1. Give yourself a financial health check
- Work out how much is coming in and what’s going out. If you have any outstanding debts, find out which re-payments have the highest interest rate and make paying these off a priority. When you’ve eliminated expensive debts, you can get saving.
2. Move money into savings before you get a chance to spend
- Moving the money out of your current account as soon as possible removes temptation. Set up a regular payment so money is automatically transferred into savings – that way you won’t forget.
3. Stay motivated
- When it’s a big saving target, it can be easy to lose motivation, as more immediate temptations cross your path. You may be able to set a specific savings goal, such as saving for a home, within your banking app.
4. See what you could cut from your monthly spending
- Small tweaks make big impacts. Consider cancelling subscriptions you’re hardly using. Planning meals in advance can also help cut supermarket bills.
5. Finally, be patient
- Little changes will add up over time and make a big difference. Stick with it!
