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savings

Set a savings goal

It's a proven fact that people who set a savings goal save faster than those who don’t!

Choosing something to aim for, like a course of driving lessons or next year’s go-to festival, makes it real and helps motivate you to save.

calculator

Choose how much and how long

Work out how much you want to save and how long it will take you to reach your goal. Let’s say you want to save up for a series of 10 driving lessons when you turn 17. Here’s how your savings could add up:

Your savings goal:

£250

10 Driving lessons at £25 per hour

Your earnings:

£16.80

4 hours work per week @ £4.20 per hour

Your weekly savings:

£6.00

You save £6 per week and keep £10.80 to spend

car

Make it easy

Open a dedicated savings account and give it a name that inspires you to save, like 'First car' or 'Summer festival'.


Then, if you have a current account that you know will have a little money in, set up a monthly standing order from your current account to your savings account. That way you can’t forget to save or spend the money on something else. It’s easy to do online or pop into your local bank.

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Enjoy and repeat!

When you’ve reached your savings goal, enjoy it – you’ve earned it!


And why not keep saving for a new savings goal too? It’s a great habit to learn.