A woman saves £1,500 (approximately 1.3 lakhs) per month using the ‘zero spending’ method. She that’s how she does it she.
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- What is a ‘zero spend’ strategy?
- How do you plan your expenses?
- Why do you use the extensive savings method?
What is a ‘zero spend’ strategy?
By using the ‘zero spend’ strategy, one woman was able to save over £1,500 in one month. Matilda Relefors joined the viral trend by trying to spend the entire month of November without buying anything. That is an important challenge.
However, the 28-year-old was extremely strict and only spent money on meals and bills and not on clothing, socializing or transportation.
How do you plan your expenses?
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“When I do a ‘No Spending Month,’ I’m only allowed one grocery store for the entire month,” Matilda explained. “I plan my meals and receive them on the first day of the month. My budget is £100 for this. My rules are that I only spend money on bills and if my dog needs something urgently.”
He concluded that November was “not that difficult” because it is the “most boring month.”
Why do you use the extensive savings method?
“It would be a lot harder if I still lived in London or it was summer because then I want to go out and do things all the time,” he says. “If I had to pick one difficult thing, it would be that I only made one grocery purchase at the beginning of the month that had to last me the entire month.”
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“I had to be thrifty and figure out what I needed to eat first and what I could save for later in the month, using my freezer a lot.” He typically spends £1,800 a month on utilities, clothing, food, rent and entertainment. However, he saved a whopping £1,550 during his “zero spending” month.
Matilda acknowledged that it’s “not a sustainable lifestyle,” but it’s wonderful for a “financial reset” every now and then.
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Source: vtt.edu.vn