I have never been great at money management. I think living in a city such as London, you are so stretched at all time, it is hard to motivate yourself to save. There is always something you can do, someone to meet up with, some dinner to go to. Living that lifestyle eats up money that could be saved, and critically, eats up your will to save.

If each month, you are struggling to get through the last week (or sooner!), you need to reconsider how you are living. All these fun things you are doing are costing you money. I know, I spent 7 years doing it and wondering why I ended up broke each month!

Even when my salary had risen to a reasonable level, I still ended up broke. The trap you fall into is saying to yourself “I work hard for this money. I deserve to treat myself”. When you are eating out two or three times a week, is it really still a treat? It becomes a habit. One that is hard to break too.

A midweek dinner with a friend costing £30 here, a Saturday night out costing £80 there, followed by a £40 on a Sunday roast and drinks and you’ll find yourself spending £150+/week on eating out and drinking. Not to mention Uber fares and takeaways. That’s £600/month, and £7200/year!

I’m not saying don’t enjoy this fine city, but just question yourself when you are spending money as it adds up rather quickly. Say no to going out a few times. Lose the fear of missing out. Cook for friends at home and have people round for dinner and drinks. There are ways to save and still enjoy life.