SAVING FIRST £10,000 IN UK ON LOW INCOME

If I was earning 30,000 pounds a year, this is exactly what I would do to save my first 10,000 pounds. After tax and NI and workplace pensions, I might be left with around 1,900 pounds a month. Now, to get to 10,000 pounds in 2 years or 25 months, I need to be saving 400 pounds a month. £400*25months = £10K. If that is impossible and I can only save 300 pounds a month, then that is going to take me to 3 years. £300*34months = £10K. At this rate, I either need to increase my income or cut my costs so that I can save more. When it comes to individual costs, I have to attack the big three: Rent - Transport - Food. When it comes to food, food = bulk purchase + meal prep. If I am buying on a weekly basis at Tesco Express, I would have to do bulk purchase at Lidl or Aldi. And if I go to work and buy food every single day, I would have to meal prep and take food to work. When I do that, I would instantly save an extra 100 pounds or 50 pounds. It is something. Then I would pair that with a reverse budget. Reverse Budget = Automated Savings. I will set up an automatic transfer to move my money immediately. Paid savings into my savings account. My high yield savings account at that. Remember, time is of the essence here. And time is money. So we can't let our money be sitting in an account that is not paying any interest. A cash ISA can easily give me close to 4% interest rate. And this would help me reach my goal faster. But if I still can't find the cash, I would have to either look at paying High Paying Job + Side Hustle. Five figures changes your entire life. So, more in caption below. This is a target that we should all try to get to. Some people make it in months, for some it takes years. But having a safety net is very important. So let me ask you, do you currently have a savings goal? Or are you just going with the flow? Let's chat in the comments.