This woman saved 32,000 in a year and this is how you can do the same

Harriet Marsden@harriet1marsden
Monday 17 October 2016 08:15
news
Picture:(Screenshot / YouTube)

At first glance, it looks like one of those ubiquitous YouTube ads - "Suburban mom makes $$$$$$$$$$ a month from her own backyard by doing this one xxx thing".

But Canna Campbell isn't a scammer, or a phisher, or an advertisers' creation. She's just really, really good at budgeting.

This single mum from Sydney actually did save $32,000 in a year with her '$1,000' project.

It's based on the concept that breaking down a large task into smaller, bitesized chunks makes the end goal more manageable. Thus amassing a large sum of money by saving in 'parcels' of $1,000 becomes possible, with just some simple lifestyle tricks.

Campbell was first inspired when her dad found her storing her bar tips in a drawer. He took her to the bank to deposit the cash, and she made her first investment.

When she was working as a financial planner, she happened to have YouTube beauty star Chloe Morello as a client, who suggested that she also communicate her skills with online videos.

Campbell's YouTube videos on how to budget ended up making her famous, with 60,000 subscribers from around the world.

She gives advice on how to save for deposits or retirement, pay off credit card debt, declutter homes; she's even spoken at events for female technology leaders.

She has also blogged about her $1,000 project on her website, and she's recently restarted her savings after a three-month break.

According to Campbell, not everyone has to decide on $1,000 as a parcel amount - they can even try and save $100 at a time.

She told news.com.au: “If I hadn’t set that goal, I wouldn’t have saved it. I had to manifest that money."

A lot of people have a self-limiting belief they couldn’t possibly afford to save. Every time you get a payrise, your lifestyle goes up with that. It’s about creating money beyond the limit of our salary and stopping limiting ourselves by what we earn.

Campbell's top saving tips:

  • Sell possessions at garage sales, on Gumtree, Ebay or High End (added bonus of decluttering)
  • DIY home repairs or cleaning
  • Market research
  • Dogwalking and petsitting
  • Making her own cosmetics
  • Using frequent flyer points
  • Investing in longterm quality items
  • Tutoring

“I try to make finance and money fun. I focus on empowering people," she said.

I have short and long term goals. If I don’t have goals, I drift. When I get there I’ll keep going, it’s a never-ending journey.

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