The start of this year has been one of the wettest on record. But Joseph Murray, who has linked his savings to the weather, is in a bright mood: 40 days of consecutive rain has boosted his pot by \u00a3800. <\/p>\n
Until six years ago, the 33-year-old had struggled to save money. \u201cI\u2019d hit a bit of a brick wall. I had about \u00a32,000 in my savings account and had been desperately trying to get beyond that, but I never could.\u201d<\/p>\n
In the hope of changing this, Murray, who works in administration in the NHS and lives in London, committed to turning bad weather into good habits and used wet days to save for a rainy day. Every day that rainfall was forecast in his area, he set aside \u00a320. The result has been a complete overhaul of his saving strategy, and after six years his pot has grown to more than \u00a316,000 thanks to the English weather.<\/p>\n
\u201cIt\u2019s about changing habits,\u201d he said. \u201cYou kind of leave it in the background \u2014 I barely notice it half the time. But I was committed and consistent with it and continued to be really strict. [Reaching]\u00a316,000 was a big milestone.<\/p>\n
\u201cI never thought I\u2019d be in the position to own a home, but with this habit change I can actually save for a deposit and get closer to my long-term financial goals.\u201d<\/p>\n
He used the personal finance app Plum to help him. Its Rainy Days Rule allows users to save either \u00a31, \u00a32, \u00a35, \u00a310 or \u00a320 each time it rains. Users set aside an average of \u00a388 a month or \u00a31,056 a year. Once the account holder adds their postcode, the app transfers the money into their savings account each time rain is forecast in their locality. Plum has seen a 36 per cent increase in people using the Rainy Days Rule since January 1.<\/p>\n
Murray said: \u201cConsistency matters way more than the amount you\u2019re saving \u2014 just being consistent and really, really pushing to build that as a habit. And because of this rule I\u2019ve been able to form those habits naturally rather than it being a stressful exercise.\u201d<\/p>\n
\u2022 What everyone in their twenties needs to know about money<\/a><\/p>\n Alexandra Rees also discovered that imposing new rules changed her relationship with money. \u201cI was awful at saving; I was a case study of what not to do with your money,\u201d said the 45-year-old. <\/p>\n Rees, who lives in Vauxhall, London, and works as a management consultant at a communications firm, decided to curb her spending and prioritise saving by putting a \u201ctax\u201d on herself. Any time she makes a purchase with a retailer that is a guilty pleasure, a percentage of the purchase is moved into her savings account. She has the rule set up for transactions with a number of online retailers as well as chain coffee shops such as Starbucks. <\/p>\n She said: \u201cIt\u2019s a self-imposed tax, so it makes you think twice before you do something and it slows you from a hot emotional state of being drawn to something like Asos to thinking, hold on, I know if I spend money at this shop I\u2019m going to tax myself for it. <\/p>\n \u201cIt\u2019s about checking yourself so you can be more mindful with your spending.\u201d<\/p>\n