Coins

Starting the savings habit is a great first step, irrespective of how much you can afford


If you save regularly your funds will soon start to add up and its very rewarding to watch them keep growing.

The best time to put a bit of money aside is just after you've been paid, and try not to be tempted to spend it!

If you've got a bit of money left over at the end of each week or month then great - you've got your starting point. However, even if there's usually nothing left, it doesn't mean you can't save - it's not easy to change how much money you have coming in, but most people can change how much goes out.

40% of people across the UK have less than £100 of savings and no buffer to protect against unplanned expenses

Money Advice Service

Our guide includes...


Did you know?
The average Brit spends almost £50,000 on alcohol in their lifetime1

Fact:
The average cost of a pint of beer is £3.472. If you were to skip three pints of beer each week you could save over £541 per year!

1 macmillan.org.uk
2 Good Pub Guide 2017

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What makes a rainy day? Budget sensibly

It's everyone's worst nightmare, you wake in the morning and go to take a shower and there's no hot water because the boiler has broken. You jump in the car to take the kids to school and the car won't start. You're about to sit and watch a favourite movie and the TV has packed up. All these things can come to try us, so its really important to think about saving regularly and keep some cash handy for emergencies.

71% of people experience at least one unexpected event each year1

Could you afford any of the below at a moments notice?

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  • An unexpected repair/replacement of a home appliance
  • A car repair bill
  • A home repair bill such as fixing a roof leak
  • Replacing or repairing a central heating boiler
  • Replacing a laptop
  • Paying a larger than usual energy bill
  • Replacing a TV/DVD/Sky box etc.
  • Replacing a smart phone or tablet computer
  • Paying a larger than usual shopping bill
  • Paying a credit card bill

1 Money Advice Service

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Did you know?
The average weekly spend on takeaways and eating out in the UK in 2016 was £311

Fact:
That's £1,612 per year. Cut back to every other week instead, and you could save £806!

1 OnePoll on behalf of vouchercodes.co.uk 2016, between the ages 18-24yrs

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The differences between saving and investing

Whatever you're saving for, it's important to make sure that your money works as hard as possible for you. There's lots of options out there for you to choose from, but which type of savings account should you choose?

Here's a simple guide to savings.

Instant Access Savings Account
ISAs
Investing

Instant Access Savings Account

These are accounts that pay interest and allow you to withdraw money whenever you need it. You can save as little or as much as you want each month. You can often open an account with an initial deposit of as little as £1.

Next steps:

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