The internet is currently awash with New Year money hints, rules and guides which aim to help you manage your personal finances a little better over the next year.
One money-savvy mum on TikTok has shared with her 35,000 followers the way she will be cutting her spending in 2023.
The major rule TikTok user @DuchessofThrift will be following is that she will not be “spending a penny” between Monday and Wednesday and says it is a “good habit to get into” in the New Year.
@DuchessofThrift explained that most people do their big weekly food shop towards the end of the week, with her it was either Friday or Saturday and after that, there was “no need to top it up” until the next big shop.
She said: “If you run out of stuff, what's going to happen? If you run out of one thing is the world really going to fall apart?
"The minute you start going out and doing those top-up shops, and buying stuff saying 'I'm just going to nip in there and get some tinfoil, I’m just going to pick up some shampoo in here because it’s cheap, that's when you start haemorrhaging money, that’s when you start leaking money.”
The savvy-saver did say however, she would be paying for her children’s bus fare during these days as it was an unavoidable spend as her children needed to get to school.
@DuchessofThrift explained how once you have mastered the Monday to Wednesday “no spending rule” then you could possibly extend it a little further until Friday.
She added: “If you’re working in the city centre and you're on your lunch hour, it does mean not nipping out to the sandwich shop or nipping out to grab a coffee.”
The TikTok user did jokingly explain how discount shops such as B&M Bargains, Poundland, or Home Bargains, were her weakness and that she could spend up to £40 if she was only popping in for one thing.
@DuchessofThrift then urged her followers to try the challenge and to see how they get on as it could help them “get more of a grip” on what they are spending.
Followers of the account were full of others applauding the tip and sharing how they were going to take on the challenge next year.
TikTok user @Hels300 commented: £This advice needs to keep in my head! It’s so true! And makes sense!”
Another @Steph added: “Great idea definitely giving a go x
