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 10p or £1 per week or 1p per day. Whatever is affordable for you and regardless of any other debt you have.


I think the idea of paying off the debt with the highest interest rate first, while mathematically sound, is not always the best policy.


Sometimes it’s best to aim at the lowest amount and get that cleared completely. Or save money at the same time as paying off debt in order to support your mental health.

Leave a comment

Your email address will not be published. Required fields are marked *