One young woman has shared how she managed to save thousands in one year by following this simple routine.
Even though she is based in north London and has to pay off her student loan, Ivie, 24, managed to put away £9,000 last year by implementing certain routines into her life and finances. Ivie takes a slightly different approach to her money than many others in her generation. One of the most popular trends to arise is "Girl Math" which has taken TikTok by storm.
Ivie told the Mirror that the concept of Girl Math is justifying or rationalising impulse-spending habits by "cancelling things out" noting that it was in the same vein as buying some with cash rather than on your card. She explained: "So let's say you preorder and pay for a book weeks before it comes out when you eventually get it, then essentially you haven't really spent any money."
Instead of this mindset, the 24-year-old HR worker said she takes on the opposite which has been coined as "Anti Girl Math". Using this mindset, Ivie says it helps her manage her income better and allows her to put away each month - but still lets her enjoy her money. In particular, Ivie's "Anti Girl Math Payday Routine" is her main tip for overseeing her spending. Ivie added: "It's Anti Girl Math as it involves planning and thinking, rather than the living in the moment spending."
Ivie shares her advice on her TikTok page @itsivie_ to help others with their savings journey (Ivie)For the last five years, Ivie says she has sat down and budgeted the money she will receive before her pay comes in, explaining: "I don't make this too complicated, I literally use my notes page on my phone. I then write down the month and then all the expenses I have on each line.
Former McDonald's worker shares best money-saving hack - but there's a catch
Lines of attack
"The first line is rent and bills, this includes things such as Netflix and energy, which I take off from my overall pay. Then I put my travel, so how much I am budgeting for travel costs that month and take it away. Then food, I meal plan so I don't overspend and then how much I want to save that month. Whatever is left is my enjoyment fund. I just like to have a plan in place for when my pay does arrive."
Ivie says these plans do change each month depending on what's going on in her life, for example, a friend's birthday or a trip. She added: "If I've gone slightly over the money I've allocated in the previous month then I'll adjust it accordingly."
Ivie is working hard to put money away as her goal is to buy a home one day with her partner. Currently, she has three savings pots, the first is a Lifetime ISA, which she aims to max out each year to get the Government bonus, alongside a stock and shares ISA. Ivie also has an emergency fund which is available for her to fall back on if she needs it. Across all her savings pots this year so far she has managed to put away £4,800.
Although it may not sound it, Ivie says she only tries to be strict "to a point" and does allow herself to be flexible when she wants to, explaining: "I never want to penny pinch so much that I am not living and enjoying myself. For example, over the winter I stay in more and can save more. In the summer I try not to be too regimented because London is such a vibe when the sun is out, so I want to go out more which means I'll spend more. It's seasonal but I do try to not spend too much over."
Ivie says her routine is more flexible and she still allows herself to enjoy her money (Ivie)Treats
Ivie also allows herself essential treats, so things she enjoys for herself such as getting her nails and hair done adding: "Honestly what I live by is what I call 'picking your bougie' which is picking the stuff you always want to spend money on. I will always find money for food and drinks, but I might not spend loads of money on clothes." She also notes that she is not perfect and has majorly blown her budget on occasions but when it does happen, she brushes herself off and moves forward.
Ivie says usually when she spends more it hits her savings, as she won't put as much away the next month. Usually, Ivie says she aims to be putting £800 to £1,000 away each month but this can fluctuate depending on what is going on adding: "Six out of the 12 months of the year, I'm putting this away I would say. Some months it can be nothing but It's probably between £500 and £600 on average."
Key tip
For others looking to try and save a bit of cash this year, Ivie says the main thing you should try to do is be "consistent". She noted that a few years ago, she wasn't able to put away as much as she could do now, but as she put a little bit away each month her savings "snowballed". She said: "I started with very little, it was a very small amount each month that I could put away. But because I was consistent with it it has picked up. This is a key motivation for me to continue going. That's my advice to others, start with whatever you can, like £5 or £10 a month, and just keep at it."
Alongside this, Ivie says of course you do have to enjoy yourself but sometimes it will be important to be a little stricter. She added: "I'm not saying you shouldn't buy your matcha latte on your way to work, because those things do make you wanna get out of bed. It's just making sure whatever is left over, you can put away." Ivie shares her money saving plans and techniques on her TikTok page @Itsivie_ in the hope of helping others with their saving journeys.
Amy Knight, personal finance expert at NerdWallet UK added: "Focusing on your financial priorities might mean rethinking your approach to 'girl mathing’. Over time, what might seem like harmless spending habits can gradually erode your financial resilience. Justifying spending with statements like 'if it's under a fiver, it’s basically free', can tip you over your monthly spending limits. This makes it harder to hit important savings goals, such as building up an emergency fund. Separating money for saving and spending can be incredibly empowering: even self-confessed shopaholics can become successful savers."
Read more similar news:
Comments:
comments powered by Disqus
