Blog: 6 Money Saving Ideas

BF money saving tips

Here are six money saving tips that you can use to help your Scout Group save the pennies or to keep your own bank account healthy this January.

Having spare cash is always handy, just imagine the new camping gadgets you could invest in, or that overseas trip you could put away for. Money saving is just a case of developing a really good habit over time and is completely do-able.

1. Budgeting activities

Make learning to budget fun by trying these activities with your Scout Group, you can find the activity resource here

2. Save on a rainy day

Have you heard the saying ‘save for a rainy day‘? Here's an idea, instead of saving for a rainy day, why not save on a rainy day? Challenge yourself to pocket a certain amount of money every time it rains. Genius, right?

3. Use money management apps

The mobile phone app GoodBudget will help you keep a track of your spending habits. This app works on both iPhone and Andriod phones. You can download the app here.

4. Make your own piggy bank for loose change

Design and make your own bank to drop loose change into. Having your own visible account will encourage you to save more. You can do this activity on your own or together with your Scout Group. Set yourself the challenge to fill the bank by a certain time in the month or year.

Watch: How to make a plastic bottle bank http://bit.ly/1X8DuSZ 

Watch: How to make a piggy bank http://bit.ly/13Mp3fJ 

5. Look out for discounts

Collecting coupons and discount codes can save you money on your favourite leisure activities like eating out, going to the cinema and shopping. You can find discount codes online, in newspapers, in store and on mobile apps.

6. Play spin the wheel

Save money by giving up something you repeatedly buy and consider a treat. Discuss with your Scout Group what those things are and create a decision wheel out of them (a bit like a wheel of fortune). Each week take it turns to spin the wheel and wherever the dial lands, decide to give up that item for the week. You can then put the money you’ve saved up towards your Scouting activities. 

Do you have any more money saving activities? Share your ideas with us on our Twitter and Facebook pages.

For more money advice check out these websites below:

www.barclaysmoneyskills.com

http://mybnk.org/young-people/

https://www.moneyadviceservice.org.uk 

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