Top tips to help you save more!

Are you having a hard time meeting bills and expenses? In these tough economic times, saving might be the last thing on your mind. However it's more important than ever to ensure that you have some money tucked away in the event of unforeseen circumstances. Here are some top tips to help you save more.

How to save more

Establishing a healthy savings account balance is all about getting into good habits and breaking the bad ones. Here are some top tips to help you save more each month...

Prioritise your savings - It can be tempting to wait until the end of the month to consider savings and at that stage, transfer any money you may have spare over to your savings account. However, you'll generally be able to save more if your prioritise your savings - make it the first money transfer you do each month after your salary clears.

Budget carefully but realistically - Of course, if you're going to transfer money at the beginning of the month, you need to know how much you'll need to live on for the rest of the month. This is when a good budget comes in handy. Work out exactly what expenses you'll have and how much things will cost over the cost of the month. Then transfer the excess to a savings account.

Choose your account carefully - Instant access savings accounts are becoming the most popular kind of savings accounts in the UK, but they are not the best choice for everyone. If you find it tempting to dip into your savings, an account where you have to give notice for withdrawals may be the better option.

Look out for the little savings - If you want to save more, you should consider the old saying: "Look after the pennies and the pounds will look after you." This means that even little savings, such as switching to a cheaper brand of washing powder, will all add up to make a big difference.

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