My favourite money-saving tip is:

Make all payments with a debit card if permissible.

When making a payment with a debit card, you are generally charged the exact cost of a bill or item. Whereas this also applies to cash payment, if you are given any change, you run the risk of losing it. For example, paying for a pint of Guinness at the price of £4.30 (London prices of course!) with a fiver or 5 pound coins means that the 70p change could either fall down the back of a sofa or roll under it. And if someone was so skint as to steal it, it would be harder to get back than if your bank account was hacked for thousands of pounds. Some savers put their shrapnel in a piggy bank or coin jar, but by law they wouldn’t be allowed to buy a pint of the ‘black’ stuff with four-hundred and thirty pennies (the world’s a twisted place). And if you wanted to put those pennies in the bank, you may be charged a small fee for doing so. But if that money had remained in your account, it could be making interest as we speak, however little it may be.

There is also another reason for not drawing cash out of the bank which is non-Irish-dry-stout-purchase-related.

Money is no object, and it is better that it exists solely in our bank account. If we truly live in the moment, money is of little use to us if it isn’t exchanged for something more desirable in the here and now (mine’s a pint of Guinness). That said, on a more morbid note, given that we generally work either a week or a month in advance of being paid, if our bank account is empty in our final days on earth, not only would we have died poor and in a state of constant waiting to be paid, we would have died having traded our labour for nothing (though that probably wouldn’t bother us because we would be dead). We are more dignified if we always have some money saved, but it is better that it is hardly ever seen in its physical form.

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