Five TikTok Hacks Which Will Help You Save More of Your Money in 2023
There are a number of ways to save some pennies this year, and don’t worry, they’re a lot more simple than they sound
The ‘Cash Stuffing’ Method – TikTok @stephtalksmoney
With over 230 million views for the term #cashstuffing this savings trick appears to be a popular one. Put simply, it involves purchasing a cash wallet and labelling all the sleeves with your budgeting categories. This can range from bills, goals and holidays, to luxuries you may want such as fashionable clothes and shoes. When you get paid or receive any type of money split this between each category. It’s a simple and fun hack, making you feel ahead of the game and organised!
The Penny Challenge – TikTok @moneymumofficial
This easy and simple challenge could save you just over £650 a year! All you need to do is save one penny per day, adding a penny for each day. So your first day with be one penny, second day with be two pennies, third day three pennies and so on. Easy!
The Savings ‘Ladder’ – TikTok @jandralee
Instead of saving a certain amount and putting it away each month, this hack adds a twist. Choose a reward for yourself, and multiply the price of it by two, three or four, depending on how much you want to save. Only when you have the multiplied amount in your savings account can you make the purchase and get your reward. For example, if you want to purchase Apple AirPods for £119, you multiply that amount by three giving you £357, this way when you purchase the AirPods you have an impressive £238 saved. Climb the savings ladder by starting small and build it up over time.
The 100 Envelope Challenge – TikTok @amoochlife
The ‘100 Envelope Challenge’ can save you £5,050 in just 100 days, or can be stretched our over the entire year to maximise savings. First, you’ll need 100 envelopes, each marked one to 100. Place all the envelopes into a box, and each day pick one out and put money inside based on the number written on it. For example, if the envelope is marked with 10 you place £10 in it. Stick with the challenge for the full 100 days and easily save up an impressive £5,050.
The 50, 30 and 20 budget rule – TikTok @kaseyhgammons
A great and simple way to get your budget in order! All you need to do is split your budget into three distinct categories. All you need to do is split your budget into three distinct categories. 50 percent for your need such as rent/mortgages, bills and food. Next is the 30 percent category which is for your ‘wants such as eating out, hobbies, entertainment and travel. Finally the 20 percent category is for your savings and investments.