My easy budgeting trick helps me cap my monthly spending and saves me £1,200 a year...

AN easy budgeting trick has helped account executive Ed Doljanin go from overspending each month to saving £1,200 a year.At 18, Ed decided not to go to university after leaving school and instead started looking for jobs to kick start his earnings.

Then once he adds commuting, socialising and any luxuries like subscriptions, he struggles to break even with his income. "Since making the change, I've found I've been able to meet more of my savings goals and generally just have a better relationship with my spending." "The ability to load up my card with £250 for the week for all groceries, bills and going out has helped me maintain my focus on spending responsibly day to day," he explained."One common example is Netflix - I buy a gift card for a month’s subscription when there are shows I want to watch, taking away the risk of the subscription auto-renewing the next month."

This may be a good option for you if you struggle to avoid spending more money than you can afford, or if you want to put strict allowances on what you can spend on certain things. It's also important to note that prepaid cards don't come with Section 75 protection like you would get with a credit card.

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