Money Blogger Reveals 3 Actions To Take Today To Improve Your Money Habits

19 February 2023 at 8:30 pm

Laura, 30, was able to quit her 9-5 to focus exclusively on money blogging
She reveals 3 actions anyone can take right now to improve their financial habits
Also shares the most common mistake people are making with their money

Improving our money habits and finding a good side hustle - these are two goals many of us have this year. It can feel impossible to get started in both areas, but one money blogger has provided some advice which could get you on the right path. She reveals three actions you can take today to improve your financial situation - and her predictions on the side hustles which will be most profitable this year.

Laura Turner, 30, from London, who runs money blog Thrifty Londoner, told money-saving community LatestDeals.co.uk: ‘I moved to London on a low salary, and pretty quickly realised that I needed to get a handle on my finances. I started budgeting, looking at ways to cut costs, researching how to enjoy the city on a budget, and strategizing about how I could increase my income.

‘I realised there wasn’t a relatable woman who was my age talking about this stuff online, and so I started my website Thrifty Londoner and my Instagram page with the same name. I started researching and sharing more about pensions, investing and money management and this is the content that I share today!’

Laura was able to quit her 9-5 last year to focus entirely on her blog, which she says has been a big business goal of hers. It’s a classic example of a side hustle becoming a full-time career - a goal many of us will be focusing on during this cost of living crisis.

The blogger shared her thoughts on which side hustles she thinks will be most profitable this year: ‘I think service based businesses will remain popular and profitable for 2023. For example dog walking, pet sitting, cleaning, baby sitting. I also think freelance services are in demand - editing, writing, website design and logo design, for example. Product based businesses could potentially see a decline in sales due to the cost of living crisis.’

Laura’s website was created with the goal of helping people reach financial wellness. She believes anyone can achieve this goal, regardless of where they’re living - even if it’s the most expensive city in the country. Her aim is to help people to change their money mindset and create new money habits.

She reveals 3 actions anyone can take today to improve their money habits:

‘Know what you earn, what you spend, and what you owe. Many don’t know these fundamental numbers and it’s important to be aware of your own financial situation.

‘Set financial goals. To improve your finances, you need clarity on what you are trying to achieve. This is the motivation that will drive you through. E.g, you might say to yourself, “I want to pay off £5,000 of debt, so that I can then take my family on a holiday next year.”

‘Stay in your own lane. Try not to compare yourself to others, to influencers, or to celebrities. Unfollow and unsubscribe on social media to focus on your own goals rather than what social media is saying you should be prioritising.’

It can feel difficult to create new money habits, especially with day-to-day costs such as energy bills reaching levels many of us are struggling to afford. Laura provides her top tips for saving on energy bills: ‘First of all, check for your eligibility for any grants or benefits which you may be entitled to. Head to somewhere like Citizens Advice to find out more. Make sure heaters and meters are set up correctly. Check if you could install a timer or thermostat if you don’t already have one.

‘Day to day options might be to use an electric blanket instead of heating, defrost your freezer regularly, use energy efficient lightbulbs, close curtains in the evening to keep heat in.’

Beyond day-to-day expenses, there are long-term financial habits we can also create that will give us better futures. Laura revealed the most common mistake she believes people are making with their money. ‘Not making the most of employer matched pension contributions. Some employers will offer a generous matched pension contribution. For example, they may match your pension contribution up to 10%. It’s a great cost-effective way of putting away more money for retirement.’

Tom Church, Co-Founder of LatestDeals.co.uk, said: ‘It’s easy to feel like your finances are out of control and never feel able to change that, but by taking small actions such as those Laura has suggested above, you’d be surprised how quickly you’ll start to feel in charge again.’

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