How managing your money can help you live your best life

You know the feeling: you've spent all your money on necessities and there's nothing left in your bank account at the end of the month. You can't even afford to go out with your mates, right? Well that's where you might be wrong - watch as Ibz shows Sidal some tips to help her save for a night out with her friends.

  1. Physically writing down what you're spending, and why, will help you understand where your money is going. You'll be able to see where you're spending money you don't need to (that morning coffee every day, anyone?) and what you could cut back on.

  2. Draw out real cash! This means you can physically see the money you’re spending, and the money you have left. If you set yourself a budget for the day or a night out, try taking just that amount of cash out. If you have to go to a cash machine, you know you’re spending more than you planned to!

  3. Use a mobile banking app to track what money you’re spending and where. Check them regularly or set up notifications – some even send you updates via text or social media

  4. Try the 14-day-rule to avoid spontaneous buying! If you spot something expensive you want, give it 14 days before you buy and see if you still want it. If you do (and you have the money) great, if not, you’ve managed to save a small fortune!

Small changes like these can really help you spend less on the things you don’t really need, and save for those all-important social occasions.

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