Struggling to make it through to payday? These TikTok budgeting tips have got you covered

It’s officially that time of year when we’re all frantically searching for the best budgeting tips, having spent our December paycheck well before Christmas. Yep, the January blues have got us good – and with payday still just out of reach, it’s time to act. 

Whether you’re already on your way to achieving your major saving goals planned for 2022 or are still wrangled your way out of the festive deficit, it’s always a good idea to learn about how you can protect that hard-earned cash. 

The good news? You don’t need to sit through another toe-curling lecture from your ‘business-savvy’ friend to find out how. It turns out there are plenty of budgeting tips to be found on everybody’s favourite app, TikTok. 

That’s right, as well as being the home of makeup tutorials and questionable dance routines (not to mention an ever-growing roster of celebrity lookalikes), TikTok also has loads of accessible money-saving hacks to get you through the mid-month panic.

Here’s GLAMOUR’s roundup of best budgeting tips on TikTok:  

Try cash stuffing

Cash stuffing basically consists of planning how much you want to spend each month, allocating the money to various aspects of your life such as food, petrol, etc., withdrawing your budget in cash, and paying for everything in cash. 

The idea is that it helps you visualise your spendings more effectively, as well as enabling you to identify the areas in which you’re regularly overspending. Here, Yasmine Camilla (@yasminecamilla) shows how she uses cash stuffing to prep for the month: 

Spend with intention

Tori Dunlap (@herfirst100k) explains that you don’t have to stop spending money to achieve your financial goals. Instead, she recommends using a technique called the “three value categories.”

Tori outlines that the first thing you need to do is track your purchases and identify where the majority of your money is going. Next up, she recommends identifying three areas of your life that bring you the most joy – the “three value categories.”

Tori’s three value categories are travel, eating out, and plants. Once you’ve identified yours, check back on your purchases and see if they align with your value categories. If not, you could identify an area where you could easily save some money. 

Budgeting on low incomes

This TikTok user, @amoochlife, outlines a budgeting technique specifically for those on low incomes or with high amounts of debt. They recommend working out how much you get paid every two weeks, splitting it into two paychecks. Next, they explain, “You’re going to list your monthly expenses from most important to least important.” 

Then “you’re going to write out the exact or approximate amounts next to each expense.” 

This way you can ensure that your first paycheck will cover the expenses higher up the list, such as rent and bills, while your second will cover the less important categories. However, this is probably more suited to those who get paid weekly or fortnightly – as it sounds quite difficult to manage with a monthly budget. 

Don’t save what is left after spending, but spend what is left after saving

Courtesy of @krish.kara, this budgeting tip is all about changing your mindset when it comes to achieving your saving goals. The idea is that instead of saving the scraps leftover from a big spend (likely about 2p), you allocate a certain amount of money for your savings account each month and spend whatever’s left in your current account. It requires determination and willpower, but we reckon he’s onto something. 

Organise your bank accounts

Ellyce, a popular financial educator on TikTok, explains the importance of having at least four bank accounts. Here’s what each account is for, according to Ellyce:

1. An account for bill payment
2. A daily spending account
3. A short term savings account, or an emergency fund
4. An account for your long-term investments

Happy budgeting! 

For more from Glamour UK’s Lucy Morgan, follow her on Instagram @lucyalexxandra.