If we’re keen to start putting some money away for a rainy day, there are a host of social media saving trends we could try
It’s always easier to save if we have some sort of plan in place and there are a host of social media saving trends that are both simple and effective.
Quids in! has trawled social media for the hacks that have really taken off.
If we want to start putting money aside for the future, this could be just the prompt we need.
Cash stuffing
Cash stuffing is simply about setting aside money for all our various expenses.
We plan out how much we’ll need for each category, for example bills, food, holidays or treats.
Then we put the amount we’ll need into labelled envelopes and keep all the envelopes together in a folder.
It’s said that cash stuffing can discourage us from impulse buys because our brains don’t want to take money from the ‘wrong’ envelope. But the flip side is we’ll miss out on any interest the cash would have earned in the bank. Learn more: BudgetsWithBeth on TikTok
Loud budgeting
This is all about becoming more honest about living on a budget.
It’s the brainchild of TikToker Lukas Battle, who wants us to behave more like the ultra-wealthy. That is, be proud of being frugal and saving cash! “It’s not, ‘I don’t have enough,’” he says. “It’s ‘I don’t want to spend.’”
It could help us keep on top of our money by giving us the confidence to say no spending without feeling shame or guilt. Talking about money can also help us relax about it and ease anxiety. Learn more: #loudbudgeting on TikTok
No-spend challenge
As the name suggests, this involves setting a time period when we’ll cut out all non-essential spending.
It can be a very flexible way of getting our finances on track, especially after a period of high spending such as holidays.
There aren’t really any rules, but we might find we stick to the challenge better if we have a solid plan in place. For example, we might want to set a really strict regime for just a few days.
Or we may want to limit the no-spend challenge to something like takeaways, but keep it in place for a longer period. Learn more: abundant.budgets on Instagram
Quids in! has a free online budget planner tool, which can be really helpful for making and sticking to a spending plan.
Image: Keira Burton / Pexels
