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saving money

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So, we have barely reached mid-month, and let's call a spade a spade, most of us are already broke AF. 

Every month, we swear that we will be better, but we fall into the same traps. 

But a few significant changes come a long when it comes to your budget.

We have identified some key areas where a bit of an effort can really make a difference long term, without completely making you feel miserable.

Coffee

Sorry to be the bearer of bad news, but your daily latte can cost you up to 750€ a year. That's basically a week of holiday or a designer bag.

While we understand it is pretty essential in your working life, sticking to buying your coffee only twice a week instead of five times can save you up to 400€ a year. 

Lunch food

Say you spend on average 8€ a day on lunch food; at the end of the year, it comes up to almost TWO GRANDS.

We are not going to list everything you can do with that money, you get the picture. But we can only advise you to try and bring your own food for lunch as often as possible. 

Struggling for inspiration? Just double the portions of dinner to have enough for lunch or click here or here to find tasty recipes.

Phone bills

Love your fancy phone? Of course, we all do, and we couldn't really imagine not owning a smartphone.

But once your contract is up, don't immediately go for the upgrade if your phone is still working well. Switch to prepaid and you can save up to 500€ a year!

Cocktails

We are not telling you to stop going on nights out, but just to have a quick think before you order.

A simple G&T should be no more than 7€, while the fancy cocktails for a few floating berries and flavoured syrups can go up to 12-15€. We'll let you make your own calculation of how much the difference can be over a night.

Entertainment

Instead of cinema and book store, think Netflix and library!

The price of one cinema ticket is usually the same as your Netflix monthly membership and library memberships are usually free.

So try to stick to the cheap night to go to the movie (it's usually Tuesday) and look for the closest library to start borrowing classic gems and new releases.

 

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Heading back to college can be a pretty testing time for the old bank balance. 

Luckily, there are a few money saving hacks students can tap into to make the most of what can already be an overstretched budget. 

KBC has a few tips for new or returning students, who need a little advice when it comes to managing their finances. 

1. Get tech savvy

Download one of the many free budgeting apps to see exactly where your money goes, and remember to include any cashback or debit card spending. 

2. Separate essentials from fun money

If you get financial support for bigger items like fees and accommodation, put this money into a separate account so that you’re not tempted to use it for day-to-day expenses.

That way, you know it’s there when you really need it.

3. Go on campus for unexpected expenses

Check out on-campus services for unexpected expenses like a doctor’s appointment or broken laptop.

Student IT labs and other college services are a great place to start for student-friendly rates.

4. Make the most of the student discount

Many cafes, cinemas, clothes and books shops offer student discounts, so always ask. Every 10% discount adds up. 

If you join a society, many of the society membership cards can have additional discount bonuses.

5. Transportation costs add up

Invest in a bike – it’s a healthy way to get around quickly and could save money in the long-run on other transport options.

Otherwise, make sure you get a student Leap card. 

As digital natives, sometimes the easiest way to pay for things can be through our smart phones. KBC’s Student Account offers a host of digital features including free contactless payments and Apple Pay or Android Pay.

It also offers free day to day banking, which means no account maintenance or transaction fees to worry about, and gives students the chance to receive €100 when they open a current account with KBC Bank Ireland.

Not too shabby if we do say so ourselves.

The €100 cash-back offer works by giving student customers €10 on account opening and the remaining €90 when the student makes at least 10 debit card transactions and registers for online/mobile banking.

If only we still qualified for a student account…

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It's two weeks before payday and you suddenly realise you have all of €50 left in your bank account. Cue a fortnight of Tesco Value meals, walking to work and checking EVERY pair of jeans you own for a stray fiver.

If this sounds like your life on a regular basis, the way you shop could be to blame

Here are a few bad habits to keep an eye out for next time you hit the shops… it's time to say goodbye to that mid-month money crisis!

1. You try too hard to keep up with celebs and style bloggers
Yes, we may spend the majority of our working day lusting over Taylor Swift's outfits but that doesn't mean we should be planning to replicate her look entirely with an all-out splurge in Brown Thomas. Celebrity fashion is a great source of inspiration, but always try to keep purchases well within your budget.

2. You shop now… and think later
That amazing winter coat might look absolutely stunning with your new leather boots, but it's not going to be quite so alluring when you're struggling to pay rent and bills next week. Try to keep track of your spending with an online banking app or simply by keeping receipts and taking note. Little purchases (or one big one) can soon add up to deplete your month's finances.

3. You shop by trend
Metallics and leopard print might be all over the catwalk this season but are they really necessary in your wardrobe? Your overall style (and your bank balance) will be much better off with a closet full of great basic pieces and one or two on-trend items, rather than a pile of one-season clothes that you know won't see the light of day after a couple of wears.

4. You buy a new outfit for every event
Night out with the girls? New outfit. Family dinner? New outfit. Work colleague's wedding? New outfit. Updating your wardrobe every time another social event comes around is a surefire way to run out of cash. Try on a few pieces at home, or borrow from a friend, before you go running off to Topshop in a panic.

5. You impulse buy
If you're anything like us, at least two thirds of your wardrobe consists of items you bought on a whim and will never wear, though you convince yourself you'll DEFINITELY need them some day. Next time you're tempted to impulse buy, step out of the shop and wait a day or two before making your decision. If you're still lusting after the item, maybe it's worth it. If not, well you've just saved yourself fifty quid!

6. You buy the same stuff over and over
"Yes but this is a SPECIAL pair of black skinny jeans." If your wardrobe is full of the same kind of items over and over, it might be time to shake up your spending habits. Go through all your duplicates, try them on and you'll soon realise you don't really need to buy seconds (or thirds) just yet.

7. You're a divil for online sales
When that 30% off email comes pinging into your inbox, it's as if the internet is calling out to you to spend, spend, spend. Wow, you had no idea you needed that gorgeous Zara dress that's now down to €80. Why? Well, because you probably DON'T need it.

8. You're a brand name snob
Okay, you make the odd trip to Penneys but aside from that you're a River Island/Oasis/Topshop fiend at heart. As for cheaper chain stores or budget shops, you'd never been seen dead buying something there. But the secret of the truly stylish among us is that they don't care where they buy their clothes as long as they fit well and look fab.

9. You shun charity shops
You can't bear the thought of shopping in Oxfam, but that vintage shop next door tempts you every time. Newsflash: they're pretty much the same thing. Yes, you'll have to root around the charity shop shelves for longer and you won't find something every time, but think how smug you'll feel when you walk out with that AMAZING dress/coat/shirt for a fraction of the price it should have been sold for!

10. You have no idea what's in your wardrobe
Unless you've moved house or had a spring clean recently, you probably have no idea what you'd find if you raided your own closet. Spend a few hours shopping your wardrobe next time you have the urge to hit the shops!

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