Best Way to save
Money Saving
What's the best way to save for christmas 2020 or anything else that needs saving for
Saving depends on a number of things, but the easiest way is to figure out how much you need to live on each month and the amount you have left over is what you save, but set up a direct debit so that amount comes out at the start of the month just after you've been paid.
You need to figure out if there are any expenses that are unnecessary and that you can easily cut out and that amount goes into your saving amount.
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Do you have a credit union bank nearby? They usually do really good Christmas savings accounts
Like MrsCraig I do a similar thing. I pay everything I possibly can by direct debit, allow x amount for housekeeping and the rest can be saved. Or, divide what is left after direct debits by 4 and there will always be money in your purse at end of month as at the beginning.
Even on holiday I divide my spending money by the days I am away. E.g. If I have £30 a day and only spend £28 then I can spend £32 the next day but I never dip into the next day's money to overspend.
Best way is to not spend on things you don't need.
Also, open a savings account if you don't already have one, and setup a standing order from your current account into the savings account - you'll have a fixed amount (however much you think you can afford) going on there every month. You'll gain interest, and you'll forget you have the money because it's in an account you don't use for spending.
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