Money makeovers in minutes
If you’re lacking in time and motivation to focus on your finances, don’t panic. Our useful hints and tips could help you focus on saving – whether you’ve got plenty of time to spare, or just five minutes.
Just five minutes?
1. Make a date
We schedule in our supermarket trips, hair appointments and family outings – so why not our finances? To kick-start your savings, grab your diary and spend just five minutes planning in a monthly review of your spending. Then make sure you stick to it! This quick task could benefit you all year round.
2. Take the 1p challenge
When it comes to saving, every penny helps. Grab a money box and save 1p on day one, 2p on day two, then keep going. If you started on January 1st, the most you’d have to put into your money box is £3.65 on December 31st – and you’d save £670 by the end of the year. Not bad for five minutes!
10-15 minutes to spare?
1. Appy saving
Download a budgeting app to review your spending on the go. With your budget in the palm of your hand, it’s easier to check when you’re overspending and what you need to cut back on. Download a free app for your device and make saving a part of your daily routine.
2. Study your bank statements
It may sound obvious, but a report by the Money Advice Service found that one in five British adults don't understand their bank statements. If you usually ignore your statements or you find them confusing, don’t be afraid to ask for help. They’re a great way to track your spending and saving habits.
30 minutes on your hands?
1. Set up a savings goal
This year, what are you saving for? A family holiday? A new home? Spend 30 minutes jotting down your priorities, then order them from the most important to the least. With your goal in mind, work out how much you’ll need, your deadline and how you’re going to reach that figure. Sound daunting? Our new Savings Calculator could help you.
2. Automate your savings
You’ve probably heard this one before – but only because it works! Get started by setting up a standing order from your bank account into your savings account, scheduled for a couple of days after payday. Your money will leave your account automatically and build up gradually, without you lifting a finger. Simple, but very effective.
An hour free?
Speak to an expert
If you’ve got a little more time to spare and want to get your savings in shape, speaking to an expert can really help to simplify things. Make an appointment, write down any questions you’d like to ask, then don’t be afraid to take notes and spend some time considering your options. If you need to know more, you can always contact us.
Need to fill a rainy afternoon?
Budget, budget, budget
By reviewing your spending habits with an online budget tracker, you can identify exactly where your money’s going – from an expensive latte habit to high interest on your mortgage. Gather up your receipts and bank statements then input all the information into your budget tracker as thoroughly as possible for a useful overview of your finances. And don’t forget, you can always book a savings health check with one of our advisors. Just contact your local branch and make an appointment to talk to one of our advisors.