| Fran | Saved $10k in 12 Months

Over my first few blog posts, I have talked a lot about who I am and how my money saving plan is going to help you get in control of your financial situation. What you haven’t heard though is someone else actually backing up my bold claims. So, I lured my best mate, Fran, in for an interview under the pretense that I was going to buy her dinner and then bombarded her with questions about how she thinks I helped her financial journey. Fran managed to save $10,000 in twelve months, after having no money saved at all, and I wanted to find out exactly how she felt about it. Check out the interview below.

What was your financial situation like before setting up a money saving plan with The Stingy Bitch?

To describe it in one word – dire.

I was trying to balance my full-time studies with two hospitality jobs, whilst simultaneously making sure I didn’t work too many hours to cause my Centrelink youth allowance payments to get docked. I was living week to week, just hoping that I could pay my rent and still keep hitting the pub every Monday night for those cheap hospitality nights out.

Celebrating Fran hitting her money saving goal with a bev.
What motivated you to start saving your money?

I just got really bloody sick and tired of worrying about whether or not my rent would be on time each week.

What was your savings goal?

I wanted to save $10,000 over twelve months. I didn’t have a particular reason for why I chose this amount in this time period, but once I set my sights on the goal then it started to become an obsession. I’m a pretty competitive person so, after I started telling my family and friends what my goal was, I needed to make sure that I hit it.

Did you hit your goal?

Fran: I actually ended up surpassing it! I hit 10k only ten months after I started saving. I stuck with the plan even after I hit my goal and ended up saving $12,000 in 12 months. Safe to say I was pretty stoked with the result!

Why did you think The Stingy Bitch could help you save money?

I was always just so confused at how, considering Liv and I were both making very little money and studying full-time, she always seemed to have money to hit the pub. When Liv started telling me about her shares portfolio, I knew that I needed to find out how the hell this girl was managing to save money and get her to show me her ways.

Aaaaaand we celebrated with another bev…
What was the easiest part of the plan?

The first part of the personalised money saving plan that Liv made for me was to dedicate a specific amount of money each week to savings. Liv and I worked out how much money I would need to set aside each week to hit my savings goal in the time I set myself. I didn’t realise how easy it would be just to completely forget about this money when you transfer it straight into a savings account as soon as you get paid. By keeping that amount consistent, I didn’t worry about having to figure out how much I should be saving and so it took away the hassle that I used to associate with saving money.

What was the hardest thing about sticking to the plan?

Oh, there were definitely times where I wanted to kill Liv and just splurge on treating myself to things that I didn’t even need. One time, for example, this Stingy Bitch made me return a new pair of heels I bought because I paid for them with the money that I was supposed to live off for the rest of the week. Granted, I felt much better about myself once I returned the shoes and could still actually afford to eat that week, but in the moment it was a real test of our friendship.

It also got hard  when I had  to start saying no to some social events because I  just couldn’t  afford to be eating out with my friends every night and then going out drinking all weekend. I learnt to prioritise which events were important for me to attend, and which ones I could miss out on without getting major FOMO. I also just found ways to socialise with my friends that didn’t involve spending money.

What was the most eye-opening thing that you learnt from this money saving plan?

Fran: I am honestly still shocked at how easy and achievable it is to save money. I look at some of my friends with no savings now and am dumbfounded that, only twelve months ago, I was in the exact same position as them. If it wasn’t for this money saving plan, I would probably be just like my friends that work full-time but have no savings to show for it.

Are you going to stick to the plan now that you’ve hit your savings goal?

Hell yeah. My new goal is to double the amount of savings I have by the end of the year, and I’m hoping for Liv to show me how to start investing some of my money too. Oh, and I want to do all of this whilst still taking four holidays this year. Priorities.

Just in case you were worried – we had another bev just to be sure that we celebrated enough about Fran hitting her money saving goal.

The Stingy Bitch

Based in Sydney, Australia.
Created in 2020.

This site and all of it’s contents are provided for entertainment purposes only and do not constitute personal financial advice. All products that are mentioned are general product advice only, not personal product advice. Not all options are presented and my opinions are subject to change. All content and posts have been prepared as a general summary only and is not intended to be financial advice with respect to any particular matter. This post should not be relied on with respect to any particular matter. If you have questions about any aspect of the content or this site or otherwise require personal financial advice, you ought to seek financial advice. The author disclaims liability to any person who relies on this post.

Do you have questions, comments or feedback for me? I’d love for you to get in touch!

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Published by thestingybitch

A Twenty-Somethings Guide to Saving Money Whilst Still Living Your Best Life

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