Getting into the habit of saving
Saving money isn’t just about putting aside what’s left over at the end of the month, it’s a step towards a solid future. For some, saving money even improves their wellbeing. Whether you're saving for a dream holiday, an emergency fund or long-term goals, the journey starts with understanding why and how to save effectively.
1. Plan ahead
One good tip is to think about the things you might need and want in the future – such as buying a house, funding education or saving for a holiday. Thinking ahead and having clear goals will help you stay motivated and on track for saving.
Watch our top tips video to help you make those first steps.
2. Start saving early
Even putting small amounts away can grow savings over time.
Try our savings calculator to see you how much you could save over time, and how long it could take to reach your savings goal. It's a great way to see how the interest on your savings can really add up.
Did you know?
In 2024/25 the average age of a first time buyer in the UK was 33*. The sooner you start saving for a house deposit, the sooner you could move in.
3. Build an emergency fund
Life is unpredictable. Having an emergency fund means you’re prepared for unexpected events without having to give up on your savings goals. Whilst some things you can’t predict, you can plan and put some money aside for example when you might need to replace important electrical items or car maintenance such as servicing or tyres.
Try to save around three to six months of your important living costs.
4. Budget wisely
Saving money can feel a hard slog. But, saving starts with knowing where your money goes. You can try using a budget tool or app to track your expenses and spot areas you can cut back. It can be as simple as spending five minutes getting it all down onto a spreadsheet.
If you’re really struggling for ideas or where to start, we’ve partnered with PayPlan. They have an online self-help tool called BudgetSmart. This can help you find ways to reduce your outgoings, and save you money.
Find out more5. Choose the right savings account for you
Not all savings accounts are the same. Savings accounts have different features and benefits depending on how often you want to take your money out, and whether you're looking to save without paying tax on the interest you earn.
To help you decide what’s right for you we have a couple of guides.
If you know what type of savings account you'd like, take a look at our product range.
View all our savings accountsFAQs
Can I speak to someone for help?
Yes, you can call our contact centre or book an appointment to speak to someone in our branches about your savings goals and how we could help.
How can I open a savings account?
It depends on the account you'd like to open. Some of our accounts can be opened online, by post or in our branches, whilst some you can only open in our branches.
Take a look at our savings range it will tell you how you can open it and what you will need.
*Source: UK Finance April 2024 - March 2025