Quick & easy ways to save more money & achieve your financial goals.

how to achieve your financial goals

Quick & easy ways to save more money & achieve your financial goals.

Whether it's saving for a house, or travel, or just our future in general, we'd all like to be able to save a little more money, wouldn't we? But, as I am sure we are all familiar with, saving for our generation can be really hard. And so, we thought we'd compile a list of little steps you can take to achieve your financial goals - whatever they may be!

Make your savings automatic.

Set up a standing order between your current account and your savings account on payday. This way, you won't really see or feel the money leaving your current account as you'll be effectively left with a 'net income' every month, and it does it automatically so you can't 'forget'.

If you're trying to get serious about saving, this is definitely our number one tip.

Open your savings account with a different bank to your current account.

Similarly, have your savings account with a different bank to your current account. This way, when you login to your app to check how much you have left to spend this month, you aren't tempted to 'treat yourself' with your savings or transfer some money back!

Together with point one, this will actually enable you to keep your savings 'out of sight and out of mind' - everything is automatic and will run itself, and before you know it, the next time you check you may have built up a nice amount without having to do a thing.

Don't think too big & overwhelm yourself.

If you set out trying to save for a house deposit of £30,000 for example, you're going to overwhelm yourself, think it's unachievable and be less motivated to start. Instead, think in shorter term goals. Tell yourself that you're going to save £5 a day, £50 a week, or £500 a month. These all seem a lot more achievable, and it's something that you can keep track of and tick off on a daily, weekly, or monthly basis.

Like the old saying of 'look after your pennies, and the pounds will look after themselves', if you focus on short term saving goals, those long term ones will look after themselves, too.

Spend a month tracking your spending… and we mean every penny.

Over the next month, make a list and write down everything that you spend. And we mean everything. Every coffee, every 3pm chocolate bar, and even those 'treat yourself' pair of shoes you bought on a whim after work last Thursday.

Make sure to also go through your bank statements in detail and add all of your standing orders and direct debits to the list too. You'll be surprised at how many things you may be paying for that you no longer need or that you didn't realise you even signed up for in the first place.

Then, when the month is up, go back over everything and think - how many of these items did you ~really~ need? (And yes, your morning coffee can be a necessity if you would like it to be…) How many of those items could you have saved the money on instead?

I did this exercise myself a few months ago, and man it is eye opening. It really helped me to identify the areas and the places I could really start to save money and it's been a massive help!

If you need a hand getting started, download our free personal spending tracker here.

Shop around for the best interest rates (and perks!) from banks.

Banks offer often much better interest rates for new customers, particularly if you switch your current account to them. So, shop around and see which banks are offering the best, and if you qualify - why not switch? It's quick and easy to do as long as you meet all of the qualifying terms (i.e you switch over two direct debits), and there's often some great perks on offer too, such as £100 when you switch or gifts of your choice.

Here's a great article from Money Saving Expert to get you started.