Money expert who saved £40,000 explains £10 plan

Finance coach Laura Moore shared a unique approach to saving money, having saved £40,000. Her five steps include changing from a spender to a saver mindset, setting clear financial goals, understanding the emotional reason behind saving, creating a personalized spending plan, and automating finances on payday. Moore emphasizes the importance of aligning money behaviors with saving goals. Moore advises starting with saving just £10 monthly to kickstart the saving habit. Additionally, she highlights the significance of having a strong emotional connection to the savings goal. Understanding where money is spent versus where it should go is a key tactic. Lastly, Moore suggests automating finances on payday by allocating money to bills, spending, and savings accounts to remove emotional decision-making. These steps aim to help individuals take control of their finances and save effectively.

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