The 5:2 money diet: The simple rules that saw one couple save $23,000 in a year.

Here at Mamamia, we’re not at all interested in diets. You won’t find us writing about the latest fad, or posting before and after shots of a woman who’s lost 45 kilos.

It’s not our thing.

A money diet, however, is something we can get behind.

Kate Harrison, author of 5:2 Your Life, explores how small weekly changes can make an enormous difference.

The idea is to save five days of the week. Bring your lunch to work. Catch the bus. Eat in and maybe even forgo your morning takeaway coffee (HA, no I’m obviously joking, that’s way too far).

Specifically, Harrison says you should give yourself a budget of 25 per cent of your normal daily spending.

LISTEN: Monique Bowley, Mia Freedman and I discuss the 5:2 money diet on this week’s episode of Mamamia Out Loud. 

This encourages mindfulness when it comes to spending. Harrison says it’s not about “suffering” but saving with purpose.

Alix O’Niell for The Telegraph UK writes, “AA tells members they only need to focus on not drinking today. Apply the same rule to spending: if you really want something, tell yourself you can go back and buy it tomorrow. The urge will often pass, painlessly sifting your needs from your wants.”

On the other two days of the week, which might be the weekend for example, you have permission to splurge. Well, within reason of course.

Harrison says you should set yourself a ‘splurge’ budget at the beginning of every month and put that money in a separate account. And when it runs out, that’s it.

The point of those two days is to have fun. Enjoy your spending. Do the things you love doing, and actually appreciate it.

The Telegraph reported earlier this week that one couple, Nicola and Dave Richardson, managed to saved £14,000, equal to AU$23,000 a year, by sticking to the 5:2 money diet.

It’s simple. It’s logical. And it could make an enormous difference.

Do you think you could stick to the 5:2 money diet? 

You can listen to the full episode of Mamamia Out Loud, here.