If you find the news bulletin too depressing, make two-year Chip saver, Laura’s* #ChipSaverStory your comic relief. Putting a positive spin on a negative situation, we received this message from Laura:
"Last year I was rather spontaneously dumped, leaving me to renovate a house on one salary rather than two!
"Luckily my wedding goal was easily renamed to reno budget, and I am now living my absolute best life - singing loudly to Lizzo about how I too put the siiiing in Single - in my new kitchen and no one complains about how bad my singing is!
"All thanks to the money I saved through Chip, and some rather brilliant family and friends who rallied round to help with the DIY!"
If this isn’t the most kick-ass thing you’ve read all day, you need to read it again. Take five to delve into Laura’s journey with Chip.
*We are publishing this story under a pseudonym at the saver’s discretion because, quote, “I don’t want to get in trouble with the 'Boyfriend of Christmas Past'”.
Laura: Money Saving Expert – I have a bit of a weird crush on Martin Lewis…but financial savviness in times of austerity is sexy!
Laura: Free money… Well we can all dream right? Actually, I was hoping to get exactly what I have from the app, a pot of money that magically grows without any effort from my part.
I was once a poor millennial with no hope of owning a house, then as if by magic (Chip!), I’m eating smashed avocado every day in my own kitchen. Please don’t hate me too much.
Yet also I am now more conscious of my habits, and find myself putting more away because Chip reminds me. It’s great to have an “out of sight, out of mind” place to put my money so I don’t feel too flush and buy myself another take away coffee.
Laura: I had a traditional savings account and at the end of the month, whatever was left I would put into the account.
But I could always see that pot. So if I found myself a bit tight, or really wanting to do something, there was nothing to stop me just pinging the money back into my current account and spending it.
I have a Monzo card too, that’s been a great way of making me feel guilty about what I spend my money on, BUT it doesn’t stop me spending.
Laura: I was looking to save £600 for a decorator bill, which I reached in about three months – but I turned the save level up to the max and added in extra money when I felt I could.
In the end, I had over £600 because I actually reached my goal quicker than I needed to. So, I just started another goal – this time it’s to buy new doors. I know, my life is so rock and roll!
Laura: In all honesty there’s not much to tell because it was so easy, I didn’t really notice anything except the notifications to tell me I’d saved a bit more. I was able to just carry on as normal and the pot just grew.
Pain free; perfect!
Laura: The paint the decorator used did go quite high up the walls and is a light colour…oh gosh that’s a terrible attempt at a joke, I am sorry. Basically, there’s something so nice to pay for something without actually feeling the sting of it from my “real” money.
Chip is like a tax rebate – it feels like free money because you haven’t needed it before.
Laura: My new goal is putting money aside for replacement doors in my house, but this is going to take a while. I had no idea how expensive doors were and right now I’m on track for 2021…so I might see about selling a kidney just to bump the date forward a bit
Laura: Apart from the fact it has helped me save? The gifs – it reminds me that I am still young and fun, even if I’ve achieved the millennial unicorn dream of owning a house!
Remember your Capital is at Risk and past performance is not a reliable guide to future returns. The value of your investment can go down as well as up and you might get back less than you originally invested.