my existing cross stitch projects before buying any more supplies
- Make the most of deals on theatre tickets
- Cook more from scratch instead of buying takeaways/ready meals
Over a period of at least three months learn how to fix at least three different items which you would normally throw away and replace
- I replaced the eyelet on my walking boot instead of buying a new pair (well, I took it to a cobbler’s, but it only cost £2 so I’m counting it)
- I fixed a couple of my brooches and earrings by gluing them together when they broke
- A screw came out of a pair of sunglasses but I managed to screw it back in (thank you to those tiny sets of screwdrivers you get in Christmas crackers!)
Educate yourself about stocks, shares, crypto currency and current trends in exchange rates
This was the hardest clause for me to complete as I knew very little about any of these. I had to do a bit of research. This page on MoneySavingExpert was a good introduction to investing in stocks and shares.
I found this course on Simplilearn very useful for learning about cryptocurrency, and good old Google handy for looking at exchange rates.
Date completed: 8 May 2022