#TalkMoney Week Small Change Challenge

 

It’s #TalkMoney week and, with lockdown, the furlough scheme and redundancies, we know that many people are finding times particularly tough. Take a look at our ‘small change’ challenge, below, and see if there’s anything you could change to make things a little easier.

Saving even a small amount of money regularly can build up and help you when you most need it. Think of something non-essential that you spend money on during the week and then work out how much you could save by reducing this spending. Take a piece of paper and divide it into columns: Item/Cost per week/Cost per Year/What would you buy with that money saved?  Here’s an example:

Takeaway coffee: Cost per week: £10.50 / Cost per 52 weeks (1 year): £546.00 / I’d take driving lessons

And here are a few examples of the things that may make your list:

Magazines

Cigarettes

Takeaway meals

Makeup

Online purchases

Lunch at work

It’s easy to see how it builds up isn’t it?