1. Have different goals

Setting yourself both short-term (spending money for your holidays) and long-term (the house extension you’ve always dreamed of) goals allows you to be more flexible – and means you’re less likely to dip into your long-term savings on a rainy day! We offer a range of saving products to give you the freedom to save towards what you want in life. You can choose from our easy access account and our range of fixed term savings accounts to help you meet your savings goals! More information can be found on our website!

2. Review your incomings and outgoings

Now you have set yourself goals, you should create a plan of action. Review how much you earn compared to your basic outgoings such as bills and debts so you can get a better idea of how much you can realistically save each month. You can record this yourself or if you find it easier, check out online budget planners such as, Money Advice Service. There are plenty of resources out there!

3. Be organised with your savings

Now that you know how much you can potentially save each month, it’s time for some simple and easy organisation. Make life easier for yourself and set up a standing order after payday. You might not even notice the money going out of your bank account…

4. Shop around

Grab the opportunities to save where you can in everyday life. For example, shop around for supermarket deals to save on your weekly shop and set up alerts so you’re aware of low-cost train fares. It might take up more of your time, but being savvy with your spending is an easy way to meet your savings goals, and might even help you get there quicker than expected.  

5. Know where to cut down on the costs when you need to!

Owning up to where you overspend is more difficult than you think, but it’s important to be honest with yourself! We all have a guilty pleasure even if we don’t want to admit it - whether that’s needing to have the latest tech or splashing the cash on luxurious clothing items. It’s ok to treat yourself once in a while, but before you make an impulse purchase, consider your savings goals and think “do I really need this”?