Savvy money expert Gemma Bird has shared her top money-saving tips that could still save you £5,500 by the end of this year- even if you only start saving in March
The New Year is the perfect time to start new resolutions – especially financial ones – but it’s never too late to start saving. There’s absolutely no reason why you can’t start in March and even small changes can add up to big results. And the good news is that If you start today, you could still tuck away over £5,000 by the end of 2025 without feeling the pinch.
With energy bills rising again in April, expensive supermarket bills and exorbitant childcare expenses, your bank balance probably looks a bit sad by the end of every month.
MandM ambassador and money expert Gemma Bird says: “Some of my favourite tips are small changes that you don’t even have to think about and might not even notice leaving your account!
Studies show that people typically spend less when using cash instead of a card as it makes them think about their money versus their purchases more. Set a strict cash budget for food shopping and withdraw the amount in cash.”
1. The cash-stuffing method = £5,050
Also known as the envelope system, this budgeting hack is making a comeback, thanks to TikTok. It’s really simple: label 100 envelopes £1 to £100. Over your own chosen period, select and fill an envelope with the corresponding amount. The great thing about this method is that you can do it when you have the money as long as you stick to doing it for 100 days throughout the rest of the year. And with around 299 days left of the year there’s still plenty of time to get cracking and see your bank balance boosted by £5,000 by the end of the year.
2.The 42 week challenge = £903
This hack is a gradual, commitment-free way to build up your savings. It works by saving £1 in week one, £2 in week two, £3 in week three, and so on, increasing the amount by £1 each week. Since you’ll be starting on March 9, there will be 42 weeks left in 2025, meaning you could still save a healthy £903 before the year ends. It could be a nice tidy sum in time for next Christmas.
3. The 50-25-25 Rule = £5,500
Have you heard of the 50-20-25 rule? It’s a super easy way to manage your money while ensuring you save without thinking about it. This is how it works:
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50% of your income covers necessities (rent, bills, food).
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25% is for flexible spending (entertainment, shopping).
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25% goes straight to savings – ideally through an automatic transfer on pay day.
So, if your monthly take-home pay is £2,000, setting up an automatic transfer of 25% means you’ll be putting away £500, without even thinking about it.
