7 Mantras That Will Help You Save Money*

*This is a collaborative post*

Saving money is never easy, especially if you like to go shopping, go out or just can’t resist blowing your pay the first weekend after payday. The truth is, however, saving is an essential thing you’re going to need to do to be a grown up and save for a house, a wedding and get yourself out of debt. Changing your habits is tough, but fortunately, there are some great mantras you can follow to help you save those pennies and improve your finances.

1. “I will only shop for the things I need.”

Impulse buying is easy to do, and in fact, most shops rely on luring you in to make those impulse purchases. By changing your attitude to ensure that you only shop for what you need, you can help to stop that ad-hoc spending that ends up adding up over the course of the month. If it helps, when you set off to the shops, only take the money you need with you - that will take away the temptation to spend.

2. “I will set myself a budget and stick to it.”

Setting yourself a budget is one of the best ways for you to save money. If you’ve never budgeted before, reading a guide on how to budget can take you through the details. It’s a relatively simple concept; you work out how much money you have coming in, what’s going out and what you have left to live on. Reducing your spending can help you achieve savings targets, but only if you’re willing to stick to it. One of the easiest ways to stick to a budget is to pay yourself in cash every week. Leave your cards at home and make a note of everything you spend to highlight areas where you’re wasting money or spending too much.

3. “I will save for the things I want.”

It’s good to treat yourself now and then, and if there’s something that you desperately want, like a new pair of shoes or a must-have jacket - you should work hard to save for it, rather than resorting to credit. MoneyAware have 101 ways to save money, with some creative ways you can save extra pennies that will soon add up to help you buy what you want. Putting aside a little bit of cash in a rainy day fund is another way you can save some money for treats and luxuries, adding change to it if you manage to come in under your budget at the end of the week. It will be far more rewarding to save for something you want than buying now and worrying about the consequences later.

4. “I will borrow sensibly and only when necessary.”

Sometimes borrowing is inevitable, and although it’s not always recommended (particularly if your finances aren’t in great shape) - there are some instances where you might need to borrow, including short-term borrowing. There are different types of loans available to you if you need credit, including benefit loans, or you could seek help from a family member who won’t charge you interest and allow you to repay in your own time. If you do need to borrow, make sure you do it sensibly, only borrowing what you can reasonably afford to pay back. Remember that failing to make your repayments could affect your credit score as well as increase your interest rates, putting you in a worse financial position later down the line.

5. “I will stop being wasteful.”

Many of the things that will save you money will also save the environment. Using less energy around your home by remembering to turn things off at the mains (not putting them on standby!) and using energy-saving light bulbs will not save you money, but can be better for the environment too. Cutting your shower time in half is another good way to help the environment, with some excellent water conserving gadgets available that will make your shower more effective. However, one of the easiest money savers lies in your food waste. If you can limit your food waste, you’ll help to reduce your carbon footprint as well as save yourself a lot of money on your food shopping. One way to do this is through meal planning, which will help you use up everything you buy and also make it easier for you to eat healthier. These may seem like small changes, but they’ll soon add up by the end of the month, leaving you with cash left over to put into your savings.

6. “I will become better at saying ‘no’.”

We live in a generation where FOMO (fear of missing out) is all too real. You’ll always want to say yes to a night out, a trip or a day of shopping. The problem with this though is that you’ll need a bottomless pit of money to be able to afford to do everything. Rather than trying to please everyone all of the time, start learning to say “no” to invitations. It’s not always easy, but by being more selective with what you say “yes” to, you will enjoy the experiences much more. Set yourself an amount for entertainment and socialising as part of your budget so that you don’t have to miss out on everything.

7. “I’m saving now for a better financial future.”

This is perhaps one of the most important things you’ll need to tell yourself as you try to save money. Taking action now to clear your debts and prepare for your future is an important and mature decision - one you’ll be grateful for years down the line when a healthy bank balance matters. Saving shouldn’t have to feel like you’re punishing yourself, you’re simply making adjustments to put you in a better position in the future. Whenever you lose sight of why you’re saving, remind yourself of what your goal is to help you stick to it.

These short mantras are worth keeping to hand to help make it easier for you to save. If you want to become debt free and have better financial security, then developing some good saving habits can help you achieve this. Start using these mantras today and start helping yourself to save money.

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