What’s the ONE Money-Saving Habit That Changed Your Life?

n15h

kimwp said:

n15h said:

When i first started working full time and was building savings for house deposit, I read somewhere that if you wanted to buy something impulsive, can you afford to buy 3 of the same item? If no, walk away and don't think about it till you can afford to buy 3. If you can buy 3, what have you been doing until now without the item?

That was a shift in my mindset that helped build stronger saving habits and think twice about impulsive buys.

What do you do if you can buy three to start with?

Ask yourself what have you been doing until now without the item

mebu60

HedgehogRulez said:

Marry into money 

And subsequently divorce them? 

"I am a marvellous housekeeper, every time I leave a man I keep his house", Zsa Zsa Gabor, 9 husbands in total. Think that counts as a habit! 

Beddie

 (Removed by Forum Team)

I'm clearly not talking about capital investment, but cars, holidays, kitchens etc. As someone who has made a large amount of money using BTL mortgages for leverage, I obviously know the difference. 

Not sure why you picked on me to argue a point, it's just a reply to the OP, nothing worth having a debate about.

Stolas

Opening an easy access savings account and putting everything into it come pay day. Then I only moved out what I needed into my current account when I needed it. 

It got me into the habit of saving, and also encouraged me to spend a bit less to leave as much money earning interest as possible. 

Now that I’m more secure, I’m happy to lock money away in regular savers, ISAs, etc 

gwapenut

When IR35 contractor tax came in, I decided to avoid tax by stuffing as much into my pensin as necessary to keep below the higher rate limit each year, rather than play silly games to evade IR35.

It taught me to live moderately, and now I have retired at an early age with a very healthy pension.

kimwp

n15h said:

kimwp said:

n15h said:

When i first started working full time and was building savings for house deposit, I read somewhere that if you wanted to buy something impulsive, can you afford to buy 3 of the same item? If no, walk away and don't think about it till you can afford to buy 3. If you can buy 3, what have you been doing until now without the item?

That was a shift in my mindset that helped build stronger saving habits and think twice about impulsive buys.

What do you do if you can buy three to start with?

Ask yourself what have you been doing until now without the item

Ah ok. I like to think -what do I have that already achieved some of what this item does and does lack of that extra functionality justify the expense. But it's less catchy.