A young woman has revealed what she spends each month in order to save to buy her fourth home.
Charlie Sanderson, 26, who lives in Manchester, tightly budgets her £41,000 salary each month, only allowing herself £50 for non-essential purchases.
The thrifty saver is a self-proclaimed ‘side hustler’, and is aiming to save £10,000 this year by working evenings and weekends doing surveys, market research and secret shopping.
Charlie currently has three properties and more than £20,000 in savings – and is now working towards buying her fourth property, while hoping to splash out on a bucket list trip to Japan next year.
In a recent video that has racked up more than 500,000 views, Charlie revealed how she has budgeted her £50 of non-essential spending money over the past three months.
In January, this included just £5.05 on some chocolate and £4.50 on going to Nandos.
‘The easiest month not to spend,’ Charlie explained. ‘Socialised so much over xmas and had lots of treats. There was nothing I wanted.’
In February, Charlie spent more and admitted she felt like she ‘had so many treats’ with her £50.
Charlie Sanderson, 26, has revealed what she spends each month in order to save to buy her fourth home
She enjoyed an £11 meal out with work, a trip to the cinema to see Bridget Jones for £12 including popcorn, £1.60 on Nandos, £1.99 on a mini fillet burger and Wagamamas for £20.20.
Viewers were baffled as Charlie said she went bowling for just 13p, but soon explained this was due to her work as a secret shopper, and going slightly over budget.
In the UK, mystery shoppers can earn extra money by posing as regular consumers, and reporting back on their experience.
Charlie added that the ‘cheap’ Nandos was due to having a voucher.
In March, Charlie broke a ‘no-spend’ rule she’d set herself, spending £17.50 on pizza out and brioche, £18.34 on wine and a snack, and £6.94 on wine and a meal deal.
However, her total spend was still under budget at £42.74.
Charlie said: ‘I’ve done a little bit of everything that’s important to me and spread it out over different months.
‘If I prioritised going out for lunch with work one month, I prioritised doing something with my bestie the next.
Each month, the young saver gives herself a £50 budget for non-essential spending
In January, this included just £5.05 on some chocolate and £4.50 on going to Nandos
‘It feels like £50 goes a very long way.’
Viewers rushed to their comments to express admiration for Charlie’s savings, although some were concerned that she might not be living her life to the full.
They wrote: ‘You make £41k but you only spend £50 on non-essentials? Are you desperately trying to save for something or is the rest of your life insanely expensive?’;
‘Babe I beg you live a little, life is short you don’t need 4 houses’;
‘You have amazing self-control’;
‘This makes me sad, you only get one life. Budgeting is great but everything could be done tomorrow, have fun.’
Others compared their significantly larger expenses to Charlie’s, with one person saying: ‘I give myself £1100 for non essentials and I have 0 savings and run out of money the second week of every month – hope this helps.’
Another added: ‘My fun spending amount is €1000, how do you survive.’
Viewers rushed to their comments to express admiration for Charlie’s savings, although some were concerned that she might not be living her life to the full
In another video, Charlie gave more details about how she budgets her salary to only spend £50 a month on non-essentials.
As her take-home each month is roughly £2,500, she firstly puts £1,000 into her cash ISA – which she says is always her priority as it’s her main savings.
She will then put £50 into her stocks and shares ISA, although this amount varies each month. Last month, she put £320 towards her Japan before putting £1,100 into the joint account for essentials such as bills.
Charlie tracks every expense in a spreadsheet to stop herself going over budget. She also doesn’t have a credit card any more – though she did in the past to build her credit score before she bought her first property.
To cut down on spending, she says she will only eat out or get a takeaway on special occasions or if someone else is paying.
For Easter, she will be making mini egg cookies instead of gifting Easter Eggs – again to save money.
She also says she’s not buying clothes this year unless they’re essentials like black jeans – and even then they’ll have to come out of the £50 budget.
Meanwhile for make-up, she applies for free samples and does project tests.
She said: ‘Also going to say “no” to doing some things friends invite me to, as I can’t afford to do everything.
‘Prioritisation is key! I’ll also suggest low cost or free activities.’
