I’m not wealthy, I don’t have a well paid job. I didn’t have savings already lined up.
When I decided to do this the idea was daunting. I’ve never tried to save money before and I was already one of those people who dipped into my credit card (or sometimes ‘The Bank of Mum’ or ‘Dad’) in those few days building up to payday.
I needed to make some big changes.
First a made a spreadsheet to see if it was possible/ when it was possible.
This factored in all of my monthly outgoings: rent, bills, car insurance, phone bill, gym etc. minus that from your income and that’s the number you have to play with.
Next, you have to set your goal. For me it looked like this.
?? Pay of credit card (I can’t even remember the horrible number.)
£3100 Money to enter Australia
£525 Initial Sydney tour
£200 Insurance (1year)
£100 Bag + Accessories
So £4,125 was my target. Simple. Scary.
I made a spreadsheet to work out how long it was take me to save that amount of money, stuck to the monthly required amounts and now I’m going to Australia…
If only it were that simple!
See my Saving Tips post for ideas on how to make your monthly ‘target’ attainable.