‘I’ve saved £500!’ Woman saves £500 by putting cash in envelopes

Couple stunned by potential savings

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Student Emma Cutler, has been working on her attitude towards money and has managed to save £500 in the last six months. She is sharing her learnings so others can make savings too.

With rising bills putting even more strain on already tight student budgets, TikTokker Emma Cutler has shared her simple tips to help others manage their money.

Using a clever ‘envelope’ hack to keep track of spending on food and nights out, Emma has managed to save more than £500 and improve her attitude towards money over the past six months.

She said: “Rather than use cards for everything, I use cash in envelopes to split out my money for things such as food shops and going out – I find it’s helpful to physically see what I have left each month and definitely stops me from getting carried away on nights out.

“With cash, if I take out a £20 note, I know that when it’s gone it’s gone, but with contactless I’d end up spending much more.”

She’s not the only one ditching her debit card in favour of cash – A Which? study recently found more and more people are choosing to use cash over cards to help them manage their finances.

One of the main benefits of using cash is that it reduces your risk of overspending and falling into debt because as Emma says “when it’s gone, it’s gone.”

Sharon Lowick, 52, who runs vintage shop Frankie Loves Ava in Bristol, said it has certainly worked for her and she is saving around £250 per month. 

Becky Derbyshire previously told Express.co.uk how she paid off £8,000 worth of debt in ten years by ditching her debit cards.

She told Express.co.uk: “I’ve been doing this for years – annoys my husband a lot as I’m always loading my pockets with various change and notes that end up going through the wash.

“I love that it’s money I can see I’m spending, making it more real than paying for things by card.

“We managed to pay off our mortgage early by doing this – along with using a colour coded spreadsheet – to monitor spending.”

Meanwhile, NetVoucherCodes.co.uk shared 10 autumn money saving hacks:

  • Switch to cash
  • Make your own decorations
  • Have a seasonal clearout
  • Create a budget folder ahead of winter
  • Have a cosy movie night
  • Explore nature for free this autumn
  • Switch to LED lightbulbs
  • Start a seasonal side-hustle
  • Save early for the festive season
  • Batch cook stews and soups

Batch cooking and writing a meal plan could save people £1000 a year on the food shop alone.

Sandra Smith, a 75-year-old pensioner from Cardiff told Express.co.uk she’s always been frugal but is now having to save even more. 

Budgeting experts frequently recommend meal prepping, batch cooking and reducing waste as ways to save money.

Do you have a personal finance story or money saving tip to share? Express.co.uk would like to hear from you. People can get in touch via [email protected]

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