Mum-of-one to save £600 this month with ‘no spend January’
Martin Lewis explains the 1p savings challenge
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Sophie Bradbury, 24, is taking part in no spend January, a challenge which involves cutting out all non-essential spending. This means she will only be spending money on basic needs such as bills and household costs, shopping, transport and emergencies.
The full-time mum and blogger, from Brighton, said: “We are saving to go on holiday, and I looked at our spending.
“We were spending hundreds on things we don’t need to. Before I started budgeting, I wouldn’t even look at what I was spending, I was scared, but now I look where every penny’s going, and I save hundreds.”
She expects to save £600 this month thanks to the savings challenge. She recommended those taking part could go through subscriptions and cancel, or even pause non-essential ones.
Another tip from Ms Bradbury was to delete all shopping apps and instead of buying a wanted item, to write down a ‘want’ list instead.
She said: “No spend January is about encouraging everyone not to spend on non-essentials, to save money, make money or even just to declutter a bit to facilitate that.
“I’ve made a calendar of tasks to do every day, and although it’s just one month, it can make a huge difference and set you up for a good year.”
The frugal mum is sharing her money-saving journey on social media, and she plans to spend her £600 savings on a family holiday later this year.
Participants are allowed to spend money on petrol but Ms Bradbury will be cutting down on her car usage for the month.
She will be walking to post parcels instead of driving, taking her two-year-old son with her, even though this will double the time it takes to do this.
Her top tip is to inform family and friends if one is taking on the challenge, to get them on board with the project.
The blogger, also known as the Millennial Mumma, said: “I found telling my friends and family that I’m doing it was really helpful, since it came out so many people said they were going to do it too and it takes the pressure off and stigma away.
“You don’t have to say no to dinner or anything like that and you can find fun ways to do it together.
“I also have a ‘want list’, so when I want something I write it down instead of buying it, and nine times out of 10, the next day I would’ve forgotten about it.
“Subscriptions as well are so important to double check. They come out on your bank statement just under ‘Apple’, but when I looked I for some reason had a Duolingo subscription amongst other things I didn’t even realise.
“If I can, I also pause subscriptions that I can live without for a month. There’s, of course, other important things, like meal planning is essential, and it’s also good to make some money from decluttering your wardrobe or doing online surveys.
“It’s lots of things people might not have thought to do before but can make such a difference.”
Another tip from the savvy saver is to keep track of spending on a spreadsheet, and to keep up this practice throughout the year, so money can be saved and spent on what a person really wants.
The full list of her tips include:
- Keep a spreadsheet to track every penny
- Make a meal plan
- Tell friends and family about the challenge to get them on board
- Make a ‘want list’ instead of buying things
- Double check and cancel subscriptions – even if just to pause them
- Walk more rather than drive to save petrol
- Plan fun, free activities
- Sell clothes online to declutter and make some extra money.
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