Frugal Friday - Week 11 - Saving for Big Purchases: How to Plan and Save for Expensive Items

Tip 1: Open a dedicated savings account for  your big purchase (such as a new phone, appliance, or holiday). This way, you can keep track of your progress and resist the temptation to spend the money on something else.

Tip 2: Rather than focusing on the total amount, break it down into smaller monthly or weekly targets. This makes it easier to save and keeps you motivated to reach your goal.

Tip 3: To make room for saving, cut back on non-essential purchases. Cancel subscriptions you don't use, avoid shopping for things you don't need, and focus on putting those funds toward your big purchase instead.