Thursday, 27 February 2014

Simple And Easy Tips For Saving Each Week

If you would like to start saving a little money each week, here are some useful tips that could help you.

Cut back on coffees and lunches bought at work. This is a great way to save a significant amount of money. The average price of a coffee bought in a high street chain is around £3. If you are normally buying one coffee per day, that can come to a total of £15 per week saved. Over a year that comes to approximately £780. That a huge amount!

Another great way to save money is to set up a small direct debit straight from your account into a savings account. It is a simple and effective way of putting some money to the side before you can spend it. Every month, we will all spend our money on items that are not necessary or more expensive than they need to be. By saving some of your wages as soon as they hit the bank, you will soon get used to the amount left and not notice the ‘missing’ amount.

And you don’t need to be earning a high wage to do this. Even a small amount like £40 per month, saved as soon as your wage arrives in the bank, can build up to a sizable amount over time. And it will always be there in an emergency if you need it.

Savings accounts come in many forms now and you will be able to choose an account that suits you. For example, you might want to start with a flexible account that gives you quick access to the funds if you need it. Or, if you want to leave it untouched, choose an account that has a higher interest rate and requires a month’s notice before you can access the funds.

Saving can seem like an impossible task, especially if you are struggling to manage. However, even small amounts like £5 can make a difference. If you don’t have savings at the moment, start now and you will see how quickly it grows and how easy it really is.


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