A-Z Money Tips in Spending

Brought to you by The Young Scot Extra logo

Follow our A-Z money tips and find out how to save and make the most of your money!

Apps - Download the relevant bank apps to your mobile so you can keep an eye on your account and check out the Young Scot App for local discounts and rewards.

Budget - Cut out non-essential items or expenses every month and see how much you could save!

Credit Unions – Join the Young Scot Extra credit union in partnership with Scotwest. Credit unions are a bit like a bank, except it is run not for profit and by its members. They help you take control of your money by encouraging you to save what you can.

DIY and Upcycle it - Old clothes, cushion covers or bed covers? Don’t throw unwanted items out, repurpose them into something new.

E-Auction Websites - Sell your old CD’s, DVDs and clothes online for some extra money!

Fashion Swaps - Organise a day with your friends where you all bring along items of clothing you no longer wear and see what you can swap. It’s a great way to add something new to your wardrobe without spending a penny.

Goals - Set realistic saving goals. Whether it’s a holiday, a new console or new shoes, having something to save for can help you resist the temptation to spend.

Home is where it’s at - Instead of spending loads on a night out, why not invite your friends round for a weekend night in? You can have great fun playing against each other on the XBox or by having a DVD night!

Invisible Spending - Keep a regular eye on your bank account and be aware of how much you are spending – ever wondered where that £50 went on a night out?

Job - Stuck for money? Try and get a part time job to help you out. You could do weekend shifts or night time work depending on your other commitments.

Keep on top of it - Overdrafts, credit cards or loans might be useful and can help you build up your credit rating, but ALWAYS check the T&C’s to make sure what you’re agreeing to.

Love the environment? – If you make your home more energy efficient you’ll save money on gas and electricity and do your bit for the environment. Did you know turning your heating down by one degree can save around £55 a year in a typical home!

Money Worries – If you’re worried about money, don’t suffer in silence. We recommend you visit your local Money Advice Service Advisor.

Need or want – When you see something you might like to buy, ask yourself if you really need those new trainers or new top? Will you still want them in a week's time? Our wardrobes are all full of items we regret buying!

Own branded foods – Try buying the supermarket’s own brand of food instead of popular brands. You’ll save money and in most cases you won’t taste the difference!

Pay day loan issues – Short term loans to give you money when you need it quickly. What’s the catch? According to the Citizens Advice Bureau the high interest rates of pay day loans are not yet adequately regulated, which means they can become ridiculously high and there’s a danger you can end up in more debt.

Question whether you have the right bank account for you – Compare different current accounts. Finding the right one for you can help you save money!

Read and keep your receipts – There’s nothing more annoying than losing £30 and having an unwanted item because you haven't kept the receipt!

Saving – Put 10% of your cash into a credit union every month. Before you know it, you will be able to afford those T in the Park tickets!

Travel Discounts – Travelling a lot? Aged 16-19 or a full time volunteer under 26?Get a 1/3 off adult single fares on bus services in Scotland and 1/2 price weekly and monthly train tickets or 1/3 off off-peak single return journeys.

Unplug it – Phone chargers, TV’s, laptops and other electronics use power even when they are not switched on, sucking up the power and increasing your electricity bill every month.

Voucher Codes and discount websites – These sites can allow you to bag some really great deals in fashion, travel, eating out and more.

Watch your standing orders and direct debits – Mistakes happen so make sure the right money is coming in and out of your account. If you think something isn’t right, call and query it.

eXamine – (Ok we’ve cheated, but come on... it’s a hard one!) Check your bank account before making any big purchase and your direct debits to make sure you have enough in your account.

Young Scot Card – Obviously, it gives you access to lots of amazing discounts and you can get rewards for doing activities!

Zzzz – Follow our money saving tips and you'll be able to get a stress-free night’s sleep!