Roxanne is a young sassy Lawyer, model and writer! These are all her money saving tips, something she wishes she learnt at school.
I have always been a planner, keen on planning towards the future, saving has always been something that I wanted to do but had never really actioned it.
The big moment came when I was starting law school in Ghana and the goal was to invest in myself-financially, it had come to a time where it was no longer my parents but relying on myself to move forward and so I saved. My target was to start with was a thousand pounds.
How did I do it?
Let me outline a few steps that led me to saving and actually achieving my financial goal.
1. Spending less on Food
This was one of the hardest but also one of the most worthwhile savings I made. For someone who literally worked in Central London 24/7 I was always on the go from the bus to the tube and then to work I had little time to prepare food so I always bought food on the go- Mc Donald’s, Pret a Manger, the list is endless anything I could buy to satisfy my hunger and fuel my energy to work.
It seemed small at the time spending £5 a day but it added to £150 a month, a lot that I could save.
So I worked towards saving that amount even if it meant waking up 20 minutes earlier to make a packed lunch or to pack leftovers from dinner the night before, it helped me save substantial money towards my goal.
2. Opening a Savings Account
I opened a savings account specifically for law school and I gave myself targets starting with a £50 standing order a week. The money I made from employment was automatically deducted and went straight to my savings account and I vowed not to touch it, without an ATM card on the account the money I saved stayed put and my finances grew.
3. Using Student Discounts
As a student with an ID card I learnt there were many opportunities to save that passed me by.
Starting with travel I went for a student oyster travel card which cut my monthly travel expenses down to 20%. Retail shops such as New Look, Next and Superdrug gave discounts on clothes and also daily necessities such as toiletries and made it possible for me to save and spend only on what I needed and stick to my financial goal.
4. Save with like-minded people
Having a goal is great and sounds simple to begin with but being accountable for your actions towards achieving your goal can be another feat altogether. I realized that going for seminars where you learn how to save (yes, Miss Independent!) and having thrifty and street smart people around you can really help towards cutting your expenses in half and hitting your saving targets.
If you stick with someone who is also saving towards a financial goal; they can motivate you and give you good ideas such as the right places to spend and also buying things at places you wouldn’t normally go to such as marketplaces, second hand stores and even your local convenience stores.
5. Reward Yourself
Reaching your financial goal takes a disciplined and focused person but hey it’s not all bad! Once you reach your weekly target; treat yourself! Go out for a meal or the cinema with friends after all it’s all about money management and you’ve earned it!
I prayed about reaching my financial goal and committed my plans to God, praying gave me the extra motivation and determination to keep going and not give up. Talking to your pastor, family and even your close friends at church will open a lot of financial doors.
I was able to achieve my target a week before I travelled to start school, the sense of achievement I felt knowing that I had reached my goal to invest in myself academically with enough to spend on myself and my family was quite liberating and empowering.
I share my story to encourage ladies who are reaching towards their goals professionally, academically and financially like myself to go out there and do it! As they say a journey of a thousand miles begins with one step and after reading this you are nearly there.