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Discover tips and tricks on how to save and invest money by Oval Money

Monday is never anyone’s favourite day. No matter the weather, you always feel a little blue. However, if you were a fan of our Friday fun tips then we’ve pulled together another list of great ways to cheer up your Monday and save some money in the process!

1. Do a Step audit

The best time to pull things into order is at the start of the week. Check your savings Steps to see which ones you use well, which ones you don’t use, and which could be improved. Do an audit and a reshuffle.

Pause those that aren't making you savings, and if there is something new you want to start incorporating into your Monday routine (like walking to work for example) then why not set up a brand new Step in order to save whilst you succeed!


2. Make a bank statement sweep

Go over your bank statements to see what you spent over the weekend. Make sure it aligns with your budget. If it doesn’t, then now is the time to jiggle the numbers to make sure you are still running on target. There’s no use in having a budget if you don’t use it or if it doesn’t work for you. By doing this each week you keep your budget current and your finances on track.


3. Do something you love

The best way to cure the blues is to do something you love; whether it be the gym, the cinema, or a coffee with friends. By building this into your budget you can finance what you love on the day you dread. This will always make Monday a day to look forward to.


4. Your day to invest

Historically, Monday has always been the best day of the week to buy stocks, as the stock market tends to drop on a Monday. Even if you’re not a trader, sit down and make Monday your investment day. At Oval you can set up a recurring investment step, that will automatically set aside a portion of your savings each week. This is a great way to manage your investment contributions as it simplifies your life, and ensures that you build on your capital week-on-week.

However, if you are not able to set up a recurring investment step, or are unable to guarantee a fixed amount to invest each week, then set a date in your calendar and make Monday your investment day. Decide how much you can afford to invest that week and top-up your portfolio. By doing it on a regular basis your wealth will slowly accumulate.


5. Prep it!

Make Monday as simple as possible by prepping it on Sunday evening. That means laying out work clothes, making your packed lunch, and organising your calendar to make sure there are no big surprises!

The better prepared you are the less frazzled you’ll feel when you wake up, and the less likely it is that you’ll make stressed snap decisions that could cost you money (like taking a taxi if you’re running late or buying take out for dinner), and feeling in control helps your positivity.


6. Plan your work

You might feel like that’s the worst idea in the world on a Monday morning, but organising your tasks in order of importance means you know exactly what work needs to be delivered when. It gives you an overview of what needs to be done and lets you get a jump on the week ahead. Ticking off each task as it’s completed will also give you boosts throughout the week.


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