{"id":14277,"date":"2017-04-03T10:58:19","date_gmt":"2017-04-03T09:58:19","guid":{"rendered":"https:\/\/www.kidstart.co.uk\/blog\/?p=14277"},"modified":"2018-02-01T17:16:32","modified_gmt":"2018-02-01T17:16:32","slug":"take-the-great-british-savings-challenge-with-scottish-friendly","status":"publish","type":"post","link":"https:\/\/www.kidstart.co.uk\/blog\/take-the-great-british-savings-challenge-with-scottish-friendly\/","title":{"rendered":"Take the Great British Savings Challenge with Scottish Friendly"},"content":{"rendered":"

Scottish friendly\u00a0tasked families across the UK to take part in a series of money saving challenges.<\/h2>\r\nScottish Friendly<\/a> want the nation to think more about their savings habits and encourage more positive discussion on the subject.<\/strong>\r\n\r\nEveryone wants his or her family to be financially secure, but the reality of achieving this can be tough, and is only set to get tougher for young people in the future. That\u2019s why The Great British Savings Challenge<\/strong> was born.\u00a0The project\u00a0will challenge\u00a0two households across the UK with different family and financial circumstances – the first one is already live!\r\n\r\n
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The Watts Family<\/p><\/div>\r\n\r\n

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The Gee family<\/p><\/div>\r\n

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Challenge 1 \u2013 Cold hard cash challenge<\/h3>\r\nWhen you use your debit or credit card keeping a tab on what you have spent is hard, especially when you think about how easy it is to use contactless payment now. So for the next two weeks Scottish Friendly are asking\u00a0you to buy everything in cash only<\/u>.\r\n\r\nThis technique allows you to see REAL money being spent rather than a card. You basically take out what you expect to spend (e.g. eating out and budgeting yourself when clothes, food shopping etc). Of course this doesn\u2019t account for mortgage, utility bills etc so they would remain as direct debits.\r\n\r\nThe point isn\u2019t to save hundreds of pounds (although if you can do that then well done!), but to force yourself to actively spend and notice what you\u2019re overspending on<\/strong>. Using cash is an excellent way to force yourself to consciously notice where your money is going, and adjust your spending going forward.\r\n\r\nYou could also set up a piggy bank and drop anything you have lying around spare into it. You might be surprised how this mounts up! If you take part in the challenge, share it on\u00a0Facebook<\/a>\u00a0or\u00a0Twitter<\/a> and you could win a \u00a315 gift card!\r\n\r\nRead more<\/a> about how the Gee Family and the Watts \u00a0family are getting on with the challenge – lots of tips to learn from!\r\n
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How to invest with Scottish Friendly<\/h3>\r\nIf you are looking to put money aside for the future, Scottish Friendly are currently offering up to \u00a355 KidStart savings<\/strong><\/a>.\r\n