Save big with these small changesThe hardest part about trying to save money can sometimes be just getting started. However, it can be surprisingly easy if you break down your monthly income into categories: what you need (50%), what you want (30%) and what’s left over to save (20%). To help make saving your cash a habit rather than a chore, Sainsbury’s Bank have set you a challenge to form new habits when it comes to saving a little extra money each week.
Introducing the 52-week challenge...
On week one you put away £1, followed by £2 in week two and so forth. Without noticing you can put aside over £1,300!
Additionally, you could set up a standing order to automatically transfer a set amount into your savings on pay day or save your change with apps. Alternatively, you can just take the old-fashioned approach and use a piggy bank.
While at times the temptation of unnecessary spending can get the better of your savings goals, one of the best ways to make saving a habit is to set yourself a realistic saving goal. Start by thinking of what you might want to save for; perhaps your next family holiday or a deposit for your first home. To gain a fuller understanding of how you could change your saving habits, have a look at the full guide to becoming a habitual saver by Sainsbury’s Bank.