Video Transcription

Jessica Brady’s 3 Top Tips for Saving Money Part 1

Hi, I’m Jessica Brady, the co-founder of Fox & Hare Financial Advice. I’m here today with the YWCA at the Money, Money, Money: It’s Not Just a Rich Man’s World workshop, and I’m going to give you my top three tips for saving money.

1. Segregated accounts for different purposes.
I am a big believer in having segregated accounts for different purposes. What you should think about are all of the fixed and regular costs you have, as well as all the variable costs. Make sure your accounts are set up so that those costs come from different bank accounts.

2. Pay yourself first.
I am an avid believer that if you want to save money, you need to treat it like a bill. Put it into a separate account straight away as soon as you get paid.

3. Think about short-term and long-term savings.
What I often see is that people want to save for something like a holiday, so they put money away into their account but forget to save for long-term goals. Make sure your savings plan incorporates both your short-term and long-term goals.

Take an hour this week to review my top tips and see how they can work for you. Good luck!

Video by YMCA