Help - Saving for a new camera!

joehandley2

I need help saving for a new camera. By help, I do not mean 'send me money'... I just mean, I need tips and advice on how to start saving! I've always been a big spender, and I mean a BIG spender. I can never seem to save a penny, and even if I do manage to save a little, it is usually spent fairly soon. Money just burns a hole right through my pocket!
Now, I get £20 per month, and I get around £160 for my birthday. I receive £60 in December, and I would say I make £30 extra money in about nine months altogether. If you have not already worked that out, I will have 'saved' £430 by next July... If I manage to!

The camera I want to buy (I don't think I can actually name it... Forum rules) costs £350.

Now, I am hoping to have it for next July, but I desperately need advice and techniques on how I can actually save. Is there any way of locking bank accounts for a certain period of time? For compulsive shopaholics like me? Or what about 'save a little, spend a little'

Many thanks! Joe

agrinnall

There are accounts that will not allow any withdrawals until a set date, but I'm not sure if any of them let you make regular deposits. Perhaps a better option would be a notice account, where you can make withdrawals but only if you give (for example) 30 days notice. Building Societies often have these, and if you get a passbook account that has to be operated in branch it would make it even more difficult for you to get at the money before you really want to.

Florasaurus

I would in this situation give it to your parents, just make sure you keep track of what you've given them - My sister's 18th present of £3000 went into my mums account and she ended up spending it on another house!!

But yeah, if they're willing to help then give it to them, Mums aren't pushovers + if you tell her you're saving it to buy a camera + to not let you have it until you've reached enough to buy a camera, that should work

Dunroamin

You don't mention doing any work to earn money - that'll be the best way of saving.

paulharding150

Open a basic bank account pay little bits in and cut up the card/cheque book.

mountainofdebt

A work colleague of mine gave up smoking and as a motivator, she put all the money she would normal spend on cigarettes into a clear jar - not only did it do wonders for her health, it scared her as to how much she was actually spending on her habit.

Do you have a similar habit - perhaps not smoking but per haps a daily starbucks? Instead of buying that starbucks or newspaper, put the money into a jar and see it mount up.

The other thing you could do is get one of those money tins you need a tin opener to get into (usually in poundshops) and put the money in there.