Saving has a future
Hints and tips to budget, plan and save
Managing your cash isn’t exactly the most glamorous thing in the world. But it doesn’t mean living like a yoga hermit, balancing saving and spending.
On this page, you’ll find some hints and tips to budget, plan, and save. So you know where your money comes from and where it can take you.
This will help you later, when you need your money for something more than rent and nights out.
We gathered hints and tips from people who have been successful at saving and put them here to help you get started.
This one can be tough but it’s important. Add up what you spend on an average month. Food, clothes, rent, bills, nights out etc.
Budget monthly so you can include less frequent spends like car tax or a weekend away.
When you add it up split the amount into equal parts for each week until your next payday.
Remember, it’s not go for broke. You don’t need to spend the budget each week.
When you know how much you need to set aside for your budget put what’s left into a savings account. This can be hard but it’s a great habit to start early.
Transfer your money into your savings account on payday. Trying to keep it in your current account will just tempt you to dip in. If you know roughly how much you could save each month you can set up a standing order.
Once you’re up and running, avoid the temptation to dip into your savings by personalising your account to reflect your goal.
With a bit of money put aside, it won’t mean noodles for weeks if your car breaks down. You could also put some money towards content insurance, just in case your phone decides to take a tumble down the stairs.
Whether it’s a dream holiday or upgrading your phone, putting a little away now leads to a lot later and you won’t even notice it. Getting into the habit makes it so much easier.
Log into your internet banking to access the Money Manager tools that enable you to set a savings goal.
But what about the future?
Owning your own home might be a distant dream right now. But the choices you make today can help you to achieve this dream.
Saving, planning and budgeting seem like scary words but bank folk like when you talk that kind of talk. So, if you decide you want a mortgage, having good saving habits will start you off on the front foot.