I agree, at first glance the title to this blog post does look a little backwards but bear with me.

First of all I have to start by letting you guys know this is a personal money saving tip that I have used many times myself and found it extremely effective. That said, it obviously won’t suit everyones llifestyle, so take this post with a pinch of salt if it’s not for you.

There have been several times in my life when I have needed to save quite vast amounts of money in a relatively short space of time and every time I’ve used this little trick and found myself considerably better off in no time at all. OK, are you ready….It’s extremely simple.

Save your overdraft.

Thats it. By withdrawing all but a few hundred pounds (a safety net) out of your overdraft and stashing in into a savings account, you save a serious amount of cash in very little time. Not just because you have borrowed the banks money, but because having little to no money in your current account changes your entire spending habit in the blink of an eye. There is however one golden rule, forget the money in the savings account, this is 100% untouchable until you have hit your target.

No current account cashflow, no impulse spending, no wasting money on products you don’t need. All you are basically doing is putting yourself permanently in “the week before payday” period, when you really are skint. By extending this skint period for a few months, you find yourself in a much stronger financial position at the end of it. Think of it as going on a money diet. There is light at the end of the tunnel.

Cheers,
King DC