I’m a mum-of-two and cleared £38k of debt, there are three things you need to save for in 2023 to make your life easier
A week into the new year, many of us are focusing on trying to keep up our new year’s resolutions for at least another few weeks.
But one mum has argued that we should be thinking about next Christmas already – and putting money aside for it too.
Yasmine, known online as @yasminecamilla, regularly shares money-making and saving tips with her 109,000 TikTok followers.
The mum-of-two has often discussed how she cleared £38,000 of debt in two years.
Now she’s encouraging her followers to start saving for three key things this month – including next Christmas.
“Three things that you should start saving for right now.
“Number one, Christmas. Make a little folder or pot in your bank account and start putting a little bit of money in whenever you can to save for Christmas 2023.
“Number two, anything that you can get cheaper by paying for a whole year rather than monthly.
“So for example, car insurance. Car insurance is much more expensive when you pay monthly, so if you’re paying monthly at the moment, can you start putting a little bit of money to one side so that next time you renew, you can pay in one go and save yourself possibly hundreds?
“And three, an emergency fund. Everyone should try to save an emergency fund.
“It is for those times when something crops up and you haven’t got the cash.
“It will make you feel so much more secure, you’ll be able to make better choices with your finances knowing you’ve got the little backup.
“How much is up to you, it’s up to your budget, it’s up to your income and what your expenses are.”
In the comments, the saving whizz shared some more details on her emergency fund, adding: “I’m going to aim for 3 months worth of bills. If I get to 3 months I’ll stop there.
“I want to pay the extra mortgage as soon as I can, need to do the loft first then I’ll attack the mortgage!”
Fans loved Yasmine’s ideas, with the video gaining more than 1,100 likes and 25,000 views.
In the comments, the savvy saver’s followers shared what they’re doing, with one writing: “Saving for Christmas was the game changer for us I love to see the cash mounts up in my Monzo makes buying gifts a pleasure instead of a worry.”
Another said: “I have a couple of things that are paid yearly and I just divide the amount by 12 and put it away in a separate account. It really helped! Been doing it for years now.”
A third added: “I started saving for Christmas/birthdays/insurances/car service/mot and any other bills I will have this time last year and what a difference it has.”