Savings and Investments

How to Budget and Save Money

Savings & Investments

We’ve all thought about what we’d do if we won the lottery… What our first purchase would be and how we’d share it with our nearest and dearest. And we’re all familiar with the countdown to payday - And the relief when it finally comes!

How to Budget – family saving into their piggy bank

We all want to get the most out of our weekly or monthly income, a simple way to get you started is to create a household or personal budget. This will make you aware of how you’re currently spending your money. It’s so easy now with contactless payment and in-app payments to lose sight of money as something physical.

An oldie but a goodie, is to use a self-built excel sheet (there’s plenty of pre-made templates to choose from) on which, you note down all your income and outgoings – remember to account for every euro! You’ll soon see trends that you otherwise might not have known about!

If that seems a bit too old school for you – you can choose from some useful online budget calculators and apps.

Combine this, with some of our handy money saving tips, that can help you save on your spending and get better value for your money, without feeling like you must make big sacrifices.

Budgeting Apps

How to Budget Money – man using budgeting app on phone

Get in the habit of using your phone to streamline your budgeting efforts by using an app. Our top three, which are all free and available for android & iOS are:

Money Lover – Money Manager:
An all-in-one app, that’ll really help you see your day-to-day expenditures. Create budgets and set savings goals all from one place.

Connecting to your existing banking apps, Mint allows you, from a secure platform to budget and track your monthly outgoings. Based on your financial behaviour, you can choose a suggested budget to meet your savings goals!

Family Budgeting: Home Budget with Sync:
Create budgets, manage and log your expenses over time and categorise them to easily identify what and where you’re spending your money. This app is a great option for families or couples as it can be accessed from multiple devices – allowing you to achieve a goal together.

Online Budget Tools

How to Budget and Save – person with calculator and laptop

The Competition and Consumer Protection Commission has an online Budget Planner. All you need to do, is simply fill out each section and it will calculate the results for you.

MABS, the Money Advice and Budgeting Service, also has budgeting tool that can help you to create a personalised weekly or monthly budget plan.

Money saving tips

How to Budget Money Saving Tips – women shopping on a budget
  • Plan your grocery shop – before you step foot in the supermarket, plan your meals, make a list and stick too it! You’d be surprised how many items you impulse buy as you wander around the aisles.
  • Remember to never shop while you’re hungry!
  • Don’t be blinded by brands – why not try ‘own-branded products’, you’d be surprised at how similar the ingredients are!
  • Grow your own – we’re not suggesting you go out and buy an allotment today! But you can start small, grow your own herbs. If you’re a fan of Italian food, why not invest in your own basil plant?
  • Buy in bulk – the likes of toilet tissue, laundry detergent, pasta and tinned products are often cheaper per unit the larger the package. Shop around to secure the best deals.
  • Sign up - Avail of special offers and savings in your local supermarket by simply signing up to their loyalty scheme.
  • Plan, plan, plan – you can often save on weekend activities by planning them in advance, this will help you feel like you’re not sacrificing things you love.

If you have set and achieved some savings goals – by putting our tips to some good use, give your money the potential to work harder for you. We believe that investing is for everyone. That’s why our investment products are easy-to-use and jargon-free with clear, simple fees. So, it doesn’t matter if you’re a first-time investor or someone with a little more experience. See how you can take a step towards your goals by investing with us by clicking here.

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Aviva Life & Pensions Ireland Designated Activity Company, a private company limited by shares. Registered in Ireland No. 165970. Registered office at One Park Place, Hatch Street, Dublin 2, D02 E651. Aviva Life & Pensions Ireland Designated Activity Company, trading as Aviva Life & Pensions Ireland and Friends First, is regulated by the Central Bank of Ireland. Tel (01) 898 7950.