A PRO saver has taken to TikTok to share the one mistake we’re all making when it comes to budgeting our money.
Laura Ann Moore explained the problem is how people are thinking about budgeting.
Instead of considering it as a way to restrict your spending, think of it as a way to prioritise it instead.
She also explained that was the key thing that helped her save £40,000 by the age of 27.
The money coach, known online as @lauraannmoore regularly shares money-saving and budgeting tips with her 10,500 followers.
In a new TikTok reel, she said: “If you struggle to budget your money, listen up. I’m about to do a TED Talk.
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“So if you struggle with budgeting your money, know that money and budgeting are not about restriction.
“It’s about priorities.
“Let me tell you what I mean.
“So we think about budgeting is really restrictive, like, ‘oh, my gods it means I can’t do this, oh my god it means I can’t do that, oh my god it means I won’t be able to get my £3 oat milk latte’.
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“No. You are creating your own budget, which means you get to pick what your budget looks like.
“You get to pick how much you spend on X, Y, Z.
“If you want to spend all your money on food, cool.
“If you want to spend all your money on clothes, cool. You get to pick where the flow of that money goes.”
Laura then went on to explain how to work out your priorities and make a budget to match.
She continued: “So what is it that you are prioritising?
“You can see that in the way you spend your money. Go back through your bank statements, look at where you’re spending your money, that’s currently what you’re prioritising.
“So ask yourself, am I happy with what I’m prioritising? Yes or no?
“If the answer’s yes, happy days.
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“If the answer is no, you can change it. You can do this through a budget."
Fans loved her simple tip, with the video gaining more than 270 views.
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