Not having any or enough savings for a rainy day can be a huge cause of worry and again it’s easy to try and put it to the back of your mind, but even saving a little bit each month can make a real difference.
Firstly, have you got anywhere to put your savings? Keeping them in a separate savings account can make them much less tempting to dip into. Once you have a separate account, work out how much you want to save each month and set up a direct debit to your savings account for payday each month, so you can’t be tempted to spend it.
If you’re struggling to find cash to save, it’s a good idea to take a look at how you spend your money. Write down everything you spend in a week, however small, including takeaway coffees, bus fares etc, and see if there’s anything you can live without. You can redirect this cash to your savings each week.
There are also a number of apps available which are designed to make it easier to save. Our mobile app has an Impulse Saver feature, which allows you to transfer small amounts from your current account to your savings account in just a few taps.