A 28-year-old corporate lawyer has spilled her secrets on how she saved $35,000 in 12 months using a simple budgeting method anyone can follow. Aleks Nikolic explains how putting a label on the planned future use of the funds can help boost your savings — making it harder for you to spontaneously spend your earmarked money on other things. WATCH THE VIDEO ABOVE: Simple method to boost savings. “I find it so much easier to save if you know what you’re saving for,” the Sydney woman tells 7Life.
“Putting $500 aside for an ambiguous future date is hard. But $500 towards flights to Europe feels so much more satisfying. “In my case it was a house deposit — I knew every $500 brought us closer to our dream home.” Aleks says she used to struggle to save money for years after earning just $300 a week and falling into a credit card debt. Eventually, she found a simple way to set aside her hard-earned cash. The trick is to simply have a specific purpose for your saving