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Practical money-saving tips

 
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#0 Practical money-saving tips
 
25 year-old millionaire
14.01.7 00:00
 
Hi guys, unlike my name suggests, I'm skint! I work as an analyst for a MBBB firm, but despite this I only earn about 10K per year more than a secretary. Take off taxes, etc and we're talking a 6K difference max. So, I'd really appreciate any tips you guys might have for how I can cut corners and save a little cash each month.I've worked through my budget, but cannot easily see any areas where I can significantly reduce my outgoings. It freaks me out when I think that I'm an Ivy League MBA with excellent credentials, I work 80 hours per week, and I supposedly work for one of the top firms in the sector, yet I'm struggling to pay the rent on the place where I live which isn't really much better than a run down little council flat.
 
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#0 RE: Practical money-saving tips
 
Prudence
14.01.7 00:00
 
1. Get a house share rather than your own flat.2. Investigate what "stealth benefits" you can award yourself by making sure that anything your company will pay for, they do - mobile, home internet connection, professional subs, eye tests; these are but the tip of the iceberg.3. Be rigorous about expensing everything.4. See how many lunches etc you can get.5. Get as much travel in as possible, whether this just ends up covering the commuting cost by reimbursing a travel card or takes you out of London. If you're away and in hotels then you shouldn't really be spending anything. Make sure you claim any allowances or per diems. Think about cycling.6. Avoid w*nky bars at the weekends, esp in the West End. Convince friends that Shoreditch is better (East End bars are cheaper and do draught) or better still that "young fogeyism" is the new thing and that a couple down the local is more fun.7. Ditch the girlfriend.8. Do the usual with your bills for utilities etc.9. Buy proper food rather than ready meals or take aways.10. When you have failed to get lunch paid for, avoid buying your own expensive sandwiches. They are a rip off. Make your own if you can be bothered, otherwise find a cheaper option, try Sainsbury Locals, Tesco Metros etc for other sorts of food.11. Avoid buying overpriced coffee-flavoured hot milkshakes. Tea is a better option and usually free at work.12. Ditch expensive gym memberships.13. Suits do not require dry cleaning very frequently.14. Read Metron on the way to work rather than buying your own Times or whatever. There should be one at work to read / nick for the way home.15. Get promoted!As you may be able to guess I was once working and living on very little, probably less than half of what you earn now. Most of the above have proved helpful at one time or another! None of them are much fine, mind - except the last, which is definitely the best option.
 
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#0 RE: RE: Practical money-saving tips
 
Prudence
14.01.7 00:00
 
Much fine? Make that "much fun"
 
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#0 RE: RE: RE: Practical money-saving tips
 
25 year-old millionaire
14.01.7 00:00
 
Prudence, you are the best. These are FANTASTIC ideas. Thank you.Right off the bat I've decided to follow your advice and make my own sandwiches for the week ahead! That's a £40 per month saving straight away!I want to cancel the gym, but will need to find other ways to stay fit. I think I'll invest in some dumbells and basic kit.And from now on I'm going to schedule expensable meetings to try and cover my commute cost. What a great idea!
 
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#0 RE: RE: RE: RE: Practical money-saving tips
 
tc
15.01.7 00:00
 
Get yourself a copy of 'The Money Diet' by Martin Lewis. In the meantime check out www.moneysavingexpert.com
 
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