TikTok's most surprising money-saving hacks
It may be best known for teen dance challenges, but TikTok also has some of the best money advice going around, writes Jody Allen.
I asked my boys how to use it, and, with my cost of living lens that I apply to everything, I quickly fell down the rabbit-hole that is TikTok. I’m now totally obsessed with Willow Smith, her Mumma Bear and her Grandma’s channel to save extra cash.
Here is a selection of my favourites:
The Round-Up challenge by the @Budget Bros Podcast
The Budget Bros Podcast has a challenge where at the end of every week, you round up the last dollar digit (and cents) in your bank account and put it into a dedicated savings account. For example, if I had $54.25 in my bank account, I would round up the $4.25 and transfer that amount straight over.
The theory is that being such small amounts, you won’t really notice how much money you are saving. The Budget Bros saved $1489.28 in a single year – and that’s a nice addition to the holiday or gift budget.
100 envelope savings challenge
Krista Zahron’s 100 Envelope Savings Challenge has gone viral on TikTok as one of the easiest ways to save more than $5050.
You grab 100 envelopes and, using a marker, write a dollar amount from $1 through to $100 on the front of each one. Place the envelopes in a box (either in order or if you want to save dangerously – jumble them up) and, at the end of every week, you randomly choose one from the box – and you MUST place the dollar value listed on the front into the envelope.
Once the envelope contains cash, stand it up (so you don’t choose the same envelope again).
If the $100 envelopes are a bit rich – you can make it say $25 or $50 depending on your budget.
There is also a TikTok variation on this idea by purchasing one of those really large money boxes and writing the amounts on the side – and as you pop the money into the tin – you cross it off.
I love this idea. You know how when you go grocery shopping, on the bottom of every receipt it tells you how much money you “saved” this shop? Well, Receipt Bingo is where you put that money away into a separate account – no matter how much the savings are. So it could be 50c or it could be $50 – you never know until you get the receipt.
The famous baked feta pasta
Not so much a money-saving hack but a great way to make a meat-free meal that is gorgeous and easy.
I tried the Famous Baked Feta Pasta hack myself this week – and it was inhaled by my family. You grab one block of feta cheese, place it in the middle of a baking tray. Add some cherry tomatoes, garlic, sliced onions, olive oil, season well with salt and pepper – and bake at 180C for about 30 minutes or until the cheese is browned and starting to melt. You mash the whole lot together with a fork and fold in your cooked pasta of choice.
I didn’t have any cherry tomatoes but had a few normal tomatoes that were starting to go on the soft side – so I chopped them up and whacked them in – it was amazing.
If you haven’t checked out TikTok yet – it is a wealth of ideas – particularly for people who struggle to save money. Maybe one of these hacks will be the inspiration you need to start. Let me know how you go.
Jody Allen is the founder of mothers’ network Stay At Home Mum. Find her at @StayHomeMum on Facebook, @jodyallen.stayathomemum on Instagram, @JodyAllen_SAHM on Twitter