Struggle to Save

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I've tried so many way's to save money over the last 2 years whilst been in a job however each time i try, I end up failing.

Just wondering if anybody else has some good tips to saving money, I've tried savings accounts etc but always take the money I've saved out.

Thank you.
 

Cas

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i use an app called chip . it look at you account and works out how much you can save.

really good , as once it is set up . i don't have to anything else .

I have saved a decent amount and you can up to 5% interest on the money you save .

If you give it a try use this SK7VT8 . you will get 1 % interest
 

The Money Blog UK

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i use an app called chip . it look at you account and works out how much you can save.

really good , as once it is set up . i don't have to anything else .

I have saved a decent amount and you can up to 5% interest on the money you save .

If you give it a try use this SK7VT8 . you will get 1 % interest

Thank you! I will certainly give it a go. I've been reading through some other threads and wondered if you have tried any ISA/Share accounts? If so, how did you find it? Do you think this could be useful to invest in.
 

Cas

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Thank you! I will certainly give it a go. I've been reading through some other threads and wondered if you have tried any ISA/Share accounts? If so, how did you find it? Do you think this could be useful to invest in.
i haven't tried this my self, but i am sure someone may of .

what would say is you main problem ?do you manage to put money in a separate account
 

mabozza

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A seemingly pointless thing is stick your coins in a bottle (quite hard to get throwing the £1s in at first) as you see the bottle fill you get more into it.. I do it and cash it in at bank when we are going on holiday.. You would be surprised how much you save up... Last time I had £878 in it
 
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jonv21

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I would say the main problem is not having enough money. Use an separate e-savings account, means you cant just use a card as you have to login online to transfer the money to your main account first.
 

Jon

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I struggle with saving but ironically don't struggle with paying for stuff.

So for example when we go to Florida I pay the deposit and then I know I've got 10 months / 12 months or whatever to pay for it and I manage that fine.

Tell me to save £500 a month for 10 months and i'll be mehhhhhhh
 

Queen Jess

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I struggle with saving but ironically don't struggle with paying for stuff.

So for example when we go to Florida I pay the deposit and then I know I've got 10 months / 12 months or whatever to pay for it and I manage that fine.

Tell me to save £500 a month for 10 months and i'll be mehhhhhhh

Oh I love saving... I've always saved and like to see the money add up. But then I spent it all on a house two years ago and am back to square one again!
 

Queen Jess

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I've tried so many way's to save money over the last 2 years whilst been in a job however each time i try, I end up failing.

Just wondering if anybody else has some good tips to saving money, I've tried savings accounts etc but always take the money I've saved out.

Thank you.

I'm presuming that you use your savings for something fun rather than an emergency? You should always make sure you have an emergency fund for things like job loss, car breaking down etc (general guidance seems to be 6 month's pay). Make sure you budget for everything else including money you can spend on stuff you want otherwise you'll end up giving up as you never get to spend on anything you want.

Presuming you see it as money to spend, you could just put it somewhere harder to get out like a notice account or a written account. The trick is to not count it as part of your daily savings and try to forget about it. I transfer some of my pay out each month with a standing order to my savings account so I don't even think about it.

There are also some gimmicks out there to help you save like the chip app - good if you want something automated to figure out how much you can save or moneybox which rounds up purchases (although on moneybox I think the fees are high for tiny amounts of savings and if you are investing you should do so for the long term).

You could also go for a high interest account where you are limited to save £250-300 a month but get 5% interest (HSBC, First Direct, Nationwide, M&S) at the end of the year - so you'll be at a disadvantage of you take money out. You need to have current accounts with these banks though.

You could even incentivize yourself by letting yourself but something you want if you save £x during the year.
 

mikecmr

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The best way I found was to open up different savings accounts in your main bank/BS and then setup standing orders a few days afte ryou get paid to transfer the money into these accounts and treat that as virtual cash so for example you get paid 1000, 100 of this is virtual money so you will never see it and then never budget to spend it - I currently have 6 accounts saving for different things and its all automated haha!

Now taking the money out is slightly different its up to you what you do with your money I withdraw th emoney when ive hit my target all apart from my isa which gets a constant stream going into it nothing crazy but something is better than nothing
 

ladymissell

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I've tried so many way's to save money over the last 2 years whilst been in a job however each time i try, I end up failing.

Just wondering if anybody else has some good tips to saving money, I've tried savings accounts etc but always take the money I've saved out.

Thank you.
It's definitely worth looking at savings accounts where you can't take out the money easily - I have the same issue as you, and if I can take the money out easily I will! But there's lots of banks now that do saving accounts which have restricted access. Good luck!
 

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