Be Insta- inspired and find new ways to save...
LOOKING FOR WAYS TO SAVE MORE AND SPEND LESS? VICKY SHAW REVEALS SOME INSTAGRAM ACCOUNTS OFFERING IDEAS
THE internet is a place many people have turned to for support during the lockdown, and with many households in tough financial circumstances it can also be a useful resource if you’re looking for inspiration and ideas to save money.
Whether you’re saving to get on the property ladder, trying to dig your way out of debt, or just want to rustle up an inexpensive meal, there may well be someone on Instagram who can spur you on to improve your financial habits as they share their own personal experiences.
Here are three Instagram influencers who are sharing their money tips, as well as a look at their own inspiring stories.
1 @MYFRUGALYEAR
@MYFRUGALYEAR has been sharing her experiences of emotional spending during lockdown and tips to overcome it.
These include taking stock of our feelings before, during and after online shopping to ensure what we’re buying is really necessary.
Its creator Clare Seal uses her Instagram to support those with financial difficulties and address the deeper causes of debt, with a particular emphasis on the financial challenges faced by women.
■ Why Clare created the account: “Initially, I started the @myfrugalyear Instagram account to track my journey as I paid off £27,000 of personal debt, and to hold myself to account.
“Very quickly, it became apparent that financial wellbeing was something that people needed to talk about, and even more so
since the start of the pandemic.
“Instagram has now become more of a platform for people to seek advice and gain support through honest conversation about finance and wellbeing, as well as being a place for me to share my own personal journey.”
2 @MONEYMEDICS
NICK AGWUNCHA, Ashley Agwuncha and Eve Obasuyi, who are behind the @moneymedics account, are a millennial trio offering money management tips, from the basics of budgeting and saving, to investing and buying a first property. They have tips for millennials at various points in their lives, whether you’re starting university, have just secured your first job, have recently married, or are starting a family.
■ Why they created the account: “We started Money Medics for a mixture of reasons. “One, because we found that we were constantly talking about money, how to make it, how to save it and even how to spend it and we felt like the money management guidance out there was vague and unspecific at times.
“Two, because talking about money in this day and age seemed to be some sort of complicated taboo but we discovered that Instagram was a great place to empower people to have more candid conversation about sensitive issues like money, by sharing easy ideas that people could replicate without it being complicated or requiring lots of money... and just like that Money Medics was born.”
3 @THE-FRU-GALS
@THE-FRU-GALS have been helping people adjust to life after lockdown with their money-saving tips, ranging from cheap recipes to fitness hacks for those who can’t afford to re-start their gym memberships.
Jess and Alice Farmery, 25-yearold twins, have always enjoyed discovering cost-cutting hacks, but it wasn’t until the financial implications of coronavirus became apparent that they decided to set up their Instagram account.
■ Why they created the account: @the_fru_gals
Alice says: “Times are tough, and many people are facing redundancy and unemployment. Being frugal often has negative connotations, but we’re using our Instagram account to help people and show that it’s possible to save money without seriously impacting your quality of life. We want to prove that thrifty doesn’t equal boring!”
Jess says: “Our mantra of buy less, waste less, and make/grow-yourown is not only beneficial to your finances, but also helps the environment.
“The prevalence of student loans amongst our generation means that debt has been normalised and Instagram accounts like ours are helping break the taboo around money talk. We wanted to show people that taking control of your finances can be empowering.”
IMPORTANT TO REMEMBER...
WHILE going online can be a good way to get savings tips and inspiration, people with money issues or dilemmas may also want to contact a charity such as Citizens Advice or StepChange, or seek help from a qualified financial adviser.
Watch out for potential scams disguised as financial opportunities when online. Avoid clicking on links in unsolicited “phishing” emails or giving out personal information which could be used in a scam.
For more information about avoiding scams visit Action Fraud (actionfraud.police.uk).