Top 5 Ways to Save Money

The best ways to save money by Furness Building Society

From an early age, most of us are taught to understand the importance of growing our savings. We’ll be familiar with the notion ‘look after the pennies and the pounds will look after themselves’. For many youngsters, these habits are encouraged through the use of a piggy bank - with the hope that this will evolve into a regular saving routine as we approach adulthood.

Whilst saving money is a common lesson taught, actually learning how to save is something discussed much less frequently. This means many of us are unsure actually how to get started and when we do, how to keep on top of depositing regular amounts.

There are countless benefits to moving your money and building an emergency pot of cash, but knowing where to begin and how to build your savings can be difficult. We’re here to help you kickstart your savings with an easy step by step guide to growing your funds.

Girl saving in a moneybox

1. Creating a habit

If you’re not yet in the habit of setting money aside on a regular basis, it can be tricky to remember to do so. Saving money will quickly become a hassle if not done consistently and at a convenient time for you. We would always recommend moving what you can at the very start of your pay packet - whether that’s weekly or monthly.

If, for whatever reason you have priority payments which make your outgoings slightly higher in one particular month, you may not be in a position to save as much as you’d have hoped. In this case, we would always recommend moving whatever spare change you have in order to keep up your new saving habit.

According to Healthline, it takes just 66 days to create and stick to a new habit. Keep this in mind and in just over two months, you will really start to build your savings and the process of doing so will become second nature to you.

Check out our guide to choosing the right savings account.

2. Setting goals

3. Makeover your money

4. Prioritise your pennies

5. Find the fun in free

Next steps

Hoping to start saving or want to grow your regular savings into something a little more substantial? Let us help you achieve your goals with one of our savings accounts here at Furness Building Society. 

Get in touch with our expert team today to get the ball rolling, by visiting us in branch or by calling us on 0800 834 312.