How to
How to save
If you are a spender, it’s not easy, therefore try to start with baby steps.
If you are a spender, it’s not easy, therefore try to start with baby steps. If you can set aside something each week it is surprising how it builds up.
Start with a very small amount say £1 per day or £5 per week. Try to automate it with a standing order when you get your wages. The aim is to grow an emergency pot. It may help to give yourself a goal, for example save for a weekend away.
If your bank offers it, turn on the round-up feature or use an autosaving app. For example, spend £2.90 on a coffee and 10p is moved into a savings account. Some banks also offer you the ability to increase the percentage level of round-ups on every purchase to help you.
Go through your bank statements to ensure that you need all your subscriptions or at least review them to see if you can improve them.
If you are a spender, try to sleep on it before buying an expensive item or discuss it with a friend before buying.
Do not store credit cards on websites to make it a little more difficult to spend.
Try to plan your spending so that you know where each pound goes.
If you have any credit card debt this must be your first goal to pay off. As the interest rate tends to be the highest.
Information, not advice. This guide is general information to help you understand your options. It is not personal advice and not a recommendation to buy, sell or hold any investment. If you are unsure what is right for your circumstances, consider taking regulated financial advice. The value of investments and any income received from them can fall as well as rise, and investors may receive back less than they originally invested. Past performance is not a guide to future returns.