If you can afford to save £2 every day then in a year you could save £730 – and you could continue in the same way after the year is over. If £2 a day is not affordable then I recommend saving less than that. Getting into the habit is more important than how much …
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Recommendation: Monmouthshire Building Society Regular Saver account
This account has an interest rate of 6% APR and you can deposit up to £500 each month. It pays the interest a year after it has been opened. My recommendation is to open an account and put one pound into it every Monday during 2026. At the end of the year you’d have the …
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Getting into the savings habit
For me it was more important to get into the habit of saving regularly than to look at how much I would save – whether those savings would build up soon or in the future. The habit was key. This is why my strong recommendation is to start with a small amount – be it …
Genuine affordability
Many money saving ideas start by looking at your budget and then asking you “What’s the most you can afford to save?”. They then calculate how much you would save over 1, 2, 5, 10 years (or similar) and talk about how much less interest you might pay on a loan or credit card, etc. …
“Saving money regularly can help improve sleep, a new report suggests.”
The BBC report about the study says “Putting a monthly amount aside, however small the sum, also helped people to relax and be more optimistic about the future”. If a monthly amount helps then why not improve even on that and save a small amount weekly! “This report explores the positive short- and long-term impacts …
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It’s never too early and it’s never too late…
If I’d started saving one pound per week when I was twenty years old I would have nearly £2,000 now. I could really do with £2,000 and I’m grateful that I could definitely have afforded one pound per week for all of that time. If you can afford it then I would suggest that it’s …
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Could the UK reduce household debt by £¾billion each year?
£¾billion is a lot of money (£750million) but I believe it would be possible to reduce household debt by this amount each year. It would mean that an organisation with the capacity to monitor this would need to commit to promoting it as an idea. Here’s how I think it could be done: I believe …
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Transferring money with phone apps
Phone apps have made the act of saving small amounts regularly much simpler and helped me to make transfers manually. I believe making a regular manual transfer provides a better mental health boost than an automated transfer such as a standing order or Direct Debit. It is now the work of seconds to transfer a …
Slow-motion saving
Another thing that I found intimidating was the amount that media stories and adverts talked about for saving (tens or hundreds or thousands of pounds). I find it useful to ignore all of this and think about saving regularly (daily, weekly, fortnightly, monthly…) and not about the total amount that I have saved (although I …
The finite-ness of saving
I found saving to be overwhelming. Many media stories and adverts talk about what feel like large blocks of money (£10 or £100 or £1000) that I thought I needed as an initial amount before I could start saving. My solution was to save small amounts so that I barely noticed them and I knew …