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Getting into a Savings Habit

5 ways to get saving

If you're new to saving it can be hard to know where to start. Here are 5 ways to get into the habit.

  1. Create a budget

    Identify opportunities to save by creating a budget, if you don’t already have one. We can show you how here.

  2. Keep savings separate from regular income

    It's often easier to build up savings if you keep them in a dedicated savings account, separate from your everyday banking.

  3. Track your spending

    Consider using a personal finance or banking app to monitor and track what you spend. Frequent, small purchases soon add up, and you may spot areas to cut back on spending and save more instead.

  4. Save a little and often

    Saving any amount of money, however small, is worthwhile. It can help you get into the habit of saving. You could make saving easier by setting up an automated transfer, from your main bank account into a savings account, for the same day each month. Choose the day you're paid, and you'll save money before you're tempted to spend it.

  5. Compare and save

    Use comparison sites to check if you could be paying less for your household expenses, like utilities, phone, internet or groceries. If you switch to a lower cost option, try putting the amount you’ve saved each month into your savings account.

An HSBC High Rate Savings account can help you kick start your saving goals. Whether its saving weekly or monthly, you can easily set up regular auto-deposit contributions to build your savings and stay on track. Learn more. 

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Saving Strategies

Learn how to create a successful budget, by assessing your spending habits against your earnings so you know how much money you can save each month.
Discover the different types of savings accounts available and learn more about how they can help you achieve your savings goal.
Learn about the different types of interest and how it can help increase your savings over time.