Money Matters Team

Develop the savings habit of a lifetime

By Money Matters Team 23/11/2012

Saving for the future...

If you're more of a natural spender, working out where to start saving can be difficult. But it's surprising how easy it can be to see your money grow by saving little and often. Here are 3 simple tips that can help you kick-start a savings habit for life.

Start small

The hardest part of saving for many people is finding the motivation and the discipline. So to get started, set yourself a small savings goal. Whether you want to treat yourself to some new clothes at the end of the month or even a holiday a little further down the line, figure out how much money you need to save and set yourself a deadline. Each week or month, set aside a certain amount of your income until you’ve got enough saved up.

This will give you some practice and boost your confidence. Keep adding goals to the list. You might start saving enough to buy a new pair of shoes, but keep the momentum up and one day you could find yourself having saved enough for a wedding or a house deposit.

Create a routine

Tip two is to start a saving routine. Divert some of your income into your savings once a week or once a month. Choose a specific day or date that suits you and stick to it. Before you know it, your savings will start to grow. If you don’t trust yourself to get round to moving your money regularly, you could set up a standing order from, your current account to a savings account around the same time you get paid. That way you won’t get used to having the money in your main account or be tempted to spend it.

Take advantage of a windfall

As well as any regular income, you might find yourself with some unexpected money. You might pick up a voucher for groceries or you might be too busy one day to buy your usual coffee or end up walking to work when you would usually take the bus. Rather than let these small savings accumulate in your current account, get into the habit of moving them into your savings pot. This will help you to you reach your savings goals even faster, beating your own deadline.


This Money Matters post aims to be informative and engaging. Though it may include tips and information, it does not constitute advice and should not be used as a basis for any financial decisions. Sainsbury's Bank accepts no responsibility for the opinions and views of external contributors and the content of external websites included within this post. Some links may take you to another Sainsbury's Bank page. All information in this post was correct at date of publication.