Ways to help you save
If you want to get better at saving, we're here to help. Whether that's putting money away whenever you can or saving regularly. We've got a range of tools, accounts and guidance to help make savings hassle-free.
Get a better understanding of your money
Exploring ways to better manage your money can help you get into the habit of saving. Setting out how much you spend, and on what, can give you greater control of your finances. You'll get a better understanding of what you have to spend. And what you're able to save.
Create a budget
When it comes to managing your money, creating a budget can be a useful starting point. Break down your income and outgoings so you have a clearer picture of your spending power. This should show how much money you'll need to cover your essential costs. And how much you'll have leftover for personal spending.
Review your essential costs
Once you've got a clearer idea of your finances, you might be able to find some places to cut back. You may find ways to better manage your money by taking a look at your essential costs. You could check:
- whether you could save money on your weekly food shop
- where you might be able to get support if you're struggling to pay your utility bills
Manage your borrowing
Many of us borrow money. But taking some time to review your debts will help you get greater control over your borrowing. In doing so, you may find ways to be able to pay more towards your debts, or to free up more money to save each month. Whatever is best for you. For example, you could start keeping closer track of everything you owe. And plan ahead so you can meet your payment dates.
Check your mortgage repayments
If you have one, your mortgage will be a big monthly outlay. If you're struggling with making your payments, you might be able to find ways to make them easier to manage with our mortgage health check.
Open a savings account
Having a separate place to save your money to can be a great way to maintain your savings habit. You'll be able to work towards your savings goal with a dedicated account. And be less tempted to spend your savings.
Savings accounts are designed to be the place where you put your savings aside. There are lots of different types of savings accounts to choose from. Some lock your money away for a set term. Others allow you to move it in and out of your account when you need to. Either way, you'll also earn interest on your money.
ISAsFind our more about ISAs
Individual Savings Accounts, or ISAs, are a specific type of savings account. Unlike traditional savings accounts, with a cash ISA you don't pay tax on the interest you earn.
There are also several different types of ISAs. They're each designed for different purposes. For example, stocks and shares ISAs are a tax-efficient way to invest.
Find the right savings account for youFind a savings account
Whether you want to save little and often, or lock away a lump sum, with a few quick questions we can help you find the savings account that's right for you.
Make use of our digital savings tools
Saving money isn't always easy. But there are many tools out there that can make reaching that savings goal a little more achievable.
Set up a savings goal
Part of the difficulty in saving money is getting and staying motivated. Our savings goals can offer a helping hand to save for the things you want. And keep you motivated until you achieve it.
You'll be able to create a savings goal in our Banking app. Set how much you want to save in your savings account and by when. The app will calculate how much you need to save on a daily, weekly or monthly basis. And it'll help you track your progress.
Our Impulse Saver tool
Our Impulse Saver is another free savings tool in our Banking app. It's made up of 2 key features to try and make saving money as quick and easy as possible. These include our round-up tool and quick save buttons.
With our round-up tool, the app calculates how much you could save by rounding-up your debit card transactions to the nearest pound. We call this your spare change. For example, if you bought a coffee for £2.40, you'll have 60p of spare change.
You can then transfer all your spare change from the last 7 days to your savings account. Saving little and often is a great way to build up your savings pot.
Quick save buttons
Our quick save buttons offer an easy way to top up your savings account. Once you've set them up, they'll display when you log into the app. You'll then be able to move money from your current account to your savings account with the tap of a button.
Ask for help if you need it
Although this page might offer some places to start, you might find it useful to get in touch for further help or advice.
Get a free savings review
When you take out a savings account with us, we make 7 Savings Promises to you. Our last promise includes taking a look at your savings. We'll give you a free Savings Review to help you find out if you can get more from your savings.
You can arrange your savings review by calling your local branch. One of our colleagues will then talk you through your savings.
Worried about money?
If you're struggling, be sure to ask for help. We understand times can get tough and we're committed to helping you through difficult times. Especially if your circumstances have changed.