Saving a little each day for a rainy day

by Leeds Building Society

The old adage is true – every bit helps. Do you know that saving just £2 a day will add up to £730 over the course of a year? Over a decade, that’s over £7,000 - a significant amount of money. And that’s without taking into consideration the interest those savings will earn as they grow. For most of us, setting aside £2 a day is a completely achievable goal. Here, we’ve put together six of the easiest ways to pocket your £2 every day and become a regular saver.

Start as you mean to go on

If you’re someone who begins each day with an expensive chocolate cappuccino or a double-frothed latte with cinnamon sprinkles, it’s time to give it up. At around £3 a day, those costly coffees will be your savings downfall. Instead, make your own at home or work and say goodbye to the barista.

Workout for free

Gym memberships, personal trainers, expensive gear… the cost of fitness soon adds up. The truth is, you don't need any of this to stay in peak physical shape. Bin the gym and get outdoors. Run, walk and dance yourself to fitness, for free.

Eat your leftovers

Incredibly, in the UK, we throw away a gargantuan seven million tonnes1 of food and drink from our kitchens every year. Not only is that bad for the planet, but also for our pockets. Get creative in the kitchen and what you don’t use today, use tomorrow. Add leftover veggies to soups and stews, only buy what you know you’ll eat and use your freezer to minimise your waste.

Stop smoking

Smoking is a very expensive habit and most smokers will find they can save a lot more than £2 a day when they give it up. Of course, kick your smoking habit and it won’t just be cash you’re saving. There are number of health benefits to quiting smoking. Visit the NHS website2 for information and support on stopping smoking.

Get creative

How many birthday cards do you send each year? With price-tags from 50p to £5, each one is a potential saving. Make 2016 the year you get crafty and send your friends cards they’ll truly treasure. And why stop at birthday cards? You can make your own gifts too. Home-baking, knitted items and artwork are all money-saving presents that will be gratefully received.

Travel for free

Running a car is a very expensive pursuit. Although you may not be ready to give up your vehicle completely, you could save your daily £2 by leaving it at home. Take the bus, get on your bike or simply walk to work to avoid the extra costs and rush hour stress.

There are so many ways to save £2 a day, we should all be doing it. Try it yourself this year and enjoy the benefits of a handy lump sum for little effort or sacrifice.

1www.lovefoodhatewaste.com/node/2472 This material has been reproduced from the website www.wrap.org.uk of The Waste and Resources Action Programme

2www.nhs.uk/livewell/smoking/Pages/stopsmokingnewhome.aspx Contains public sector information licensed under the Open Government Licence v3.0