A SAVVY saver has created a “money cake” budget plan that will help you save money and keep track of where it is being spent.

The savings fan, posted on TikTok under her username @femalemoneydoctor, explains how to create a monthly budget by organizing your money into expense categories.


A woman posted a convenient way to make a monthly budgetPhoto credit: tiktok / @ femalemoneydoctor

She said the first step is calculating to see how much money you are getting per month.

Then she said that you need to create a number of categories to put your money in, and she advised her followers to have at least three on their list.

These categories are “basic requirements” for groceries, rent, council tax and household bills. “Fun” for money spent on clothes and takeaway food; and “savings” on cash needed for emergencies.

She also advised followers to create a “future” category, e.g. B. Set aside money for your retirement.

In her video, the savvy saver created three additional categories for her money: “Charity”, “Education” and “Health”.


The savvy saver has published on TikTok how she creates her monthly budgetPhoto credit: tiktok / @ femalemoneydoctor

However, she said any additional categories you create should be based on your lifestyle and “what you think is necessary” to spend each month.

She then said that you need to calculate how much of your monthly income should go to which category.

She said she “loves” the plan because she can split the money she’s put into her categories into separate bank accounts to keep track of her expenses.

However, she said you could do the same thing if you had a Monzo card or a Starling Bank card.

Fans liked and shared the post, saying this was a “really good way” to keep track of expenses.

She’s not the only savvy saver at TikTok who shares spar hacks.

A saver under the Invest with Mon profile explained how the 100 Envelopes Challenge could save you £ 5,000 in just 100 days.

She urged devotees to write the numbers 1-100 on separate envelopes and then randomly pick one each day (or change it to twice a week if you prefer).

Whatever you pull out of it is the amount of money you save – it really is that simple.

For example, if you choose the envelope numbered 6, you need to save € 6.

Another bargain hunter announced that he would never pay full price for anything by using Facebook’s ad library to get discount codes.


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For more tips and ideas on saving money, a mother who has paid off £ 40,000 in debt gives the “right” amount of pocket money so that kids can teach them about cash.

In other news, this money-saving mom is using the secret grocery website to save a fortune on groceries while packing 10p chips and fancy granola for 1 pound.

Last year, the same woman announced that at 35, she was mortgage-free thanks to her smart spending.

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