Want to Save 50% of Your Income This Year? Here’s How!
I went from saving 40% to 50%—here’s exactly how I did it
Hi 👋🏾, last week, I sent out a poll asking what your top goal for 2025 is, and the results are in! 🥁 The poll revealed some interesting insights—35% of you want to save more money this year, while 30% are focused on starting or growing your investments. I hear you loud and clear, and I’m excited to help you make 2025 your most financially empowered year yet!
A Simple 4-Step Plan to Save More Money This Year
Last year, I increased my savings rate from 40% in 2023 to 50% 🎉. You can watch the full recap here. Today, I’m sharing some strategies for crushing your 2025 savings goals.
1️⃣ Know Your Baseline
The first step to saving more is understanding where you are financially. 💡 You need to know how much money flows through your hands every month—your income, expenses, and debts. Sit down with at least one month’s bank statement and review it 🔎. This exercise will give you a clear baseline to build on.
2️⃣ Cut Out the Fluff
Once you know your baseline, you’ll see areas where you can trim the fat ✂️. For example:
That gym subscription you never use 🏋🏽♂️
The £50 you spend on takeout every week 🍔
Or the unholy amounts going to ASOS carts! 🙈
Knowing where your money goes is eye-opening 👀, and it helps you redirect those extra pounds into your savings.
3️⃣ Design Your Finances Around Your Values
Does your spending reflect what you truly care about? 🤔 Take a moment to review where your money is going. If you value experiences like travelling, dining out, or taking cooking classes, does your spending show that? Are you investing in the things that bring you joy, or are you spending for the sake of it?
Value-based spending helps you cut out the things you don’t care about so you can focus on what matters most.
4️⃣ Deal With Your Money Triggers
We all have money kryptonites—the things that make us spend impulsively. Mine? Emotional spending 😅. On bad days, I’d turn to takeout or ASOS for comfort (don’t judge! 😩). But things changed when I identified this trigger.
Now, I have a pamper day fund for those moments. Instead of spending frivolously, I dip into this fund. And if it’s empty? I simply don’t spend. Recognizing your triggers and having a plan to manage them makes all the difference!
These steps helped me save more intentionally and hit that 50% savings rate in 2024. 🚀 Which one of these strategies will you try first? Let me know in a reply email.
Exciting Upcoming Events 🎉
📍 London Meetup:
Join me this Saturday for the Designing Your Life for the New Year event in London! I’ll be leading a session on personal finances and sharing practical ways to align your money with your goals. 🎟️ Only a few tickets left—grab yours here.
🎓 Free Masterclass:
🚨This is your final reminder for my Smart Money Goals, Budgeting, and Tracking Your Finances masterclass! 📝 It’s FREE to attend, but you’ll need a copy of my Income and Expenses Tracker to get the invite. Get yours here.
New Video Alert! 📹
In this week’s video, I share my 2025 wealth-building plans, including how I’m working toward buying my first investment property in the UK 🏡. Whether you’re just starting out or looking to level up, you’ll find practical tips and strategies to crush your financial goals. Watch it here.
Upcoming Content You’ll Love 📧
Here’s a sneak peek of the exciting topics I’ll cover in the coming weeks:
How to Save £1,000 Faster Than You Think
How to Overcome the Fear of Investing
How to Cut Costs Without Cutting Fun
Top 5 Apps to Help You Save Effortlessly
What Value-Based Spending Looks Like
Until next week, remember to stay hydrated and sit upright, please 🙏🏾.
XOXO
Chidera